Voya Investment Management LLC Sells 1,276,853 Shares of Broadcom Inc. $AVGO

Key Points

• Voya Investment Management LLC reduced its holdings in Broadcom Inc. by 11.6%, selling 1,276,853 shares, which now make up about 1.8% of its portfolio.
• Several hedge funds, including Nuveen LLC and Price T Rowe Associates Inc., have significantly increased their stakes in Broadcom, indicating strong institutional interest in the stock.
• Analyst ratings for Broadcom are generally positive, with an average price target of $351.92 and numerous upgrades from major firms, reflecting a robust outlook for the company's performance.

Voya Investment Management LLC decreased its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 11.6% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,756,015 shares of the semiconductor manufacturer's stock after selling 1,276,853 shares during the period. Broadcom accounts for about 1.8% of Voya Investment Management LLC's portfolio, making the stock its 6th biggest holding. Voya Investment Management LLC owned approximately 0.21% of Broadcom worth $1,632,732,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Broadcom by 0.4% in the first quarter. Vanguard Group Inc. now owns 477,220,137 shares of the semiconductor manufacturer's stock worth $79,900,968,000 after buying an additional 2,085,534 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in Broadcom by 37.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 65,509,579 shares of the semiconductor manufacturer's stock valued at $10,968,270,000 after purchasing an additional 17,985,046 shares during the period. Nuveen LLC purchased a new stake in shares of Broadcom in the first quarter worth approximately $6,649,117,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Broadcom by 2.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 35,243,467 shares of the semiconductor manufacturer's stock worth $5,900,814,000 after buying an additional 842,088 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Broadcom by 1.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 34,401,379 shares of the semiconductor manufacturer's stock worth $7,975,616,000 after buying an additional 581,704 shares during the period. Institutional investors own 76.43% of the company's stock.

Insider Transactions at Broadcom

In other news, Director Harry L. You bought 500 shares of Broadcom stock in a transaction that occurred on Wednesday, September 10th. The stock was bought at an average price of $363.38 per share, for a total transaction of $181,690.00. Following the purchase, the director directly owned 35,602 shares of the company's stock, valued at approximately $12,937,054.76. The trade was a 1.42% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Hock E. Tan sold 148,154 shares of Broadcom stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $336.67, for a total value of $49,879,007.18. Following the transaction, the chief executive officer owned 825,998 shares of the company's stock, valued at $278,088,746.66. The trade was a 15.21% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have acquired 3,550 shares of company stock worth $1,227,869 and have sold 850,912 shares worth $234,854,489. Company insiders own 2.00% of the company's stock.

Broadcom Stock Up 0.1%

NASDAQ AVGO traded up $0.24 during midday trading on Friday, hitting $359.87. 31,929,014 shares of the company traded hands, compared to its average volume of 25,328,086. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.50 and a quick ratio of 1.37. The company has a market cap of $1.69 trillion, a PE ratio of 91.80, a price-to-earnings-growth ratio of 1.99 and a beta of 1.16. The company's 50-day simple moving average is $300.31 and its 200-day simple moving average is $242.19. 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 announced its earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.66 by $0.03. The business had revenue of $15.95 billion for 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 for the quarter was up 22.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.24 EPS. Broadcom has set its Q4 2025 guidance at EPS. As a group, equities research analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 22nd will be given a $0.59 dividend. The ex-dividend date of this dividend is Monday, September 22nd. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.7%. Broadcom's dividend payout ratio (DPR) is presently 60.20%.

Analysts Set New Price Targets

AVGO has been the topic of several recent analyst reports. The Goldman Sachs Group reiterated a "buy" rating and issued a $340.00 price target on shares of Broadcom in a report on Wednesday, August 13th. KeyCorp increased their price objective on Broadcom from $330.00 to $400.00 and gave the stock an "overweight" rating in a research note on Friday, September 5th. Sanford C. Bernstein increased their price objective on Broadcom from $295.00 to $400.00 and gave the stock an "outperform" rating in a research note on Friday, September 5th. Hsbc Global Res raised Broadcom from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, June 24th. Finally, UBS Group increased their price objective on Broadcom from $290.00 to $345.00 and gave the stock a "buy" rating in a research note on Monday, August 25th. Three equities 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 company. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $354.04.

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.