Broadcom Inc. $AVGO is Campbell Newman Asset Management Inc.'s 3rd Largest Position

Key Points

• Campbell Newman Asset Management cut its Broadcom stake by 15.5% in the first quarter, but Broadcom still ranks as its 3rd-largest holding at 4.9% of assets, valued at about $60.7 million.
• Broadcom reported better-than-expected quarterly results, with EPS of $2.44 and revenue of $22.19 billion, and revenue surged 47.9% year over year. Analysts remain mostly bullish, with a consensus rating of Moderate Buy and an average price target of $493.24.
• The company also announced a quarterly dividend of $0.65 per share, while recent insider sales and a broader tech-sector pullback contributed to pressure on the stock, which was down 3.1% in the article.

Campbell Newman Asset Management Inc. lowered its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 15.5% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 196,119 shares of the semiconductor manufacturer's stock after selling 35,918 shares during the period. Broadcom makes up 4.9% of Campbell Newman Asset Management Inc.'s holdings, making the stock its 3rd biggest holding. Campbell Newman Asset Management Inc.'s holdings in Broadcom were worth $60,701,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. ROSS JOHNSON & Associates LLC grew its stake in shares of 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 acquiring an additional 66 shares in the last quarter. SWAN Capital LLC increased 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 period. Miller Global Investments LLC acquired a new stake in shares of Broadcom in the fourth quarter valued at $31,000. Nvest Wealth Strategies Inc. acquired a new stake in shares of Broadcom in the fourth quarter valued at $33,000. Finally, Family CFO Inc purchased a new position in Broadcom in the fourth quarter valued at $35,000. 76.43% of the stock is owned by hedge funds and other institutional investors.

Broadcom Stock Down 3.1%

Shares of Broadcom stock opened at $380.15 on Wednesday. Broadcom Inc. has a one year low of $258.77 and a one year high of $495.00. 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 fifty day moving average of $412.34 and a two-hundred day moving average of $363.42. The company has a market cap of $1.81 trillion, a P/E ratio of 63.36, a PEG ratio of 0.69 and a beta of 1.41.

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

Broadcom Announces Dividend

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

Insider Buying and Selling at Broadcom

In other news, Director Justine Page sold 2,018 shares of the firm's stock in a transaction that occurred on Wednesday, April 8th. The stock was sold at an average price of $353.00, for a total value of $712,354.00. Following the completion of the sale, the director directly owned 18,164 shares of the company's stock, valued at $6,411,892. This trade represents a 10.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Mark David Brazeal sold 4,825 shares of Broadcom stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $394.91, for a total value of $1,905,440.75. Following the completion of the sale, the insider owned 269,989 shares in the company, valued at approximately $106,621,355.99. This trade represents a 1.76% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 59,385 shares of company stock worth $21,301,057. 1.90% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have recently commented on AVGO shares. Rosenblatt Securities reissued a "buy" rating and set a $500.00 price objective on shares of Broadcom in a research report on Thursday, June 4th. Erste Group Bank upgraded shares of Broadcom from a "hold" rating to a "buy" rating in a research note on Friday, June 5th. Jefferies Financial Group set a $550.00 price objective on Broadcom and gave the stock a "buy" rating in a report on Thursday, June 4th. Citigroup reiterated a "buy" rating on shares of Broadcom in a research report on Thursday, June 4th. Finally, KeyCorp reissued 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. One research analyst has rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $493.24.

More Broadcom News

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom’s AI business remains a major strength, with reports highlighting record semiconductor sales, strong bookings, and customer commitments tied to hyperscaler demand for custom AI chips and networking. Broadcom's AI Push Boosts Semiconductor Sales: More Upside Ahead?
• Positive Sentiment: JPMorgan and other bullish commentary suggested the recent dip could be a buying opportunity, citing Broadcom’s locked-in AI chip partnership with Google through 2031 and expanding AI platform initiatives. Ignore the noise: Top bank says AVGO stock dip is a buying opportunity, points to locked-in Broadcom–Google AI chip deal through 2031
• Neutral Sentiment: Broadcom continues to draw investor attention thanks to its AI XPV platform and custom XPUs, which could support future AI compute demand, but this is more of a long-term growth story than a near-term stock catalyst. How Broadcom’s (AVGO) AI XPV Platform Ties Its Custom XPUs to the Next Wave of AI Compute Demand
• Neutral Sentiment: Recent earnings comparisons showed Broadcom still performing well versus peers, but this appears to be more of a recap of already-known quarterly strength than a new catalyst. A look back at processors and graphics chips stocks’ Q1 earnings: Broadcom NASDAQ: AVGO vs the rest of the pack
• Negative Sentiment: A Barron’s report said Broadcom fell along with other chip stocks in a broader tech selloff, suggesting the stock is being hit by sector-wide risk aversion rather than company-specific weakness. Nvidia, AMD, Broadcom Fall as Tech Selloff Catches Up With Chips
• Negative Sentiment: Broadcom also faced a rating downgrade from Wall Street Zen and a Seeking Alpha note warning that its infrastructure exposure and leverage could create risk despite strong AI momentum. Broadcom: $2 Trillion AI Debt Engine Meets High Infrastructural Risk (Rating Downgrade)

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.