Broadcom Inc. $AVGO Shares Sold by Duncker Streett & Co. Inc.

Key Points

• Duncker Streett & Co. Inc. reduced its Broadcom stake by 4.6% in the first quarter, but Broadcom remains its largest holding at about 4.2% of the portfolio, valued at roughly $22.2 million.
• Broadcom’s latest earnings beat expectations, posting $2.44 EPS on $22.19 billion in revenue, with revenue up 47.9% year over year. The company also continues to draw bullish analyst sentiment, with a consensus rating of Moderate Buy and an average price target of $493.24.
• Insider activity was mixed: executive Mark David Brazeal sold 25,000 shares in July, while director Harry L. You bought 1,000 shares in June. Broadcom also paid a quarterly dividend of $0.65 per share, equal to a 0.7% annualized yield.

Duncker Streett & Co. Inc. cut its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 4.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 71,626 shares of the semiconductor manufacturer's stock after selling 3,447 shares during the period. Broadcom makes up approximately 4.2% of Duncker Streett & Co. Inc.'s holdings, making the stock its largest holding. Duncker Streett & Co. Inc.'s holdings in Broadcom were worth $22,169,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. ROSS JOHNSON & Associates LLC increased its holdings in Broadcom by 1,320.0% during the 4th quarter. ROSS JOHNSON & Associates LLC now owns 71 shares of the semiconductor manufacturer's stock valued at $25,000 after acquiring an additional 66 shares in the last quarter. Networth Advisors LLC raised its holdings in shares of Broadcom by 546.2% in 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 during the last quarter. SWAN Capital LLC boosted its stake in shares of Broadcom by 261.9% during the fourth quarter. SWAN Capital LLC now owns 76 shares of the semiconductor manufacturer's stock valued at $26,000 after acquiring an additional 55 shares during the last quarter. Miller Global Investments LLC acquired a new position in Broadcom in the 4th quarter valued at about $31,000. Finally, Nvest Wealth Strategies Inc. purchased a new stake in shares of Broadcom during the fourth quarter worth about $33,000. 76.43% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Mark David Brazeal sold 25,000 shares of the firm's stock in a transaction that occurred on Wednesday, July 8th. The stock was sold at an average price of $379.19, for a total value of $9,479,750.00. Following the sale, the insider directly owned 219,989 shares in the company, valued at $83,417,628.91. This trade represents a 10.20% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Harry L. You bought 1,000 shares of the business's stock in a transaction on Thursday, June 11th. The shares were acquired at an average cost of $373.57 per share, for a total transaction of $373,570.00. Following the purchase, the director directly owned 38,466 shares in the company, valued at $14,369,743.62. This represents a 2.67% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders sold 36,644 shares of company stock valued at $13,982,964. 1.90% of the stock is owned by corporate insiders.

Broadcom Stock Down 0.3%

Shares of AVGO stock traded down $1.14 during trading hours on Friday, hitting $399.97. 14,579,242 shares of the company were exchanged, compared to its average volume of 26,802,910. The business's 50-day simple moving average is $405.29 and its two-hundred day simple moving average is $364.13. Broadcom Inc. has a one year low of $269.58 and a one year high of $495.00. The stock has a market capitalization of $1.90 trillion, a price-to-earnings ratio of 66.66, a P/E/G ratio of 0.70 and a beta of 1.45. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.01 and a current ratio of 2.24.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share for the quarter, beating the consensus estimate of $2.40 by $0.04. The firm had revenue of $22.19 billion during 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 firm's revenue for the quarter was up 47.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.58 earnings per share. Sell-side analysts predict that Broadcom Inc. will post 10.24 EPS for the current fiscal year.

Broadcom Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 22nd were given a dividend of $0.65 per share. The ex-dividend date 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%.

Analysts Set New Price Targets

Several equities analysts recently commented on AVGO shares. Dbs Bank upgraded Broadcom to a "moderate buy" rating in a research note on Thursday, June 18th. Deutsche Bank Aktiengesellschaft restated a "buy" rating and issued a $515.00 price objective (up from $430.00) on shares of Broadcom in a report on Thursday, June 4th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $525.00 price target on shares of Broadcom in a research report on Thursday, June 4th. Seaport Research Partners reiterated a "neutral" rating on shares of Broadcom in a report on Wednesday, April 8th. Finally, UBS Group set a $485.00 target price on Broadcom and gave the company a "buy" rating in a report on Thursday, June 4th. One research analyst has rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $493.24.

Key Broadcom News

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom’s expanded Apple agreement, valued at more than $30 billion through 2031, strengthens visibility for revenue and highlights demand beyond AI chips. Why Broadcom Stock Rose Today
• Positive Sentiment: Analysts remain upbeat on Broadcom’s AI business, with Jefferies reiterating a Buy rating and a $550 price target as AI chip momentum improves. Broadcom’s (AVGO) AI Chip Momentum Keeps Wall Street Bullish
• Positive Sentiment: Broadcom is being viewed as a broader AI infrastructure winner because its networking products help connect large-scale AI systems, expanding the investment thesis beyond GPUs and custom chips. Broadcom stock's latest catalyst targets Nvidia where it looks strongest
• Neutral Sentiment: Some coverage notes Broadcom’s near-$2 trillion market value and strong AI revenue growth, but also suggests much of the good news may already be reflected in the stock. Broadcom Is Less Than 5% From the $2 Trillion Club -- and Apple Just Committed $30 Billion for More Chips
• Negative Sentiment: Erste Group downgraded Broadcom to Hold, citing valuation concerns, which may be limiting upside after the recent rally. Erste Group downgrades Broadcom to Hold citing valuation concerns

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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