Broadcom Inc. $AVGO Shares Sold by BXM Wealth LLC

Key Points

• BXM Wealth LLC slashed its Broadcom stake by 89.7% in the first quarter, selling 129,412 shares and leaving it with 14,877 shares worth about $4.6 million.
• Broadcom continues to draw attention for its AI growth story, with analysts and headlines highlighting strong demand for custom AI silicon and OpenAI-related accelerator work as a major long-term opportunity.
• The stock has faced some pressure from insider selling and post-earnings volatility, even though Broadcom recently beat quarterly earnings and revenue estimates and maintained a bullish analyst backdrop.

BXM Wealth LLC cut its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 89.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,877 shares of the semiconductor manufacturer's stock after selling 129,412 shares during the period. Broadcom comprises approximately 3.5% of BXM Wealth LLC's investment portfolio, making the stock its 3rd biggest position. BXM Wealth LLC's holdings in Broadcom were worth $4,604,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. ROSS JOHNSON & Associates LLC boosted its stake in Broadcom by 1,320.0% in the fourth quarter. ROSS JOHNSON & Associates LLC now owns 71 shares of the semiconductor manufacturer's stock valued at $25,000 after buying an additional 66 shares in the last quarter. Networth Advisors LLC raised its stake in Broadcom by 546.2% during the first quarter. Networth Advisors LLC now owns 84 shares of the semiconductor manufacturer's stock worth $26,000 after acquiring an additional 71 shares in the last quarter. SWAN Capital LLC raised its stake in Broadcom by 261.9% during the fourth quarter. SWAN Capital LLC now owns 76 shares of the semiconductor manufacturer's stock worth $26,000 after acquiring an additional 55 shares in the last quarter. Miller Global Investments LLC bought a new position in shares of Broadcom in the fourth quarter worth about $31,000. Finally, Nvest Wealth Strategies Inc. bought a new position in shares of Broadcom in the fourth quarter worth about $33,000. Institutional investors and hedge funds own 76.43% of the company's stock.

Trending Headlines about Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Wall Street remains upbeat on Broadcom’s AI growth story, with UBS reaffirming a Buy rating and $485 target on strong AI ASIC demand tied to customers like OpenAI and Anthropic. UBS Reaffirms Buy Rating on Broadcom (AVGO) Amid AI ASIC Demand and OpenAI, Anthropic Growth
• Positive Sentiment: Several recent pieces point to Broadcom’s expanding role in custom AI silicon and its OpenAI-related accelerator work, reinforcing the long-term revenue opportunity from AI infrastructure spending.
• Positive Sentiment: Analysts continue to view recent weakness as a buying opportunity, with multiple firms maintaining bullish targets well above the current share price.
• Neutral Sentiment: Commentary this week also highlighted Broadcom as a major beneficiary of the broader semiconductor and AI trade, but much of that optimism simply reiterates an already well-known investment thesis.
• Negative Sentiment: Director Justine Page sold 1,602 shares at $373.86, adding to recent insider-selling headlines that can make investors cautious. SEC Form 4 filing for Justine Page sale
• Negative Sentiment: Broadcom’s post-earnings pullback has continued to draw attention, as investors worry the company’s strong results and guidance still weren’t enough to satisfy very high expectations.

Insiders Place Their Bets

In related news, insider S. Ram Velaga sold 8,000 shares of the firm's stock in a transaction on Friday, April 10th. The stock was sold at an average price of $370.52, for a total transaction of $2,964,160.00. Following the completion of the transaction, the insider directly owned 57,932 shares of the company's stock, valued at $21,464,964.64. This trade represents a 12.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Justine Page sold 1,602 shares of Broadcom stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $373.86, for a total value of $598,923.72. Following the transaction, the director directly owned 17,426 shares in the company, valued at $6,514,884.36. The trade was a 8.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 60,987 shares of company stock valued at $21,899,980 over the last ninety days. 1.90% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on AVGO shares. Citigroup reaffirmed a "buy" rating on shares of Broadcom in a report on Thursday, June 4th. Royal Bank Of Canada increased their price objective on shares of Broadcom from $360.00 to $400.00 and gave the company a "sector perform" rating in a research note on Thursday, June 4th. Truist Financial raised their target price on shares of Broadcom from $545.00 to $550.00 and gave the company a "buy" rating in a research report on Thursday, June 4th. DA Davidson boosted their target price on shares of Broadcom from $375.00 to $400.00 and gave the stock a "neutral" rating in a research note on Thursday, June 4th. Finally, KeyCorp reiterated an "overweight" rating and set a $575.00 price target (up from $500.00) on shares of Broadcom in a report on Thursday, June 4th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Broadcom currently has an average rating of "Moderate Buy" and an average target price of $493.24.

Broadcom Stock Down 2.4%

NASDAQ:AVGO opened at $360.45 on Friday. The firm's 50 day simple moving average is $409.17 and its 200 day simple moving average is $362.34. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.24 and a quick ratio of 2.01. Broadcom Inc. has a one year low of $269.58 and a one year high of $495.00. The company has a market cap of $1.71 trillion, a PE ratio of 60.08, a P/E/G ratio of 0.65 and a beta of 1.45.

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

Broadcom Dividend Announcement

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

About Broadcom

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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