Resources Management Corp CT ADV Cuts Holdings in Broadcom Inc. $AVGO

Key Points

• Resources Management Corp CT ADV reduced its stake in Broadcom by 3.3%, now holding 68,682 shares valued at approximately $11.5 million, making Broadcom its 15th largest investment.
• Analysts have generally rated Broadcom positively, with recent price target upgrades from Benchmark raising the target from $315 to $385 and other firms also adjusting their estimates to reflect favorable outlooks.
• Insider trading activity shows significant selling, with notable sales by insider Charlie B. Kawwas and director Henry Samueli, indicating potential caution among insiders.

Resources Management Corp CT ADV decreased its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 3.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 68,682 shares of the semiconductor manufacturer's stock after selling 2,317 shares during the quarter. Broadcom makes up approximately 1.6% of Resources Management Corp CT ADV's portfolio, making the stock its 15th largest position. Resources Management Corp CT ADV's holdings in Broadcom were worth $11,500,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Waddell & Associates LLC increased its stake in Broadcom by 2.1% in the 1st quarter. Waddell & Associates LLC now owns 2,091 shares of the semiconductor manufacturer's stock valued at $350,000 after buying an additional 43 shares during the last quarter. True Wealth Design LLC grew its holdings in shares of Broadcom by 7.2% in the fourth quarter. True Wealth Design LLC now owns 712 shares of the semiconductor manufacturer's stock valued at $165,000 after acquiring an additional 48 shares in the last quarter. Wescott Financial Advisory Group LLC increased its position in shares of Broadcom by 3.8% during the first quarter. Wescott Financial Advisory Group LLC now owns 1,326 shares of the semiconductor manufacturer's stock valued at $222,000 after acquiring an additional 48 shares during the last quarter. Martingale Asset Management L P lifted its holdings in Broadcom by 1.3% during the first 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 during the period. Finally, Monterey Private Wealth Inc. boosted its position in Broadcom by 1.8% in the first quarter. Monterey Private Wealth Inc. now owns 2,780 shares of the semiconductor manufacturer's stock worth $465,000 after purchasing an additional 48 shares during the last quarter. Hedge funds and other institutional investors own 76.43% of the company's stock.

Wall Street Analysts Forecast Growth

AVGO has been the subject of several research analyst reports. Cowen reaffirmed a "buy" rating on shares of Broadcom in a research report on Friday, June 6th. TD Cowen raised their price objective on shares of Broadcom from $355.00 to $370.00 and gave the stock a "buy" rating in a report on Friday, September 5th. Susquehanna boosted their target price on shares of Broadcom from $280.00 to $300.00 and gave the company a "positive" rating in a research note on Friday, June 6th. Morgan Stanley increased their target price on shares of Broadcom from $338.00 to $357.00 and gave the company an "overweight" rating in a research report on Tuesday, September 2nd. Finally, Rosenblatt Securities lifted their price target on shares of Broadcom from $340.00 to $400.00 and gave the stock a "buy" rating in a report on Friday, September 5th. Three analysts have rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, Broadcom currently has a consensus rating of "Buy" and an average target price of $351.92.

Broadcom Stock Performance

Shares of AVGO stock traded up $32.90 during trading on Wednesday, reaching $369.57. 51,004,415 shares of the company's stock traded hands, compared to its average volume of 22,956,638. The firm's 50-day moving average is $294.92 and its 200 day moving average is $238.95. The company has a market capitalization of $1.74 trillion, a P/E ratio of 64.25, a PEG ratio of 1.86 and a beta of 1.16. Broadcom Inc. has a 1 year low of $138.10 and a 1 year high of $372.97. The company has a current ratio of 1.50, a quick ratio of 1.37 and a debt-to-equity ratio of 0.86.

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

Broadcom Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 22nd will be paid a dividend of $0.59 per share. The ex-dividend date of this dividend is Monday, September 22nd. This represents a $2.36 annualized dividend and a yield of 0.6%. Broadcom's payout ratio is currently 60.20%.

Insider Buying and Selling at Broadcom

In other Broadcom news, CFO Kirsten M. Spears sold 36,350 shares of the stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $261.27, for a total value of $9,497,164.50. Following the sale, the chief financial officer directly owned 325,587 shares in the company, valued at $85,066,115.49. This represents a 10.04% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Hock E. Tan sold 40,000 shares of the firm's stock in a transaction on Thursday, June 26th. The shares were sold at an average price of $268.29, for a total transaction of $10,731,600.00. Following the completion of the transaction, the chief executive officer directly owned 482,836 shares of the company's stock, valued at approximately $129,540,070.44. The trade was a 7.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 820,516 shares of company stock worth $214,757,657 in the last ninety days. 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.