Campbell Newman Asset Management Inc. Reduces Position in Broadcom Inc. $AVGO

Key Points

• Campbell Newman Asset Management Inc. has reduced its stake in Broadcom Inc. by 7.8%, now holding 251,939 shares valued at approximately $69.4 million, making it their second largest investment.
• Institutional investors own approximately 76.43% of Broadcom, with recent significant increases from firms like Nuveen LLC and Price T Rowe Associates.
• Broadcom reported a quarterly earnings per share (EPS) of $1.69, surpassing estimates and reflecting a year-over-year revenue increase of 22%.

Campbell Newman Asset Management Inc. decreased its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 7.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 251,939 shares of the semiconductor manufacturer's stock after selling 21,248 shares during the period. Broadcom accounts for about 5.5% of Campbell Newman Asset Management Inc.'s investment portfolio, making the stock its 2nd largest holding. Campbell Newman Asset Management Inc.'s holdings in Broadcom were worth $69,447,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Nuveen LLC bought a new position in shares of Broadcom in the first quarter valued at $6,649,117,000. Price T Rowe Associates Inc. MD increased its holdings in shares of Broadcom by 37.8% in the first 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 buying an additional 17,985,046 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Broadcom by 16.7% in the first quarter. Goldman Sachs Group Inc. now owns 31,854,414 shares of the semiconductor manufacturer's stock valued at $5,333,384,000 after buying an additional 4,550,647 shares in the last quarter. Deutsche Bank AG increased its holdings in shares of Broadcom by 36.9% in the first quarter. Deutsche Bank AG now owns 15,758,895 shares of the semiconductor manufacturer's stock valued at $2,638,512,000 after buying an additional 4,245,345 shares in the last quarter. Finally, Alliancebernstein L.P. increased its holdings in shares of Broadcom by 16.0% in the first quarter. Alliancebernstein L.P. now owns 29,513,814 shares of the semiconductor manufacturer's stock valued at $4,941,498,000 after buying an additional 4,077,910 shares in the last quarter. Institutional investors own 76.43% of the company's stock.

Broadcom Stock Up 0.1%

AVGO stock opened at $338.37 on Friday. The company has a current ratio of 1.50, a quick ratio of 1.37 and a debt-to-equity ratio of 0.86. Broadcom Inc. has a 1 year low of $138.10 and a 1 year high of $374.23. The company has a fifty day simple moving average of $318.43 and a 200 day simple moving average of $257.34. The firm has a market cap of $1.60 trillion, a PE ratio of 86.32, a PEG ratio of 1.87 and a beta of 1.20.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its quarterly earnings data on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.66 by $0.03. Broadcom had a net margin of 31.59% and a return on equity of 36.60%. The business had revenue of $15.95 billion during the quarter, compared to analyst estimates of $15.82 billion. During the same quarter in the previous year, the business earned $1.24 EPS. Broadcom's quarterly revenue was up 22.0% compared to the same quarter last year. Broadcom has set its Q4 2025 guidance at EPS. Sell-side analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 22nd were paid a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Monday, September 22nd. Broadcom's payout ratio is presently 60.20%.

Insiders Place Their Bets

In other Broadcom news, CEO Hock E. Tan sold 100,000 shares of the business's stock in a transaction on Tuesday, September 23rd. The shares were sold at an average price of $339.58, for a total transaction of $33,958,000.00. Following the completion of the transaction, the chief executive officer owned 725,638 shares of the company's stock, valued at $246,412,152.04. The trade was a 12.11% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Henry Samueli sold 368,797 shares of the company's stock in a transaction dated Wednesday, September 24th. The shares were sold at an average price of $337.91, for a total transaction of $124,620,194.27. Following the sale, the director owned 37,722,534 shares of the company's stock, valued at $12,746,821,463.94. This trade represents a 0.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have acquired 3,550 shares of company stock worth $1,227,869 and have sold 666,071 shares worth $225,623,008. 2.00% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Macquarie assumed coverage on Broadcom in a report on Monday, September 15th. They issued an "outperform" rating and a $420.00 price target on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Broadcom from $325.00 to $400.00 and gave the stock an "overweight" rating in a research report on Friday, September 5th. Sanford C. Bernstein lifted their price objective on shares of Broadcom from $295.00 to $400.00 and gave the stock an "outperform" rating in a research report on Friday, September 5th. Argus lifted their price objective on shares of Broadcom from $285.00 to $375.00 and gave the stock a "buy" rating in a research report on Monday, September 8th. Finally, Wall Street Zen upgraded shares of Broadcom from a "hold" rating to a "buy" rating in a research report on Saturday, September 6th. Three equities research analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $357.22.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.