BXM Wealth LLC Trims Stock Holdings in Broadcom Inc. $AVGO

BXM Wealth LLC cut its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 89.7% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 14,877 shares of the semiconductor manufacturer’s stock after selling 129,412 shares during the quarter. Broadcom makes up about 3.5% of BXM Wealth LLC’s portfolio, making the stock its 3rd largest holding. BXM Wealth LLC’s holdings in Broadcom were worth $4,604,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. ROSS JOHNSON & Associates LLC raised its position in shares of Broadcom by 1,320.0% in the 4th quarter. ROSS JOHNSON & Associates LLC now owns 71 shares of the semiconductor manufacturer’s stock worth $25,000 after acquiring an additional 66 shares in the last quarter. SWAN Capital LLC boosted its position in shares of Broadcom by 261.9% during the 4th quarter. SWAN Capital LLC now owns 76 shares of the semiconductor manufacturer’s stock valued at $26,000 after purchasing an additional 55 shares in the last quarter. Networth Advisors LLC boosted its position in shares of Broadcom by 546.2% during the 1st quarter. Networth Advisors LLC now owns 84 shares of the semiconductor manufacturer’s stock valued at $26,000 after purchasing an additional 71 shares in the last quarter. Miller Global Investments LLC acquired a new stake in Broadcom during the fourth quarter worth approximately $31,000. Finally, Nvest Wealth Strategies Inc. bought a new stake in Broadcom in the fourth quarter worth approximately $33,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insider Transactions at Broadcom

In other Broadcom news, Director Harry L. You bought 1,000 shares of the stock in a transaction that occurred on Thursday, June 11th. The shares were bought at an average price of $373.57 per share, for a total transaction of $373,570.00. Following the acquisition, the director directly owned 38,466 shares of the company’s stock, valued at approximately $14,369,743.62. The trade was a 2.67% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider S. Ram Velaga sold 17,260 shares of the firm’s stock in a transaction dated Thursday, April 9th. The shares were sold at an average price of $352.12, for a total transaction of $6,077,591.20. Following the completion of the transaction, the insider directly owned 65,932 shares in the company, valued at approximately $23,215,975.84. The trade was a 20.75% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 60,987 shares of company stock valued at $21,899,980. Corporate insiders own 1.90% of the company’s stock.

Broadcom Trading Down 2.4%

NASDAQ AVGO opened at $360.45 on Friday. The company has a market cap of $1.71 trillion, a price-to-earnings ratio of 60.08, a P/E/G ratio of 0.65 and a beta of 1.45. Broadcom Inc. has a 52 week low of $269.58 and a 52 week high of $495.00. The business has a 50 day moving average price of $409.17 and a 200-day moving average price of $362.34. The company has a quick ratio of 2.01, a current ratio of 2.24 and a debt-to-equity ratio of 0.71.

Broadcom (NASDAQ:AVGO) last issued its earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.40 by $0.04. Broadcom had a return on equity of 41.61% and a net margin of 38.85%.The company had revenue of $22.19 billion for the quarter, compared to analysts’ expectations of $22.13 billion. During the same period last year, the business earned $1.58 EPS. Broadcom’s quarterly revenue was up 47.9% compared to the same quarter last year. As a group, equities analysts expect that Broadcom Inc. will post 10.24 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

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

More Broadcom News

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Wall Street remains upbeat on Broadcom’s AI growth story, with UBS reaffirming a Buy rating and $485 target on strong AI ASIC demand tied to customers like OpenAI and Anthropic. UBS Reaffirms Buy Rating on Broadcom (AVGO) Amid AI ASIC Demand and OpenAI, Anthropic Growth
• Positive Sentiment: Several recent pieces point to Broadcom’s expanding role in custom AI silicon and its OpenAI-related accelerator work, reinforcing the long-term revenue opportunity from AI infrastructure spending.
• Positive Sentiment: Analysts continue to view recent weakness as a buying opportunity, with multiple firms maintaining bullish targets well above the current share price.
• Neutral Sentiment: Commentary this week also highlighted Broadcom as a major beneficiary of the broader semiconductor and AI trade, but much of that optimism simply reiterates an already well-known investment thesis.
• Negative Sentiment: Director Justine Page sold 1,602 shares at $373.86, adding to recent insider-selling headlines that can make investors cautious. SEC Form 4 filing for Justine Page sale
• Negative Sentiment: Broadcom’s post-earnings pullback has continued to draw attention, as investors worry the company’s strong results and guidance still weren’t enough to satisfy very high expectations.

Analysts Set New Price Targets

Several brokerages have issued reports on AVGO. Benchmark boosted their price target on Broadcom from $485.00 to $545.00 and gave the company a “buy” rating in a research note on Thursday, June 4th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $515.00 price objective (up from $430.00) on shares of Broadcom in a research report on Thursday, June 4th. Mizuho boosted their target price on shares of Broadcom from $480.00 to $530.00 and gave the company an “outperform” rating in a research report on Thursday, June 4th. Royal Bank Of Canada increased their target price on shares of Broadcom from $360.00 to $400.00 and gave the stock a “sector perform” rating in a research note on Thursday, June 4th. Finally, Weiss Ratings cut shares of Broadcom from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday, June 26th. One investment analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Broadcom currently has an average rating of “Moderate Buy” and an average price target of $493.24.

Broadcom Company 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.