STF Management LP trimmed its stake in shares of Broadcom Inc. (NASDAQ:AVGO – Free Report) by 60.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,898 shares of the semiconductor manufacturer’s stock after selling 25,632 shares during the period. Broadcom makes up about 5.5% of STF Management LP’s investment portfolio, making the stock its 4th biggest position. STF Management LP’s holdings in Broadcom were worth $5,848,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors also recently modified their holdings of the company. JCIC Asset Management Inc. acquired a new position in shares of Broadcom during the third quarter worth approximately $31,000. Miller Global Investments LLC acquired a new position in shares of Broadcom during the fourth quarter worth approximately $31,000. Nvest Wealth Strategies Inc. bought a new position in Broadcom in the fourth quarter valued at about $33,000. Family CFO Inc bought a new position in Broadcom in the fourth quarter valued at about $35,000. Finally, PayPay Securities Corp boosted its holdings in Broadcom by 88.9% in the fourth quarter. PayPay Securities Corp now owns 119 shares of the semiconductor manufacturer’s stock valued at $41,000 after acquiring an additional 56 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several analysts have weighed in on the company. Truist Financial boosted their price objective on Broadcom from $510.00 to $545.00 and gave the stock a “buy” rating in a report on Thursday, March 5th. TD Cowen reiterated a “buy” rating and set a $500.00 price target (up from $405.00) on shares of Broadcom in a research report on Friday, May 15th. Mizuho reiterated an “outperform” rating and set a $480.00 price target on shares of Broadcom in a research report on Thursday, April 16th. Wells Fargo & Company reiterated an “overweight” rating and set a $545.00 price target (up from $430.00) on shares of Broadcom in a research report on Thursday, May 14th. Finally, Bank of America lowered their price target on shares of Broadcom from $500.00 to $450.00 and set a “buy” rating for the company in a research report on Thursday, March 5th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $448.10.
Trending Headlines about Broadcom
Here are the key news stories impacting Broadcom this week:
- Positive Sentiment: Broadcom renewed and expanded ties with the London Stock Exchange Group, adding another sign of demand for its VMware and cloud infrastructure offerings. The company also reiterated momentum in its custom AI chip business, with an internal target of $100 billion in AI-chip revenue by 2027. Broadcom Deepens LSEG Ties While Targeting US$100b In Custom AI Chips
- Positive Sentiment: Applied Materials named Broadcom as an EPIC Innovation Partner, highlighting collaboration on advanced packaging technologies for next-generation AI chips and systems. That supports the view that Broadcom remains central to the AI hardware buildout. Applied Materials Announces Broadcom as EPIC Innovation Partner
- Positive Sentiment: Analysts reportedly raised price targets on Broadcom, reinforcing optimism around AI-related growth and helping offset the recent tech-sector pullback. Analysts raise Broadcom stock price target
- Positive Sentiment: Multiple recent articles argued Broadcom remains a strong growth and long-term investment idea, citing its solid fundamentals and durable AI exposure. Is Broadcom (AVGO) One of the Best Long Term US Stocks to Buy Right Now?
- Neutral Sentiment: Some commentary suggested Broadcom is becoming “overcrowded,” implying investor enthusiasm may already be very high and the stock could be vulnerable to volatility after its recent gains. Broadcom Is Far Too Overcrowded
- Neutral Sentiment: Other pieces discussed Broadcom’s valuation and the broader tech selloff, which may be contributing to near-term pressure despite the company’s strong AI narrative. What’s going on with Broadcom stock Thursday?
Broadcom Stock Down 0.8%
Shares of NASDAQ:AVGO opened at $414.57 on Friday. Broadcom Inc. has a one year low of $226.18 and a one year high of $442.36. The company has a 50 day moving average of $371.85 and a 200-day moving average of $355.68. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.90 and a quick ratio of 1.73. The stock has a market cap of $1.96 trillion, a price-to-earnings ratio of 80.97, a P/E/G ratio of 0.86 and a beta of 1.43.
Broadcom (NASDAQ:AVGO – Get Free Report) last issued its quarterly earnings results on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 EPS for the quarter, topping the consensus estimate of $2.03 by $0.02. Broadcom had a net margin of 36.57% and a return on equity of 38.61%. The company had revenue of $19.31 billion during the quarter, compared to analysts’ expectations of $19.10 billion. During the same quarter in the previous year, the company earned $1.60 EPS. Broadcom’s revenue was up 29.5% on a year-over-year basis. On average, sell-side analysts forecast that Broadcom Inc. will post 9.97 earnings per share for the current year.
Broadcom Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Monday, March 23rd were issued a dividend of $0.65 per share. The ex-dividend date was Monday, March 23rd. This represents a $2.60 dividend on an annualized basis and a yield of 0.6%. Broadcom’s payout ratio is currently 50.78%.
Insider Activity
In related news, insider S. Ram Velaga sold 38,841 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the insider 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Charlie B. Kawwas sold 39,116 shares of the business’s stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $321.61, for a total transaction of $12,580,096.76. Following the transaction, the insider owned 74,626 shares of the company’s stock, valued at approximately $24,000,467.86. This represents a 34.39% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 324,282 shares of company stock worth $106,425,249 in the last ninety days. Company insiders own 1.90% of the company’s stock.
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.
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