Boston Common Asset Management LLC Sells 10,469 Shares of Broadcom Inc. $AVGO

Boston Common Asset Management LLC trimmed its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 8.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 113,075 shares of the semiconductor manufacturer's stock after selling 10,469 shares during the quarter. Broadcom makes up 2.5% of Boston Common Asset Management LLC's holdings, making the stock its 6th largest position. Boston Common Asset Management LLC's holdings in Broadcom were worth $42,714,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. DecisionMap Wealth Management LLC grew its holdings in Broadcom by 23.3% during the second quarter. DecisionMap Wealth Management LLC now owns 4,463 shares of the semiconductor manufacturer's stock worth $1,686,000 after purchasing an additional 843 shares during the period. Vision Retirement LLC increased its position in Broadcom by 1.8% during the second quarter. Vision Retirement LLC now owns 19,072 shares of the semiconductor manufacturer's stock worth $7,204,000 after buying an additional 335 shares during the last quarter. Leavell Investment Management Inc. raised its stake in Broadcom by 5.2% in the second quarter. Leavell Investment Management Inc. now owns 24,422 shares of the semiconductor manufacturer's stock valued at $9,225,000 after buying an additional 1,204 shares during the period. SOA Wealth Advisors LLC. raised its stake in Broadcom by 6.6% in the second quarter. SOA Wealth Advisors LLC. now owns 18,407 shares of the semiconductor manufacturer's stock valued at $6,953,000 after buying an additional 1,140 shares during the period. Finally, Quantum Financial Partners LLC bought a new stake in Broadcom in the second quarter valued at approximately $681,000. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Broadcom Stock Performance

NASDAQ AVGO opened at $393.05 on Friday. The company has a quick ratio of 2.01, a current ratio of 2.24 and a debt-to-equity ratio of 0.71. The company has a market capitalization of $1.87 trillion, a P/E ratio of 65.51, a P/E/G ratio of 0.75 and a beta of 1.45. Broadcom Inc. has a 12-month low of $281.87 and a 12-month high of $495.00. The firm has a 50-day moving average price of $389.79 and a two-hundred day moving average price of $373.30.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.40 by $0.04. Broadcom had a net margin of 38.85% and a return on equity of 41.61%. The firm had revenue of $22.19 billion for the quarter, compared to analyst estimates of $22.13 billion. During the same quarter in the prior year, the business posted $1.58 EPS. The business's revenue was up 47.9% compared to the same quarter last year. Analysts anticipate that Broadcom Inc. will post 10.24 earnings per share for the current year.

Broadcom Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 22nd were given a dividend of $0.65 per share. The ex-dividend date of this dividend was Monday, June 22nd. This represents a $2.60 dividend on an annualized basis and a yield of 0.7%. Broadcom's dividend payout ratio is currently 43.33%.

Insider Buying and Selling

In other Broadcom news, insider Mark David Brazeal sold 25,000 shares of the firm's stock in a transaction on Friday, July 10th. The stock was sold at an average price of $401.33, for a total transaction of $10,033,250.00. Following the transaction, the insider owned 194,989 shares in the company, valued at $78,254,935.37. This trade represents a 11.36% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gayla J. Delly sold 1,890 shares of Broadcom stock in a transaction on Wednesday, July 8th. The shares were sold at an average price of $385.38, for a total value of $728,368.20. Following the completion of the transaction, the director directly owned 31,326 shares of the company's stock, valued at $12,072,413.88. This represents a 5.69% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 61,644 shares of company stock worth $24,016,214. 1.90% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have recently commented on AVGO. Royal Bank Of Canada lifted their target price on Broadcom from $360.00 to $400.00 and gave the stock a "sector perform" rating in a research note on Thursday, June 4th. Rosenblatt Securities restated a "buy" rating and issued a $500.00 price target on shares of Broadcom in a research note on Thursday, June 4th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a $515.00 price target (up from $430.00) on shares of Broadcom in a report on Thursday, June 4th. Citigroup reiterated a "buy" rating on shares of Broadcom in a report on Thursday, June 4th. Finally, Wells Fargo & Company reissued an "overweight" rating and issued a $545.00 price objective (up from $430.00) on shares of Broadcom in a research report on Thursday, May 14th. Twenty-eight analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $493.24.

More Broadcom News

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom’s custom-silicon and XPU opportunity remains a key long-term catalyst. Analysts and commentators point to accelerating AI infrastructure spending, major customer agreements, and potential growth in custom chips and networking. Broadcom: XPU Growth Trajectory Underestimated, Stock A Bargain
• Positive Sentiment: Wall Street’s average price target implies substantial upside from recent trading levels, supporting the bullish view that the market may be underestimating Broadcom’s AI growth trajectory. Broadcom is Down Over 3 Months: One Wall Street Pro Sees 60%+ Gains Ahead
• Positive Sentiment: Continued institutional interest, including purchases by GAMCO Investors and Cathie Wood’s reported investment, provides some additional support for the stock’s long-term AI investment case. Cathie Wood buys $16.2 million of Broadcom

Broadcom Profile

Broadcom Inc NASDAQ: AVGO is a global technology company that designs, develops and supplies semiconductor and infrastructure software solutions for a broad range of markets. The company's semiconductor business provides components and systems for wired and wireless communications, enterprise and cloud storage, networking and broadband access, serving original equipment manufacturers, cloud service providers, telecommunications carriers and industrial customers worldwide. Broadcom is headquartered in Irvine, California, and operates globally with research, development and sales organizations across North America, Europe and Asia.

On the semiconductor side, Broadcom's portfolio includes system-on-chip (SoC) and application-specific integrated circuit (ASIC) solutions, radio-frequency and connectivity components, Ethernet switching and PHY devices, storage adapters and controllers, optical transceivers and other networking silicon.

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