OMERS ADMINISTRATION Corp Trims Stock Holdings in Broadcom Inc. $AVGO

Key Points

• OMERS ADMINISTRATION Corp reduced its stake in Broadcom Inc. by 0.8%, now holding 1,242,294 shares valued at approximately $208 million.
• Brokerage reports on Broadcom show a mixed outlook, with rating changes including a downgrade from "buy" to "hold" by Wall Street Zen, and a target price increase to $315 from Citigroup.
• Broadcom's recent earnings report showed a 20.2% revenue increase year-over-year, with earnings per share of $1.58 beating estimates.

OMERS ADMINISTRATION Corp decreased its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 0.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,242,294 shares of the semiconductor manufacturer's stock after selling 9,500 shares during the quarter. Broadcom accounts for 1.8% of OMERS ADMINISTRATION Corp's portfolio, making the stock its 13th largest position. OMERS ADMINISTRATION Corp's holdings in Broadcom were worth $207,997,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. PARUS FINANCE UK Ltd lifted its position in Broadcom by 175.3% in the 1st quarter. PARUS FINANCE UK Ltd now owns 100,578 shares of the semiconductor manufacturer's stock worth $16,840,000 after buying an additional 64,038 shares during the last quarter. Keener Financial Planning LLC lifted its position in Broadcom by 34.8% in the 1st quarter. Keener Financial Planning LLC now owns 890 shares of the semiconductor manufacturer's stock worth $149,000 after buying an additional 230 shares during the last quarter. Diversify Wealth Management LLC lifted its position in Broadcom by 5.6% in the 1st quarter. Diversify Wealth Management LLC now owns 38,016 shares of the semiconductor manufacturer's stock worth $6,365,000 after buying an additional 2,016 shares during the last quarter. OMNI 360 Wealth Inc. lifted its position in Broadcom by 51.6% in the 1st quarter. OMNI 360 Wealth Inc. now owns 2,980 shares of the semiconductor manufacturer's stock worth $499,000 after buying an additional 1,014 shares during the last quarter. Finally, Gamco Investors INC. ET AL lifted its position in Broadcom by 1.3% in the 1st quarter. Gamco Investors INC. ET AL now owns 54,406 shares of the semiconductor manufacturer's stock worth $9,109,000 after buying an additional 700 shares during the last quarter. Institutional investors own 76.43% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on AVGO. Cantor Fitzgerald reiterated an "overweight" rating and issued a $300.00 price objective on shares of Broadcom in a research report on Friday, June 6th. HSBC upgraded Broadcom from a "hold" rating to a "buy" rating and set a $400.00 price objective for the company in a research report on Tuesday, June 24th. Arete Research upgraded Broadcom to a "strong-buy" rating in a research report on Monday, July 28th. Mizuho boosted their price objective on Broadcom from $315.00 to $320.00 and gave the company an "outperform" rating in a research report on Wednesday, July 16th. Finally, Wells Fargo & Company boosted their price objective on Broadcom from $230.00 to $255.00 and gave the company an "equal weight" rating in a research report on Friday, June 6th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, Broadcom currently has an average rating of "Buy" and an average target price of $301.79.

Insider Activity

In related news, CEO Hock E. Tan sold 117,758 shares of the company's stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $252.91, for a total value of $29,782,175.78. Following the sale, the chief executive officer directly owned 1,014,152 shares of the company's stock, valued at $256,489,182.32. This represents a 10.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Charlie B. Kawwas sold 10,000 shares of the company's stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $252.88, for a total value of $2,528,800.00. Following the completion of the sale, the insider directly owned 789,784 shares in the company, valued at approximately $199,720,577.92. The trade was a 1.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 830,516 shares of company stock valued at $217,286,457. 2.00% of the stock is owned by insiders.

Broadcom Trading Down 3.6%

Shares of AVGO traded down $11.26 during mid-day trading on Friday, hitting $297.39. 21,581,160 shares of the company's stock traded hands, compared to its average volume of 17,621,516. The company has a quick ratio of 0.98, a current ratio of 1.08 and a debt-to-equity ratio of 0.89. Broadcom Inc. has a 1 year low of $134.90 and a 1 year high of $317.35. The firm has a market capitalization of $1.40 trillion, a P/E ratio of 111.38, a PEG ratio of 2.11 and a beta of 1.15. The business's 50-day moving average price is $287.74 and its 200-day moving average price is $234.67.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.57 by $0.01. Broadcom had a return on equity of 35.49% and a net margin of 22.64%.The firm had revenue of $15 billion for the quarter, compared to analysts' expectations of $14.98 billion. During the same period in the previous year, the firm earned $10.96 earnings per share. The business's revenue was up 20.2% compared to the same quarter last year. Broadcom has set its Q3 2025 guidance at EPS. As a group, sell-side analysts forecast that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 20th were paid a dividend of $0.59 per share. The ex-dividend date of this dividend was Friday, June 20th. This represents a $2.36 annualized dividend and a dividend yield of 0.8%. Broadcom's payout ratio is 88.39%.

Broadcom Company Profile

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.