Broadcom (NASDAQ:AVGO) Stock Price Down 2.4% on Insider Selling

Key Points

• Broadcom shares fell 2.4% after director Justine Page disclosed the sale of 1,602 shares, worth about $599,000, in a June 29 transaction.
• Despite the pullback, analysts remain broadly bullish on the stock, with multiple firms reiterating buy ratings and price targets as high as $575. The consensus rating remains Moderate Buy with an average target price of $493.24.
• Broadcom’s fundamentals remain strong, as the company recently beat quarterly EPS and revenue estimates and posted year-over-year revenue growth of 47.9%. The company also paid a quarterly dividend of $0.65 per share, yielding about 0.7% annually.

Shares of Broadcom Inc. (NASDAQ:AVGO - Get Free Report) traded down 2.4% during mid-day trading on Thursday after an insider sold shares in the company. The stock traded as low as $356.43 and last traded at $360.45. Approximately 26,439,138 shares changed hands during trading, a decline of 0% from the average session volume of 26,487,764 shares. The stock had previously closed at $369.34.

Specifically, Director Justine Page sold 1,602 shares of the stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $373.86, for a total value of $598,923.72. Following the sale, the director directly owned 17,426 shares of the company's stock, valued at approximately $6,514,884.36. This represents a 8.42% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. KeyCorp reaffirmed an "overweight" rating and set a $575.00 price objective (up from $500.00) on shares of Broadcom in a research report on Thursday, June 4th. Royal Bank Of Canada increased their target price on Broadcom from $360.00 to $400.00 and gave the company a "sector perform" rating in a report on Thursday, June 4th. Rosenblatt Securities restated a "buy" rating and issued a $500.00 price target on shares of Broadcom in a research note on Thursday, June 4th. Wall Street Zen upgraded Broadcom from a "buy" rating to a "strong-buy" rating in a research note on Wednesday. Finally, TD Cowen reaffirmed a "buy" rating and set a $500.00 price target on shares of Broadcom in a report on Thursday, June 4th. One analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $493.24.

Broadcom News Summary

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Several articles highlighted Broadcom’s role in the AI infrastructure boom, including strong demand for custom AI chips and its OpenAI-related accelerator work, reinforcing the long-term growth story. UBS Reaffirms Buy Rating on Broadcom (AVGO) Amid AI ASIC Demand and OpenAI, Anthropic Growth
• Positive Sentiment: Wall Street analysts remain constructive, with firms such as UBS, Jefferies, JPMorgan, Goldman Sachs and Morgan Stanley reiterating bullish ratings and high price targets, suggesting they see meaningful upside from current levels. JPMorgan Stands by Sky-High Broadcom Target as Shares Slide
• Positive Sentiment: Commentary across multiple articles framed Broadcom as one of the key beneficiaries of 2026’s AI semiconductor spending wave, which keeps investors interested in the stock on pullbacks. Broadcom vs Nvidia: The $100B AI Race and One Winner

Broadcom Stock Down 2.4%

The firm's 50-day moving average price is $410.00 and its two-hundred day moving average price is $362.34. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.01 and a current ratio of 2.24. The firm has a market cap of $1.71 trillion, a PE ratio of 60.08, a P/E/G ratio of 0.66 and a beta of 1.45.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 EPS for the quarter, beating analysts' consensus estimates of $2.40 by $0.04. Broadcom had a net margin of 38.85% and a return on equity of 41.61%. The firm had revenue of $22.19 billion for the quarter, compared to the consensus estimate of $22.13 billion. During the same period last year, the firm posted $1.58 EPS. The company's revenue was up 47.9% on a year-over-year basis. As a group, equities research analysts expect that Broadcom Inc. will post 10.24 EPS for the current fiscal year.

Broadcom Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders 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 dividend payout ratio (DPR) is presently 43.33%.

Institutional Trading of Broadcom

Hedge funds and other institutional investors have recently made changes to their positions in the company. ROSS JOHNSON & Associates LLC lifted its stake in Broadcom by 1,320.0% in the fourth quarter. ROSS JOHNSON & Associates LLC now owns 71 shares of the semiconductor manufacturer's stock valued at $25,000 after buying an additional 66 shares during the last quarter. Networth Advisors LLC boosted its holdings in shares of Broadcom by 546.2% in the first quarter. Networth Advisors LLC now owns 84 shares of the semiconductor manufacturer's stock valued at $26,000 after acquiring an additional 71 shares during the period. SWAN Capital LLC grew its position in shares of Broadcom by 261.9% during the fourth quarter. SWAN Capital LLC now owns 76 shares of the semiconductor manufacturer's stock worth $26,000 after acquiring an additional 55 shares during the last quarter. Miller Global Investments LLC purchased a new position in shares of Broadcom during the fourth quarter worth approximately $31,000. Finally, Nvest Wealth Strategies Inc. acquired a new position in shares of Broadcom in the 4th quarter valued at $33,000. Institutional investors and hedge funds own 76.43% of the company's stock.

Broadcom Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.