Knuff & Co LLC Decreases Stake in Broadcom Inc. $AVGO

Key Points

• Knuff & Co LLC has reduced its stake in Broadcom Inc. by 3.7%, now holding 25,716 shares worth approximately $4.3 million, making it the firm's 23rd largest holding.
• Broadcom reported an EPS of $1.58 for the recent quarter, slightly exceeding analyst expectations, with revenues of $15 billion indicating a year-over-year increase of 20.2%.
• Institutional investors collectively own 76.43% of Broadcom's stock, with notable recent increases in holdings from Brighton Jones LLC and Bank Pictet & Cie Europe AG.

Knuff & Co LLC decreased its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 3.7% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 25,716 shares of the semiconductor manufacturer's stock after selling 990 shares during the period. Broadcom comprises 1.4% of Knuff & Co LLC's investment portfolio, making the stock its 23rd biggest position. Knuff & Co LLC's holdings in Broadcom were worth $4,306,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. True Wealth Design LLC raised its position in Broadcom by 7.2% during the fourth quarter. True Wealth Design LLC now owns 712 shares of the semiconductor manufacturer's stock worth $165,000 after acquiring an additional 48 shares during the period. Fulton Breakefield Broenniman LLC raised its position in shares of Broadcom by 2.4% in the first quarter. Fulton Breakefield Broenniman LLC now owns 2,130 shares of the semiconductor manufacturer's stock valued at $357,000 after buying an additional 50 shares during the last quarter. American Financial Advisors LLC increased its position in Broadcom by 3.8% during the first quarter. American Financial Advisors LLC now owns 1,432 shares of the semiconductor manufacturer's stock worth $240,000 after purchasing an additional 52 shares during the last quarter. GS Investments Inc. increased its position in Broadcom by 0.5% during the first quarter. GS Investments Inc. now owns 11,397 shares of the semiconductor manufacturer's stock worth $1,908,000 after purchasing an additional 52 shares during the last quarter. Finally, FCA Corp TX increased its position in Broadcom by 0.5% during the first quarter. FCA Corp TX now owns 10,846 shares of the semiconductor manufacturer's stock worth $1,816,000 after purchasing an additional 54 shares during the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

Broadcom Stock Down 3.5%

AVGO stock traded down $10.85 during midday trading on Tuesday, reaching $294.91. 19,773,929 shares of the company were exchanged, compared to its average volume of 26,119,236. The stock's 50-day simple moving average is $279.50 and its 200 day simple moving average is $230.48. The company has a market cap of $1.39 trillion, a price-to-earnings ratio of 110.45, a price-to-earnings-growth ratio of 2.18 and a beta of 1.15. Broadcom Inc. has a 1-year low of $134.90 and a 1-year high of $317.35. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.98 and a current ratio of 1.08.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 EPS for the quarter, beating analysts' consensus estimates of $1.57 by $0.01. The business had revenue of $15 billion for the quarter, compared to analysts' expectations of $14.98 billion. Broadcom had a net margin of 22.64% and a return on equity of 35.49%. The company's quarterly revenue was up 20.2% on a year-over-year basis. During the same period in the previous year, the company posted $10.96 EPS. Broadcom has set its Q3 2025 guidance at EPS. On average, equities analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 20th were issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend was Friday, June 20th. Broadcom's payout ratio is presently 88.39%.

Analysts Set New Price Targets

A number of research firms recently weighed in on AVGO. Mizuho increased their price objective on shares of Broadcom from $315.00 to $320.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 16th. UBS Group increased their price objective on shares of Broadcom from $270.00 to $290.00 and gave the stock a "buy" rating in a research report on Friday, June 6th. Cowen reaffirmed a "buy" rating on shares of Broadcom in a research report on Friday, June 6th. Oppenheimer increased their price objective on shares of Broadcom from $265.00 to $305.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 15th. Finally, Hsbc Global Res raised shares of Broadcom from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, June 24th. Three research analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $295.96.

Insiders Place Their Bets

In other Broadcom news, CFO Kirsten M. Spears sold 56,310 shares of the business's stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $251.75, for a total value of $14,176,042.50. Following the transaction, the chief financial officer directly owned 361,937 shares of the company's stock, valued at approximately $91,117,639.75. The trade was a 13.46% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Henry Samueli sold 473,898 shares of the business's stock in a transaction on Wednesday, June 25th. The shares were 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 directly owned 38,188,575 shares in the company, valued at $10,132,574,604.75. This represents a 1.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 830,516 shares of company stock worth $217,286,457. Corporate insiders own 2.00% of the company's stock.

Broadcom 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.