Dodge & Cox Sells 2,790 Shares of Broadcom Inc. $AVGO

Key Points

• Dodge & Cox has reduced its holdings in Broadcom Inc. by 11.9%, selling 2,790 shares, which leaves them with a total of 20,670 shares valued at approximately $3.46 million.
• Institutional ownership in Broadcom is significant, with hedge funds and other investors holding 76.43% of the stock, indicating strong institutional interest.
• Broadcom's recent performance includes an EPS of $1.58, exceeding estimates, and a revenue boost of 20.2% year-over-year, emphasizing positive growth trends.

Dodge & Cox trimmed its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 11.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,670 shares of the semiconductor manufacturer's stock after selling 2,790 shares during the period. Dodge & Cox's holdings in Broadcom were worth $3,461,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Nuveen LLC bought a new position in shares of Broadcom in the first quarter worth approximately $6,649,117,000. Price T Rowe Associates Inc. MD grew its holdings 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 acquiring an additional 17,985,046 shares during the last quarter. GAMMA Investing LLC grew its holdings in Broadcom by 18,179.3% in the 1st quarter. GAMMA Investing LLC now owns 17,276,164 shares of the semiconductor manufacturer's stock worth $2,892,548,000 after acquiring an additional 17,181,652 shares during the last quarter. Northern Trust Corp increased its position in shares of Broadcom by 12.0% in the fourth quarter. Northern Trust Corp now owns 49,087,351 shares of the semiconductor manufacturer's stock valued at $11,380,411,000 after acquiring an additional 5,258,925 shares during the period. Finally, Goldman Sachs Group Inc. raised its stake in shares of Broadcom by 16.7% during 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 acquiring an additional 4,550,647 shares during the last quarter. Hedge funds and other institutional investors own 76.43% of the company's stock.

Broadcom Stock Up 0.8%

Shares of NASDAQ:AVGO traded up $2.24 on Wednesday, hitting $300.25. 13,617,354 shares of the company traded hands, compared to its average volume of 25,826,541. The stock has a 50 day simple moving average of $284.66 and a 200-day simple moving average of $233.28. The company has a quick ratio of 0.98, a current ratio of 1.08 and a debt-to-equity ratio of 0.89. The company has a market cap of $1.41 trillion, a PE ratio of 112.45, a PEG ratio of 2.09 and a beta of 1.15. Broadcom Inc. has a 52 week low of $134.90 and a 52 week high of $317.35.

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

Broadcom Dividend Announcement

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

Insiders Place Their Bets

In related news, CEO Hock E. Tan sold 117,758 shares of the stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $252.91, for a total transaction of $29,782,175.78. Following the sale, the chief executive officer directly owned 1,014,152 shares of the company's stock, valued at $256,489,182.32. This trade represents a 10.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Henry Samueli sold 473,898 shares of the business'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 directly owned 38,188,575 shares of the company's stock, valued at approximately $10,132,574,604.75. This trade represents a 1.23% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 830,516 shares of company stock worth $217,286,457 in the last three months. Corporate insiders own 2.00% of the company's stock.

Wall Street Analysts Forecast Growth

AVGO has been the topic of several recent analyst reports. KeyCorp raised their target price on Broadcom from $315.00 to $330.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 8th. Citigroup boosted 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. Hsbc Global Res upgraded shares of Broadcom from a "hold" rating to a "strong-buy" rating in a report on Tuesday, June 24th. Benchmark lifted their price target on Broadcom from $255.00 to $315.00 and gave the company a "buy" rating in a research report on Friday, June 6th. Finally, Oppenheimer increased their price objective on Broadcom from $265.00 to $305.00 and gave the stock an "outperform" rating in a report on Tuesday, July 15th. Three investment 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 stock. According to data from MarketBeat, Broadcom has a consensus rating of "Buy" and an average price target of $300.96.

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.