Sanctuary Advisors LLC Sells 22,495 Shares of Broadcom Inc. $AVGO

Sanctuary Advisors LLC decreased its position in Broadcom Inc. (NASDAQ:AVGO) by 3.0% in the first quarter, HoldingsChannel.com reports. The fund owned 715,328 shares of the semiconductor manufacturer’s stock after selling 22,495 shares during the period. Broadcom comprises approximately 1.2% of Sanctuary Advisors LLC’s investment portfolio, making the stock its 10th biggest holding. Sanctuary Advisors LLC’s holdings in Broadcom were worth $221,401,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AVGO. ROSS JOHNSON & Associates LLC raised its stake in shares of Broadcom by 1,320.0% in the fourth quarter. ROSS JOHNSON & Associates LLC now owns 71 shares of the semiconductor manufacturer’s stock worth $25,000 after purchasing an additional 66 shares during the last quarter. Networth Advisors LLC lifted its holdings in shares of Broadcom by 546.2% during the first quarter. Networth Advisors LLC now owns 84 shares of the semiconductor manufacturer’s stock worth $26,000 after purchasing an additional 71 shares during the period. SWAN Capital LLC boosted its position in Broadcom by 261.9% in the fourth quarter. SWAN Capital LLC now owns 76 shares of the semiconductor manufacturer’s stock valued at $26,000 after buying an additional 55 shares during the last quarter. Miller Global Investments LLC purchased a new stake in Broadcom in the fourth quarter valued at approximately $31,000. Finally, Nvest Wealth Strategies Inc. acquired a new position in Broadcom in the 4th quarter worth approximately $33,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom Trading Down 1.0%

Shares of NASDAQ:AVGO opened at $370.83 on Friday. The company has a current ratio of 2.24, a quick ratio of 2.01 and a debt-to-equity ratio of 0.71. Broadcom Inc. has a 12-month low of $273.00 and a 12-month high of $495.00. The business has a 50 day moving average of $401.29 and a two-hundred day moving average of $365.31. The company has a market capitalization of $1.76 trillion, a PE ratio of 61.81, a PEG ratio of 0.65 and a beta of 1.45.

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

Broadcom Announces Dividend

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

Insider Activity

In other Broadcom news, insider Mark David Brazeal sold 25,000 shares of Broadcom stock in a transaction on Friday, July 10th. The shares were sold at an average price of $401.33, for a total value of $10,033,250.00. Following the completion of the transaction, the insider owned 194,989 shares of the company’s stock, valued at approximately $78,254,935.37. The trade was a 11.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gayla J. Delly sold 1,890 shares of the company’s stock in a transaction dated Wednesday, July 8th. The stock was sold at an average price of $385.38, for a total transaction of $728,368.20. Following the completion of the transaction, the director owned 31,326 shares of the company’s stock, valued at approximately $12,072,413.88. This trade represents a 5.69% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 61,644 shares of company stock worth $24,016,214 over the last three months. Corporate insiders own 1.90% of the company’s stock.

Key Headlines Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Standard Chartered chose Broadcom to support a long-term modernization of its global banking infrastructure, underscoring Broadcom’s role in secure private-cloud and enterprise networking solutions. Standard Chartered Selects Broadcom to Deliver Secure, Always-On Banking Services at Global Scale
• Positive Sentiment: Wall Street commentary continues to describe Broadcom as a core AI beneficiary, and some analysts have raised price targets even after the stock pullback. As Shares Fall, Analyst Are Boosting Their Broadcom Price Targets
• Neutral Sentiment: Broadcom remains a major talking point in AI-focused market coverage, with some investors viewing it as an indicator for the broader market and semiconductor cycle. Jim Cramer Says Broadcom Will Tell You When the Market Is About to Turn
• Negative Sentiment: Broadcom is facing renewed skepticism around valuation, with one report asking whether the AI story has made the stock too expensive. Has Broadcom Become Too Expensive for Its AI Story?
• Negative Sentiment: The stock is also being hit by a broader selloff in semiconductor names as investors rotate away from AI-capex winners and worry about a slowdown in chip spending. Marvell Drops 8% as AI Capex Slowdown Fears Weigh on Chips; Broadcom, AMD, and Intel Slide
• Negative Sentiment: Broadcom is also dealing with regulatory uncertainty after reports said it faces an EU antitrust review tied to VMware licensing changes. Broadcom (AVGO) Faces EU Antitrust Review Over VMware Licensing Changes

Wall Street Analyst Weigh In

AVGO has been the subject of a number of recent research reports. Mizuho raised their price target on shares of Broadcom from $480.00 to $530.00 and gave the stock an “outperform” rating in a research report on Thursday, June 4th. Zacks Research lowered shares of Broadcom from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 21st. Jefferies Financial Group set a $550.00 price objective on shares of Broadcom and gave the stock a “buy” rating in a research note on Thursday, June 4th. Wall Street Zen cut shares of Broadcom from a “strong-buy” rating to a “buy” rating in a report on Saturday. Finally, Erste Group Bank restated a “hold” rating on shares of Broadcom in a research report on Tuesday, July 7th. One research analyst has rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $493.24.

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.