Broadcom Inc. $AVGO is Red Spruce Capital LLC's 5th Largest Position

Key Points

• Red Spruce Capital LLC has reduced its stake in Broadcom Inc. by 17.7%, making the stock its 5th largest holding, valued at approximately $7.82 million after selling 6,088 shares.
• Broadcom reported earnings of $1.69 per share for the last quarter, exceeding analyst expectations of $1.66 and achieving a year-over-year revenue increase of 22%.
• The company recently announced a quarterly dividend of $0.59 per share, with an annualized dividend yield of 0.7% and a payout ratio of 60.20%.

Red Spruce Capital LLC trimmed its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 17.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 28,369 shares of the semiconductor manufacturer's stock after selling 6,088 shares during the period. Broadcom comprises about 3.4% of Red Spruce Capital LLC's holdings, making the stock its 5th biggest holding. Red Spruce Capital LLC's holdings in Broadcom were worth $7,820,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Waddell & Associates LLC lifted its holdings in shares of Broadcom by 2.1% during the first quarter. Waddell & Associates LLC now owns 2,091 shares of the semiconductor manufacturer's stock valued at $350,000 after purchasing an additional 43 shares during the last quarter. Challenger Wealth Management lifted its holdings in shares of Broadcom by 1.3% during the first quarter. Challenger Wealth Management now owns 3,504 shares of the semiconductor manufacturer's stock valued at $587,000 after purchasing an additional 45 shares during the last quarter. True Wealth Design LLC lifted its holdings in shares of Broadcom by 7.2% during the fourth quarter. True Wealth Design LLC now owns 712 shares of the semiconductor manufacturer's stock valued at $165,000 after purchasing an additional 48 shares during the last quarter. Wescott Financial Advisory Group LLC lifted its holdings in shares of Broadcom by 3.8% during the first quarter. Wescott Financial Advisory Group LLC now owns 1,326 shares of the semiconductor manufacturer's stock valued at $222,000 after purchasing an additional 48 shares during the last quarter. Finally, Martingale Asset Management L P lifted its holdings in shares of Broadcom by 1.3% during the first quarter. Martingale Asset Management L P now owns 3,876 shares of the semiconductor manufacturer's stock valued at $649,000 after purchasing an additional 48 shares during the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

Broadcom Stock Performance

Shares of AVGO stock opened at $359.87 on Monday. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.50 and a quick ratio of 1.37. Broadcom Inc. has a fifty-two week low of $138.10 and a fifty-two week high of $374.23. The stock's 50-day moving average is $300.31 and its two-hundred day moving average is $242.50. The firm has a market cap of $1.70 trillion, a P/E ratio of 91.80, a PEG ratio of 1.99 and a beta of 1.16.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share for the quarter, topping the consensus estimate of $1.66 by $0.03. Broadcom had a return on equity of 36.60% and a net margin of 31.59%.The company had revenue of $15.95 billion for the quarter, compared to analyst estimates of $15.82 billion. During the same period in the prior year, the firm posted $1.24 EPS. The business's revenue was up 22.0% compared to the same quarter last year. Broadcom has set its Q4 2025 guidance at EPS. Analysts predict that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 22nd will be issued a dividend of $0.59 per share. The ex-dividend date of this dividend is Monday, September 22nd. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.7%. Broadcom's dividend payout ratio is currently 60.20%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on AVGO shares. Wells Fargo & Company upped their target price on Broadcom from $255.00 to $345.00 and gave the company an "equal weight" rating in a report on Friday, September 5th. Wall Street Zen raised Broadcom from a "hold" rating to a "buy" rating in a research report on Saturday, September 6th. UBS Group upped their price target on Broadcom from $290.00 to $345.00 and gave the company a "buy" rating in a research report on Monday, August 25th. TD Cowen upped their price target on Broadcom from $355.00 to $370.00 and gave the company a "buy" rating in a research report on Friday, September 5th. Finally, Evercore ISI reissued an "outperform" rating and set a $342.00 price target (up from $304.00) on shares of Broadcom in a research report on Thursday, September 4th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $354.04.

Insider Buying and Selling at Broadcom

In other news, Director Gayla J. Delly sold 3,000 shares of the stock in a transaction dated Thursday, June 26th. The stock was sold at an average price of $265.13, for a total transaction of $795,390.00. Following the transaction, the director owned 33,352 shares of the company's stock, valued at approximately $8,842,615.76. This represents a 8.25% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Hock E. Tan sold 148,154 shares of the stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $336.67, for a total value of $49,879,007.18. Following the transaction, the chief executive officer directly owned 825,998 shares in the company, valued at approximately $278,088,746.66. This represents a 15.21% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have acquired 3,550 shares of company stock worth $1,227,869 and have sold 850,112 shares worth $234,654,209. Insiders own 2.00% of the company's stock.

About Broadcom

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.

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