Guinness Asset Management LTD Lowers Stock Position in Broadcom Inc. $AVGO

Key Points

• Guinness Asset Management LTD reduced its holdings in Broadcom Inc. by 2.2%, selling 25,519 shares, resulting in ownership of approximately $186.6 million worth of stock.
• Director Henry Samueli and insider Mark David Brazeal sold a combined total of 523,898 shares of Broadcom, significantly decreasing their ownership stakes.
• Broadcom's shares have received increased price targets from multiple brokerages, with JPMorgan and Barclays both setting new targets of $400, reflecting strong analyst confidence.

Guinness Asset Management LTD lowered its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 2.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,114,242 shares of the semiconductor manufacturer's stock after selling 25,519 shares during the quarter. Broadcom comprises 3.6% of Guinness Asset Management LTD's portfolio, making the stock its 16th largest position. Guinness Asset Management LTD's holdings in Broadcom were worth $186,620,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of AVGO. Nuveen LLC bought a new position in Broadcom during the first quarter valued at approximately $6,649,117,000. Price T Rowe Associates Inc. MD increased its stake in shares of Broadcom by 37.8% in the first 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. GAMMA Investing LLC grew its stake in Broadcom by 18,179.3% during the first quarter. GAMMA Investing LLC now owns 17,276,164 shares of the semiconductor manufacturer's stock valued at $2,892,548,000 after acquiring an additional 17,181,652 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in 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 in the last quarter. Finally, Deutsche Bank AG lifted its position in Broadcom by 36.9% during the first quarter. Deutsche Bank AG now owns 15,758,895 shares of the semiconductor manufacturer's stock valued at $2,638,512,000 after purchasing an additional 4,245,345 shares during the last quarter. Hedge funds and other institutional investors own 76.43% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Rosenblatt Securities raised their target price on shares of Broadcom from $340.00 to $400.00 and gave the stock a "buy" rating in a report on Friday, September 5th. Bank of America boosted their target price on shares of Broadcom from $300.00 to $400.00 and gave the stock a "buy" rating in a research report on Friday, September 5th. JPMorgan Chase & Co. lifted their price objective on shares of Broadcom from $325.00 to $400.00 and gave the company an "overweight" rating in a research note on Friday, September 5th. Redburn Atlantic initiated coverage on shares of Broadcom in a research note on Wednesday, May 28th. They set a "buy" rating and a $301.00 price objective for the company. Finally, The Goldman Sachs Group reiterated a "buy" rating and issued a $340.00 target price on shares of Broadcom in a research note on Wednesday, August 13th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $354.04.

Insider Transactions at Broadcom

In other Broadcom news, CEO Hock E. Tan sold 148,154 shares of the company's stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $336.67, for a total value of $49,879,007.18. Following the transaction, the chief executive officer owned 825,998 shares of the company's stock, valued at $278,088,746.66. This represents a 15.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Harry L. You bought 500 shares of the firm's stock in a transaction on Wednesday, September 10th. The stock was bought at an average cost of $363.38 per share, for a total transaction of $181,690.00. Following the transaction, the director directly owned 35,602 shares of the company's stock, valued at $12,937,054.76. The trade was a 1.42% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have bought 3,550 shares of company stock valued at $1,227,869 and have sold 850,912 shares valued at $234,854,489. Company insiders own 2.00% of the company's stock.

Broadcom Trading Up 0.1%

Shares of AVGO traded up $0.24 during mid-day trading on Friday, reaching $359.87. The stock had a trading volume of 31,929,014 shares, compared to its average volume of 25,328,086. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.50 and a quick ratio of 1.37. Broadcom Inc. has a 52-week low of $138.10 and a 52-week high of $374.23. The business's fifty day moving average is $300.31 and its 200 day moving average is $242.19. The firm has a market cap of $1.69 trillion, a price-to-earnings ratio of 91.80, a P/E/G ratio of 1.99 and a beta of 1.16.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its quarterly earnings data on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.66 by $0.03. Broadcom had a net margin of 31.59% and a return on equity of 36.60%. The firm had revenue of $15.95 billion during the quarter, compared to analyst estimates of $15.82 billion. During the same quarter in the prior year, the firm posted $1.24 earnings per share. Broadcom's quarterly revenue was up 22.0% on a year-over-year basis. Broadcom has set its Q4 2025 guidance at EPS. On average, sell-side analysts predict 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. Investors of record on Monday, September 22nd will be issued a $0.59 dividend. 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 dividend 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.