Broadcom Inc. $AVGO Shares Sold by Stoneridge Investment Partners LLC

Key Points

• Stoneridge Investment Partners LLC reduced its shares in Broadcom Inc. by 53.4%, selling 16,387 shares to end with 14,310 shares valued at approximately $2.4 million.
• Insider selling was notable, with both CFO Kirsten M. Spears and Director Henry Samueli selling significant amounts of stock, decreasing their holdings by 13.46% and 1.23% respectively.
• Analysts have been bullish on Broadcom, with HSBC and Bank of America upgrading their ratings and raising price targets, contributing to an average "Buy" rating and a consensus price target of $295.96.

Stoneridge Investment Partners LLC lessened its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 53.4% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 14,310 shares of the semiconductor manufacturer's stock after selling 16,387 shares during the quarter. Broadcom makes up 2.0% of Stoneridge Investment Partners LLC's holdings, making the stock its 13th biggest position. Stoneridge Investment Partners LLC's holdings in Broadcom were worth $2,396,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. True Wealth Design LLC grew its stake in shares of Broadcom by 7.2% in the 4th quarter. True Wealth Design LLC now owns 712 shares of the semiconductor manufacturer's stock valued at $165,000 after purchasing an additional 48 shares during the last quarter. Fulton Breakefield Broenniman LLC lifted its holdings in shares of Broadcom by 2.4% in the 1st quarter. Fulton Breakefield Broenniman LLC now owns 2,130 shares of the semiconductor manufacturer's stock valued at $357,000 after buying an additional 50 shares during the period. American Financial Advisors LLC lifted its holdings in shares of Broadcom by 3.8% in the 1st quarter. American Financial Advisors LLC now owns 1,432 shares of the semiconductor manufacturer's stock valued at $240,000 after buying an additional 52 shares during the period. GS Investments Inc. lifted its holdings in shares of Broadcom by 0.5% in the 1st quarter. GS Investments Inc. now owns 11,397 shares of the semiconductor manufacturer's stock valued at $1,908,000 after buying an additional 52 shares during the period. Finally, FCA Corp TX lifted its holdings in shares of Broadcom by 0.5% in the 1st quarter. FCA Corp TX now owns 10,846 shares of the semiconductor manufacturer's stock valued at $1,816,000 after buying an additional 54 shares during the period. Institutional investors and hedge funds own 76.43% of the company's stock.

Insider Activity at Broadcom

In other Broadcom news, CFO Kirsten M. Spears sold 56,310 shares of the stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $251.75, for a total transaction of $14,176,042.50. Following the transaction, the chief financial officer owned 361,937 shares of the company's stock, valued at $91,117,639.75. This represents a 13.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Henry Samueli sold 473,898 shares of the stock in a transaction 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 transaction, the director directly owned 38,188,575 shares in the company, valued at approximately $10,132,574,604.75. This represents a 1.23% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 830,516 shares of company stock worth $217,286,457. Company insiders own 2.00% of the company's stock.

Analyst Upgrades and Downgrades

AVGO has been the subject of several recent analyst reports. HSBC raised Broadcom from a "hold" rating to a "buy" rating and set a $400.00 price target for the company in a report on Tuesday, June 24th. Bank of America raised their price target on Broadcom from $240.00 to $300.00 and gave the company a "buy" rating in a report on Friday, June 6th. Susquehanna raised their price target on Broadcom from $280.00 to $300.00 and gave the company a "positive" rating in a report on Friday, June 6th. Redburn Atlantic initiated coverage on Broadcom in a report on Wednesday, May 28th. They issued a "buy" rating and a $301.00 price target for the company. Finally, Morgan Stanley set a $338.00 price target on Broadcom and gave the company an "overweight" rating in a report on Wednesday, July 30th. Three analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $295.96.

Broadcom Price Performance

Shares of NASDAQ:AVGO opened at $294.91 on Wednesday. The business's fifty day moving average price is $280.51 and its two-hundred day moving average price is $230.93. The stock has a market cap of $1.39 trillion, a PE ratio of 110.45, a price-to-earnings-growth ratio of 2.17 and a beta of 1.15. 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 Inc. has a one year low of $134.90 and a one year high of $317.35.

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

Broadcom Dividend Announcement

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

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