Rafferty Asset Management LLC Has $539.98 Million Position in Broadcom Inc. $AVGO

Key Points

• Rafferty Asset Management LLC reduced its stake in Broadcom Inc. by 29.4% in Q1, bringing their total shares to 3,225,088, valued at approximately $539.98 million.
• Several institutional investors increased their holdings in Broadcom, with 76.43% of shares currently held by such entities.
• Analyst upgrades have raised Broadcom's price targets, with Piper Sandler increasing their target from $300 to $315, reflecting a generally positive outlook for the stock.

Rafferty Asset Management LLC trimmed its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 29.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,225,088 shares of the semiconductor manufacturer's stock after selling 1,345,277 shares during the quarter. Broadcom makes up 2.3% of Rafferty Asset Management LLC's portfolio, making the stock its 6th biggest position. Rafferty Asset Management LLC owned 0.07% of Broadcom worth $539,976,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Kitching Partners LLC acquired a new stake in Broadcom in the first quarter worth about $216,000. FORA Capital LLC acquired a new stake in Broadcom in the first quarter worth about $7,083,000. Harvest Portfolios Group Inc. increased its position in Broadcom by 40.6% in the first quarter. Harvest Portfolios Group Inc. now owns 277,580 shares of the semiconductor manufacturer's stock worth $46,475,000 after purchasing an additional 80,191 shares during the period. Orion Capital Management LLC increased its position in Broadcom by 7.3% in the first quarter. Orion Capital Management LLC now owns 1,175 shares of the semiconductor manufacturer's stock worth $197,000 after purchasing an additional 80 shares during the period. Finally, South Plains Financial Inc. increased its position in Broadcom by 19.5% in the first quarter. South Plains Financial Inc. now owns 4,326 shares of the semiconductor manufacturer's stock worth $724,000 after purchasing an additional 705 shares during the period. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Piper Sandler boosted their target price on Broadcom from $300.00 to $315.00 and gave the stock an "overweight" rating in a research report on Friday. Evercore ISI reiterated an "outperform" rating and issued a $304.00 price objective (up from $267.00) on shares of Broadcom in a research report on Friday, June 6th. Wall Street Zen cut Broadcom from a "buy" rating to a "hold" rating in a research note on Monday. Morgan Stanley set a $338.00 price objective on Broadcom and gave the stock an "overweight" rating in a research note on Wednesday, July 30th. Finally, Mizuho upped their price objective on Broadcom from $315.00 to $320.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 16th. Three analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, Broadcom currently has an average rating of "Buy" and a consensus price target of $300.96.

Insider Transactions at Broadcom

In related news, Director Justine Page sold 800 shares of Broadcom stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $307.46, for a total transaction of $245,968.00. Following the transaction, the director owned 23,782 shares of the company's stock, valued at $7,312,013.72. The trade was a 3.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Gayla J. Delly sold 3,000 shares of Broadcom stock in a transaction on Thursday, June 26th. The stock was sold at an average price of $265.13, for a total value of $795,390.00. Following the sale, the director owned 33,352 shares in the company, valued at $8,842,615.76. This trade represents a 8.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 830,516 shares of company stock valued at $217,286,457. Company insiders own 2.00% of the company's stock.

Broadcom Stock Performance

AVGO opened at $294.23 on Tuesday. The firm has a market cap of $1.38 trillion, a P/E ratio of 110.20, a price-to-earnings-growth ratio of 2.09 and a beta of 1.15. Broadcom Inc. has a 52-week low of $134.90 and a 52-week 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. The business's fifty day moving average is $283.69 and its 200-day moving average is $232.83.

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

Broadcom Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 20th were paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend was Friday, June 20th. Broadcom's dividend payout ratio (DPR) is 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.

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