Broadcom Inc. $AVGO Shares Sold by Parnassus Investments LLC

Key Points

• Parnassus Investments LLC reduced its holdings in Broadcom Inc. by 10.3% in Q1, owning approximately 4.77 million shares after selling 545,394 shares during the quarter.
• Institutional investors collectively own 76.43% of Broadcom's stock, with notable increases in holdings from Vanguard Group Inc. and Price T Rowe Associates Inc..
• Broadcom's recent quarterly earnings showed a profit of $1.58 EPS, beating estimates and reflecting a 20.2% increase in year-over-year revenue.

Parnassus Investments LLC lessened its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 10.3% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,765,518 shares of the semiconductor manufacturer's stock after selling 545,394 shares during the quarter. Broadcom accounts for 1.9% of Parnassus Investments LLC's portfolio, making the stock its 20th largest position. Parnassus Investments LLC owned 0.10% of Broadcom worth $797,891,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in Broadcom by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 477,220,137 shares of the semiconductor manufacturer's stock valued at $79,900,968,000 after purchasing an additional 2,085,534 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in Broadcom by 37.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 65,509,579 shares of the semiconductor manufacturer's stock valued at $10,968,270,000 after purchasing an additional 17,985,046 shares in the last quarter. Nuveen LLC acquired a new stake in Broadcom during the 1st quarter valued at approximately $6,649,117,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Broadcom by 1.7% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 34,401,379 shares of the semiconductor manufacturer's stock valued at $7,975,616,000 after purchasing an additional 581,704 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Broadcom by 3.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 33,852,310 shares of the semiconductor manufacturer's stock valued at $5,668,134,000 after purchasing an additional 1,043,948 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company's stock.

Insiders Place Their Bets

In related news, Director Henry Samueli sold 473,898 shares of the firm's stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $265.33, for a total value of $125,739,356.34. Following the sale, the director owned 38,188,575 shares of the company's stock, valued at approximately $10,132,574,604.75. This trade represents a 1.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Justine Page sold 800 shares of the firm's stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $307.46, for a total value of $245,968.00. Following the completion of the sale, the director directly owned 23,782 shares in the company, valued at approximately $7,312,013.72. This trade represents a 3.25% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 830,516 shares of company stock worth $217,286,457. 2.00% of the stock is currently owned by insiders.

Broadcom Trading Up 2.8%

Shares of NASDAQ AVGO opened at $308.65 on Friday. The company has a market cap of $1.45 trillion, a price-to-earnings ratio of 115.60, a price-to-earnings-growth ratio of 2.14 and a beta of 1.15. Broadcom Inc. has a 12-month low of $134.90 and a 12-month high of $317.35. The company has a current ratio of 1.08, a quick ratio of 0.98 and a debt-to-equity ratio of 0.89. The stock's 50 day simple moving average is $286.79 and its 200 day simple moving average is $234.25.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its quarterly earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.57 by $0.01. The business had revenue of $15 billion for the quarter, compared to the consensus estimate of $14.98 billion. Broadcom had a return on equity of 35.49% and a net margin of 22.64%.The business's revenue was up 20.2% on a year-over-year basis. During the same quarter last year, the business posted $10.96 EPS. Broadcom has set its Q3 2025 guidance at EPS. Equities research analysts expect that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 20th were issued a $0.59 dividend. 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 dividend payout ratio (DPR) is 88.39%.

Analyst Upgrades and Downgrades

AVGO has been the topic of a number of research analyst reports. Erste Group Bank raised Broadcom from a "hold" rating to a "buy" rating in a report on Thursday, June 5th. Mizuho increased their target price on Broadcom from $315.00 to $320.00 and gave the stock an "outperform" rating in a report on Wednesday, July 16th. Truist Financial set a $295.00 target price on Broadcom and gave the stock a "buy" rating in a report on Friday, June 6th. Wall Street Zen downgraded Broadcom from a "buy" rating to a "hold" rating in a report on Monday. Finally, Rosenblatt Securities increased their target price on Broadcom from $223.00 to $340.00 and gave the stock a "buy" rating in a report on Friday, June 6th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, Broadcom presently has an average rating of "Buy" and a consensus target price of $301.79.

Broadcom 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.

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