Broadcom Inc. $AVGO Shares Sold by Diversify Wealth Management LLC

Key Points

• Diversify Wealth Management LLC reduced its Broadcom stake by 5.0% in the fourth quarter, selling 2,115 shares and ending with 40,333 shares valued at about $14.3 million.
• Broadcom reported better-than-expected quarterly results, posting earnings of $2.05 per share on revenue of $19.31 billion, with revenue up 29.5% year over year.
• Despite some insider and institutional selling, Wall Street remains upbeat: several analysts kept Buy ratings and raised price targets, with Broadcom also benefiting from strong AI demand sentiment.

Diversify Wealth Management LLC decreased its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 5.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 40,333 shares of the semiconductor manufacturer's stock after selling 2,115 shares during the quarter. Broadcom comprises about 0.7% of Diversify Wealth Management LLC's investment portfolio, making the stock its 27th largest holding. Diversify Wealth Management LLC's holdings in Broadcom were worth $14,302,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Baring Financial LLC boosted its holdings in shares of Broadcom by 2.2% during the fourth quarter. Baring Financial LLC now owns 1,359 shares of the semiconductor manufacturer's stock valued at $470,000 after acquiring an additional 29 shares during the period. Five Oceans Advisors boosted its holdings in shares of Broadcom by 0.4% during the fourth quarter. Five Oceans Advisors now owns 8,191 shares of the semiconductor manufacturer's stock valued at $2,835,000 after acquiring an additional 29 shares during the period. Jackson Hole Capital Partners LLC boosted its holdings in shares of Broadcom by 1.4% during the third quarter. Jackson Hole Capital Partners LLC now owns 2,170 shares of the semiconductor manufacturer's stock valued at $716,000 after acquiring an additional 30 shares during the period. Private Wealth Partners LLC boosted its holdings in shares of Broadcom by 0.7% during the third quarter. Private Wealth Partners LLC now owns 4,273 shares of the semiconductor manufacturer's stock valued at $1,410,000 after acquiring an additional 30 shares during the period. Finally, Planning Alternatives Ltd. ADV boosted its holdings in shares of Broadcom by 1.4% during the third quarter. Planning Alternatives Ltd. ADV now owns 2,168 shares of the semiconductor manufacturer's stock valued at $715,000 after acquiring an additional 30 shares during the period. Institutional investors and hedge funds own 76.43% of the company's stock.

Broadcom Stock Performance

AVGO stock opened at $416.79 on Thursday. The company has a market capitalization of $1.97 trillion, a P/E ratio of 81.40, a PEG ratio of 0.87 and a beta of 1.43. The company has a 50-day simple moving average of $360.94 and a 200 day simple moving average of $353.52. Broadcom Inc. has a fifty-two week low of $221.60 and a fifty-two week high of $437.68. The company has a quick ratio of 1.73, a current ratio of 1.90 and a debt-to-equity ratio of 0.80.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its quarterly earnings data on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 earnings per share for the quarter, topping the consensus estimate of $2.03 by $0.02. The business had revenue of $19.31 billion during the quarter, compared to the consensus estimate of $19.10 billion. Broadcom had a net margin of 36.57% and a return on equity of 38.61%. The company's quarterly revenue was up 29.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.60 earnings per share. Sell-side analysts predict that Broadcom Inc. will post 9.95 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Monday, March 23rd were given a $0.65 dividend. The ex-dividend date was Monday, March 23rd. This represents a $2.60 annualized dividend and a yield of 0.6%. Broadcom's payout ratio is 50.78%.

Key Stories Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Citi raised its price target on Broadcom to $500 from $475 and kept a Buy rating, saying the company remains one of Wall Street’s top semiconductor picks heading into earnings on continued AI demand. Broadcom Enters Earnings As Citi's Top Semiconductor Pick
• Positive Sentiment: Multiple reports highlighted Broadcom’s growing role in custom AI silicon and AI infrastructure, including talk of a large financing package to support its chipmaking buildout, reinforcing the bullish long-term AI investment case. Why Broadcom (AVGO) Is Becoming a Bigger Force in Custom AI Silicon
• Positive Sentiment: Fund-flow headlines were supportive, with Chris Rokos reportedly buying Broadcom and Mirova US LLC increasing its stake, suggesting institutional confidence remains strong. Broadcom Inc. (AVGO): Chris Rokos Is Buying This Chip Stock
• Neutral Sentiment: Broadcom sued EU antitrust regulators over a request for U.S. legal documents tied to the VMware deal, which adds legal noise but is not yet a clear business fundamental issue. Broadcom sues EU antitrust regulators over request for US legal documents
• Negative Sentiment: Recent trading showed Broadcom easing after a strong run, and some commentary warned that tech valuations are becoming crowded, which may be prompting profit-taking in the stock. Broadcom Inc. (AVGO) Dips More Than Broader Market: What You Should Know
• Negative Sentiment: Some holders also trimmed positions, including PRIMECAP Management and Cincinnati Specialty Underwriters, adding a modest overhang to sentiment. PRIMECAP Management Co trims Broadcom stake by 12,410 shares

Insider Transactions at Broadcom

In other Broadcom news, Director Justine Page sold 2,018 shares of the business's stock in a transaction dated Wednesday, April 8th. The shares were sold at an average price of $353.00, for a total value of $712,354.00. Following the sale, the director directly owned 18,164 shares in the company, valued at approximately $6,411,892. The trade was a 10.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Gayla J. Delly sold 1,000 shares of the business's stock in a transaction dated Thursday, April 9th. The stock was sold at an average price of $358.31, for a total transaction of $358,310.00. Following the completion of the sale, the director owned 32,352 shares in the company, valued at approximately $11,592,045.12. This trade represents a 3.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 324,282 shares of company stock valued at $106,425,249 in the last quarter. 1.90% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

AVGO has been the subject of several analyst reports. Rosenblatt Securities reissued a "buy" rating and set a $500.00 price target on shares of Broadcom in a report on Tuesday, April 7th. Benchmark reissued a "buy" rating and set a $485.00 price target on shares of Broadcom in a report on Thursday, March 5th. Mizuho reissued an "outperform" rating and set a $480.00 price target on shares of Broadcom in a report on Thursday, April 16th. Morgan Stanley upped their price objective on shares of Broadcom from $462.00 to $470.00 and gave the stock an "overweight" rating in a report on Friday, March 6th. Finally, Bank of America reduced their price objective on shares of Broadcom from $500.00 to $450.00 and set a "buy" rating for the company in a report on Thursday, March 5th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $436.13.

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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