Broadcom Inc. $AVGO Shares Sold by Concentric Capital Strategies LP

Key Points

• Concentric Capital Strategies LP reduced its stake in Broadcom Inc. by 77.5%, owning only 12,300 shares after selling 42,256 shares in the first quarter.
• Vanguard Group and Price T Rowe Associates significantly increased their holdings in Broadcom during the same period, with Vanguard acquiring additional shares worth approximately $79.9 billion.
• Despite recent sales by insiders, Broadcom's stock holds a consensus "Buy" rating from analysts, with an average target price set at $302.58.

Concentric Capital Strategies LP lessened its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 77.5% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 12,300 shares of the semiconductor manufacturer's stock after selling 42,256 shares during the quarter. Concentric Capital Strategies LP's holdings in Broadcom were worth $2,059,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Barnes Dennig Private Wealth Management LLC purchased a new stake in shares of Broadcom in the 1st quarter worth $25,000. Cheviot Value Management LLC purchased a new stake in shares of Broadcom in the 1st quarter worth $25,000. Inlight Wealth Management LLC purchased a new stake in shares of Broadcom in the 1st quarter worth $26,000. Sunbeam Capital Management LLC purchased a new stake in shares of Broadcom in the 4th quarter worth $28,000. Finally, Vermillion Wealth Management Inc. purchased a new stake in shares of Broadcom in the 4th quarter worth $30,000. Institutional investors own 76.43% of the company's stock.

Broadcom Stock Up 9.4%

Broadcom stock traded up $28.79 during midday trading on Friday, reaching $334.89. The company's stock had a trading volume of 78,318,626 shares, compared to its average volume of 17,635,120. The stock's 50-day simple moving average is $292.09 and its 200-day simple moving average is $237.31. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.08 and a quick ratio of 0.98. Broadcom Inc. has a 52-week low of $134.90 and a 52-week high of $356.34. The stock has a market capitalization of $1.58 trillion, a P/E ratio of 85.43, a PEG ratio of 2.38 and a beta of 1.16.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its quarterly earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 EPS for the quarter, beating analysts' consensus estimates of $1.66 by $0.03. Broadcom had a return on equity of 37.17% and a net margin of 31.59%.The company had revenue of $15.95 billion during the quarter, compared to analysts' expectations of $15.82 billion. During the same period last year, the business posted $1.24 earnings per share. The firm's revenue was up 22.0% compared to the same quarter last year. Broadcom has set its Q4 2025 guidance at EPS. On average, sell-side analysts expect that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Dividend Announcement

The company 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 $0.59 dividend. 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 Ratings Changes

Several equities research analysts have weighed in on the company. Hsbc Global Res upgraded Broadcom from a "hold" rating to a "strong-buy" rating in a report on Tuesday, June 24th. The Goldman Sachs Group reiterated a "buy" rating and issued a $340.00 target price on shares of Broadcom in a report on Wednesday, August 13th. Oppenheimer restated an "outperform" rating and set a $360.00 price objective (up from $325.00) on shares of Broadcom in a research note on Friday. Wall Street Zen upgraded Broadcom from a "hold" rating to a "buy" rating in a research note on Saturday. Finally, Bank of America upped their price objective on Broadcom from $300.00 to $400.00 and gave the stock a "buy" rating in a research note on Friday. Three research analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $351.00.

Insiders Place Their Bets

In other news, insider Mark David Brazeal sold 50,000 shares of the stock in a transaction dated Monday, June 23rd. The stock was sold at an average price of $253.28, for a total value of $12,664,000.00. Following the transaction, the insider directly owned 415,956 shares of the company's stock, valued at approximately $105,353,335.68. This represents a 10.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Charlie B. Kawwas sold 10,000 shares of the stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $252.88, for a total value of $2,528,800.00. Following the completion of the transaction, the insider directly owned 789,784 shares in the company, valued at $199,720,577.92. This represents a 1.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 830,516 shares of company stock valued at $217,286,457. Insiders own 2.00% of the company's stock.

Broadcom Company 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.