NewEdge Advisors LLC Sells 11,196 Shares of Broadcom Inc. $AVGO

Key Points

• NewEdge Advisors LLC has reduced its stake in Broadcom Inc. by 1.1%, now holding 993,215 shares valued at approximately $166.29 million, which accounts for 1.0% of its total holdings.
• Multiple analysts have revised their price targets for Broadcom, with Evercore ISI setting a new target of $342.00, indicating a positive outlook on the stock's performance.
• Broadcom has declared a quarterly dividend of $0.59, resulting in an annualized yield of 0.8%, with a payout ratio of 88.39%.

NewEdge Advisors LLC decreased its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 1.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 993,215 shares of the semiconductor manufacturer's stock after selling 11,196 shares during the quarter. Broadcom accounts for approximately 1.0% of NewEdge Advisors LLC's holdings, making the stock its 11th largest position. NewEdge Advisors LLC's holdings in Broadcom were worth $166,294,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Brighton Jones LLC boosted its position in Broadcom by 21.8% during the 4th quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer's stock worth $6,882,000 after acquiring an additional 5,322 shares during the period. Revolve Wealth Partners LLC raised its position in shares of 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 purchasing an additional 756 shares during the period. Bank Pictet & Cie Europe AG raised its position in shares of Broadcom by 16.4% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 221,199 shares of the semiconductor manufacturer's stock worth $51,283,000 after purchasing an additional 31,225 shares during the period. Dimension Capital Management LLC acquired a new stake in shares of Broadcom during the fourth quarter worth $313,000. Finally, Clear Street Derivatives LLC raised its position in Broadcom by 342.2% during the fourth quarter. Clear Street Derivatives LLC now owns 107,900 shares of the semiconductor manufacturer's stock valued at $25,016,000 after buying an additional 83,500 shares during the period. Institutional investors and hedge funds own 76.43% of the company's stock.

Analyst Ratings Changes

Several research firms recently weighed in on AVGO. Redburn Atlantic began coverage on Broadcom in a research report on Wednesday, May 28th. They set a "buy" rating and a $301.00 price target on the stock. KeyCorp upped their price target on Broadcom from $330.00 to $400.00 and gave the stock an "overweight" rating in a research note on Friday. Citigroup increased their target price on Broadcom from $315.00 to $350.00 and gave the company a "buy" rating in a research note on Friday. Erste Group Bank upgraded Broadcom from a "hold" rating to a "buy" rating in a research report on Thursday, June 5th. Finally, Oppenheimer reissued an "outperform" rating and issued a $360.00 target price (up from $325.00) on shares of Broadcom in a report on Friday. Three investment analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $351.00.

Broadcom Trading Up 9.4%

AVGO stock traded up $28.79 during midday trading on Friday, hitting $334.89. 78,318,626 shares of the company's stock were exchanged, compared to its average volume of 17,635,120. The company has a market cap of $1.58 trillion, a PE ratio of 85.43, a price-to-earnings-growth ratio of 2.38 and a beta of 1.16. The stock's fifty day moving average price is $292.09 and its 200-day moving average price is $237.31. Broadcom Inc. has a one year low of $134.90 and a one year high of $356.34. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.98 and a current ratio of 1.08.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its quarterly 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. The company had revenue of $15.95 billion for the quarter, compared to analyst estimates of $15.82 billion. Broadcom had a return on equity of 37.17% and a net margin of 31.59%.The company's quarterly revenue was up 22.0% compared to the same quarter last year. During the same period in the previous year, the company posted $1.24 earnings per share. Broadcom has set its Q4 2025 guidance at EPS. Research analysts predict 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 dividend of $0.59 per share. The ex-dividend date is Monday, September 22nd. This represents a $2.36 annualized dividend and a yield of 0.7%. Broadcom's dividend payout ratio is presently 88.39%.

Insider Activity

In other Broadcom news, CEO Hock E. Tan sold 40,000 shares of the company's stock in a transaction on Thursday, June 26th. The stock was sold at an average price of $268.29, for a total transaction of $10,731,600.00. Following the completion of the sale, the chief executive officer directly owned 482,836 shares in the company, valued at $129,540,070.44. This represents a 7.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 value of $795,390.00. Following the completion of the transaction, the director owned 33,352 shares of the company's stock, valued at $8,842,615.76. The trade was a 8.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 830,516 shares of company stock valued at $217,286,457. Corporate insiders own 2.00% of the company's stock.

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.