Broadcom Inc. $AVGO Shares Sold by Ibex Wealth Advisors

Key Points

• Ibex Wealth Advisors cut its Broadcom stake by 13.1% in the first quarter, selling 22,002 shares and leaving it with 146,252 shares worth about $45.3 million. Broadcom remains its second-largest holding and represents 4.2% of the portfolio.
• Wall Street sentiment remains mostly positive, with 28 Buy ratings, one Strong Buy, and four Hold ratings. The consensus price target is $493.24, while UBS recently set a $485 target and DBS Bank upgraded the stock to a Moderate Buy.
• Broadcom continues to benefit from strong business momentum, including an expanded Apple agreement worth more than $30 billion through 2031 and solid quarterly earnings that beat estimates. The company reported 47.9% revenue growth year over year and also paid a quarterly dividend of $0.65 per share.

Ibex Wealth Advisors lessened its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 13.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 146,252 shares of the semiconductor manufacturer's stock after selling 22,002 shares during the quarter. Broadcom accounts for about 4.2% of Ibex Wealth Advisors' investment portfolio, making the stock its 2nd largest position. Ibex Wealth Advisors' holdings in Broadcom were worth $45,266,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently bought and sold shares of AVGO. Brighton Jones LLC grew its holdings in shares of Broadcom by 21.8% in the 4th quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer's stock worth $6,882,000 after purchasing an additional 5,322 shares during the last quarter. Revolve Wealth Partners LLC grew its stake in Broadcom by 10.4% during the fourth quarter. Revolve Wealth Partners LLC now owns 7,997 shares of the semiconductor manufacturer's stock worth $1,854,000 after buying an additional 756 shares during the last quarter. United Bank increased its holdings in shares of Broadcom by 76.5% during the first quarter. United Bank now owns 2,339 shares of the semiconductor manufacturer's stock worth $392,000 after buying an additional 1,014 shares in the last quarter. Sivia Capital Partners LLC increased its holdings in shares of Broadcom by 10.1% during the second quarter. Sivia Capital Partners LLC now owns 12,693 shares of the semiconductor manufacturer's stock worth $3,499,000 after buying an additional 1,160 shares in the last quarter. Finally, Capital & Planning LLC raised its stake in shares of Broadcom by 10.5% in the second quarter. Capital & Planning LLC now owns 3,983 shares of the semiconductor manufacturer's stock valued at $1,098,000 after acquiring an additional 378 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. UBS Group set a $485.00 price target on Broadcom and gave the stock a "buy" rating in a research report on Thursday, June 4th. Dbs Bank upgraded Broadcom to a "moderate buy" rating in a report on Thursday, June 18th. Weiss Ratings lowered Broadcom from a "buy (b)" rating to a "buy (b-)" rating in a research note on Friday, June 26th. Zacks Research cut Broadcom from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 21st. Finally, DA Davidson upped their price target on shares of Broadcom from $375.00 to $400.00 and gave the stock a "neutral" rating in a research report on Thursday, June 4th. One analyst has rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $493.24.

More 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

Broadcom Stock Performance

Shares of AVGO opened at $399.97 on Monday. The stock's fifty day simple moving average is $405.29 and its 200-day simple moving average is $364.28. The company has a quick ratio of 2.01, a current ratio of 2.24 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $1.90 trillion, a PE ratio of 66.66, a price-to-earnings-growth ratio of 0.70 and a beta of 1.45. Broadcom Inc. has a 12-month low of $269.58 and a 12-month high of $495.00.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.40 by $0.04. The company had revenue of $22.19 billion for the quarter, compared to the consensus estimate of $22.13 billion. Broadcom had a net margin of 38.85% and a return on equity of 41.61%. The company's revenue was up 47.9% compared to the same quarter last year. During the same period in the prior year, the company posted $1.58 EPS. As a group, research analysts predict 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. Shareholders 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 dividend on an annualized basis and a yield of 0.7%. Broadcom's dividend payout ratio (DPR) is presently 43.33%.

Insider Buying and Selling at Broadcom

In other Broadcom news, insider Mark David Brazeal sold 25,000 shares of the company's stock in a transaction on Wednesday, July 8th. The shares were sold at an average price of $379.19, for a total transaction of $9,479,750.00. Following the completion of the sale, the insider owned 219,989 shares in the company, valued at approximately $83,417,628.91. The trade was a 10.20% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Harry L. You purchased 1,000 shares of Broadcom stock in a transaction dated Thursday, June 11th. The stock was bought at an average price of $373.57 per share, for a total transaction of $373,570.00. Following the completion of the transaction, the director directly owned 38,466 shares in the company, valued at $14,369,743.62. The trade was a 2.67% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders sold a total of 36,644 shares of company stock valued at $13,982,964 in the last three months. Insiders own 1.90% of the company's stock.

Broadcom Company 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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