Nemes Rush Group LLC Sells 5,924 Shares of Broadcom Inc. $AVGO

Nemes Rush Group LLC reduced its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 3.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 162,136 shares of the semiconductor manufacturer’s stock after selling 5,924 shares during the period. Broadcom makes up approximately 5.3% of Nemes Rush Group LLC’s holdings, making the stock its biggest holding. Nemes Rush Group LLC’s holdings in Broadcom were worth $56,115,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Baring Financial LLC raised its holdings in Broadcom by 2.2% during the 4th quarter. Baring Financial LLC now owns 1,359 shares of the semiconductor manufacturer’s stock worth $470,000 after buying an additional 29 shares during the period. Five Oceans Advisors raised its holdings in Broadcom by 0.4% during the 4th quarter. Five Oceans Advisors now owns 8,191 shares of the semiconductor manufacturer’s stock worth $2,835,000 after buying an additional 29 shares during the period. Planning Alternatives Ltd. ADV raised its holdings in shares of Broadcom by 1.4% in the third quarter. Planning Alternatives Ltd. ADV now owns 2,168 shares of the semiconductor manufacturer’s stock valued at $715,000 after purchasing an additional 30 shares during the last quarter. Bell Investment Advisors Inc raised its holdings in shares of Broadcom by 1.9% in the third quarter. Bell Investment Advisors Inc now owns 1,638 shares of the semiconductor manufacturer’s stock valued at $540,000 after purchasing an additional 30 shares during the last quarter. Finally, Black Diamond Financial LLC raised its holdings in shares of Broadcom by 3.2% in the third quarter. Black Diamond Financial LLC now owns 1,008 shares of the semiconductor manufacturer’s stock valued at $333,000 after purchasing an additional 31 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Broadcom Price Performance

Shares of AVGO opened at $392.16 on Wednesday. The company has a market cap of $1.86 trillion, a price-to-earnings ratio of 65.36, a PEG ratio of 0.72 and a beta of 1.41. Broadcom Inc. has a 1-year low of $241.40 and a 1-year high of $495.00. The company’s fifty day simple moving average is $399.79 and its 200 day simple moving average is $362.70. 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 (NASDAQ:AVGO) last issued its earnings results 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. The business had revenue of $22.19 billion for the quarter, compared to the consensus estimate of $22.13 billion. Broadcom had a net margin of 38.85% and a return on equity of 41.61%. The firm’s revenue for the quarter was up 47.9% on a year-over-year basis. During the same period in the previous year, the company earned $1.58 earnings per share. On average, research analysts forecast that Broadcom Inc. will post 9.96 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 22nd will be issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Monday, June 22nd. Broadcom’s payout ratio is presently 43.33%.

Key Stories Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Apollo Global Management and Blackstone are backing a $35 billion AI infrastructure platform tied to Broadcom’s custom chips and networking gear, with Anthropic’s capacity expansion as the initial use case. This reinforces Broadcom’s role in the AI buildout and could support long-term revenue growth. Article Title
• Positive Sentiment: Broadcom also announced a new AI infrastructure partnership with Apollo and Blackstone, adding another sign that its semiconductor and networking solutions remain central to enterprise AI expansion. Article Title
• Positive Sentiment: JPMorgan reportedly raised its outlook on Broadcom after the latest earnings report, signaling that major analysts still see value in the stock despite the recent pullback. Article Title
• Positive Sentiment: More than 40 analysts remain bullish on Broadcom, and several recent articles highlight upgraded ratings and higher price targets, which can help stabilize investor sentiment. Article Title

Insider Activity

In related news, insider S. Ram Velaga sold 38,841 shares of the business’s stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $321.60, for a total transaction of $12,491,265.60. Following the transaction, the insider directly owned 96,147 shares in the company, valued at approximately $30,920,875.20. The trade was a 28.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Mark David Brazeal sold 50,488 shares of Broadcom stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $321.60, for a total transaction of $16,236,940.80. Following the transaction, the insider directly owned 278,141 shares of the company’s stock, valued at approximately $89,450,145.60. This trade represents a 15.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 324,282 shares of company stock valued at $106,425,249 in the last ninety days. Corporate insiders own 1.90% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Morgan Stanley set a $502.00 price objective on shares of Broadcom and gave the company an “overweight” rating in a report on Thursday, June 4th. The Goldman Sachs Group reiterated a “buy” rating and issued a $525.00 price objective on shares of Broadcom in a report on Thursday, June 4th. Rosenblatt Securities reiterated a “buy” rating and issued a $500.00 price objective on shares of Broadcom in a report on Thursday, June 4th. Wells Fargo & Company reiterated an “overweight” rating and issued a $545.00 price objective (up from $430.00) on shares of Broadcom in a report on Thursday, May 14th. Finally, Royal Bank Of Canada lifted their price objective on shares of Broadcom from $360.00 to $400.00 and gave the company a “sector perform” rating in a report on Thursday, June 4th. One investment analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Broadcom currently has an average rating of “Moderate Buy” and a consensus price target of $490.13.

Broadcom Profile

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.