Ridgecrest Wealth Partners LLC Decreases Position in Broadcom Inc. $AVGO

Ridgecrest Wealth Partners LLC lessened its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 86.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,793 shares of the semiconductor manufacturer’s stock after selling 24,609 shares during the period. Ridgecrest Wealth Partners LLC’s holdings in Broadcom were worth $1,046,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Broadcom by 0.4% during the first quarter. Vanguard Group Inc. now owns 477,220,137 shares of the semiconductor manufacturer’s stock valued at $79,900,968,000 after acquiring an additional 2,085,534 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in Broadcom by 37.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 65,509,579 shares of the semiconductor manufacturer’s stock worth $10,968,270,000 after purchasing an additional 17,985,046 shares during the last quarter. Nuveen LLC acquired a new position in Broadcom during the 1st quarter valued at approximately $6,649,117,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Broadcom by 2.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 35,243,467 shares of the semiconductor manufacturer’s stock valued at $5,900,814,000 after purchasing an additional 842,088 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Broadcom by 3.2% in the first quarter. Charles Schwab Investment Management Inc. now owns 33,852,310 shares of the semiconductor manufacturer’s stock worth $5,668,134,000 after buying an additional 1,043,948 shares during the last quarter. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Broadcom Stock Down 0.9%

Shares of AVGO opened at $336.10 on Friday. The company has a market capitalization of $1.59 trillion, a price-to-earnings ratio of 85.74, a PEG ratio of 1.88 and a beta of 1.16. Broadcom Inc. has a 52 week low of $138.10 and a 52 week high of $374.23. The stock’s 50-day moving average price is $312.64 and its 200-day moving average price is $251.49. The company has a quick ratio of 1.37, a current ratio of 1.50 and a debt-to-equity ratio of 0.86.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share for the quarter, beating the consensus estimate of $1.66 by $0.03. Broadcom had a return on equity of 36.60% and a net margin of 31.59%.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 business earned $1.24 earnings per share. Broadcom’s quarterly revenue was up 22.0% on a year-over-year basis. Broadcom has set its Q4 2025 guidance at EPS. On average, sell-side analysts predict that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Dividend Announcement

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

Insider Activity at Broadcom

In other Broadcom news, Director Justine Page sold 800 shares of Broadcom stock in a transaction on Monday, September 15th. The shares were sold at an average price of $360.00, for a total value of $288,000.00. Following the completion of the transaction, the director owned 22,982 shares of the company’s stock, valued at approximately $8,273,520. The trade was a 3.36% 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, insider Mark David Brazeal sold 16,558 shares of the company’s stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $347.61, for a total transaction of $5,755,726.38. Following the completion of the transaction, the insider owned 329,302 shares of the company’s stock, valued at approximately $114,468,668.22. This trade represents a 4.79% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have acquired 3,550 shares of company stock valued at $1,227,869 and have sold 297,274 shares valued at $101,002,814. Corporate insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on AVGO. Bank of America boosted their price objective on shares of Broadcom from $300.00 to $400.00 and gave the company a “buy” rating in a report on Friday, September 5th. Argus boosted their price target on Broadcom from $285.00 to $375.00 and gave the company a “buy” rating in a research note on Monday, September 8th. Morgan Stanley raised their price objective on Broadcom from $338.00 to $357.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 2nd. Piper Sandler upped their target price on Broadcom from $315.00 to $375.00 and gave the company an “overweight” rating in a research report on Friday, September 5th. Finally, Evercore ISI reiterated an “outperform” rating and issued a $342.00 price target (up previously from $304.00) on shares of Broadcom in a report on Thursday, September 4th. Three analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $356.48.

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.