Otter Creek Advisors LLC Reduces Holdings in Broadcom Inc. $AVGO

Otter Creek Advisors LLC trimmed its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 60.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 9,505 shares of the semiconductor manufacturer’s stock after selling 14,600 shares during the quarter. Otter Creek Advisors LLC’s holdings in Broadcom were worth $2,620,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the company. Albert D Mason Inc. increased its position in shares of Broadcom by 3.8% during the second quarter. Albert D Mason Inc. now owns 2,253 shares of the semiconductor manufacturer’s stock worth $621,000 after purchasing an additional 83 shares in the last quarter. Quotient Wealth Partners LLC increased its position in shares of Broadcom by 9.8% during the second quarter. Quotient Wealth Partners LLC now owns 18,391 shares of the semiconductor manufacturer’s stock worth $5,069,000 after purchasing an additional 1,647 shares in the last quarter. Aspiriant LLC increased its position in shares of Broadcom by 7.1% during the second quarter. Aspiriant LLC now owns 11,080 shares of the semiconductor manufacturer’s stock worth $3,054,000 after purchasing an additional 735 shares in the last quarter. Manchester Financial Inc. increased its position in shares of Broadcom by 39.3% during the second quarter. Manchester Financial Inc. now owns 6,680 shares of the semiconductor manufacturer’s stock worth $1,841,000 after purchasing an additional 1,883 shares in the last quarter. Finally, Hamlin Capital Management LLC increased its position in shares of Broadcom by 0.9% during the second quarter. Hamlin Capital Management LLC now owns 1,016,067 shares of the semiconductor manufacturer’s stock worth $280,079,000 after purchasing an additional 9,432 shares in the last quarter. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Broadcom Stock Performance

NASDAQ AVGO opened at $354.13 on Friday. The stock has a market cap of $1.67 trillion, a PE ratio of 90.34, a P/E/G ratio of 1.94 and a beta of 1.20. The company has a current ratio of 1.50, a quick ratio of 1.37 and a debt-to-equity ratio of 0.86. Broadcom Inc. has a twelve month low of $138.10 and a twelve month high of $374.23. The stock has a fifty day simple moving average of $331.47 and a 200-day simple moving average of $275.11.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share for the quarter, topping analysts’ consensus estimates of $1.66 by $0.03. The business had revenue of $15.95 billion during the quarter, compared to analysts’ expectations of $15.82 billion. Broadcom had a return on equity of 36.60% and a net margin of 31.59%.The company’s revenue was up 22.0% compared to the same quarter last year. During the same period in the prior year, the business posted $1.24 EPS. Broadcom has set its Q4 2025 guidance at EPS. Equities analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Announces Dividend

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

Analysts Set New Price Targets

Several analysts recently commented on AVGO shares. Macquarie assumed coverage on Broadcom in a research report on Monday, September 15th. They set an “outperform” rating and a $420.00 price target for the company. Sanford C. Bernstein upped their target price on Broadcom from $295.00 to $400.00 and gave the company an “outperform” rating in a report on Friday, September 5th. Evercore ISI upped their target price on Broadcom from $342.00 to $403.00 and gave the company an “outperform” rating in a report on Wednesday, October 15th. KeyCorp set a $460.00 target price on Broadcom in a report on Monday, October 13th. Finally, Rosenblatt Securities upped their target price on Broadcom from $340.00 to $400.00 and gave the company a “buy” rating in a report on Friday, September 5th. Three analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, Broadcom currently has a consensus rating of “Buy” and a consensus price target of $372.52.

Insider Buying and Selling at Broadcom

In other news, CEO Hock E. Tan sold 148,154 shares of the stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $336.67, for a total transaction of $49,879,007.18. Following the completion of the transaction, the chief executive officer directly owned 825,998 shares in the company, valued at approximately $278,088,746.66. This represents a 15.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Charlie B. Kawwas sold 3,893 shares of the stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $347.82, for a total value of $1,354,063.26. Following the transaction, the insider directly owned 25,295 shares in the company, valued at approximately $8,798,106.90. The trade was a 13.34% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders bought 3,550 shares of company stock worth $1,227,869 and sold 665,271 shares worth $225,464,248. 2.00% of the stock is 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.