Hedeker Wealth LLC Sells 22,467 Shares of Broadcom Inc. $AVGO

Key Points

• Hedeker Wealth reduced its Broadcom position by 23.5%, selling 22,467 shares during the second quarter while retaining 73,225 shares worth approximately $27.7 million. Broadcom remains the firm’s largest holding, representing about 5.3% of its portfolio.
• Broadcom reported quarterly earnings of $3.32 per share and revenue of $29.59 billion, exceeding analyst estimates; revenue increased 85.5% year over year. The company also declared a quarterly dividend of $0.65 per share, equivalent to a 0.7% annualized yield.
• Wall Street remains broadly bullish, with 29 analysts rating the stock Strong Buy or Buy and an average price target of $509.04. However, recent insider selling and concerns about the pace of AI infrastructure spending remain potential risks.

Hedeker Wealth LLC decreased its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 23.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 73,225 shares of the semiconductor manufacturer's stock after selling 22,467 shares during the quarter. Broadcom makes up approximately 5.3% of Hedeker Wealth LLC's portfolio, making the stock its largest holding. Hedeker Wealth LLC's holdings in Broadcom were worth $27,661,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of the company. Fullerton Advisors LLC lifted its position in Broadcom by 1.3% during the 1st quarter. Fullerton Advisors LLC now owns 1,989 shares of the semiconductor manufacturer's stock worth $616,000 after acquiring an additional 25 shares during the last quarter. NORTHSTAR ASSET MANAGEMENT Co grew its position in shares of Broadcom by 0.5% in the first quarter. NORTHSTAR ASSET MANAGEMENT Co now owns 5,350 shares of the semiconductor manufacturer's stock valued at $1,656,000 after purchasing an additional 25 shares during the last quarter. RFG Holdings Inc. increased its stake in shares of Broadcom by 0.3% in the first quarter. RFG Holdings Inc. now owns 8,499 shares of the semiconductor manufacturer's stock worth $2,631,000 after purchasing an additional 26 shares during the period. Yukon Wealth Management Inc. lifted its position in shares of Broadcom by 1.1% during the 1st quarter. Yukon Wealth Management Inc. now owns 2,501 shares of the semiconductor manufacturer's stock worth $774,000 after purchasing an additional 26 shares during the last quarter. Finally, NerdWallet Wealth Partners LLC boosted its stake in Broadcom by 2.6% during the 2nd quarter. NerdWallet Wealth Partners LLC now owns 1,057 shares of the semiconductor manufacturer's stock valued at $399,000 after purchasing an additional 27 shares during the period. 76.43% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Broadcom news, insider Mark Brazeal sold 25,000 shares of the business's stock in a transaction on Friday, July 10th. The shares were sold at an average price of $401.33, for a total value of $10,033,250.00. Following the sale, the insider owned 194,989 shares of the company's stock, valued at $78,254,935.37. The trade was a 11.36% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Gayla Delly sold 1,890 shares of the stock in a transaction on Wednesday, July 8th. The shares were sold at an average price of $385.38, for a total transaction of $728,368.20. Following the completion of the transaction, the director owned 31,326 shares of the company's stock, valued at approximately $12,072,413.88. This represents a 5.69% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 53,492 shares of company stock worth $20,840,292 over the last 90 days. Corporate insiders own 1.90% of the company's stock.

Broadcom Trading Up 2.3%

Broadcom stock opened at $347.30 on Friday. The business has a 50 day moving average price of $379.76 and a two-hundred day moving average price of $379.16. The company has a quick ratio of 2.29, a current ratio of 2.50 and a debt-to-equity ratio of 0.57. Broadcom Inc. has a 12 month low of $289.96 and a 12 month high of $495.00. The stock has a market cap of $1.66 trillion, a price-to-earnings ratio of 44.36 and a beta of 1.44.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its quarterly earnings data on Wednesday, September 2nd. The semiconductor manufacturer reported $3.32 earnings per share for the quarter, topping the consensus estimate of $3.22 by $0.10. The company had revenue of $29.59 billion for the quarter, compared to analyst estimates of $29.24 billion. Broadcom had a return on equity of 48.33% and a net margin of 42.94%.Broadcom's revenue for the quarter was up 85.5% compared to the same quarter last year. During the same quarter last year, the firm earned $1.69 EPS. As a group, equities analysts forecast that Broadcom Inc. will post 10.36 EPS for the current year.

Broadcom Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Monday, September 21st will be paid a dividend of $0.65 per share. The ex-dividend date is Monday, September 21st. This represents a $2.60 dividend on an annualized basis and a yield of 0.7%. Broadcom's payout ratio is currently 33.21%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on AVGO shares. Oppenheimer reaffirmed an "outperform" rating and issued a $535.00 target price (up from $450.00) on shares of Broadcom in a report on Thursday, June 4th. Jefferies Financial Group began coverage on Broadcom in a research report on Thursday, September 3rd. They issued a "buy" rating for the company. Evercore set a $578.00 price objective on shares of Broadcom in a research note on Thursday, September 3rd. KeyCorp reaffirmed an "overweight" rating and set a $575.00 target price on shares of Broadcom in a research report on Thursday, September 3rd. Finally, Benchmark upped their target price on shares of Broadcom from $485.00 to $545.00 and gave the company a "buy" rating in a research note on Thursday, June 4th. One investment analyst has rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, Broadcom has an average rating of "Moderate Buy" and an average target price of $509.04.

Trending Headlines about Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom’s custom-chip opportunity remains the main bullish catalyst. Management forecasts AI semiconductor revenue of approximately $115 billion in fiscal 2027 and $230 billion in fiscal 2028, while recent reports say AI chip orders are tripling. Investors are looking for evidence that these orders will translate into revenue and earnings growth. Investors Want to Know When Broadcom’s Custom Hyperscaler Chips Will Move Share Prices
• Positive Sentiment: Analysts and market commentators see substantial upside after the summer selloff. Jim Cramer called AVGO potentially “too cheap to ignore,” while other coverage points to a wide gap between the current share price and Wall Street price targets. Jim Cramer on Broadcom: The Stock May Be Too Cheap to Ignore
• Positive Sentiment: Broadcom is viewed as a key supplier to the next phase of AI infrastructure, including custom accelerators, networking and inference hardware. Industry commentary also highlights potential growth in enterprise AI and VMware private-cloud demand, although the evidence for that software trend is mixed. Enterprise AI to Boost Broadcom’s Software Business
• Neutral Sentiment: The broader semiconductor rebound helped lift AVGO, but the stock’s performance is still being driven more by expectations than by newly announced company-specific results. Investors are waiting for custom-hyperscaler chip deployments to produce visible financial impact.
• Negative Sentiment: Shares have faced pressure after Anthropic and OpenAI leaders urged caution around rapidly scaling advanced AI models. That has raised concerns that hyperscalers could slow infrastructure spending, even though Broadcom’s CEO has reportedly maintained the company’s AI revenue targets. Broadcom Shares Fell as Slower AI Development Raised Demand Concerns

Broadcom Company Profile

Broadcom Inc NASDAQ: AVGO designs, develops and supplies semiconductor and infrastructure software products for businesses, telecommunications providers and other organizations worldwide. Its semiconductor portfolio includes networking and connectivity components, custom application-specific integrated circuits, broadband and wireless communications products, storage adapters, optical components, and industrial solutions.

The company also provides enterprise infrastructure software through businesses including VMware, which offers virtualization and private- and hybrid-cloud solutions; mainframe and enterprise software; and cybersecurity products.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.