Assenagon Asset Management S.A. Sells 196,439 Shares of Broadcom Inc. $AVGO

Key Points

• Assenagon Asset Management reduced its Broadcom stake by 12.3% in the first quarter, selling 196,439 shares and leaving it with 1,406,684 shares valued at about $435.4 million.
• Broadcom continues to draw bullish analyst coverage, with multiple firms raising price targets and the stock holding a consensus “Moderate Buy” rating and average target of $493.24.
• The company reported strong recent results and shareholder returns, beating earnings and revenue estimates for the quarter, while also declaring a $0.65 quarterly dividend payable June 30.

Assenagon Asset Management S.A. lessened its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 12.3% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,406,684 shares of the semiconductor manufacturer's stock after selling 196,439 shares during the quarter. Broadcom makes up 0.7% of Assenagon Asset Management S.A.'s portfolio, making the stock its 25th biggest position. Assenagon Asset Management S.A.'s holdings in Broadcom were worth $435,383,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. ROSS JOHNSON & Associates LLC raised its holdings in Broadcom by 1,320.0% in the fourth quarter. ROSS JOHNSON & Associates LLC now owns 71 shares of the semiconductor manufacturer's stock worth $25,000 after purchasing an additional 66 shares in the last quarter. SWAN Capital LLC grew its holdings in Broadcom by 261.9% in the fourth quarter. SWAN Capital LLC now owns 76 shares of the semiconductor manufacturer's stock worth $26,000 after purchasing an additional 55 shares during the period. Miller Global Investments LLC bought a new position in shares of Broadcom during the fourth quarter valued at approximately $31,000. Nvest Wealth Strategies Inc. bought a new position in shares of Broadcom during the fourth quarter valued at approximately $33,000. Finally, Family CFO Inc purchased a new position in shares of Broadcom during the fourth quarter valued at approximately $35,000. Institutional investors own 76.43% of the company's stock.

Insider Buying and Selling

In other news, insider Charlie B. Kawwas sold 10,000 shares of the stock in a transaction that occurred on Wednesday, April 8th. The stock was sold at an average price of $345.23, for a total value of $3,452,300.00. Following the sale, the insider directly owned 787,184 shares in the company, valued at approximately $271,759,532.32. This represents a 1.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Harry L. You acquired 1,000 shares of the company's stock in a transaction that occurred on Thursday, June 11th. The shares were acquired at an average price of $373.57 per share, with a total value of $373,570.00. Following the acquisition, the director owned 38,466 shares in the company, valued at $14,369,743.62. This trade represents a 2.67% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders sold a total of 59,385 shares of company stock worth $21,301,057 over the last three months. 1.90% of the stock is currently owned by company insiders.

Key Headlines Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: OpenAI and Broadcom unveiled “Jalapeño,” a custom AI accelerator built for LLM inference, reinforcing Broadcom’s growing role in AI chip design and improving revenue visibility as deployment is expected in late 2026. Article Title
• Positive Sentiment: Additional coverage highlighted the Jalapeño AI accelerator as a sign that Broadcom is expanding its custom AI silicon roadmap, which could strengthen its position in high-margin AI infrastructure sales. Article Title
• Positive Sentiment: Analysts continue to view Broadcom as a favored long-term AI chip stock, with strong buy ratings reinforcing confidence in the company’s AI and networking growth outlook. Article Title
• Neutral Sentiment: A market note suggested investors may want to “buy the chip dip” and avoid hyperscalers for now, which is supportive for semiconductor names like Broadcom but does not specifically change AVGO’s fundamentals. Article Title
• Negative Sentiment: Broader AI-sector selloff headlines are weighing on sentiment across major tech leaders, suggesting valuation concerns may continue to pressure Broadcom despite its strong fundamentals. Article Title
• Negative Sentiment: One valuation-focused article argued that Broadcom and Marvell may face a “dangerous valuation gap,” which could raise investor concern that AVGO’s premium pricing is getting stretched. Article Title

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Truist Financial upped their price target on Broadcom from $545.00 to $550.00 and gave the stock a "buy" rating in a research note on Thursday, June 4th. Dbs Bank raised Broadcom to a "moderate buy" rating in a research note on Thursday, June 18th. Evercore restated an "outperform" rating and set a $582.00 price target on shares of Broadcom in a report on Tuesday, May 19th. Wells Fargo & Company reiterated an "overweight" rating and issued a $545.00 price target (up from $430.00) on shares of Broadcom in a research note on Thursday, May 14th. Finally, DA Davidson raised their price objective on shares of Broadcom from $375.00 to $400.00 and gave the company a "neutral" rating in a research note 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 assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $493.24.

Broadcom Stock Performance

Shares of NASDAQ AVGO opened at $365.02 on Friday. 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 company has a market cap of $1.74 trillion, a P/E ratio of 60.84, a P/E/G ratio of 0.67 and a beta of 1.41. The firm's fifty day moving average is $411.70 and its two-hundred day moving average is $363.35. Broadcom Inc. has a 52-week low of $262.66 and a 52-week high of $495.00.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its quarterly earnings data on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share (EPS) 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 return on equity of 41.61% and a net margin of 38.85%.The company's revenue was up 47.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.58 EPS. As a group, analysts anticipate that Broadcom Inc. will post 10.24 EPS for the current fiscal year.

Broadcom Announces Dividend

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

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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