Broadcom Inc. $AVGO Shares Sold by Nemes Rush Group LLC

Key Points

• Nemes Rush Group LLC trimmed its Broadcom stake by 3.5% in the fourth quarter, selling 5,924 shares while still making AVGO its largest holding at about 5.3% of its portfolio.
• Broadcom continues to draw attention from institutions and analysts, with several hedge funds adding shares and multiple firms raising price targets; JPMorgan lifted its target to $580 and the consensus rating remains Moderate Buy.
• The company reported strong quarterly results, including EPS of $2.44 and revenue of $22.19 billion, and it also announced a quarterly dividend of $0.65 per share payable June 30.

Nemes Rush Group LLC lessened its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 3.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 162,136 shares of the semiconductor manufacturer's stock after selling 5,924 shares during the quarter. Broadcom comprises approximately 5.3% of Nemes Rush Group LLC's investment portfolio, making the stock its biggest holding. Nemes Rush Group LLC's holdings in Broadcom were worth $56,115,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in AVGO. Brighton Jones LLC increased its position in Broadcom by 21.8% in the 4th quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer's stock valued at $6,882,000 after acquiring an additional 5,322 shares in the last quarter. Revolve Wealth Partners LLC increased its position in Broadcom by 10.4% in the 4th quarter. Revolve Wealth Partners LLC now owns 7,997 shares of the semiconductor manufacturer's stock valued at $1,854,000 after acquiring an additional 756 shares in the last quarter. United Bank increased its position in Broadcom by 76.5% in the 1st quarter. United Bank now owns 2,339 shares of the semiconductor manufacturer's stock valued at $392,000 after acquiring an additional 1,014 shares in the last quarter. Sivia Capital Partners LLC increased its position in Broadcom by 10.1% in the 2nd quarter. Sivia Capital Partners LLC now owns 12,693 shares of the semiconductor manufacturer's stock valued at $3,499,000 after acquiring an additional 1,160 shares in the last quarter. Finally, Capital & Planning LLC increased its position in Broadcom by 10.5% in the 2nd 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 in the last quarter. Institutional investors and hedge funds own 76.43% of the company's stock.

More Broadcom News

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Apollo Global Management and Blackstone are backing a $35 billion AI infrastructure platform tied to Broadcom’s custom chips and networking gear, with Anthropic’s capacity expansion as the initial use case. This reinforces Broadcom’s role in the AI buildout and could support long-term revenue growth. Article Title
• Positive Sentiment: Broadcom also announced a new AI infrastructure partnership with Apollo and Blackstone, adding another sign that its semiconductor and networking solutions remain central to enterprise AI expansion. Article Title
• Positive Sentiment: JPMorgan reportedly raised its outlook on Broadcom after the latest earnings report, signaling that major analysts still see value in the stock despite the recent pullback. Article Title
• Positive Sentiment: More than 40 analysts remain bullish on Broadcom, and several recent articles highlight upgraded ratings and higher price targets, which can help stabilize investor sentiment. Article Title

Insider Activity

In related news, CFO Kirsten M. Spears sold 36,292 shares of Broadcom stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $321.60, for a total transaction of $11,671,507.20. Following the transaction, the chief financial officer owned 327,760 shares of the company's stock, valued at $105,407,616. This trade represents a 9.97% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider S. Ram Velaga sold 38,841 shares of Broadcom stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $321.60, for a total transaction of $12,491,265.60. Following the transaction, the insider directly owned 96,147 shares in the company, valued at $30,920,875.20. The trade was a 28.77% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 324,282 shares of company stock worth $106,425,249 over the last quarter. 1.90% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. JPMorgan Chase & Co. raised their price objective on shares of Broadcom from $500.00 to $580.00 and gave the company an "overweight" rating in a research report on Thursday, June 4th. Benchmark raised their target price on shares of Broadcom from $485.00 to $545.00 and gave the company a "buy" rating in a research note on Thursday, June 4th. Evercore reaffirmed an "outperform" rating and issued a $582.00 target price on shares of Broadcom in a research note on Tuesday, May 19th. Bank of America raised their target price on shares of Broadcom from $450.00 to $530.00 and gave the company a "buy" rating in a research note on Thursday, June 4th. Finally, Morgan Stanley set a $502.00 target price on shares of Broadcom and gave the company an "overweight" rating in a research note on Thursday, June 4th. One research analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, Broadcom currently has a consensus rating of "Moderate Buy" and a consensus price target of $490.13.

Broadcom Stock Down 1.1%

Shares of NASDAQ AVGO opened at $392.16 on Wednesday. The firm has a market capitalization of $1.86 trillion, a PE ratio of 65.36, a price-to-earnings-growth ratio of 0.72 and a beta of 1.41. The company has a current ratio of 2.24, a quick ratio of 2.01 and a debt-to-equity ratio of 0.71. Broadcom Inc. has a 1 year low of $241.40 and a 1 year high of $495.00. The firm's 50-day moving average is $399.79 and its 200-day moving average is $362.70.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its quarterly earnings data on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share for the quarter, topping the consensus estimate of $2.40 by $0.04. Broadcom had a net margin of 38.85% and a return on equity of 41.61%. The business had revenue of $22.19 billion for the quarter, compared to analyst estimates of $22.13 billion. During the same quarter last year, the firm earned $1.58 EPS. Broadcom's quarterly revenue was up 47.9% compared to the same quarter last year. Equities analysts expect that Broadcom Inc. will post 9.96 EPS for the current year.

Broadcom Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 22nd will be paid a dividend of $0.65 per share. The ex-dividend date of this dividend is Monday, June 22nd. This represents a $2.60 annualized dividend and a yield of 0.7%. Broadcom's dividend payout ratio (DPR) is presently 43.33%.

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.

Want to see what other hedge funds are holding AVGO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Broadcom Inc. (NASDAQ:AVGO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.