Adage Capital Partners GP L.L.C. Sells 178,300 Shares of Broadcom Inc. $AVGO

Adage Capital Partners GP L.L.C. lowered its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 4.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,071,060 shares of the semiconductor manufacturer’s stock after selling 178,300 shares during the quarter. Broadcom comprises 1.3% of Adage Capital Partners GP L.L.C.’s investment portfolio, making the stock its 9th biggest holding. Adage Capital Partners GP L.L.C. owned about 0.09% of Broadcom worth $681,618,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Sunbeam Capital Management LLC bought a new stake in Broadcom in the fourth quarter worth approximately $28,000. Vermillion Wealth Management Inc. acquired a new stake in shares of Broadcom during the 4th quarter worth approximately $30,000. Barnes Dennig Private Wealth Management LLC bought a new stake in shares of Broadcom in the 1st quarter valued at $25,000. Cheviot Value Management LLC bought a new stake in shares of Broadcom in the 1st quarter valued at $25,000. Finally, Inlight Wealth Management LLC acquired a new position in shares of Broadcom during the 1st quarter valued at $26,000. 76.43% of the stock is owned by institutional investors.

Broadcom Stock Performance

Shares of Broadcom stock opened at $297.39 on Tuesday. Broadcom Inc. has a 52 week low of $134.90 and a 52 week high of $317.35. The company has a quick ratio of 0.98, a current ratio of 1.08 and a debt-to-equity ratio of 0.89. The business has a 50 day moving average price of $288.61 and a 200-day moving average price of $235.11. The company has a market cap of $1.40 trillion, a PE ratio of 111.38, a price-to-earnings-growth ratio of 2.11 and a beta of 1.16.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.57 by $0.01. The business had revenue of $15 billion during the quarter, compared to the consensus estimate of $14.98 billion. Broadcom had a return on equity of 35.49% and a net margin of 22.64%.Broadcom’s revenue was up 20.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $10.96 earnings per share. Broadcom has set its Q3 2025 guidance at EPS. Equities analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 20th were issued a $0.59 dividend. The ex-dividend date was Friday, June 20th. This represents a $2.36 annualized dividend and a dividend yield of 0.8%. Broadcom’s dividend payout ratio is currently 88.39%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Citigroup raised their price target on shares of Broadcom from $285.00 to $315.00 and gave the stock a “buy” rating in a report on Monday, July 7th. HSBC upgraded Broadcom from a “hold” rating to a “buy” rating and set a $400.00 target price for the company in a research note on Tuesday, June 24th. Mizuho boosted their target price on Broadcom from $315.00 to $320.00 and gave the company an “outperform” rating in a research report on Wednesday, July 16th. Redburn Atlantic initiated coverage on Broadcom in a report on Wednesday, May 28th. They issued a “buy” rating and a $301.00 price target on the stock. Finally, Evercore ISI reissued an “outperform” rating and issued a $304.00 price objective (up previously from $267.00) on shares of Broadcom in a research note on Friday, June 6th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $301.79.

Insider Buying and Selling

In related news, CEO Hock E. Tan sold 40,000 shares of the business’s stock in a transaction dated Thursday, June 26th. The shares were sold at an average price of $268.29, for a total transaction of $10,731,600.00. Following the transaction, the chief executive officer directly owned 482,836 shares in the company, valued at approximately $129,540,070.44. The trade was a 7.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gayla J. Delly sold 3,000 shares of the company’s stock in a transaction dated Thursday, June 26th. The stock was sold at an average price of $265.13, for a total transaction of $795,390.00. Following the completion of the sale, the director directly owned 33,352 shares of the company’s stock, valued at $8,842,615.76. The trade was a 8.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 830,516 shares of company stock valued at $217,286,457 over the last 90 days. 2.00% of the stock is currently owned by company insiders.

Broadcom Company 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.