Sterling Capital Management LLC reduced its stake in shares of Broadcom Inc. (NASDAQ:AVGO – Free Report) by 18.7% in the 1st quarter, Holdings Channel.com reports. The fund owned 158,153 shares of the semiconductor manufacturer’s stock after selling 36,470 shares during the quarter. Broadcom makes up about 0.9% of Sterling Capital Management LLC’s holdings, making the stock its 23rd largest position. Sterling Capital Management LLC’s holdings in Broadcom were worth $48,950,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in Broadcom by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 482,707,302 shares of the semiconductor manufacturer’s stock worth $167,064,997,000 after purchasing an additional 3,919,715 shares in the last quarter. State Street Corp raised its stake in Broadcom by 2.7% during the fourth quarter. State Street Corp now owns 190,084,351 shares of the semiconductor manufacturer’s stock valued at $65,788,194,000 after buying an additional 5,040,801 shares in the last quarter. Geode Capital Management LLC raised its stake in Broadcom by 1.4% during the fourth quarter. Geode Capital Management LLC now owns 111,277,280 shares of the semiconductor manufacturer’s stock valued at $38,396,634,000 after buying an additional 1,548,699 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Broadcom by 3.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 85,546,083 shares of the semiconductor manufacturer’s stock worth $29,607,500,000 after buying an additional 2,491,644 shares during the last quarter. Finally, Norges Bank bought a new position in Broadcom during the 4th quarter worth approximately $24,252,196,000. Institutional investors own 76.43% of the company’s stock.
Insider Buying and Selling at Broadcom
In other Broadcom news, insider Charlie B. Kawwas sold 10,000 shares of the business’s stock in a transaction dated Wednesday, April 8th. The shares were sold at an average price of $345.23, for a total transaction of $3,452,300.00. Following the completion of the transaction, the insider directly owned 787,184 shares of the company’s stock, valued at $271,759,532.32. The trade was a 1.25% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Mark David Brazeal sold 4,825 shares of the company’s stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $394.91, for a total transaction of $1,905,440.75. Following the completion of the transaction, the insider owned 269,989 shares of the company’s stock, valued at approximately $106,621,355.99. This trade represents a 1.76% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 59,385 shares of company stock valued at $21,301,057. Corporate insiders own 1.90% of the company’s stock.
Wall Street Analysts Forecast Growth
Read Our Latest Stock Analysis on AVGO
Key Stories Impacting Broadcom
Here are the key news stories impacting Broadcom this week:
- Positive Sentiment: Jefferies reiterated its Buy rating on Broadcom and kept a $550 price target, suggesting substantial upside from current levels. Analyst updates Broadcom (AVGO) stock price target
- Positive Sentiment: Erste Group raised its earnings estimates for Broadcom, including higher FY2026 and FY2027 EPS forecasts, reinforcing the view that earnings growth remains strong. Broadcom estimate update
- Positive Sentiment: Coverage around Broadcom’s partnership with OpenAI on the Jalapeño AI accelerator continues to support the company’s AI growth story and long-term demand outlook. What Broadcom (AVGO)’s Jalapeño AI Accelerator Partnership With OpenAI Means For Shareholders
- Neutral Sentiment: Several articles highlighted Broadcom’s recent weakness and “buy the dip” debate, indicating that investor sentiment is cautious but not turning bearish on fundamentals. Broadcom’s Stock Has Slumped Over 20% From Its Highs. These Experts Say They Would Buy the Dip
- Negative Sentiment: Reports of heavy insider selling over the past two weeks may weigh on sentiment, as investors often view large insider sales as a cautionary signal. Monster insider trading alert for Broadcom (AVGO) stock
Broadcom Trading Up 1.4%
Shares of NASDAQ AVGO opened at $377.75 on Wednesday. Broadcom Inc. has a 12-month low of $262.66 and a 12-month high of $495.00. The company has a market cap of $1.80 trillion, a price-to-earnings ratio of 62.96, a price-to-earnings-growth ratio of 0.65 and a beta of 1.41. The company has a current ratio of 2.24, a quick ratio of 2.01 and a debt-to-equity ratio of 0.71. The stock’s 50 day simple moving average is $410.61 and its 200 day simple moving average is $362.60.
Broadcom (NASDAQ:AVGO – Get Free Report) last issued its quarterly earnings data on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 EPS for the quarter, topping analysts’ consensus estimates of $2.40 by $0.04. Broadcom had a return on equity of 41.61% and a net margin of 38.85%.The firm had revenue of $22.19 billion during the quarter, compared to the consensus estimate of $22.13 billion. During the same period in the prior year, the business earned $1.58 EPS. The firm’s revenue was up 47.9% on a year-over-year basis. Equities research analysts expect that Broadcom Inc. will post 10.24 EPS for the current year.
Broadcom Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 22nd were issued a dividend of $0.65 per share. The ex-dividend date of this dividend was Monday, June 22nd. This represents a $2.60 annualized dividend and a dividend yield of 0.7%. Broadcom’s payout ratio is 43.33%.
About Broadcom
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.
Read More
- Five stocks we like better than Broadcom
- NextEra’s Dominion Deal Could Put It at the Center of the AI Power Race
- Amazon Could Be About to Reap the Rewards of a Software Spending Boom
- Best Buy’s Turnaround Is Gaining Traction, But Wall Street Still Needs Proof
- AI Fears Hit Nebius Stock, But Has the Growth Thesis Changed?
Want to see what other hedge funds are holding AVGO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Broadcom Inc. (NASDAQ:AVGO – Free Report).
Receive News & Ratings for Broadcom Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Broadcom and related companies with MarketBeat.com's FREE daily email newsletter.
