Steamboat Capital Partners LLC Has $13.39 Million Stock Position in Broadcom Inc. $AVGO

Key Points

• Steamboat Capital Partners LLC reduced its holdings in Broadcom by 7.4%, now owning 80,000 shares valued at approximately $13.4 million.
• Insiders, including CEO Hock E. Tan and CFO Kirsten M. Spears, have sold a combined total of over 830,000 shares in the past 90 days, with Tan's sale representing a 10.4% decrease in his ownership.
• Broadcom's stock has seen a market capitalization of $1.40 trillion and recently reported a 20.2% year-over-year revenue increase with earnings surpassing analyst expectations.

Steamboat Capital Partners LLC decreased its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 7.4% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 80,000 shares of the semiconductor manufacturer's stock after selling 6,437 shares during the quarter. Broadcom comprises about 4.1% of Steamboat Capital Partners LLC's portfolio, making the stock its 5th largest holding. Steamboat Capital Partners LLC's holdings in Broadcom were worth $13,394,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of Broadcom by 0.4% during the first quarter. Vanguard Group Inc. now owns 477,220,137 shares of the semiconductor manufacturer's stock worth $79,900,968,000 after acquiring an additional 2,085,534 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Broadcom by 37.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 65,509,579 shares of the semiconductor manufacturer's stock worth $10,968,270,000 after acquiring an additional 17,985,046 shares during the last quarter. Nuveen LLC bought a new position in Broadcom during the first quarter valued at $6,649,117,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Broadcom by 1.7% during the fourth 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 during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Broadcom by 3.2% during the first 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 during the last quarter. Institutional investors own 76.43% of the company's stock.

Insider Activity at Broadcom

In related news, Director Justine Page sold 800 shares of Broadcom stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $307.46, for a total transaction of $245,968.00. Following the completion of the sale, the director owned 23,782 shares in the company, valued at $7,312,013.72. This trade represents a 3.25% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Kirsten M. Spears sold 36,350 shares of Broadcom stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $261.27, for a total transaction of $9,497,164.50. Following the sale, the chief financial officer owned 325,587 shares of the company's stock, valued at $85,066,115.49. The trade was a 10.04% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 830,516 shares of company stock worth $217,286,457 over the last ninety days. 2.00% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Barclays increased their price objective on shares of Broadcom from $215.00 to $265.00 and gave the company an "overweight" rating in a research report on Monday, June 9th. Citigroup increased their price objective on shares of Broadcom from $285.00 to $315.00 and gave the company a "buy" rating in a research report on Monday, July 7th. The Goldman Sachs Group reiterated a "buy" rating and set a $340.00 price objective on shares of Broadcom in a research report on Wednesday, August 13th. Rosenblatt Securities increased their price objective on shares of Broadcom from $223.00 to $340.00 and gave the company a "buy" rating in a research report on Friday, June 6th. Finally, Piper Sandler increased their price objective on shares of Broadcom from $300.00 to $315.00 and gave the company an "overweight" rating in a research report on Friday, August 22nd. Three research analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, Broadcom currently has an average rating of "Buy" and a consensus target price of $301.79.

Broadcom Trading Down 3.6%

Shares of Broadcom stock traded down $11.26 during trading on Monday, hitting $297.39. The stock had a trading volume of 21,581,160 shares, compared to its average volume of 17,630,644. The firm's fifty day simple moving average is $288.61 and its 200-day simple moving average is $235.11. The stock has a market cap of $1.40 trillion, a PE ratio of 111.38, a PEG ratio of 2.11 and a beta of 1.16. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.08 and a quick ratio of 0.98. Broadcom Inc. has a 12 month low of $134.90 and a 12 month high of $317.35.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its 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 firm had revenue of $15 billion during the quarter, compared to analyst estimates of $14.98 billion. Broadcom had a net margin of 22.64% and a return on equity of 35.49%. The business's revenue was up 20.2% on a year-over-year basis. During the same quarter last year, the business earned $10.96 EPS. Broadcom has set its Q3 2025 guidance at EPS. As a group, sell-side analysts expect that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 20th were paid a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend was Friday, June 20th. Broadcom's dividend payout ratio (DPR) 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.