Clark Capital Management Group Inc. Sells 9,132 Shares of Broadcom Inc. $AVGO

Key Points

• Clark Capital Management Group Inc. reduced its stake in Broadcom Inc. by 1.3%, holding 715,988 shares valued at approximately $119.9 million as of the most recent SEC filing.
• Several other hedge funds increased their positions in Broadcom, with Price T Rowe Associates raising its investment by 37.8%, owning over 65 million shares valued at around $11 billion.
• Insider trading activity included CEO Hock E. Tan selling 117,758 shares, representing a 10.4% decrease in his position, amidst a broader trend of insiders selling over 830,000 shares in the last ninety days.

Clark Capital Management Group Inc. cut its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 1.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 715,988 shares of the semiconductor manufacturer's stock after selling 9,132 shares during the period. Broadcom comprises approximately 0.9% of Clark Capital Management Group Inc.'s investment portfolio, making the stock its 21st largest holding. Clark Capital Management Group Inc.'s holdings in Broadcom were worth $119,878,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also bought and sold shares of the stock. Waddell & Associates LLC lifted its stake in Broadcom by 2.1% during the 1st quarter. Waddell & Associates LLC now owns 2,091 shares of the semiconductor manufacturer's stock valued at $350,000 after acquiring an additional 43 shares in the last quarter. True Wealth Design LLC increased its position in shares of Broadcom by 7.2% during 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. Wescott Financial Advisory Group LLC increased its position in shares of Broadcom by 3.8% during the 1st quarter. Wescott Financial Advisory Group LLC now owns 1,326 shares of the semiconductor manufacturer's stock valued at $222,000 after purchasing an additional 48 shares during the last quarter. Martingale Asset Management L P increased its position in shares of Broadcom by 1.3% during the 1st quarter. Martingale Asset Management L P now owns 3,876 shares of the semiconductor manufacturer's stock valued at $649,000 after purchasing an additional 48 shares during the last quarter. Finally, Monterey Private Wealth Inc. increased its position in shares of Broadcom by 1.8% during the 1st quarter. Monterey Private Wealth Inc. now owns 2,780 shares of the semiconductor manufacturer's stock valued at $465,000 after purchasing an additional 48 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on AVGO shares. Bank of America raised their target price on Broadcom from $300.00 to $400.00 and gave the company a "buy" rating in a research report on Friday. Susquehanna raised their target price on Broadcom from $280.00 to $300.00 and gave the company a "positive" rating in a research report on Friday, June 6th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $300.00 target price on shares of Broadcom in a research report on Friday, June 6th. Redburn Atlantic started coverage on Broadcom in a research report on Wednesday, May 28th. They set a "buy" rating and a $301.00 target price for the company. Finally, HSBC raised Broadcom from a "hold" rating to a "buy" rating and set a $400.00 target price for the company in a research report on Tuesday, June 24th. Three research analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, Broadcom has an average rating of "Buy" and an average price target of $351.00.

Broadcom Price Performance

NASDAQ AVGO traded up $28.79 during trading hours on Friday, hitting $334.89. The company had a trading volume of 78,318,626 shares, compared to its average volume of 17,635,120. Broadcom Inc. has a 52 week low of $134.90 and a 52 week high of $356.34. The firm has a 50 day simple moving average of $292.09 and a 200 day simple moving average of $237.31. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.98 and a current ratio of 1.08. The firm has a market capitalization of $1.58 trillion, a price-to-earnings ratio of 85.43, a PEG ratio of 2.38 and a beta of 1.16.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 EPS for the quarter, topping the consensus estimate of $1.66 by $0.03. Broadcom had a return on equity of 37.17% and a net margin of 31.59%.The business had revenue of $15.95 billion during the quarter, compared to the consensus estimate of $15.82 billion. During the same quarter last year, the company earned $1.24 EPS. The firm's revenue was up 22.0% compared to the same quarter last year. Broadcom has set its Q4 2025 guidance at EPS. Equities research analysts expect that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 22nd will be paid a $0.59 dividend. The ex-dividend date is Monday, September 22nd. This represents a $2.36 annualized dividend and a yield of 0.7%. Broadcom's dividend payout ratio (DPR) is currently 60.20%.

Insiders Place Their Bets

In other Broadcom news, Director Henry Samueli sold 473,898 shares of the firm's stock in a transaction dated 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 completion of the transaction, the director owned 38,188,575 shares in the company, valued at $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 Securities & Exchange Commission, which is available through this hyperlink. Also, insider Mark David Brazeal sold 50,000 shares of Broadcom stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $253.28, for a total value of $12,664,000.00. Following the sale, the insider owned 415,956 shares of the company's stock, valued at approximately $105,353,335.68. This trade represents a 10.73% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 830,516 shares of company stock worth $217,286,457 over the last quarter. Insiders own 2.00% of the company's stock.

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.