Osterweis Capital Management Inc. Lowers Position in Broadcom Inc. $AVGO

Key Points

• Osterweis Capital Management Inc. has reduced its holdings in Broadcom Inc. by 28.9%, bringing its ownership down to 134,501 shares valued at approximately $22.52 million.
• Despite the cut in holdings by Osterweis, several hedge funds, including Waddell & Associates LLC and Challenger Wealth Management, have recently increased their stakes in Broadcom during the same quarter.
• Broadcom has received multiple upgrades from analysts, with HSBC raising its rating from "hold" to "buy" and setting a target price of $400, indicating strong market confidence in the company's future performance.

Osterweis Capital Management Inc. cut its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 28.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 134,501 shares of the semiconductor manufacturer's stock after selling 54,725 shares during the quarter. Osterweis Capital Management Inc.'s holdings in Broadcom were worth $22,520,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the company. Waddell & Associates LLC lifted its stake in Broadcom by 2.1% during the 1st quarter. Waddell & Associates LLC now owns 2,091 shares of the semiconductor manufacturer's stock worth $350,000 after acquiring an additional 43 shares in the last quarter. Challenger Wealth Management lifted its stake in Broadcom by 1.3% during the 1st quarter. Challenger Wealth Management now owns 3,504 shares of the semiconductor manufacturer's stock worth $587,000 after acquiring an additional 45 shares in the last quarter. True Wealth Design LLC lifted its stake in Broadcom by 7.2% during the 4th quarter. True Wealth Design LLC now owns 712 shares of the semiconductor manufacturer's stock worth $165,000 after acquiring an additional 48 shares in the last quarter. Wescott Financial Advisory Group LLC lifted its stake in Broadcom by 3.8% during the 1st quarter. Wescott Financial Advisory Group LLC now owns 1,326 shares of the semiconductor manufacturer's stock worth $222,000 after acquiring an additional 48 shares in the last quarter. Finally, Martingale Asset Management L P lifted its stake in Broadcom by 1.3% during the 1st quarter. Martingale Asset Management L P now owns 3,876 shares of the semiconductor manufacturer's stock worth $649,000 after acquiring an additional 48 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company's stock.

Insiders Place Their Bets

In other news, Director Gayla J. Delly sold 3,000 shares of the stock in a transaction dated Thursday, June 26th. The stock was sold at an average price of $265.13, for a total value of $795,390.00. Following the transaction, the director owned 33,352 shares in the company, valued at approximately $8,842,615.76. This represents a 8.25% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Henry Samueli sold 473,898 shares of the 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 approximately $10,132,574,604.75. The trade was a 1.23% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have bought 3,550 shares of company stock worth $1,227,869 and have sold 702,758 shares worth $184,975,481. Insiders own 2.00% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. HSBC raised Broadcom from a "hold" rating to a "buy" rating and set a $400.00 target price on the stock in a research note on Tuesday, June 24th. UBS Group increased their target price on Broadcom from $290.00 to $345.00 and gave the stock a "buy" rating in a research note on Monday, August 25th. Susquehanna increased their price target on Broadcom from $280.00 to $300.00 and gave the company a "positive" rating in a research report on Friday, June 6th. Erste Group Bank raised Broadcom from a "hold" rating to a "buy" rating in a research report on Thursday, June 5th. Finally, Wall Street Zen raised Broadcom from a "hold" rating to a "buy" rating in a research report on Saturday, September 6th. Three analysts have rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $351.92.

Broadcom Price Performance

AVGO stock opened at $359.63 on Friday. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.50 and a quick ratio of 1.37. The firm has a market capitalization of $1.69 trillion, a P/E ratio of 91.74, a P/E/G ratio of 2.04 and a beta of 1.16. The business's 50-day moving average is $298.61 and its two-hundred day moving average is $240.90. Broadcom Inc. has a 1 year low of $138.10 and a 1 year high of $374.23.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its quarterly earnings data on Thursday, September 4th. The semiconductor manufacturer reported $1.69 EPS for the quarter, beating analysts' consensus estimates of $1.66 by $0.03. Broadcom had a return on equity of 36.60% and a net margin of 31.59%.The business had revenue of $15.95 billion for the quarter, compared to the consensus estimate of $15.82 billion. During the same quarter in the prior year, the business posted $1.24 EPS. The business's revenue for the quarter was up 22.0% on a year-over-year basis. Broadcom has set its Q4 2025 guidance at EPS. Analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 22nd will be issued a $0.59 dividend. The ex-dividend date is Monday, September 22nd. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.7%. Broadcom's dividend payout ratio is presently 60.20%.

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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