WealthPLAN Partners LLC Trims Position in Broadcom Inc. $AVGO

WealthPLAN Partners LLC lowered its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 53.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,910 shares of the semiconductor manufacturer’s stock after selling 4,506 shares during the quarter. WealthPLAN Partners LLC’s holdings in Broadcom were worth $1,210,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AVGO. Brighton Jones LLC boosted its holdings in shares of Broadcom by 21.8% during the fourth quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer’s stock worth $6,882,000 after purchasing an additional 5,322 shares during the last quarter. Revolve Wealth Partners LLC increased its stake in Broadcom by 10.4% in 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. United Bank lifted its position in Broadcom by 76.5% during the first quarter. United Bank now owns 2,339 shares of the semiconductor manufacturer’s stock worth $392,000 after buying an additional 1,014 shares during the period. Sivia Capital Partners LLC lifted its position in Broadcom by 10.1% during the second quarter. Sivia Capital Partners LLC now owns 12,693 shares of the semiconductor manufacturer’s stock worth $3,499,000 after buying an additional 1,160 shares during the period. Finally, Capital & Planning LLC boosted its stake in Broadcom by 10.5% in the 2nd quarter. Capital & Planning LLC now owns 3,983 shares of the semiconductor manufacturer’s stock worth $1,098,000 after buying an additional 378 shares during the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have commented on AVGO. Jefferies Financial Group set a $550.00 price target on Broadcom and gave the company a “buy” rating in a report on Thursday, June 4th. Citigroup reiterated a “buy” rating on shares of Broadcom in a report on Thursday, June 4th. Zacks Research cut shares of Broadcom from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 21st. The Goldman Sachs Group restated a “buy” rating and issued a $525.00 target price on shares of Broadcom in a report on Thursday, June 4th. Finally, Dbs Bank raised shares of Broadcom to a “moderate buy” rating in a research report on Thursday, June 18th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $493.24.

Broadcom Trading Down 0.3%

AVGO traded down $1.14 on Friday, reaching $399.97. 14,579,242 shares of the company’s stock were exchanged, compared to its average volume of 26,802,910. Broadcom Inc. has a twelve month low of $269.58 and a twelve month high of $495.00. The company’s 50 day moving average is $405.29 and its 200-day moving average is $364.13. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.01 and a current ratio of 2.24. The company has a market cap of $1.90 trillion, a price-to-earnings ratio of 66.66, a PEG ratio of 0.70 and a beta of 1.45.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share for the quarter, beating analysts’ consensus estimates of $2.40 by $0.04. Broadcom had a net margin of 38.85% and a return on equity of 41.61%. The firm had revenue of $22.19 billion for the quarter, compared to analysts’ expectations of $22.13 billion. During the same period in the previous year, the company posted $1.58 earnings per share. Broadcom’s revenue was up 47.9% compared to the same quarter last year. Equities analysts predict that Broadcom Inc. will post 10.24 earnings per share for the current year.

Broadcom Dividend Announcement

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

Insider Buying and Selling at Broadcom

In other Broadcom news, Director Harry L. You purchased 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The stock was purchased at an average cost of $373.57 per share, with a total value of $373,570.00. Following the transaction, the director owned 38,466 shares in the company, valued at approximately $14,369,743.62. This trade represents a 2.67% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Gayla J. Delly sold 1,890 shares of the stock in a transaction on Wednesday, July 8th. The shares were sold at an average price of $385.38, for a total value of $728,368.20. Following the completion of the sale, the director owned 31,326 shares of the company’s stock, valued at approximately $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. Over the last 90 days, insiders have sold 36,644 shares of company stock worth $13,982,964. Insiders own 1.90% of the company’s stock.

Trending Headlines about 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

Broadcom Profile

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.