Broadcom Inc. $AVGO is Argent Capital Management LLC's 8th Largest Position

Key Points

• Argent Capital Management reduced its Broadcom stake by 8.1% in the first quarter, selling 27,823 shares. It still held 313,580 shares worth approximately $97.1 million, making Broadcom its eighth-largest position and 3.1% of its portfolio.
• Broadcom reported strong quarterly results, with revenue rising 47.9% year over year to $22.19 billion and earnings of $2.44 per share, exceeding analyst expectations. Analysts maintain a “Moderate Buy” consensus, with an average price target of $493.24.
• Institutional investors own 76.43% of Broadcom, while company insiders sold 61,644 shares worth $24.0 million during the past quarter. The stock trades at a high valuation, with a P/E ratio of 64.88, despite continued optimism around AI accelerators, networking products, and major customer agreements.

Argent Capital Management LLC reduced its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 8.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 313,580 shares of the semiconductor manufacturer's stock after selling 27,823 shares during the quarter. Broadcom makes up approximately 3.1% of Argent Capital Management LLC's investment portfolio, making the stock its 8th biggest position. Argent Capital Management LLC's holdings in Broadcom were worth $97,056,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the stock. Brighton Jones LLC boosted its position in shares of Broadcom by 21.8% in the fourth quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer's stock worth $6,882,000 after purchasing an additional 5,322 shares during the period. Revolve Wealth Partners LLC increased its stake in shares of Broadcom by 10.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 7,997 shares of the semiconductor manufacturer's stock worth $1,854,000 after purchasing an additional 756 shares in the last quarter. United Bank raised its position in shares of Broadcom by 76.5% during the 1st quarter. United Bank now owns 2,339 shares of the semiconductor manufacturer's stock valued at $392,000 after purchasing an additional 1,014 shares during the period. Sivia Capital Partners LLC raised its position in shares of Broadcom by 10.1% during the 2nd quarter. Sivia Capital Partners LLC now owns 12,693 shares of the semiconductor manufacturer's stock valued at $3,499,000 after purchasing an additional 1,160 shares during the period. Finally, Capital & Planning LLC lifted its stake in shares of Broadcom by 10.5% during the 2nd quarter. Capital & Planning LLC now owns 3,983 shares of the semiconductor manufacturer's stock valued at $1,098,000 after buying an additional 378 shares in the last quarter. Institutional investors own 76.43% of the company's stock.

Insiders Place Their Bets

In other news, Director Justine Page sold 1,602 shares of the company's stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $373.86, for a total transaction of $598,923.72. Following the transaction, the director owned 17,426 shares in the company, valued at $6,514,884.36. This represents a 8.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Mark David Brazeal sold 25,000 shares of the company's stock in a transaction on Friday, July 10th. The shares were sold at an average price of $401.33, for a total transaction of $10,033,250.00. Following the completion of the sale, the insider directly owned 194,989 shares in the company, valued at $78,254,935.37. This trade represents a 11.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 61,644 shares of company stock valued at $24,016,214. 1.90% of the stock is currently owned by corporate insiders.

More Broadcom News

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom’s reported multiyear memorandum of understanding with Samsung, valued at more than $200 billion, is expected to provide high-bandwidth memory and advanced manufacturing support for Broadcom’s next-generation AI accelerators through 2030. The arrangement could improve supply-chain capacity and strengthen Broadcom’s position in AI data-center infrastructure. Samsung AI chip pact article
• Positive Sentiment: Apple announced a multiyear agreement with Broadcom as part of its American Manufacturing Program. The partnership is expected to support more than $30 billion of investment in a U.S.-based silicon supply chain and advanced manufacturing equipment, adding a major customer-related opportunity. Apple manufacturing agreement article
• Positive Sentiment: Semiconductor ETFs attracted significant new cash as chip stocks rallied on strong technology earnings, potentially increasing passive and sector-wide demand for AVGO shares. Semiconductor ETF flows article
• Positive Sentiment: Analysts continue to highlight Broadcom’s AI accelerators, networking products, strong bookings, and long-term contracts as drivers of semiconductor growth into fiscal 2027. Consensus estimates imply additional upside, while upward earnings revisions could provide near-term support. Broadcom analyst upside article
• Neutral Sentiment: Commentary characterizes Broadcom as a relatively safer AI-hardware investment and suggests its infrastructure exposure could benefit from strong Alphabet and broader hyperscaler AI spending. However, these views remain dependent on continued capital-expenditure growth and execution. Broadcom safer AI hardware article
• Negative Sentiment: Broadcom recently underperformed the broader market during a pullback, highlighting sensitivity to elevated expectations. With a high earnings multiple after a powerful multiyear advance, investors may demand continued strong growth to justify the valuation. Broadcom market pullback article

Broadcom Trading Up 0.4%

AVGO opened at $389.28 on Friday. The stock's fifty day moving average is $394.08 and its two-hundred day moving average is $368.11. The company has a market capitalization of $1.85 trillion, a P/E ratio of 64.88, a PEG ratio of 0.74 and a beta of 1.45. Broadcom Inc. has a 52 week low of $281.61 and a 52 week high of $495.00. The company has a quick ratio of 2.01, a current ratio of 2.24 and a debt-to-equity ratio of 0.71.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share for the quarter, topping the consensus estimate of $2.40 by $0.04. The business had revenue of $22.19 billion during the quarter, compared to analysts' expectations of $22.13 billion. Broadcom had a return on equity of 41.61% and a net margin of 38.85%.The business's revenue for the quarter was up 47.9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.58 EPS. Analysts forecast that Broadcom Inc. will post 10.24 earnings per share for the current year.

Broadcom Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Seaport Research Partners reaffirmed a "neutral" rating on shares of Broadcom in a report on Wednesday, April 8th. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $525.00 price objective on shares of Broadcom in a research note on Thursday, June 4th. Royal Bank Of Canada increased their target price on Broadcom from $360.00 to $400.00 and gave the stock a "sector perform" rating in a research report on Thursday, June 4th. Susquehanna reissued a "positive" rating and set a $490.00 target price (up from $450.00) on shares of Broadcom in a research note on Thursday, May 28th. Finally, JPMorgan Chase & Co. boosted their price target on Broadcom from $500.00 to $580.00 and gave the stock an "overweight" rating in a report on Thursday, June 4th. Twenty-eight research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $493.24.

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.

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.