Laffer Tengler Investments Inc. Lowers Position in Broadcom Inc. $AVGO

Key Points

• Laffer Tengler Investments Inc. has reduced its holdings in Broadcom by 1.6%, retaining 106,924 shares, making it the firm's second largest stock position.
• Broadcom's stock is currently trading at $289.60 with a market capitalization of $1.36 trillion, while its recent quarterly earnings showed a revenue of $15 billion, exceeding analyst estimates.
• Insider selling is notable, with key executives unloading significant shares recently, reflecting an 8.25% and 10.04% decrease in ownership for a director and CFO, respectively.

Laffer Tengler Investments Inc. decreased its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 1.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 106,924 shares of the semiconductor manufacturer's stock after selling 1,736 shares during the quarter. Broadcom makes up 3.8% of Laffer Tengler Investments Inc.'s investment portfolio, making the stock its 2nd biggest holding. Laffer Tengler Investments Inc.'s holdings in Broadcom were worth $17,902,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Brighton Jones LLC boosted its holdings in Broadcom by 21.8% in the fourth quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer's stock valued at $6,882,000 after acquiring an additional 5,322 shares during the last quarter. Revolve Wealth Partners LLC increased its stake in Broadcom by 10.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 7,997 shares of the semiconductor manufacturer's stock valued at $1,854,000 after purchasing an additional 756 shares in the last quarter. Bank Pictet & Cie Europe AG raised its holdings in shares of Broadcom by 16.4% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 221,199 shares of the semiconductor manufacturer's stock worth $51,283,000 after acquiring an additional 31,225 shares during the last quarter. Renaissance Technologies LLC purchased a new stake in shares of Broadcom in the fourth quarter worth approximately $602,000. Finally, Banco Bilbao Vizcaya Argentaria S.A. lifted its holdings in shares of Broadcom by 3.8% in the fourth quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 515,388 shares of the semiconductor manufacturer's stock valued at $120,070,000 after purchasing an additional 18,845 shares in the last quarter. 76.43% of the stock is owned by institutional investors.

Broadcom Stock Performance

AVGO stock traded up $4.40 during mid-day trading on Friday, hitting $294.00. The company had a trading volume of 16,278,404 shares, compared to its average volume of 17,508,776. The firm has a market cap of $1.38 trillion, a PE ratio of 110.11, a price-to-earnings-growth ratio of 2.09 and a beta of 1.15. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.98 and a current ratio of 1.08. Broadcom Inc. has a 12 month low of $134.90 and a 12 month high of $317.35. The stock's fifty day moving average price is $282.85 and its two-hundred day moving average price is $232.34.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share for the quarter, beating analysts' consensus estimates of $1.57 by $0.01. The firm had revenue of $15 billion during the quarter, compared to the consensus estimate of $14.98 billion. Broadcom had a net margin of 22.64% and a return on equity of 35.49%. The company's revenue was up 20.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $10.96 EPS. Broadcom has set its Q3 2025 guidance at EPS. On average, analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 20th were given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend was Friday, June 20th. Broadcom's dividend payout ratio (DPR) is currently 88.39%.

Analysts Set New Price Targets

AVGO has been the subject of several recent research reports. Benchmark upped their price target on Broadcom from $255.00 to $315.00 and gave the stock a "buy" rating in a report on Friday, June 6th. Arete Research raised shares of Broadcom to a "strong-buy" rating in a report on Monday, July 28th. Evercore ISI reiterated an "outperform" rating and issued a $304.00 target price (up previously from $267.00) on shares of Broadcom in a research note on Friday, June 6th. Mizuho raised their price target on shares of Broadcom from $315.00 to $320.00 and gave the company an "outperform" rating in a research report on Wednesday, July 16th. Finally, Redburn Atlantic started coverage on shares of Broadcom in a research report on Wednesday, May 28th. They issued a "buy" rating and a $301.00 price objective for the company. Three investment analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, Broadcom currently has an average rating of "Buy" and an average price target of $298.67.

Insider Transactions at Broadcom

In related news, CFO Kirsten M. Spears sold 36,350 shares of Broadcom stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $261.27, for a total value of $9,497,164.50. Following the completion of the sale, the chief financial officer owned 325,587 shares of the company's stock, valued at approximately $85,066,115.49. This trade represents a 10.04% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Hock E. Tan sold 40,000 shares of the business's stock in a transaction dated Thursday, June 26th. The shares were sold at an average price of $268.29, for a total value of $10,731,600.00. Following the completion of the sale, the chief executive officer owned 482,836 shares in the company, valued at $129,540,070.44. This represents a 7.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 830,516 shares of company stock valued at $217,286,457. 2.00% of the stock is currently owned by insiders.

Broadcom Profile

Broadcom Inc designs, develops, and supplies various semiconductor devices with a focus on complex digital and mixed signal complementary metal oxide semiconductor based devices and analog III-V based products worldwide. The company operates in two segments, Semiconductor Solutions and Infrastructure Software.