Rep. Jefferson Shreve Sells Off Shares of Broadcom Inc. (NASDAQ:AVGO)

Representative Jefferson Shreve (R-Indiana) recently sold shares of Broadcom Inc. (NASDAQ:AVGO). In a filing disclosed on May 08th, the Representative disclosed that they had sold between $100,001 and $250,000 in Broadcom stock on April 17th. The trade occurred in the Representative’s “CRT – STANDARD UNIT TRUST” account.

Representative Jefferson Shreve also recently made the following trade(s):

• Purchased $50,001 – $100,000 in shares of Chipotle Mexican Grill (NYSE:CMG) on 4/17/2025.
• Purchased $50,001 – $100,000 in shares of Applied Materials (NASDAQ:AMAT) on 4/17/2025.
• Purchased $15,001 – $50,000 in shares of Caterpillar (NYSE:CAT) on 4/17/2025.
• Sold $15,001 – $50,000 in shares of Lululemon Athletica (NASDAQ:LULU) on 4/17/2025.
• Purchased $15,001 – $50,000 in shares of Western Digital (NASDAQ:WDC) on 4/17/2025.
• Sold $15,001 – $50,000 in shares of Zoetis (NYSE:ZTS) on 4/17/2025.
• Purchased $15,001 – $50,000 in shares of Stryker (NYSE:SYK) on 4/17/2025.
• Purchased $15,001 – $50,000 in shares of NextEra Energy (NYSE:NEE) on 4/17/2025.
• Purchased $15,001 – $50,000 in shares of CSX (NASDAQ:CSX) on 4/17/2025.
• Purchased $15,001 – $50,000 in shares of Ross Stores (NASDAQ:ROST) on 4/17/2025.

Broadcom Stock Up 0.2 %

AVGO opened at $208.26 on Friday. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98. The business’s fifty day simple moving average is $182.95 and its 200 day simple moving average is $197.50. Broadcom Inc. has a 52 week low of $128.50 and a 52 week high of $251.88. The stock has a market cap of $979.23 billion, a PE ratio of 169.87, a P/E/G ratio of 2.29 and a beta of 1.04.

Broadcom Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Thursday, March 20th were given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 1.13%. The ex-dividend date of this dividend was Thursday, March 20th. Broadcom’s dividend payout ratio (DPR) is currently 113.46%.

Broadcom declared that its Board of Directors has initiated a stock repurchase program on Monday, April 7th that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the semiconductor manufacturer to purchase up to 1.4% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In other news, insider Mark David Brazeal sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, April 11th. The shares were sold at an average price of $180.00, for a total transaction of $4,500,000.00. Following the completion of the transaction, the insider now directly owns 465,956 shares of the company’s stock, valued at $83,872,080. The trade was a 5.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Henry Samueli sold 663,976 shares of Broadcom stock in a transaction that occurred on Wednesday, March 26th. The stock was sold at an average price of $181.60, for a total transaction of $120,578,041.60. Following the completion of the sale, the director now directly owns 38,798,721 shares of the company’s stock, valued at approximately $7,045,847,733.60. This trade represents a 1.68 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 719,776 shares of company stock worth $131,065,542 in the last three months. Insiders own 2.00% of the company’s stock.

Institutional Trading of Broadcom

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of Broadcom by 0.4% in the first quarter. Vanguard Group Inc. now owns 477,220,137 shares of the semiconductor manufacturer’s stock worth $79,900,968,000 after acquiring an additional 2,085,534 shares during the last quarter. Geode Capital Management LLC increased its stake in Broadcom by 3.0% during the 4th quarter. Geode Capital Management LLC now owns 102,207,120 shares of the semiconductor manufacturer’s stock valued at $23,647,209,000 after purchasing an additional 3,018,294 shares in the last quarter. FMR LLC raised its holdings in Broadcom by 3.2% in the fourth quarter. FMR LLC now owns 93,274,317 shares of the semiconductor manufacturer’s stock worth $21,624,718,000 after buying an additional 2,873,809 shares during the last quarter. Norges Bank bought a new position in shares of Broadcom in the fourth quarter worth approximately $16,893,010,000. Finally, Northern Trust Corp grew its holdings in shares of Broadcom by 12.0% during the fourth quarter. Northern Trust Corp now owns 49,087,351 shares of the semiconductor manufacturer’s stock valued at $11,380,411,000 after buying an additional 5,258,925 shares during the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on AVGO. Morgan Stanley upped their target price on Broadcom from $246.00 to $260.00 and gave the stock an “overweight” rating in a research note on Friday, March 7th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $300.00 target price on shares of Broadcom in a report on Friday, March 7th. KeyCorp boosted their price target on shares of Broadcom from $260.00 to $275.00 and gave the stock an “overweight” rating in a research note on Friday, March 7th. William Blair reaffirmed an “outperform” rating on shares of Broadcom in a research note on Friday, March 7th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $250.00 target price on shares of Broadcom in a research note on Friday, March 7th. Three research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Broadcom has a consensus rating of “Moderate Buy” and an average target price of $229.48.

About Representative Shreve

Jefferson Shreve (Republican Party) is a member of the U.S. House, representing Indiana’s 6th Congressional District. He assumed office on January 3, 2025. His current term ends on January 3, 2027.

Shreve (Republican Party) is running for re-election to the U.S. House to represent Indiana’s 6th Congressional District. He declared candidacy for the 2026 election.

Email [email protected] to notify us of updates to this biography.
Jefferson Shreve earned a bachelor’s degree from Indiana University in 1989, a graduate degree from the University of London in 1998, and a graduate degree from Purdue University in 2003. Shreve’s career experience includes working as a real estate executive.

Shreve was elected 7th District Vice Chairman of the Indiana Republican State Committee on January 17, 2018, and was re-elected on March 6, 2021. In 2020, he was selected as a district-level delegate to the 2020 Republican National Convention.

About Broadcom

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.