Exchange Traded Concepts LLC Sells 9,053 Shares of Broadcom Inc. $AVGO

Key Points

• Exchange Traded Concepts LLC reduced its stake in Broadcom Inc. by 23.5%, selling 9,053 shares and leaving them with a total of 29,438 shares valued at $8.1 million.
• Several large investors, including Sawyer & Company Inc and Sunbeam Capital Management LLC, have increased their positions in Broadcom, which is primarily owned by institutional investors.
• Broadcom recently announced a quarterly dividend of $0.59 per share, maintaining a dividend yield of 0.7% with a payout ratio of 60.2%.

Exchange Traded Concepts LLC decreased its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 23.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 29,438 shares of the semiconductor manufacturer's stock after selling 9,053 shares during the period. Exchange Traded Concepts LLC's holdings in Broadcom were worth $8,115,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Barnes Dennig Private Wealth Management LLC bought a new position in Broadcom during the first quarter worth about $25,000. Cheviot Value Management LLC acquired a new stake in shares of Broadcom during the first quarter valued at about $25,000. Inlight Wealth Management LLC bought a new position in Broadcom during the first quarter worth $26,000. Sawyer & Company Inc grew its stake in shares of Broadcom by 62.1% in the 2nd quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer's stock valued at $26,000 after buying an additional 36 shares during the period. Finally, Sunbeam Capital Management LLC purchased a new stake in Broadcom in the 4th quarter valued at $28,000. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Broadcom

In related news, Director Henry Samueli sold 473,898 shares of the business's stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $265.33, for a total transaction of $125,739,356.34. Following the transaction, the director directly owned 38,188,575 shares of the company's stock, valued at approximately $10,132,574,604.75. The trade was a 1.23% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Hock E. Tan sold 148,154 shares of the business's stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $336.67, for a total transaction of $49,879,007.18. Following the completion of the sale, the chief executive officer directly owned 825,998 shares of the company's stock, valued at approximately $278,088,746.66. The trade was a 15.21% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have acquired 3,550 shares of company stock valued at $1,227,869 and have sold 790,522 shares valued at $224,295,124. 2.00% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

AVGO has been the subject of several research analyst reports. Cantor Fitzgerald reiterated an "overweight" rating and set a $300.00 target price on shares of Broadcom in a research report on Friday, June 6th. Sanford C. Bernstein boosted their price objective on shares of Broadcom from $295.00 to $400.00 and gave the stock an "outperform" rating in a report on Friday, September 5th. Wells Fargo & Company lifted their price objective on Broadcom from $255.00 to $345.00 and gave the company an "equal weight" rating in a research report on Friday, September 5th. Susquehanna raised their price objective on Broadcom from $280.00 to $300.00 and gave the stock a "positive" rating in a report on Friday, June 6th. Finally, JPMorgan Chase & Co. increased their target price on shares of Broadcom from $325.00 to $400.00 and gave the stock an "overweight" rating in a research note on Friday, September 5th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $356.48.

Broadcom Trading Down 1.4%

Shares of Broadcom stock traded down $4.91 during trading hours on Monday, reaching $339.44. 16,399,772 shares of the company's stock were exchanged, compared to its average volume of 26,399,619. The company has a fifty day moving average of $308.05 and a 200-day moving average of $248.20. Broadcom Inc. has a 52-week low of $138.10 and a 52-week high of $374.23. The company has a current ratio of 1.50, a quick ratio of 1.37 and a debt-to-equity ratio of 0.86. The firm has a market capitalization of $1.60 trillion, a price-to-earnings ratio of 86.76, a price-to-earnings-growth ratio of 1.91 and a beta of 1.16.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its quarterly earnings data on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share for the quarter, beating analysts' consensus estimates of $1.66 by $0.03. The firm had revenue of $15.95 billion during the quarter, compared to analyst estimates of $15.82 billion. Broadcom had a return on equity of 36.60% and a net margin of 31.59%.Broadcom's quarterly revenue was up 22.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.24 EPS. Broadcom has set its Q4 2025 guidance at EPS. Sell-side analysts forecast that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 22nd will be given a dividend of $0.59 per share. The ex-dividend date 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 currently 60.20%.

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.