Harvest Fund Management Co. Ltd lessened its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 17.9% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 278,359 shares of the semiconductor manufacturer's stock after selling 60,571 shares during the quarter. Broadcom accounts for approximately 3.6% of Harvest Fund Management Co. Ltd's portfolio, making the stock its 7th biggest position. Harvest Fund Management Co. Ltd's holdings in Broadcom were worth $96,312,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Brown Brothers Harriman & Co. raised its stake in Broadcom by 10.7% during the third quarter. Brown Brothers Harriman & Co. now owns 77,411 shares of the semiconductor manufacturer's stock valued at $25,539,000 after buying an additional 7,499 shares in the last quarter. Dana Investment Advisors Inc. raised its stake in Broadcom by 2.6% during the third quarter. Dana Investment Advisors Inc. now owns 173,759 shares of the semiconductor manufacturer's stock valued at $57,325,000 after buying an additional 4,442 shares in the last quarter. Guinness Atkinson Asset Management Inc raised its stake in Broadcom by 248.2% during the third quarter. Guinness Atkinson Asset Management Inc now owns 26,238 shares of the semiconductor manufacturer's stock valued at $8,603,000 after buying an additional 18,703 shares in the last quarter. Sovran Advisors LLC raised its stake in Broadcom by 121.3% during the fourth quarter. Sovran Advisors LLC now owns 30,631 shares of the semiconductor manufacturer's stock valued at $10,507,000 after buying an additional 16,789 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. raised its stake in Broadcom by 406.1% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 11,994 shares of the semiconductor manufacturer's stock valued at $4,151,000 after buying an additional 9,624 shares in the last quarter. Hedge funds and other institutional investors own 76.43% of the company's stock.
Insider Transactions at Broadcom
In related news, insider S. Ram Velaga sold 8,000 shares of the firm's stock in a transaction that occurred on Friday, April 10th. The stock was sold at an average price of $370.52, for a total value of $2,964,160.00. Following the sale, the insider directly owned 57,932 shares in the company, valued at $21,464,964.64. This trade represents a 12.13% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Mark David Brazeal sold 50,488 shares of the firm's stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $321.60, for a total value of $16,236,940.80. Following the completion of the sale, the insider owned 278,141 shares in the company, valued at approximately $89,450,145.60. This represents a 15.36% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 324,282 shares of company stock worth $106,425,249 over the last quarter. Insiders own 1.90% of the company's stock.
Broadcom Price Performance
Shares of Broadcom stock opened at $385.73 on Monday. The company has a current ratio of 2.24, a quick ratio of 2.01 and a debt-to-equity ratio of 0.71. The business's 50 day simple moving average is $396.22 and its 200-day simple moving average is $362.04. The stock has a market capitalization of $1.83 trillion, a price-to-earnings ratio of 64.29, a PEG ratio of 0.70 and a beta of 1.41. Broadcom Inc. has a twelve month low of $241.11 and a twelve month high of $495.00.
Broadcom (NASDAQ:AVGO - Get Free Report) last announced its quarterly earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share 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 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 quarterly revenue was up 47.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.58 EPS. Equities research analysts forecast that Broadcom Inc. will post 9.97 earnings per share for the current year.
Broadcom Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 22nd will be given a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 0.7%. The ex-dividend date is Monday, June 22nd. Broadcom's dividend payout ratio (DPR) is currently 43.33%.
Wall Street Analysts Forecast Growth
Several analysts have issued reports on the company. Weiss Ratings upgraded Broadcom from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday, May 27th. UBS Group set a $485.00 price objective on Broadcom and gave the company a "buy" rating in a research note on Thursday. Bank of America upped their price objective on Broadcom from $450.00 to $530.00 and gave the company a "buy" rating in a research note on Thursday. Seaport Research Partners reiterated a "neutral" rating on shares of Broadcom in a research report on Wednesday, April 8th. Finally, Evercore reiterated an "outperform" rating and set a $582.00 price target on shares of Broadcom in a research report on Tuesday, May 19th. One research 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. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $490.13.
Read Our Latest Report on AVGO
Key Broadcom News
Here are the key news stories impacting Broadcom this week:
- Positive Sentiment: Broadcom posted record quarterly revenue, beat earnings estimates, and said AI semiconductor demand remains strong, supporting the long-term growth story. Broadcom Q2 Earnings Surpasses Estimates, Revenues Surge Y/Y
- Positive Sentiment: Several analysts remain bullish and raised price targets after the pullback, arguing the market is overreacting to expectations rather than fundamentals. Goldman Sachs urges investors to buy Broadcom dip with still AI revenue trajectory intact
- Positive Sentiment: Management still expects AI revenue to reach $56 billion in fiscal 2026 and more than $100 billion in fiscal 2027, keeping the longer-term AI thesis intact. AVGO Shares Drop 13% Post Q2 Results: Buy, Sell or Hold on the Dip?
- Neutral Sentiment: Broadcom also declared a quarterly dividend, which is supportive for income investors but not a major near-term stock driver.
- Negative Sentiment: The stock is under pressure because the AI outlook, while strong, was not upgraded enough to satisfy investors who had priced in an even bigger upside surprise. Broadcom's sales and AI chip forecast comes in below expectations, shares tumble
- Negative Sentiment: The disappointment has spilled over into the semiconductor sector, pressuring peers such as AMD, Intel, Micron, and Marvell as investors reassess AI trade valuations. Intel, AMD stocks slide again in aftermath of Broadcom's weak outlook
About Broadcom
(
Free Report)
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.
See Also
Want to see what other hedge funds are holding AVGO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Broadcom Inc. (NASDAQ:AVGO - Free Report).
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.
Before you consider Broadcom, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Broadcom wasn't on the list.
While Broadcom currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
The AI boom is creating opportunities across semiconductors, cloud computing, enterprise software, infrastructure, cybersecurity, and automation.
Inside this report, you’ll find 10 companies positioned to benefit as artificial intelligence moves from hype to real-world deployment and becomes a core growth driver for corporate America.
Get This Free Report
