Titleist Asset Management LLC Has $5.35 Million Stock Position in Broadcom Inc. $AVGO

Key Points

• Titleist Asset Management LLC reduced its stake in Broadcom Inc. by 3.9%, now holding 31,950 shares valued at approximately $5.35 million after selling 1,312 shares in the first quarter.
• Broadcom's CEO, Hock E. Tan, sold 117,758 shares for nearly $30 million, representing a 10.40% decrease in ownership, while the company reported significant earnings, beating estimates with $1.58 EPS.
• Broadcom's stock has received several upgraded ratings from analysts, with a current average target price of $301.79, indicating strong buy sentiments amidst a recent stock price of $297.39.

Titleist Asset Management LLC trimmed its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 3.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 31,950 shares of the semiconductor manufacturer's stock after selling 1,312 shares during the period. Titleist Asset Management LLC's holdings in Broadcom were worth $5,349,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of AVGO. Brighton Jones LLC grew its holdings in shares of Broadcom by 21.8% in the 4th quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer's stock valued at $6,882,000 after acquiring an additional 5,322 shares in the last quarter. Revolve Wealth Partners LLC boosted its position in Broadcom by 10.4% during the fourth quarter. Revolve Wealth Partners LLC now owns 7,997 shares of the semiconductor manufacturer's stock valued at $1,854,000 after purchasing an additional 756 shares during the last quarter. Bank Pictet & Cie Europe AG grew its stake in Broadcom by 16.4% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 221,199 shares of the semiconductor manufacturer's stock valued at $51,283,000 after purchasing an additional 31,225 shares in the last quarter. Renaissance Technologies LLC bought a new position in Broadcom in the fourth quarter valued at approximately $602,000. Finally, Westbourne Investments Inc. acquired a new position in shares of Broadcom during the 4th quarter worth approximately $211,000. 76.43% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on AVGO. Mizuho increased their price objective on Broadcom from $315.00 to $320.00 and gave the company an "outperform" rating in a report on Wednesday, July 16th. Citigroup increased their price target 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. Rosenblatt Securities lifted their price objective on shares of Broadcom from $223.00 to $340.00 and gave the company a "buy" rating in a research report on Friday, June 6th. Bank of America upped their target price on shares of Broadcom from $240.00 to $300.00 and gave the company a "buy" rating in a report on Friday, June 6th. Finally, Benchmark lifted their price target on Broadcom from $255.00 to $315.00 and gave the stock a "buy" rating in a report on Friday, June 6th. 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 stock. According to data from MarketBeat, Broadcom currently has an average rating of "Buy" and a consensus target price of $302.58.

Insider Buying and Selling at Broadcom

In other Broadcom news, CFO Kirsten M. Spears sold 56,310 shares of the firm's stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $251.75, for a total value of $14,176,042.50. Following the sale, the chief financial officer owned 361,937 shares in the company, valued at $91,117,639.75. This trade represents a 13.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Mark David Brazeal sold 50,000 shares of the company's stock in a transaction on Monday, June 23rd. The stock was sold at an average price of $253.28, for a total transaction of $12,664,000.00. Following the transaction, the insider owned 415,956 shares of the company's stock, valued at $105,353,335.68. This trade represents a 10.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 830,516 shares of company stock worth $217,286,457 over the last 90 days. 2.00% of the stock is owned by corporate insiders.

Broadcom Price Performance

Shares of NASDAQ:AVGO traded up $0.78 during trading on Tuesday, reaching $298.17. 16,390,008 shares of the company traded hands, compared to its average volume of 25,699,363. 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 52 week low of $134.90 and a 52 week high of $317.35. The firm has a market capitalization of $1.40 trillion, a PE ratio of 111.67, a PEG ratio of 2.11 and a beta of 1.16. The company's 50 day moving average is $288.61 and its two-hundred day moving average is $235.11.

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

Broadcom Announces Dividend

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

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.