Broadcom Inc. $AVGO is Braun Stacey Associates Inc.'s 6th Largest Position

Key Points

• Braun Stacey Associates trimmed its Broadcom stake by 3.4% in the first quarter, but the stock remains its 6th-largest position, worth about $70.8 million.
• Broadcom reported better-than-expected quarterly results, with EPS of $2.44 and revenue of $22.19 billion, while revenue jumped 47.9% from a year earlier.
• Wall Street remains bullish overall: analysts maintain a Moderate Buy rating with an average price target of $493.24, and recent commentary has highlighted upside from Broadcom’s AI accelerator partnership with OpenAI.

Braun Stacey Associates Inc. decreased its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 3.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 228,819 shares of the semiconductor manufacturer's stock after selling 8,001 shares during the quarter. Broadcom comprises about 2.4% of Braun Stacey Associates Inc.'s portfolio, making the stock its 6th biggest position. Braun Stacey Associates Inc.'s holdings in Broadcom were worth $70,822,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AVGO. Fullerton Advisors LLC boosted its holdings in Broadcom by 1.3% in the first quarter. Fullerton Advisors LLC now owns 1,989 shares of the semiconductor manufacturer's stock worth $616,000 after acquiring an additional 25 shares in the last quarter. RFG Holdings Inc. increased its holdings in shares of Broadcom by 0.3% during the first quarter. RFG Holdings Inc. now owns 8,499 shares of the semiconductor manufacturer's stock valued at $2,631,000 after acquiring an additional 26 shares in the last quarter. Baring Financial LLC raised its position in shares of Broadcom by 2.2% in the 4th quarter. Baring Financial LLC now owns 1,359 shares of the semiconductor manufacturer's stock valued at $470,000 after purchasing an additional 29 shares during the last quarter. Five Oceans Advisors boosted its stake in Broadcom by 0.4% in the 4th quarter. Five Oceans Advisors now owns 8,191 shares of the semiconductor manufacturer's stock worth $2,835,000 after purchasing an additional 29 shares in the last quarter. Finally, Solitude Financial Services grew its position in Broadcom by 0.5% during the 1st quarter. Solitude Financial Services now owns 5,728 shares of the semiconductor manufacturer's stock worth $1,773,000 after purchasing an additional 29 shares during the last quarter. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Broadcom Stock Up 1.4%

Broadcom stock opened at $377.75 on Wednesday. The stock has a market capitalization of $1.80 trillion, a PE ratio of 62.96, a price-to-earnings-growth ratio of 0.65 and a beta of 1.41. The business has a 50 day simple moving average of $410.61 and a 200-day simple moving average of $362.60. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.24 and a quick ratio of 2.01. Broadcom Inc. has a 12 month low of $262.66 and a 12 month high of $495.00.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its quarterly earnings data on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.40 by $0.04. Broadcom had a net margin of 38.85% and a return on equity of 41.61%. The business 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 earnings per share. The company's revenue was up 47.9% compared to the same quarter last year. On average, analysts anticipate that Broadcom Inc. will post 10.24 EPS for the current fiscal year.

Broadcom Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on AVGO shares. Erste Group Bank upgraded shares of Broadcom from a "hold" rating to a "buy" rating in a research note on Friday, June 5th. Zacks Research cut Broadcom from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 21st. Jefferies Financial Group set a $550.00 price target on Broadcom and gave the company a "buy" rating in a research note on Thursday, June 4th. Wall Street Zen raised Broadcom from a "buy" rating to a "strong-buy" rating in a report on Wednesday. Finally, Weiss Ratings cut Broadcom from a "buy (b)" rating to a "buy (b-)" rating in a research note on Friday. One equities research 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's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $493.24.

Trending Headlines about 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

Insider Activity at Broadcom

In other news, insider Mark David Brazeal sold 4,825 shares of Broadcom stock in a transaction on 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 transaction, the insider owned 269,989 shares in the company, valued at $106,621,355.99. The trade was a 1.76% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Justine Page sold 2,018 shares of the business's stock in a transaction dated Wednesday, April 8th. The shares were sold at an average price of $353.00, for a total transaction of $712,354.00. Following the transaction, the director directly owned 18,164 shares in the company, valued at approximately $6,411,892. The trade was a 10.00% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 59,385 shares of company stock valued at $21,301,057 in the last three months. 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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