Osterweis Capital Management Inc. Sells 54,725 Shares of Broadcom Inc. $AVGO

Key Points

• Osterweis Capital Management Inc. reduced its stake in Broadcom by 28.9%, selling 54,725 shares and holding 134,501 shares valued at approximately $22.5 million as of the last SEC filing.
• Broadcom reported $1.58 earnings per share for the last quarter, exceeding analyst expectations, and achieved revenue of $15 billion, a 20.2% increase year-over-year.
• The company announced a quarterly dividend of $0.59 per share, with a dividend yield of 0.8% and a payout ratio of 88.39%.

Osterweis Capital Management Inc. decreased 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 Form 13F filing with the Securities & Exchange Commission. The firm owned 134,501 shares of the semiconductor manufacturer's stock after selling 54,725 shares during the period. Osterweis Capital Management Inc.'s holdings in Broadcom were worth $22,520,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Barnes Dennig Private Wealth Management LLC bought a new position in Broadcom during the first quarter worth about $25,000. Cheviot Value Management LLC bought a new position in shares of Broadcom in the first quarter valued at approximately $25,000. Inlight Wealth Management LLC bought a new position in shares of Broadcom in the first quarter valued at approximately $26,000. Sunbeam Capital Management LLC bought a new position in shares of Broadcom in the fourth quarter valued at approximately $28,000. Finally, Vermillion Wealth Management Inc. bought a new position in shares of Broadcom in the fourth quarter valued at approximately $30,000. Institutional investors own 76.43% of the company's stock.

Broadcom Trading Down 3.5%

Shares of NASDAQ AVGO opened at $294.91 on Wednesday. The company's fifty day moving average is $280.51 and its 200-day moving average is $230.93. The stock has a market cap of $1.39 trillion, a price-to-earnings ratio of 110.45, a P/E/G ratio of 2.17 and a beta of 1.15. Broadcom Inc. has a twelve month low of $134.90 and a twelve month high of $317.35. The company has a quick ratio of 0.98, a current ratio of 1.08 and a debt-to-equity ratio of 0.89.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its quarterly earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share for the quarter, topping analysts' consensus estimates of $1.57 by $0.01. The company 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 business's quarterly revenue was up 20.2% compared to the same quarter last year. During the same period last year, the firm posted $10.96 earnings per share. Broadcom has set its Q3 2025 guidance at EPS. Equities research analysts predict that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 20th were paid a dividend of $0.59 per share. The ex-dividend date was Friday, June 20th. This represents a $2.36 annualized dividend and a dividend yield of 0.8%. Broadcom's payout ratio is currently 88.39%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on AVGO. KeyCorp lifted their target price on shares of Broadcom from $315.00 to $330.00 and gave the company an "overweight" rating in a research note on Tuesday, July 8th. Seaport Res Ptn upgraded shares of Broadcom to a "strong-buy" rating in a research note on Wednesday, April 30th. Truist Financial set a $295.00 price target on shares of Broadcom and gave the company a "buy" rating in a report on Friday, June 6th. Wells Fargo & Company raised their price target on shares of Broadcom from $230.00 to $255.00 and gave the company an "equal weight" rating in a report on Friday, June 6th. Finally, Erste Group Bank raised shares of Broadcom from a "hold" rating to a "buy" rating in a report on Thursday, June 5th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Buy" and an average target price of $295.96.

Insider Activity at Broadcom

In other news, insider Charlie B. Kawwas sold 10,000 shares of the business's stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $252.88, for a total transaction of $2,528,800.00. Following the transaction, the insider directly owned 789,784 shares in the company, valued at $199,720,577.92. The trade was a 1.25% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Kirsten M. Spears sold 56,310 shares of the company's stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $251.75, for a total transaction of $14,176,042.50. Following the completion of the transaction, the chief financial officer owned 361,937 shares in the company, valued at approximately $91,117,639.75. This trade represents a 13.46% decrease in their position. The disclosure for this sale can be found here. Insiders sold 830,516 shares of company stock worth $217,286,457 over the last ninety days. Company insiders own 2.00% of the company's stock.

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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