Secured Retirement Advisors LLC Sells 1,607 Shares of Broadcom Inc. $AVGO

Key Points

• Secured Retirement Advisors LLC reduced its Broadcom stake by 18.8% in the first quarter, selling 1,607 shares and leaving it with 6,955 shares worth about $2.15 million.
• Broadcom posted strong quarterly results, with EPS of $2.44 beating estimates and revenue of $22.19 billion rising 47.9% year over year. The company also announced and paid a quarterly dividend of $0.65 per share.
• Despite some insider selling and a recent share pullback, analysts remain bullish on AVGO, with several firms raising price targets and MarketBeat’s average target at $493.24 versus a recent price around $360.45.

Secured Retirement Advisors LLC cut its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 18.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,955 shares of the semiconductor manufacturer's stock after selling 1,607 shares during the quarter. Broadcom accounts for 1.2% of Secured Retirement Advisors LLC's portfolio, making the stock its 22nd biggest holding. Secured Retirement Advisors LLC's holdings in Broadcom were worth $2,153,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Brown Brothers Harriman & Co. lifted its holdings in shares of Broadcom by 10.7% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 77,411 shares of the semiconductor manufacturer's stock worth $25,539,000 after acquiring an additional 7,499 shares during the period. Sovran Advisors LLC boosted its position in shares of Broadcom by 121.3% during the 4th quarter. Sovran Advisors LLC now owns 30,631 shares of the semiconductor manufacturer's stock valued at $10,507,000 after acquiring an additional 16,789 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. increased its stake in Broadcom by 406.1% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 11,994 shares of the semiconductor manufacturer's stock valued at $4,151,000 after acquiring an additional 9,624 shares during the period. Aspiriant LLC increased its stake in Broadcom by 18.5% in the fourth quarter. Aspiriant LLC now owns 12,016 shares of the semiconductor manufacturer's stock valued at $4,158,000 after acquiring an additional 1,872 shares during the period. Finally, World Investment Advisors raised its position in Broadcom by 16.1% in the fourth quarter. World Investment Advisors now owns 177,710 shares of the semiconductor manufacturer's stock worth $61,505,000 after purchasing an additional 24,703 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors.

Broadcom Stock Performance

Shares of NASDAQ:AVGO opened at $360.45 on Friday. The business has a fifty day moving average of $407.92 and a 200-day moving average of $362.33. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.01 and a current ratio of 2.24. Broadcom Inc. has a twelve month low of $269.58 and a twelve month high of $495.00. The firm has a market cap of $1.71 trillion, a PE ratio of 60.08, a price-to-earnings-growth ratio of 0.63 and a beta of 1.45.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its quarterly earnings data on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 EPS for the quarter, topping analysts' consensus estimates of $2.40 by $0.04. The firm had revenue of $22.19 billion for the quarter, compared to analyst estimates of $22.13 billion. Broadcom had a net margin of 38.85% and a return on equity of 41.61%. The company's revenue was up 47.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.58 EPS. On average, equities research analysts predict that Broadcom Inc. will post 10.24 EPS for the current fiscal year.

Broadcom Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 22nd were given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Monday, June 22nd. Broadcom's dividend payout ratio is presently 43.33%.

Insider Buying and Selling at Broadcom

In related news, Director Gayla J. Delly sold 1,000 shares of the firm's stock in a transaction that occurred on Thursday, April 9th. The shares were sold at an average price of $358.31, for a total value of $358,310.00. Following the completion of the sale, the director owned 32,352 shares of the company's stock, valued at $11,592,045.12. This trade represents a 3.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Justine Page sold 1,602 shares of the business's stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $373.86, for a total transaction of $598,923.72. Following the completion of the transaction, the director owned 17,426 shares of the company's stock, valued at $6,514,884.36. This trade represents a 8.42% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 60,987 shares of company stock valued at $21,899,980 over the last three months. Insiders own 1.90% of the company's stock.

Analyst Upgrades and Downgrades

AVGO has been the subject of a number of analyst reports. TD Cowen restated a "buy" rating and set a $500.00 price target on shares of Broadcom in a research note on Thursday, June 4th. Bank of America upped their price objective on Broadcom from $450.00 to $530.00 and gave the company a "buy" rating in a research note on Thursday, June 4th. UBS Group set a $485.00 target price on Broadcom and gave the stock a "buy" rating in a report on Thursday, June 4th. Wells Fargo & Company restated an "overweight" rating and set a $545.00 target price (up from $430.00) on shares of Broadcom in a research report on Thursday, May 14th. Finally, Susquehanna reaffirmed a "positive" rating and issued a $490.00 price target (up from $450.00) on shares of Broadcom in a research note on Thursday, May 28th. One analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $493.24.

Key Headlines Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: JPMorgan, UBS, Jefferies and other analysts remain constructive on Broadcom’s AI-driven growth, with price targets well above current levels and continued optimism around custom AI silicon demand, including exposure to customers such as OpenAI and Anthropic. UBS Reaffirms Buy Rating on Broadcom (AVGO) Amid AI ASIC Demand and OpenAI, Anthropic Growth
• Positive Sentiment: Articles highlighting Broadcom’s partnership with OpenAI on the “Jalapeño” AI accelerator reinforce the market’s bullish view that AI infrastructure can keep driving revenue growth. What Broadcom (AVGO)'s Jalapeño AI Accelerator Partnership With OpenAI Means For Shareholders
• Neutral Sentiment: Several recent write-ups argue Broadcom may be attractive after its pullback, but they mostly restate the same long-term thesis rather than pointing to a new catalyst. Why Broadcom Stock Slumped Today
• Neutral Sentiment: Investors continue to search for clues on whether Broadcom can rebound from its post-earnings decline, with coverage focusing on earnings estimates and fair-value changes. Broadcom (AVGO) Stock Gets Fair Value Boost As Analysts Split On AI Outlook
• Negative Sentiment: Director Justine Page sold 1,602 shares of Broadcom stock, extending insider-selling headlines that can weigh on sentiment even if the sale is relatively small versus the company’s size. SEC Form 4 filing for Justine Page sale
• Negative Sentiment: Broadcom remains about 14% below its last earnings report level, and recent commentary suggests investors are still uneasy about whether the company’s strong results were enough to justify its premium valuation. Broadcom Inc. (AVGO) Down 14% Since Last Earnings Report: Can It Rebound?

About Broadcom

Broadcom Inc NASDAQ: AVGO is a global technology company that designs, develops and supplies semiconductor and infrastructure software solutions for a broad range of markets. The company's semiconductor business provides components and systems for wired and wireless communications, enterprise and cloud storage, networking and broadband access, serving original equipment manufacturers, cloud service providers, telecommunications carriers and industrial customers worldwide. Broadcom is headquartered in Irvine, California, and operates globally with research, development and sales organizations across North America, Europe and Asia.

On the semiconductor side, Broadcom's portfolio includes system-on-chip (SoC) and application-specific integrated circuit (ASIC) solutions, radio-frequency and connectivity components, Ethernet switching and PHY devices, storage adapters and controllers, optical transceivers and other networking silicon.

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