EFG Asset Management North America Corp. Has $8.32 Million Position in Broadcom Inc. $AVGO

Key Points

• EFG Asset Management North America Corp. reduced its stake in Broadcom Inc. by 7.0%, selling 3,761 shares and now holding 49,672 shares valued at approximately $8.3 million.
• Institutional investors and hedge funds own 76.43% of Broadcom's stock, indicating strong institutional interest and support for the company.
• Broadcom recently reported earnings of $1.58 EPS for the quarter, exceeding estimates, with revenue up 20.2% year-over-year.

EFG Asset Management North America Corp. lowered its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 7.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 49,672 shares of the semiconductor manufacturer's stock after selling 3,761 shares during the period. Broadcom makes up 1.4% of EFG Asset Management North America Corp.'s investment portfolio, making the stock its 8th biggest holding. EFG Asset Management North America Corp.'s holdings in Broadcom were worth $8,318,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Waddell & Associates LLC raised its holdings in shares of Broadcom by 2.1% during the first quarter. Waddell & Associates LLC now owns 2,091 shares of the semiconductor manufacturer's stock valued at $350,000 after purchasing an additional 43 shares during the period. True Wealth Design LLC raised its holdings in shares of Broadcom by 7.2% in the 4th quarter. True Wealth Design LLC now owns 712 shares of the semiconductor manufacturer's stock worth $165,000 after acquiring an additional 48 shares during the last quarter. Wescott Financial Advisory Group LLC raised its holdings in shares of Broadcom by 3.8% in the 1st quarter. Wescott Financial Advisory Group LLC now owns 1,326 shares of the semiconductor manufacturer's stock worth $222,000 after acquiring an additional 48 shares during the last quarter. Martingale Asset Management L P raised its holdings in shares of Broadcom by 1.3% in the 1st quarter. Martingale Asset Management L P now owns 3,876 shares of the semiconductor manufacturer's stock worth $649,000 after acquiring an additional 48 shares during the last quarter. Finally, Monterey Private Wealth Inc. raised its holdings in shares of Broadcom by 1.8% in the 1st quarter. Monterey Private Wealth Inc. now owns 2,780 shares of the semiconductor manufacturer's stock worth $465,000 after acquiring an additional 48 shares during the last quarter. Institutional investors and hedge funds own 76.43% of the company's stock.

Broadcom Price Performance

NASDAQ:AVGO traded up $28.79 during trading hours on Friday, hitting $334.89. The stock had a trading volume of 78,318,626 shares, compared to its average volume of 17,635,120. The company has a 50 day simple moving average of $292.09 and a two-hundred day simple moving average of $237.25. 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 market capitalization of $1.58 trillion, a price-to-earnings ratio of 85.43, a P/E/G ratio of 2.17 and a beta of 1.16. Broadcom Inc. has a one year low of $134.90 and a one year high of $356.34.

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 analysts' consensus estimates of $1.66 by $0.03. The company had revenue of $15.95 billion for the quarter, compared to analysts' expectations of $15.82 billion. Broadcom had a net margin of 31.59% and a return on equity of 37.17%. The firm's revenue was up 22.0% compared to the same quarter last year. During the same quarter last year, the company earned $1.24 EPS. Broadcom has set its Q4 2025 guidance at EPS. Research analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 22nd will be paid a dividend of $0.59 per share. The ex-dividend date of this dividend is Monday, September 22nd. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.7%. Broadcom's payout ratio is presently 88.39%.

Insider Activity

In related news, CEO Hock E. Tan sold 40,000 shares of the business's stock in a transaction dated Thursday, June 26th. The shares were sold at an average price of $268.29, for a total transaction of $10,731,600.00. Following the sale, the chief executive officer owned 482,836 shares of the company's stock, valued at $129,540,070.44. The trade was a 7.65% 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, Director Gayla J. Delly sold 3,000 shares of the business's stock in a transaction dated Thursday, June 26th. The stock was sold at an average price of $265.13, for a total transaction of $795,390.00. Following the sale, the director directly owned 33,352 shares in the company, valued at $8,842,615.76. The trade was a 8.25% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 830,516 shares of company stock worth $217,286,457. 2.00% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. TD Cowen increased their price objective on shares of Broadcom from $355.00 to $370.00 and gave the company a "buy" rating in a research note on Friday. Truist Financial increased their price objective on shares of Broadcom from $295.00 to $365.00 and gave the company a "buy" rating in a research note on Friday. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Broadcom from $300.00 to $350.00 and gave the company a "buy" rating in a research note on Friday. Wells Fargo & Company increased their price objective on shares of Broadcom from $255.00 to $345.00 and gave the company an "equal weight" rating in a research note on Friday. Finally, KeyCorp increased their price objective on shares of Broadcom from $330.00 to $400.00 and gave the company an "overweight" rating in a research note on Friday. Three investment analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $351.00.

Broadcom Company 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.