Broadcom Inc. $AVGO Shares Sold by Voleon Capital Management LP

Key Points

• Voleon Capital Management LP reduced its investment in Broadcom Inc. by 39.4%, selling 24,331 shares during the quarter and now holding a total of 37,404 shares worth approximately $6.26 million.
• Analysts have raised their price targets for Broadcom, with KeyCorp setting a target of $400 and several others also increasing their estimates, indicating a strong > consensus "Buy" rating for the stock.
• Insider trades involved significant sales, with key figures like Mark David Brazeal selling 50,000 shares valued at over $12.66 million, contributing to a total of 830,516 shares sold by insiders in the last quarter.

Voleon Capital Management LP trimmed its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 39.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,404 shares of the semiconductor manufacturer's stock after selling 24,331 shares during the period. Voleon Capital Management LP's holdings in Broadcom were worth $6,263,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Challenger Wealth Management raised its holdings in Broadcom by 1.3% during the 1st quarter. Challenger Wealth Management now owns 3,504 shares of the semiconductor manufacturer's stock valued at $587,000 after buying an additional 45 shares during the period. Ashton Thomas Private Wealth LLC boosted its position in Broadcom by 0.7% during the first quarter. Ashton Thomas Private Wealth LLC now owns 123,438 shares of the semiconductor manufacturer's stock valued at $20,667,000 after purchasing an additional 894 shares in the last quarter. Guardian Partners Inc. boosted its position in Broadcom by 36.1% during the first quarter. Guardian Partners Inc. now owns 7,450 shares of the semiconductor manufacturer's stock valued at $1,318,000 after purchasing an additional 1,975 shares in the last quarter. Sender Co & Partners Inc. bought a new stake in Broadcom during the first quarter valued at about $1,454,000. Finally, Kestra Investment Management LLC raised its stake in Broadcom by 39.6% in the first quarter. Kestra Investment Management LLC now owns 37,502 shares of the semiconductor manufacturer's stock valued at $6,279,000 after buying an additional 10,634 shares during the last quarter. Hedge funds and other institutional investors own 76.43% of the company's stock.

Analysts Set New Price Targets

AVGO has been the subject of a number of research analyst reports. Argus increased their price target on Broadcom from $285.00 to $375.00 and gave the company a "buy" rating in a research note on Monday. KeyCorp lifted their price target on Broadcom from $330.00 to $400.00 and gave the company an "overweight" rating in a research report on Friday, September 5th. Mizuho boosted their price objective on Broadcom from $320.00 to $355.00 and gave the company an "outperform" rating in a research report on Friday, September 5th. Sanford C. Bernstein boosted their price objective on Broadcom from $295.00 to $400.00 and gave the company an "outperform" rating in a research report on Friday, September 5th. Finally, Wells Fargo & Company boosted their price target on Broadcom from $255.00 to $345.00 and gave the stock an "equal weight" rating in a research 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 given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $351.92.

Insider Transactions at Broadcom

In other news, insider Mark David Brazeal sold 50,000 shares of the firm'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 sale, the insider owned 415,956 shares in the company, valued at $105,353,335.68. This trade represents a 10.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Henry Samueli sold 473,898 shares of the firm's stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $265.33, for a total value of $125,739,356.34. Following the sale, the director owned 38,188,575 shares in the company, valued at $10,132,574,604.75. This trade represents a 1.23% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 820,516 shares of company stock worth $214,757,657 over the last ninety days. 2.00% of the stock is currently owned by corporate insiders.

Broadcom Stock Up 9.8%

Shares of NASDAQ:AVGO traded up $32.90 on Wednesday, hitting $369.57. 50,962,070 shares of the company's stock were exchanged, compared to its average volume of 26,280,023. 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 PE ratio of 94.28, a P/E/G ratio of 1.89 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 debt-to-equity ratio of 0.86, a quick ratio of 1.37 and a current ratio of 1.50.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced 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. The firm had revenue of $15.95 billion during the quarter, compared to analysts' expectations of $15.82 billion. Broadcom had a return on equity of 36.60% and a net margin of 31.59%.The business's revenue was up 22.0% on a year-over-year basis. During the same period in the prior year, the firm earned $1.24 EPS. Broadcom has set its Q4 2025 guidance at EPS. Sell-side analysts predict that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Dividend Announcement

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 $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Monday, September 22nd. Broadcom's dividend payout ratio (DPR) is presently 60.20%.

Broadcom 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.