Resolute Advisors LLC Lowers Position in Broadcom Inc. $AVGO

Key Points

• Resolute Advisors LLC significantly reduced its stake in Broadcom Inc. by 94.6% in the first quarter, resulting in ownership of only 199 shares worth approximately $33,000.
• Insiders at Broadcom sold a total of 830,516 shares valued at over $217 million in the last 90 days, indicating potential profit-taking among executives.
• Broadcom's most recent quarterly earnings surpassed analysts' expectations with an EPS of $1.58, while the company has set a fiscal year EPS guidance of 5.38.

Resolute Advisors LLC lowered its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 94.6% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 199 shares of the semiconductor manufacturer's stock after selling 3,508 shares during the quarter. Resolute Advisors LLC's holdings in Broadcom were worth $33,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Barnes Dennig Private Wealth Management LLC bought a new position in Broadcom during the 1st quarter worth approximately $25,000. Cheviot Value Management LLC bought a new stake in Broadcom during the 1st quarter valued at $25,000. Inlight Wealth Management LLC purchased a new stake in Broadcom during the 1st quarter valued at $26,000. Sunbeam Capital Management LLC purchased a new position in shares of Broadcom in the fourth quarter valued at about $28,000. Finally, Vermillion Wealth Management Inc. bought a new position in shares of Broadcom during the fourth quarter valued at about $30,000. 76.43% of the stock is currently owned by institutional investors.

Insider Activity at Broadcom

In other Broadcom news, CFO Kirsten M. Spears sold 36,350 shares of the firm'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 directly owned 325,587 shares of the company's stock, valued at approximately $85,066,115.49. This trade represents a 10.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 transaction of $125,739,356.34. Following the sale, the director directly owned 38,188,575 shares of the company's stock, valued at $10,132,574,604.75. The trade was a 1.23% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 830,516 shares of company stock valued at $217,286,457 in the last 90 days. 2.00% of the stock is owned by company insiders.

Broadcom Price Performance

Shares of NASDAQ AVGO opened at $291.17 on Thursday. The company has a 50 day moving average of $281.27 and a 200 day moving average of $231.35. 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 Inc. has a twelve month low of $134.90 and a twelve month high of $317.35. The firm has a market cap of $1.37 trillion, a P/E ratio of 109.05, a PEG ratio of 2.10 and a beta of 1.15.

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 (EPS) for the quarter, beating analysts' consensus estimates of $1.57 by $0.01. Broadcom had a return on equity of 35.49% and a net margin of 22.64%.The firm had revenue of $15 billion for the quarter, compared to the consensus estimate of $14.98 billion. During the same period in the prior year, the company posted $10.96 earnings per share. The company's quarterly revenue was up 20.2% on a year-over-year basis. Broadcom has set its Q3 2025 guidance at EPS. As a group, research analysts expect that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 20th were paid 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 was Friday, June 20th. Broadcom's dividend payout ratio (DPR) is 88.39%.

Analyst Ratings Changes

AVGO has been the topic of a number of recent analyst reports. Cowen reiterated a "buy" rating on shares of Broadcom in a research report on Friday, June 6th. Evercore ISI reissued an "outperform" rating and set a $304.00 price objective (up from $267.00) on shares of Broadcom in a research report on Friday, June 6th. Wall Street Zen raised shares of Broadcom from a "hold" rating to a "buy" rating in a research report on Sunday. Citigroup lifted their target price on shares of Broadcom from $285.00 to $315.00 and gave the company a "buy" rating in a research note on Monday, July 7th. Finally, Arete Research upgraded shares of Broadcom to a "strong-buy" rating in a report on Monday, July 28th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, Broadcom currently has a consensus rating of "Buy" and an average price target of $295.96.

Broadcom Company 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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