Channel Wealth LLC Trims Position in Broadcom Inc. $AVGO

Key Points

• Channel Wealth LLC reduced its stake in Broadcom Inc. by 27.9% during the second quarter, selling 4,676 shares and holding 12,107 shares afterward, valued at approximately $3.34 million.
• Several major investors, including Vanguard Group and Price T Rowe Associates, increased their positions in Broadcom, with institutional investors collectively owning 76.43% of the stock.
• Broadcom announced a quarterly dividend of $0.59 per share, with an upcoming payment date of September 30th for shareholders recorded by September 22nd, translating to an annualized yield of 0.7%.

Channel Wealth LLC trimmed its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 27.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 12,107 shares of the semiconductor manufacturer's stock after selling 4,676 shares during the period. Channel Wealth LLC's holdings in Broadcom were worth $3,337,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. lifted 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 purchasing 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 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 purchased a new stake in Broadcom during the first quarter valued at about $6,649,117,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Broadcom by 2.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 35,243,467 shares of the semiconductor manufacturer's stock valued at $5,900,814,000 after acquiring an additional 842,088 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of 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 buying an additional 1,043,948 shares during the period. Institutional investors and hedge funds own 76.43% of the company's stock.

Insider Transactions at Broadcom

In other Broadcom news, Director Henry Samueli sold 473,898 shares of Broadcom stock in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $265.33, for a total transaction of $125,739,356.34. Following the completion of the sale, the director owned 38,188,575 shares of the company's stock, valued at $10,132,574,604.75. The trade was a 1.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Hock E. Tan sold 148,154 shares of the stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $336.67, for a total value of $49,879,007.18. Following the sale, the chief executive officer directly owned 825,998 shares of the company's stock, valued at approximately $278,088,746.66. This trade represents a 15.21% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have purchased 3,550 shares of company stock worth $1,227,869 and have sold 840,522 shares worth $236,959,124. 2.00% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts recently weighed in on AVGO shares. Sanford C. Bernstein boosted their price objective on Broadcom from $295.00 to $400.00 and gave the stock an "outperform" rating in a research report on Friday, September 5th. Macquarie started coverage on shares of Broadcom in a research note on Monday, September 15th. They issued an "outperform" rating and a $420.00 price objective on the stock. Evercore ISI restated an "outperform" rating and set a $342.00 price objective (up previously from $304.00) on shares of Broadcom in a report on Thursday, September 4th. Argus raised their price target on Broadcom from $285.00 to $375.00 and gave the stock a "buy" rating in a research report on Monday, September 8th. Finally, Hsbc Global Res upgraded Broadcom from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, June 24th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, Broadcom currently has a consensus rating of "Buy" and an average target price of $356.48.

Broadcom Stock Down 0.1%

Shares of NASDAQ:AVGO traded down $0.41 during mid-day trading on Friday, hitting $344.94. 41,147,297 shares of the company traded hands, compared to its average volume of 27,762,164. The company has a current ratio of 1.50, a quick ratio of 1.37 and a debt-to-equity ratio of 0.86. The stock has a 50-day moving average price of $308.05 and a two-hundred day moving average price of $247.33. Broadcom Inc. has a 12-month low of $138.10 and a 12-month high of $374.23. The stock has a market cap of $1.63 trillion, a P/E ratio of 87.99, a P/E/G ratio of 1.91 and a beta of 1.16.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its quarterly earnings data on Thursday, September 4th. The semiconductor manufacturer reported $1.69 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 firm had revenue of $15.95 billion during the quarter, compared to analyst estimates of $15.82 billion. During the same quarter last year, the business posted $1.24 EPS. The company's revenue for the quarter was up 22.0% on a year-over-year basis. Broadcom has set its Q4 2025 guidance at EPS. On average, equities research analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 22nd will be given a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Monday, September 22nd. Broadcom's dividend payout ratio is currently 60.20%.

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.