Broadcom Inc. $AVGO Shares Purchased by EverSource Wealth Advisors LLC

Key Points

• EverSource Wealth Advisors LLC increased its stake in Broadcom by 3.4% in Q1, now holding 87,202 shares worth approximately $14.6 million.
• Institutional investors and hedge funds collectively own 76.43% of Broadcom's stock, reflecting a strong institutional interest in the semiconductor manufacturer.
• Broadcom recently reported $15 billion in quarterly revenue, exceeding analyst expectations, while also announcing a quarterly dividend of $0.59 per share.

EverSource Wealth Advisors LLC raised its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 3.4% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 87,202 shares of the semiconductor manufacturer's stock after purchasing an additional 2,886 shares during the quarter. Broadcom accounts for about 0.8% of EverSource Wealth Advisors LLC's investment portfolio, making the stock its 28th biggest holding. EverSource Wealth Advisors LLC's holdings in Broadcom were worth $14,600,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Deepwater Asset Management LLC lifted its stake in Broadcom by 4.8% during the 1st quarter. Deepwater Asset Management LLC now owns 70,544 shares of the semiconductor manufacturer's stock valued at $11,811,000 after acquiring an additional 3,229 shares during the period. Aberdeen Group plc boosted its holdings in Broadcom by 20.9% in the first quarter. Aberdeen Group plc now owns 4,266,536 shares of the semiconductor manufacturer's stock worth $700,395,000 after purchasing an additional 736,452 shares during the last quarter. Liontrust Investment Partners LLP grew its position in Broadcom by 24.8% in the 1st quarter. Liontrust Investment Partners LLP now owns 265,923 shares of the semiconductor manufacturer's stock worth $44,523,000 after purchasing an additional 52,802 shares during the period. Dimensional Fund Advisors LP raised its stake in Broadcom by 0.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 10,241,379 shares of the semiconductor manufacturer's stock valued at $1,714,546,000 after buying an additional 32,231 shares during the last quarter. Finally, Azimuth Capital Investment Management LLC lifted its holdings in shares of Broadcom by 34.7% during the 1st quarter. Azimuth Capital Investment Management LLC now owns 277,230 shares of the semiconductor manufacturer's stock valued at $46,417,000 after buying an additional 71,435 shares during the period. Hedge funds and other institutional investors own 76.43% of the company's stock.

Analyst Ratings Changes

A number of analysts recently commented on the company. Truist Financial set a $295.00 price objective on Broadcom and gave the company a "buy" rating in a research report on Friday, June 6th. JPMorgan Chase & Co. increased their price objective on shares of Broadcom from $250.00 to $325.00 and gave the company an "overweight" rating in a report on Friday, June 6th. Barclays lifted their price target on shares of Broadcom from $215.00 to $265.00 and gave the company an "overweight" rating in a report on Monday, June 9th. Cantor Fitzgerald reissued an "overweight" rating and set a $300.00 target price on shares of Broadcom in a research report on Friday, June 6th. Finally, Seaport Res Ptn upgraded Broadcom to a "strong-buy" rating in a research report on Wednesday, April 30th. Three research 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 company. According to MarketBeat.com, Broadcom has an average rating of "Buy" and a consensus target price of $295.96.

Insiders Place Their Bets

In other news, insider Mark David Brazeal sold 50,000 shares of the firm's stock in a transaction dated Monday, June 23rd. The stock was sold at an average price of $253.28, for a total value of $12,664,000.00. Following the completion of the transaction, the insider directly owned 415,956 shares in the company, valued at $105,353,335.68. This trade represents a 10.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Charlie B. Kawwas sold 10,000 shares of Broadcom stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $252.88, for a total value of $2,528,800.00. Following the sale, the insider directly owned 789,784 shares of the company's stock, valued at $199,720,577.92. This trade represents a 1.25% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 830,516 shares of company stock valued at $217,286,457. Insiders own 2.00% of the company's stock.

Broadcom Trading Down 2.9%

Shares of NASDAQ:AVGO traded down $9.01 during trading on Tuesday, reaching $296.75. 7,947,747 shares of the company were exchanged, compared to its average volume of 26,039,363. Broadcom Inc. has a 12-month low of $134.90 and a 12-month high of $317.35. The firm has a market capitalization of $1.40 trillion, a PE ratio of 111.26, a P/E/G ratio of 2.18 and a beta of 1.15. The business's fifty day simple moving average is $279.50 and its 200-day simple moving average is $230.48. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.08 and a quick ratio of 0.98.

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, research analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 20th were paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 0.8%. The ex-dividend date was Friday, June 20th. Broadcom's 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.