D.B. Root & Company LLC Decreases Stake in Broadcom Inc. $AVGO

Key Points

• D.B. Root & Company LLC decreased its stake in Broadcom Inc. by 18.5%, selling 1,024 shares, leaving them with 4,501 shares valued at approximately $754,000.
• Director Justine Page and CEO Hock E. Tan both sold shares recently, contributing to a total of 830,516 shares sold by insiders over the last 90 days, equating to approximately $217 million in transactions.
• Broadcom's stock is actively trading at around $289.60, with recent earnings showing a profit of $1.58 per share, slightly surpassing analysts' expectations.

D.B. Root & Company LLC lowered its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 18.5% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,501 shares of the semiconductor manufacturer's stock after selling 1,024 shares during the quarter. D.B. Root & Company LLC's holdings in Broadcom were worth $754,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in Broadcom by 0.4% in the 1st 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 in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Broadcom by 37.8% in the 1st 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 purchasing an additional 17,985,046 shares in the last quarter. Northern Trust Corp lifted its stake in Broadcom by 12.0% in the 4th quarter. Northern Trust Corp now owns 49,087,351 shares of the semiconductor manufacturer's stock worth $11,380,411,000 after purchasing an additional 5,258,925 shares in the last quarter. Nuveen LLC purchased a new stake in Broadcom in the 1st quarter worth $6,649,117,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Broadcom by 1.7% in the 4th 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 worth $7,975,616,000 after purchasing an additional 581,704 shares in the last quarter. Hedge funds and other institutional investors own 76.43% of the company's stock.

Analysts Set New Price Targets

Several analysts have commented on AVGO shares. Barclays boosted their price target on shares of Broadcom from $215.00 to $265.00 and gave the stock an "overweight" rating in a research note on Monday, June 9th. Bank of America increased their price target on shares of Broadcom from $240.00 to $300.00 and gave the company a "buy" rating in a report on Friday, June 6th. Citigroup increased their price target on shares of Broadcom from $285.00 to $315.00 and gave the company a "buy" rating in a report on Monday, July 7th. Cowen reaffirmed a "buy" rating on shares of Broadcom in a report on Friday, June 6th. Finally, Evercore ISI reaffirmed an "outperform" rating and issued a $304.00 price target (up previously from $267.00) on shares of Broadcom in a report on Friday, June 6th. Three research analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $300.96.

Insider Activity at Broadcom

In related news, Director Justine Page sold 800 shares of the stock in a transaction that occurred on 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 of the company's stock, valued at $7,312,013.72. This represents a 3.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Kirsten M. Spears sold 36,350 shares of the stock in a transaction that occurred on 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 directly 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 valued at $217,286,457 over the last three months. Company insiders own 2.00% of the company's stock.

Broadcom Trading Up 1.2%

AVGO stock traded up $3.67 during mid-day trading on Tuesday, reaching $297.90. The company had a trading volume of 7,354,715 shares, compared to its average volume of 25,785,844. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.08 and a quick ratio of 0.98. The firm has a 50 day moving average of $283.69 and a 200 day moving average of $232.83. Broadcom Inc. has a 12 month low of $134.90 and a 12 month high of $317.35. The company has a market capitalization of $1.40 trillion, a PE ratio of 111.93, a price-to-earnings-growth ratio of 2.09 and a beta of 1.15.

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

Broadcom Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 20th were given a dividend of $0.59 per share. The ex-dividend date of this dividend was Friday, June 20th. This represents a $2.36 dividend on an annualized basis and a yield of 0.8%. Broadcom's dividend payout ratio is presently 88.39%.

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.