Oxbow Advisors LLC Sells 1,733 Shares of Broadcom Inc. $AVGO

Oxbow Advisors LLC reduced its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 20.8% in the first quarter, HoldingsChannel reports. The institutional investor owned 6,610 shares of the semiconductor manufacturer’s stock after selling 1,733 shares during the period. Oxbow Advisors LLC’s holdings in Broadcom were worth $2,046,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Brown Brothers Harriman & Co. grew its holdings in Broadcom by 10.7% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 77,411 shares of the semiconductor manufacturer’s stock valued at $25,539,000 after buying an additional 7,499 shares in the last quarter. Sovran Advisors LLC raised its holdings in shares of Broadcom by 121.3% during the 4th quarter. Sovran Advisors LLC now owns 30,631 shares of the semiconductor manufacturer’s stock worth $10,507,000 after acquiring an additional 16,789 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its position in shares of Broadcom by 406.1% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 11,994 shares of the semiconductor manufacturer’s stock valued at $4,151,000 after acquiring an additional 9,624 shares during the last quarter. Aspiriant LLC boosted its position in shares of Broadcom by 18.5% during the 4th quarter. Aspiriant LLC now owns 12,016 shares of the semiconductor manufacturer’s stock valued at $4,158,000 after acquiring an additional 1,872 shares during the last quarter. Finally, World Investment Advisors grew its holdings in shares of Broadcom by 16.1% in the fourth quarter. World Investment Advisors now owns 177,710 shares of the semiconductor manufacturer’s stock valued at $61,505,000 after purchasing an additional 24,703 shares in the last quarter. Institutional investors own 76.43% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Citigroup reiterated a “buy” rating on shares of Broadcom in a research report on Thursday, June 4th. Rosenblatt Securities restated a “buy” rating and set a $500.00 target price on shares of Broadcom in a research report on Thursday, June 4th. Weiss Ratings lowered Broadcom from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, June 26th. Dbs Bank raised Broadcom to a “moderate buy” rating in a research note on Thursday, June 18th. Finally, Benchmark raised their price objective on Broadcom from $485.00 to $545.00 and gave the company a “buy” rating in a research note on Thursday, June 4th. One research analyst has rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $493.24.

Broadcom Price Performance

Broadcom stock opened at $370.78 on Wednesday. Broadcom Inc. has a 12-month low of $269.58 and a 12-month high of $495.00. The company has a current ratio of 2.24, a quick ratio of 2.01 and a debt-to-equity ratio of 0.71. The firm has a 50-day moving average price of $405.96 and a 200-day moving average price of $363.03. The firm has a market capitalization of $1.76 trillion, a PE ratio of 61.80, a price-to-earnings-growth ratio of 0.66 and a beta of 1.45.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share for the quarter, topping 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 company had revenue of $22.19 billion for the quarter, compared to analyst estimates of $22.13 billion. During the same period in the prior year, the company posted $1.58 EPS. The firm’s revenue for the quarter was up 47.9% on a year-over-year basis. As a group, equities research analysts forecast that Broadcom Inc. will post 10.24 EPS for the current year.

Broadcom Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 22nd were paid 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 dividend payout ratio (DPR) is currently 43.33%.

Insider Transactions at Broadcom

In other Broadcom news, insider Mark David Brazeal sold 4,825 shares of the firm’s stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $394.91, for a total transaction of $1,905,440.75. Following the transaction, the insider owned 269,989 shares of the company’s stock, valued at approximately $106,621,355.99. This trade represents a 1.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Gayla J. Delly sold 1,000 shares of Broadcom stock in a transaction that occurred on Thursday, April 9th. The shares were sold at an average price of $358.31, for a total transaction of $358,310.00. Following the transaction, the director directly owned 32,352 shares in the company, valued at approximately $11,592,045.12. The trade was a 3.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 36,014 shares of company stock valued at $13,174,907 over the last three months. 1.90% of the stock is currently owned by corporate insiders.

More Broadcom News

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom extended its chip and wireless component partnership with Apple through 2031, including custom ASIC silicon for Apple’s AI server chips. Investors view the deal as a major win because it locks in a durable revenue stream and improves visibility into Broadcom’s future cash flow. Apple and Broadcom Forge a Decade-Long Silicon Fortress
• Positive Sentiment: Several analysts and commentators reiterated a bullish view on Broadcom, arguing the Apple extension strengthens its “AI infrastructure” story and makes the stock look more attractive after the recent pullback. Bull v. Bear: AVGO New Value as Sell-Off Steepens
• Neutral Sentiment: Broadcom also benefited from a broader rebound in chip names, with investors reacting to renewed enthusiasm for AI and semiconductor spending, even as some of that move looked tied to sector rotation rather than company-specific news. Allegro MicroSystems and Penguin Solutions Shares Skyrocket, What You Need To Know
• Neutral Sentiment: A recent hold rating reaffirmation from Erste Group Bank did not materially change the story, but it may temper near-term upside if investors were expecting a fresh bullish catalyst. Benzinga report on Erste Group Bank reaffirmation
• Negative Sentiment: Broader semiconductor weakness and a global tech sell-off, tied in part to a margin/liquidity shock in Asia, have weighed on AVGO and other chip stocks despite no clear deterioration in fundamentals. The AI Chip Sell-Off Looks Scary, But the Real Story May Be Liquidity
• Negative Sentiment: AVGO remains well below its recent highs and is being described as in a bear market, reflecting ongoing valuation pressure and investor caution after the sector pullback. Bull v. Bear: AVGO New Value as Sell-Off Steepens

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.