Intrua Financial LLC Lowers Stock Position in Broadcom Inc. $AVGO

Key Points

• Intrua Financial LLC reduced its Broadcom stake by 10.7% in the first quarter, selling 2,614 shares and ending with 21,812 shares valued at about $6.75 million.
• Broadcom reported strong quarterly results, with EPS of $2.44 topping estimates and revenue of $22.19 billion, up 47.9% from a year earlier.
• Analysts remain bullish on AVGO, with a consensus rating of “Moderate Buy” and an average price target of $493.24, even as the stock traded down 2.4% to $360.45.

Intrua Financial LLC cut its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 10.7% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 21,812 shares of the semiconductor manufacturer's stock after selling 2,614 shares during the period. Broadcom makes up about 0.7% of Intrua Financial LLC's portfolio, making the stock its 25th largest holding. Intrua Financial LLC's holdings in Broadcom were worth $6,751,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of AVGO. Brown Brothers Harriman & Co. grew its position in shares of Broadcom by 10.7% in the third quarter. Brown Brothers Harriman & Co. now owns 77,411 shares of the semiconductor manufacturer's stock valued at $25,539,000 after purchasing an additional 7,499 shares during the period. Sovran Advisors LLC increased its stake in shares of Broadcom by 121.3% during the fourth quarter. Sovran Advisors LLC now owns 30,631 shares of the semiconductor manufacturer's stock worth $10,507,000 after purchasing an additional 16,789 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its position in shares of Broadcom by 406.1% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 11,994 shares of the semiconductor manufacturer's stock worth $4,151,000 after purchasing an additional 9,624 shares during the last quarter. Aspiriant LLC raised its position in shares of Broadcom by 18.5% during the 4th quarter. Aspiriant LLC now owns 12,016 shares of the semiconductor manufacturer's stock worth $4,158,000 after purchasing an additional 1,872 shares during the last quarter. Finally, World Investment Advisors lifted its stake in Broadcom by 16.1% in the 4th quarter. World Investment Advisors now owns 177,710 shares of the semiconductor manufacturer's stock valued at $61,505,000 after buying an additional 24,703 shares in the last quarter. Hedge funds and other institutional investors own 76.43% of the company's stock.

Broadcom Stock Down 2.4%

Shares of NASDAQ AVGO opened at $360.45 on Friday. The stock has a market cap of $1.71 trillion, a PE ratio of 60.08, a P/E/G ratio of 0.65 and a beta of 1.45. The company has a current ratio of 2.24, a quick ratio of 2.01 and a debt-to-equity ratio of 0.71. Broadcom Inc. has a 12-month low of $269.58 and a 12-month high of $495.00. The company has a 50-day moving average of $409.17 and a 200 day moving average of $362.34.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share for the quarter, topping analysts' consensus estimates of $2.40 by $0.04. Broadcom had a net margin of 38.85% and a return on equity of 41.61%. The business had revenue of $22.19 billion for the quarter, compared to analyst estimates of $22.13 billion. During the same period last year, the company posted $1.58 EPS. The business's revenue was up 47.9% on a year-over-year basis. As a group, sell-side analysts predict that Broadcom Inc. will post 10.24 EPS for the current fiscal year.

Broadcom Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 22nd were issued a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 0.7%. The ex-dividend date was Monday, June 22nd. Broadcom's dividend payout ratio is presently 43.33%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Dbs Bank upgraded Broadcom to a "moderate buy" rating in a report on Thursday, June 18th. UBS Group set a $485.00 target price on Broadcom and gave the company a "buy" rating in a research report on Thursday, June 4th. Citigroup reaffirmed a "buy" rating on shares of Broadcom in a research note on Thursday, June 4th. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $545.00 price target (up from $430.00) on shares of Broadcom in a research note on Thursday, May 14th. Finally, Jefferies Financial Group set a $550.00 price objective on Broadcom and gave the company a "buy" rating in a research note on Thursday, June 4th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, Broadcom currently has a consensus rating of "Moderate Buy" and an average target price of $493.24.

Trending Headlines about Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Wall Street remains upbeat on Broadcom’s AI growth story, with UBS reaffirming a Buy rating and $485 target on strong AI ASIC demand tied to customers like OpenAI and Anthropic. UBS Reaffirms Buy Rating on Broadcom (AVGO) Amid AI ASIC Demand and OpenAI, Anthropic Growth
• Positive Sentiment: Several recent pieces point to Broadcom’s expanding role in custom AI silicon and its OpenAI-related accelerator work, reinforcing the long-term revenue opportunity from AI infrastructure spending.
• Positive Sentiment: Analysts continue to view recent weakness as a buying opportunity, with multiple firms maintaining bullish targets well above the current share price.
• Neutral Sentiment: Commentary this week also highlighted Broadcom as a major beneficiary of the broader semiconductor and AI trade, but much of that optimism simply reiterates an already well-known investment thesis.
• Negative Sentiment: Director Justine Page sold 1,602 shares at $373.86, adding to recent insider-selling headlines that can make investors cautious. SEC Form 4 filing for Justine Page sale
• Negative Sentiment: Broadcom’s post-earnings pullback has continued to draw attention, as investors worry the company’s strong results and guidance still weren’t enough to satisfy very high expectations.

Insider Buying and Selling

In other Broadcom news, insider Mark David Brazeal sold 4,825 shares of the firm's stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $394.91, for a total value of $1,905,440.75. Following the completion of the sale, the insider directly owned 269,989 shares of the company's stock, valued at $106,621,355.99. This trade represents a 1.76% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gayla J. Delly sold 1,000 shares of Broadcom stock in a transaction on Thursday, April 9th. The stock was sold at an average price of $358.31, for a total value of $358,310.00. Following the transaction, the director owned 32,352 shares in the company, valued at approximately $11,592,045.12. This represents a 3.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 60,987 shares of company stock worth $21,899,980 over the last quarter. Corporate insiders own 1.90% of the company's stock.

Broadcom Profile

Broadcom Inc NASDAQ: AVGO is a global technology company that designs, develops and supplies semiconductor and infrastructure software solutions for a broad range of markets. The company's semiconductor business provides components and systems for wired and wireless communications, enterprise and cloud storage, networking and broadband access, serving original equipment manufacturers, cloud service providers, telecommunications carriers and industrial customers worldwide. Broadcom is headquartered in Irvine, California, and operates globally with research, development and sales organizations across North America, Europe and Asia.

On the semiconductor side, Broadcom's portfolio includes system-on-chip (SoC) and application-specific integrated circuit (ASIC) solutions, radio-frequency and connectivity components, Ethernet switching and PHY devices, storage adapters and controllers, optical transceivers and other networking silicon.

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