Childress Capital Advisors LLC Cuts Holdings in Broadcom Inc. $AVGO

Childress Capital Advisors LLC decreased its position in Broadcom Inc. (NASDAQ:AVGO) by 9.0% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 18,106 shares of the semiconductor manufacturer’s stock after selling 1,801 shares during the period. Broadcom accounts for 1.0% of Childress Capital Advisors LLC’s holdings, making the stock its 23rd biggest position. Childress Capital Advisors LLC’s holdings in Broadcom were worth $5,604,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Fullerton Advisors LLC lifted its holdings in Broadcom by 1.3% during the first quarter. Fullerton Advisors LLC now owns 1,989 shares of the semiconductor manufacturer’s stock worth $616,000 after acquiring an additional 25 shares during the period. NORTHSTAR ASSET MANAGEMENT Co grew its stake in Broadcom by 0.5% in the 1st quarter. NORTHSTAR ASSET MANAGEMENT Co now owns 5,350 shares of the semiconductor manufacturer’s stock valued at $1,656,000 after purchasing an additional 25 shares during the period. RFG Holdings Inc. increased its position in shares of Broadcom by 0.3% during the 1st quarter. RFG Holdings Inc. now owns 8,499 shares of the semiconductor manufacturer’s stock valued at $2,631,000 after purchasing an additional 26 shares during the last quarter. Baring Financial LLC increased its position in shares of Broadcom by 2.2% during the 4th quarter. Baring Financial LLC now owns 1,359 shares of the semiconductor manufacturer’s stock valued at $470,000 after purchasing an additional 29 shares during the last quarter. Finally, Five Oceans Advisors raised its stake in shares of Broadcom by 0.4% during the 4th quarter. Five Oceans Advisors now owns 8,191 shares of the semiconductor manufacturer’s stock worth $2,835,000 after purchasing an additional 29 shares during the period. Institutional investors own 76.43% of the company’s stock.

Broadcom Stock Performance

AVGO 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 company’s fifty day simple moving average is $405.29 and its 200 day simple moving average is $364.13. The stock has a market cap of $1.90 trillion, a PE ratio of 66.66, a price-to-earnings-growth ratio of 0.70 and a beta of 1.45. 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 posted its earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $22.13 billion. During the same quarter last year, the company earned $1.58 earnings per share. The company’s revenue was up 47.9% on a year-over-year basis. Equities analysts anticipate that Broadcom Inc. will post 10.24 earnings per share for the current year.

Broadcom Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on AVGO shares. Truist Financial boosted their price target on shares of Broadcom from $545.00 to $550.00 and gave the stock a “buy” rating in a report on Thursday, June 4th. JPMorgan Chase & Co. lifted their price objective 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. TD Cowen reiterated a “buy” rating and issued a $500.00 target price on shares of Broadcom in a research note on Thursday, June 4th. Erste Group Bank reissued a “hold” rating on shares of Broadcom in a research report on Tuesday, July 7th. Finally, Zacks Research lowered shares of Broadcom from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 21st. One 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 stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $493.24.

Insider Buying and Selling at Broadcom

In other news, Director Gayla J. Delly sold 1,890 shares of the firm’s stock in a transaction 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 completion of the transaction, the director directly owned 31,326 shares of the company’s stock, valued at $12,072,413.88. This trade represents a 5.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mark David Brazeal sold 25,000 shares of Broadcom stock in a transaction on Wednesday, July 8th. The shares were sold at an average price of $379.19, for a total value of $9,479,750.00. Following the completion of the transaction, the insider owned 219,989 shares of the company’s stock, valued at approximately $83,417,628.91. This trade represents a 10.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 36,644 shares of company stock valued at $13,982,964 over the last 90 days. 1.90% of the stock is currently owned by corporate insiders.

Key Stories 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

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.