Guinness Asset Management LTD Sells 25,519 Shares of Broadcom Inc. $AVGO

Guinness Asset Management LTD lessened its position in Broadcom Inc. (NASDAQ:AVGO) by 2.2% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,114,242 shares of the semiconductor manufacturer’s stock after selling 25,519 shares during the period. Broadcom accounts for 3.6% of Guinness Asset Management LTD’s investment portfolio, making the stock its 16th biggest position. Guinness Asset Management LTD’s holdings in Broadcom were worth $186,620,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Sunbeam Capital Management LLC bought a new stake in Broadcom in the 4th quarter worth $28,000. Vermillion Wealth Management Inc. bought a new stake in Broadcom in the 4th quarter worth $30,000. Barnes Dennig Private Wealth Management LLC bought a new stake in Broadcom in the 1st quarter worth $25,000. Cheviot Value Management LLC bought a new stake in Broadcom in the 1st quarter worth $25,000. Finally, Inlight Wealth Management LLC bought a new stake in Broadcom in the 1st quarter worth $26,000. Institutional investors own 76.43% of the company’s stock.

Insider Activity at Broadcom

In related news, Director Henry Samueli sold 473,898 shares of Broadcom stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $265.33, for a total transaction of $125,739,356.34. Following the completion of the transaction, the director directly owned 38,188,575 shares of the company’s stock, valued at $10,132,574,604.75. This trade represents a 1.23% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Mark David Brazeal sold 50,000 shares of Broadcom stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $253.28, for a total transaction of $12,664,000.00. Following the transaction, the insider directly owned 415,956 shares of the company’s stock, valued at approximately $105,353,335.68. This trade represents a 10.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders bought 3,550 shares of company stock worth $1,227,869 and sold 702,758 shares worth $184,975,481. Insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on AVGO. JPMorgan Chase & Co. raised their price target on shares of Broadcom from $325.00 to $400.00 and gave the stock an “overweight” rating in a report on Friday, September 5th. Barclays raised their price target on shares of Broadcom from $265.00 to $400.00 and gave the stock an “overweight” rating in a report on Friday, September 5th. HSBC raised shares of Broadcom from a “hold” rating to a “buy” rating and set a $400.00 target price on the stock in a research note on Tuesday, June 24th. Erste Group Bank raised shares of Broadcom from a “hold” rating to a “buy” rating in a research note on Thursday, June 5th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $300.00 target price on shares of Broadcom in a research note on Friday, June 6th. Three research analysts have rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, Broadcom currently has a consensus rating of “Buy” and an average price target of $351.92.

Broadcom Trading Down 2.7%

Shares of NASDAQ AVGO opened at $359.63 on Friday. Broadcom Inc. has a 1 year low of $138.10 and a 1 year high of $374.23. The stock has a market cap of $1.69 trillion, a P/E ratio of 91.74, a price-to-earnings-growth ratio of 2.04 and a beta of 1.16. The firm has a 50-day moving average of $298.61 and a 200 day moving average of $240.90. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.50 and a quick ratio of 1.37.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.66 by $0.03. Broadcom had a net margin of 31.59% and a return on equity of 36.60%. The company had revenue of $15.95 billion during the quarter, compared to analysts’ expectations of $15.82 billion. During the same period last year, the company posted $1.24 EPS. Broadcom’s revenue was up 22.0% on a year-over-year basis. Broadcom has set its Q4 2025 guidance at EPS. As a group, sell-side analysts expect that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Dividend Announcement

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

Broadcom 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.