Nearwater Capital Markets Ltd Has $170.16 Million Holdings in Broadcom Inc. $AVGO

Key Points

• Nearwater Capital Markets Ltd reduced its stake in Broadcom Inc. by 27%, currently holding approximately $170.16 million worth of shares, which represent 4.8% of its total portfolio.
• Broadcom reported a 22% year-over-year increase in revenue during the last quarter, achieving earnings of $1.69 per share and exceeding analysts' estimates.
• The company also announced a quarterly dividend of $0.59 per share, resulting in an annualized dividend yield of 0.8%.

Nearwater Capital Markets Ltd lessened its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 27.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,016,274 shares of the semiconductor manufacturer's stock after selling 376,219 shares during the period. Broadcom comprises about 4.8% of Nearwater Capital Markets Ltd's investment portfolio, making the stock its 3rd largest position. Nearwater Capital Markets Ltd's holdings in Broadcom were worth $170,155,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Night Owl Capital Management LLC increased its stake in shares of Broadcom by 4.8% in the first quarter. Night Owl Capital Management LLC now owns 63,527 shares of the semiconductor manufacturer's stock worth $10,636,000 after buying an additional 2,936 shares during the last quarter. Nippon Life Global Investors Americas Inc. increased its stake in Broadcom by 680.0% during the first quarter. Nippon Life Global Investors Americas Inc. now owns 120,660 shares of the semiconductor manufacturer's stock valued at $20,202,000 after purchasing an additional 105,190 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Broadcom by 6.2% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,600,808 shares of the semiconductor manufacturer's stock valued at $603,593,000 after purchasing an additional 210,736 shares during the last quarter. Insight Holdings Group LLC increased its stake in Broadcom by 29.0% during the first quarter. Insight Holdings Group LLC now owns 26,710 shares of the semiconductor manufacturer's stock valued at $4,472,000 after purchasing an additional 6,000 shares during the last quarter. Finally, KADENSA CAPITAL Ltd bought a new stake in Broadcom during the first quarter valued at $31,024,000. Institutional investors own 76.43% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on AVGO. HSBC upgraded shares of Broadcom from a "hold" rating to a "buy" rating and set a $400.00 target price for the company in a research note on Tuesday, June 24th. Susquehanna boosted their price target on shares of Broadcom from $280.00 to $300.00 and gave the company a "positive" rating in a report on Friday, June 6th. Arete Research raised shares of Broadcom to a "strong-buy" rating in a report on Monday, July 28th. Piper Sandler boosted their price target on shares of Broadcom from $315.00 to $375.00 and gave the company an "overweight" rating in a report on Friday. Finally, Redburn Atlantic began coverage on shares of Broadcom in a report on Wednesday, May 28th. They set a "buy" rating and a $301.00 price target for the company. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $351.00.

Insider Activity

In other news, CFO Kirsten M. Spears sold 36,350 shares of the company's stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $261.27, for a total value of $9,497,164.50. Following the transaction, the chief financial officer owned 325,587 shares in the company, valued at $85,066,115.49. This represents a 10.04% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Henry Samueli sold 473,898 shares of the company's stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $265.33, for a total value of $125,739,356.34. Following the completion of the transaction, the director owned 38,188,575 shares in the company, valued at $10,132,574,604.75. This represents a 1.23% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 830,516 shares of company stock worth $217,286,457. 2.00% of the stock is owned by company insiders.

Broadcom Price Performance

NASDAQ AVGO traded up $28.79 on Friday, reaching $334.89. The company's stock had a trading volume of 78,318,626 shares, compared to its average volume of 17,635,120. Broadcom Inc. has a twelve month low of $134.90 and a twelve month high of $356.34. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.98 and a current ratio of 1.08. The stock has a market cap of $1.58 trillion, a PE ratio of 85.43, a PEG ratio of 2.38 and a beta of 1.16. The firm's 50 day moving average is $292.09 and its two-hundred day moving average is $237.31.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its quarterly earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share for the quarter, beating analysts' consensus estimates of $1.66 by $0.03. The company had revenue of $15.95 billion during the quarter, compared to the consensus estimate of $15.82 billion. Broadcom had a net margin of 31.59% and a return on equity of 37.17%. Broadcom's revenue was up 22.0% on a year-over-year basis. During the same period in the prior year, the company earned $1.24 EPS. Broadcom has set its Q4 2025 guidance at EPS. As a group, sell-side analysts predict that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 22nd will be issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 0.7%. The ex-dividend date is Monday, September 22nd. Broadcom's payout ratio is presently 88.39%.

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.