ICONIQ Capital LLC Decreases Stock Holdings in Broadcom Inc. $AVGO

Key Points

• ICONIQ Capital LLC significantly decreased its holdings in Broadcom Inc. by 82.3%, owning only 108,577 shares after selling nearly 506,000 shares during the 1st quarter.
• Broadcom's recent earnings report showed a profit of $1.58 EPS, slightly beating analyst estimates, and a revenue of $15 billion, reflecting a 20.2% increase year-over-year.
• Insiders at Broadcom have sold a total of 830,516 shares worth over $217 million in the last 90 days, indicating significant insider selling activity.

ICONIQ Capital LLC reduced its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 82.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 108,577 shares of the semiconductor manufacturer's stock after selling 505,980 shares during the quarter. Broadcom accounts for 0.3% of ICONIQ Capital LLC's portfolio, making the stock its 19th largest position. ICONIQ Capital LLC's holdings in Broadcom were worth $18,179,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Sunbeam Capital Management LLC purchased a new stake in Broadcom during the fourth quarter worth approximately $28,000. Vermillion Wealth Management Inc. purchased a new stake in Broadcom during the fourth quarter worth approximately $30,000. Barnes Dennig Private Wealth Management LLC purchased a new stake in Broadcom during the first quarter worth approximately $25,000. Cheviot Value Management LLC purchased a new stake in Broadcom during the first quarter worth approximately $25,000. Finally, Inlight Wealth Management LLC purchased a new stake in Broadcom during the first quarter worth approximately $26,000. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Broadcom Trading Up 1.5%

NASDAQ AVGO opened at $294.00 on Friday. Broadcom Inc. has a 12 month low of $134.90 and a 12 month high of $317.35. 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 company has a market capitalization of $1.38 trillion, a price-to-earnings ratio of 110.11, a price-to-earnings-growth ratio of 2.09 and a beta of 1.15. The company's fifty day moving average price is $282.85 and its two-hundred day moving average price is $232.34.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its quarterly earnings data on Thursday, June 5th. The semiconductor manufacturer reported $1.58 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 in the prior year, the firm posted $10.96 EPS. The firm's revenue was up 20.2% compared to the same quarter last year. Broadcom has set its Q3 2025 guidance at EPS. As a group, research analysts predict that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The business also recently disclosed 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 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Friday, June 20th. Broadcom's dividend payout ratio is 88.39%.

Insider Activity

In other Broadcom news, insider Mark David Brazeal sold 50,000 shares of the stock in a transaction on Monday, June 23rd. The shares were sold at an average price of $253.28, for a total transaction of $12,664,000.00. Following the transaction, the insider directly owned 415,956 shares in the company, valued at $105,353,335.68. This represents a 10.73% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Henry Samueli sold 473,898 shares of the firm's stock in a transaction dated 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 completion of the transaction, the director owned 38,188,575 shares in the company, valued at approximately $10,132,574,604.75. The trade was a 1.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 830,516 shares of company stock worth $217,286,457 over the last ninety days. Insiders own 2.00% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on AVGO shares. Wall Street Zen raised shares of Broadcom from a "hold" rating to a "buy" rating in a report on Sunday, August 17th. Hsbc Global Res raised shares of Broadcom from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, June 24th. Piper Sandler upped their price objective on shares of Broadcom from $300.00 to $315.00 and gave the company an "overweight" rating in a research report on Friday. JPMorgan Chase & Co. upped their price objective on shares of Broadcom from $250.00 to $325.00 and gave the company an "overweight" rating in a research report on Friday, June 6th. Finally, Citigroup upped their price objective on shares of Broadcom from $285.00 to $315.00 and gave the company a "buy" rating in a research report on Monday, July 7th. Three analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $298.67.

About Broadcom

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.

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