WealthPLAN Partners LLC Lowers Stock Holdings in Broadcom Inc. $AVGO

Key Points

• WealthPLAN Partners LLC cut its Broadcom stake by 53.5% in the first quarter, selling 4,506 shares and leaving it with 3,910 shares valued at about $1.21 million.
• Broadcom posted strong quarterly results, beating EPS and revenue estimates with $2.44 per share on $22.19 billion in revenue, while revenue jumped 47.9% year over year.
• Analysts remain mostly bullish on AVGO, with several firms raising price targets and a consensus rating of “Moderate Buy,” though some recent coverage raised valuation concerns.

WealthPLAN Partners LLC lowered its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 53.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,910 shares of the semiconductor manufacturer's stock after selling 4,506 shares during the period. WealthPLAN Partners LLC's holdings in Broadcom were worth $1,210,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Brighton Jones LLC lifted its position in Broadcom by 21.8% in the fourth quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer's stock valued at $6,882,000 after purchasing an additional 5,322 shares during the period. Revolve Wealth Partners LLC raised its stake in shares of Broadcom by 10.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 7,997 shares of the semiconductor manufacturer's stock worth $1,854,000 after buying an additional 756 shares in the last quarter. United Bank raised its stake in shares of Broadcom by 76.5% during the 1st quarter. United Bank now owns 2,339 shares of the semiconductor manufacturer's stock worth $392,000 after buying an additional 1,014 shares in the last quarter. Sivia Capital Partners LLC lifted its holdings in shares of Broadcom by 10.1% in the 2nd quarter. Sivia Capital Partners LLC now owns 12,693 shares of the semiconductor manufacturer's stock valued at $3,499,000 after buying an additional 1,160 shares during the period. Finally, Capital & Planning LLC lifted its holdings in shares of Broadcom by 10.5% in the 2nd quarter. Capital & Planning LLC now owns 3,983 shares of the semiconductor manufacturer's stock valued at $1,098,000 after buying an additional 378 shares during the period. Hedge funds and other institutional investors own 76.43% of the company's stock.

Broadcom Price Performance

Broadcom stock traded down $1.14 during trading hours on Friday, hitting $399.97. The stock had a trading volume of 14,579,242 shares, compared to its average volume of 26,802,910. Broadcom Inc. has a 1-year low of $269.58 and a 1-year high of $495.00. The stock has a market capitalization of $1.90 trillion, a price-to-earnings ratio of 66.66, a PEG ratio of 0.70 and a beta of 1.45. The stock's fifty day moving average is $405.29 and its two-hundred day moving average is $364.13. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.24 and a quick ratio of 2.01.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its quarterly earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.40 by $0.04. The business had revenue of $22.19 billion during the quarter, compared to the consensus estimate of $22.13 billion. Broadcom had a return on equity of 41.61% and a net margin of 38.85%.The business's revenue was up 47.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.58 EPS. As a group, analysts predict that Broadcom Inc. will post 10.24 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 22nd were issued a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Monday, June 22nd. Broadcom's dividend payout ratio is 43.33%.

Insider Buying and Selling at Broadcom

In other news, insider Mark David Brazeal sold 25,000 shares of the firm's stock in a transaction that occurred on Wednesday, July 8th. The shares were sold at an average price of $379.19, for a total transaction of $9,479,750.00. Following the completion of the transaction, the insider directly owned 219,989 shares of the company's stock, valued at $83,417,628.91. This trade represents a 10.20% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Gayla J. Delly sold 1,890 shares of Broadcom stock in a transaction that occurred on Wednesday, July 8th. The stock was sold at an average price of $385.38, for a total value of $728,368.20. Following the transaction, the director owned 31,326 shares of the company's stock, valued at $12,072,413.88. This represents a 5.69% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 36,644 shares of company stock worth $13,982,964 over the last ninety days. 1.90% of the stock is currently owned by company insiders.

Key Headlines Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom’s expanded Apple agreement, valued at more than $30 billion through 2031, strengthens visibility for revenue and highlights demand beyond AI chips. Why Broadcom Stock Rose Today
• Positive Sentiment: Analysts remain upbeat on Broadcom’s AI business, with Jefferies reiterating a Buy rating and a $550 price target as AI chip momentum improves. Broadcom’s (AVGO) AI Chip Momentum Keeps Wall Street Bullish
• Positive Sentiment: Broadcom is being viewed as a broader AI infrastructure winner because its networking products help connect large-scale AI systems, expanding the investment thesis beyond GPUs and custom chips. Broadcom stock's latest catalyst targets Nvidia where it looks strongest
• Neutral Sentiment: Some coverage notes Broadcom’s near-$2 trillion market value and strong AI revenue growth, but also suggests much of the good news may already be reflected in the stock. Broadcom Is Less Than 5% From the $2 Trillion Club -- and Apple Just Committed $30 Billion for More Chips
• Negative Sentiment: Erste Group downgraded Broadcom to Hold, citing valuation concerns, which may be limiting upside after the recent rally. Erste Group downgrades Broadcom to Hold citing valuation concerns

Analyst Ratings Changes

AVGO has been the topic of a number of recent analyst reports. Morgan Stanley set a $502.00 price objective on Broadcom and gave the stock an "overweight" rating in a report on Thursday, June 4th. Benchmark raised their target price on Broadcom from $485.00 to $545.00 and gave the company a "buy" rating in a report on Thursday, June 4th. JPMorgan Chase & Co. boosted their target price on shares of Broadcom from $500.00 to $580.00 and gave the stock an "overweight" rating in a research report on Thursday, June 4th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a $515.00 price target (up from $430.00) on shares of Broadcom in a research note on Thursday, June 4th. Finally, Seaport Research Partners reiterated a "neutral" rating on shares of Broadcom in a research note on Wednesday, April 8th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, Broadcom currently has a consensus rating of "Moderate Buy" and an average price target of $493.24.

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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