Great Lakes Advisors LLC Sells 24,908 Shares of Broadcom Inc. $AVGO

Key Points

• Great Lakes Advisors LLC reduced its holdings in Broadcom Inc. by 4%, selling 24,908 shares in the 1st quarter, leaving it with 597,124 shares valued at approximately $100.74 million.
• Broadcom reported $1.69 earnings per share for the last quarter, surpassing estimates and showing a 22% year-over-year revenue growth to $15.95 billion.
• The company announced a quarterly dividend of $0.59 per share, with an annualized dividend yield of 0.7%, set to be paid on September 30th.

Great Lakes Advisors LLC reduced its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 4.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 597,124 shares of the semiconductor manufacturer's stock after selling 24,908 shares during the quarter. Great Lakes Advisors LLC's holdings in Broadcom were worth $100,738,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Sunbeam Capital Management LLC acquired a new position in shares of Broadcom in the 4th quarter worth $28,000. Vermillion Wealth Management Inc. purchased a new stake in shares of Broadcom during the fourth quarter valued at $30,000. Barnes Dennig Private Wealth Management LLC acquired a new position in shares of Broadcom in the 1st quarter valued at $25,000. Cheviot Value Management LLC purchased a new position in Broadcom in the 1st quarter worth about $25,000. Finally, Inlight Wealth Management LLC acquired a new stake in Broadcom during the 1st quarter worth about $26,000. Institutional investors and hedge funds own 76.43% of the company's stock.

Insider Buying and Selling

In other news, Director Gayla J. Delly sold 3,000 shares of the stock in a transaction on Thursday, June 26th. The shares were 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 in the company, valued at $8,842,615.76. This represents a 8.25% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Justine Page sold 800 shares of Broadcom stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $307.46, for a total transaction of $245,968.00. Following the completion of the sale, the director directly owned 23,782 shares of the company's stock, valued at approximately $7,312,013.72. The trade was a 3.25% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 820,516 shares of company stock valued at $214,757,657. 2.00% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Cantor Fitzgerald reissued an "overweight" rating and issued a $300.00 target price on shares of Broadcom in a research report on Friday, June 6th. Redburn Atlantic began coverage on shares of Broadcom in a research report on Wednesday, May 28th. They set a "buy" rating and a $301.00 price objective on the stock. Susquehanna boosted their target price on shares of Broadcom from $280.00 to $300.00 and gave the company a "positive" rating in a research note on Friday, June 6th. Cowen reaffirmed a "buy" rating on shares of Broadcom in a research report on Friday, June 6th. Finally, Mizuho upped their price target on Broadcom from $320.00 to $355.00 and gave the company an "outperform" rating in a research report on Friday, September 5th. Three research analysts have rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $351.92.

Broadcom Stock Up 9.8%

Shares of NASDAQ AVGO traded up $32.90 during mid-day trading on Wednesday, reaching $369.57. The company had a trading volume of 51,004,415 shares, compared to its average volume of 22,956,638. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.37 and a current ratio of 1.50. Broadcom Inc. has a twelve month low of $138.10 and a twelve month high of $372.97. The stock's 50 day moving average is $294.92 and its 200-day moving average is $238.95. The stock has a market capitalization of $1.74 trillion, a PE ratio of 64.25, a price-to-earnings-growth ratio of 1.86 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 EPS for the quarter, beating analysts' consensus estimates of $1.66 by $0.03. Broadcom had a return on equity of 36.60% and a net margin of 31.59%.The firm had revenue of $15.95 billion for the quarter, compared to the consensus estimate of $15.82 billion. During the same quarter in the previous year, the company posted $1.24 earnings per share. The business's quarterly revenue was up 22.0% compared to the same quarter last year. Broadcom has set its Q4 2025 guidance at EPS. As a group, equities analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 22nd will be paid a $0.59 dividend. The ex-dividend date is Monday, September 22nd. This represents a $2.36 dividend on an annualized basis and a yield of 0.6%. Broadcom's payout ratio is 60.20%.

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.