USS Investment Management Ltd Cuts Position in Broadcom Inc. $AVGO

Key Points

• USS Investment Management Ltd has reduced its position in Broadcom Inc. by 19.1%, selling 170,300 shares and retaining 721,239 shares, which represent 0.9% of its portfolio and a value of approximately $120.8 million.
• In the 1st quarter, various institutional investors significantly increased their stakes in Broadcom, with notable purchases including Price T Rowe Associates adding 17,985,046 shares and GAMMA Investing LLC boosting holdings by 18,179.3%.
• Broadcom's latest quarterly earnings exceeded expectations with an EPS of $1.69 and a revenue of $15.95 billion, marking a 22% annual increase.

USS Investment Management Ltd lessened its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 19.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 721,239 shares of the semiconductor manufacturer's stock after selling 170,300 shares during the quarter. Broadcom comprises approximately 0.9% of USS Investment Management Ltd's investment portfolio, making the stock its 25th largest holding. USS Investment Management Ltd's holdings in Broadcom were worth $120,775,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of AVGO. Barnes Dennig Private Wealth Management LLC acquired a new position in Broadcom in the 1st quarter worth approximately $25,000. Cheviot Value Management LLC acquired a new stake in shares of Broadcom during the 1st quarter worth approximately $25,000. Inlight Wealth Management LLC acquired a new stake in shares of Broadcom during the 1st quarter worth approximately $26,000. Sunbeam Capital Management LLC purchased a new position in shares of Broadcom during the 4th quarter valued at approximately $28,000. Finally, Vermillion Wealth Management Inc. purchased a new position in shares of Broadcom during the 4th quarter valued at approximately $30,000. Institutional investors and hedge funds own 76.43% of the company's stock.

Broadcom Price Performance

AVGO stock traded down $6.61 during midday trading on Thursday, reaching $362.96. The stock had a trading volume of 15,675,818 shares, compared to its average volume of 26,215,135. The company's fifty day simple moving average is $296.92 and its 200 day simple moving average is $239.85. The company has a current ratio of 1.50, a quick ratio of 1.37 and a debt-to-equity ratio of 0.86. The company has a market cap of $1.71 trillion, a price-to-earnings ratio of 92.68, a price-to-earnings-growth ratio of 1.86 and a beta of 1.16. Broadcom Inc. has a 52-week low of $138.10 and a 52-week high of $374.23.

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

Broadcom Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 22nd will be paid a dividend of $0.59 per share. The ex-dividend date is Monday, September 22nd. This represents a $2.36 dividend on an annualized basis and a yield of 0.7%. Broadcom's dividend payout ratio is 60.20%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on AVGO shares. JPMorgan Chase & Co. increased their target price on Broadcom from $325.00 to $400.00 and gave the company an "overweight" rating in a research report on Friday, September 5th. Arete Research upgraded Broadcom to a "strong-buy" rating in a research report on Monday, July 28th. Cantor Fitzgerald reiterated an "overweight" rating and set a $300.00 target price on shares of Broadcom in a research report on Friday, June 6th. Wall Street Zen upgraded Broadcom from a "hold" rating to a "buy" rating in a report on Saturday, September 6th. Finally, Sanford C. Bernstein raised their price objective on Broadcom from $295.00 to $400.00 and gave the company an "outperform" rating in a report on Friday, September 5th. Three research analysts have rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, Broadcom currently has a consensus rating of "Buy" and a consensus price target of $351.92.

Insider Activity at Broadcom

In other Broadcom news, Director Justine Page sold 800 shares of the business's stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $307.46, for a total transaction of $245,968.00. Following the sale, the director directly owned 23,782 shares in the company, valued at $7,312,013.72. This represents a 3.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gayla J. Delly sold 3,000 shares of the business's stock in a transaction dated Thursday, June 26th. The stock was sold at an average price of $265.13, for a total value of $795,390.00. Following the transaction, the director directly owned 33,352 shares of the company's stock, valued at approximately $8,842,615.76. This represents a 8.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders bought 3,550 shares of company stock valued at $1,227,869 and sold 702,758 shares valued at $184,975,481. 2.00% of the stock is currently owned by company insiders.

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.