Broadcom Inc. $AVGO Position Reduced by Montag A & Associates Inc.

Key Points

• Montag A & Associates Inc. reduced its Broadcom stake by 4.8% in the first quarter, selling 3,369 shares and leaving it with 67,341 shares worth about $20.8 million.
• Broadcom continues to attract strong institutional and analyst attention, with 76.43% of shares held by hedge funds and other institutions, and a consensus Wall Street rating of Moderate Buy with a $493.24 average price target.
• The company reported better-than-expected quarterly results, including $2.44 EPS on $22.19 billion in revenue, while also benefiting from a newly expanded Apple deal valued at more than $30 billion through 2031.

Montag A & Associates Inc. trimmed its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 4.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 67,341 shares of the semiconductor manufacturer's stock after selling 3,369 shares during the quarter. Broadcom makes up approximately 1.0% of Montag A & Associates Inc.'s portfolio, making the stock its 26th largest position. Montag A & Associates Inc.'s holdings in Broadcom were worth $20,843,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in AVGO. Renasant Bank raised its holdings in shares of Broadcom by 29.6% during the first quarter. Renasant Bank now owns 7,096 shares of the semiconductor manufacturer's stock valued at $2,196,000 after acquiring an additional 1,619 shares during the period. Aljian Capital Management LLC boosted its stake in Broadcom by 5.4% in the 1st quarter. Aljian Capital Management LLC now owns 26,146 shares of the semiconductor manufacturer's stock worth $8,093,000 after purchasing an additional 1,337 shares during the period. McLaughlin Asset Management Inc. boosted its stake in Broadcom by 2.0% in the 1st quarter. McLaughlin Asset Management Inc. now owns 10,303 shares of the semiconductor manufacturer's stock worth $3,189,000 after purchasing an additional 203 shares during the period. American Capital Advisory LLC grew its position in Broadcom by 4.1% during the 1st quarter. American Capital Advisory LLC now owns 1,359 shares of the semiconductor manufacturer's stock worth $421,000 after purchasing an additional 53 shares in the last quarter. Finally, Jackson Thornton Wealth Management LLC grew its position in Broadcom by 15.0% during the 1st quarter. Jackson Thornton Wealth Management LLC now owns 6,445 shares of the semiconductor manufacturer's stock worth $1,995,000 after purchasing an additional 839 shares in the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Broadcom

In other Broadcom news, Director Harry L. You purchased 1,000 shares of the business's stock in a transaction dated Thursday, June 11th. The shares were acquired at an average price of $373.57 per share, for a total transaction of $373,570.00. Following the acquisition, the director owned 38,466 shares of the company's stock, valued at $14,369,743.62. This trade represents a 2.67% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Gayla J. Delly sold 1,890 shares of Broadcom stock in a transaction on Wednesday, July 8th. The shares were sold at an average price of $385.38, for a total transaction of $728,368.20. Following the completion of the sale, the director directly owned 31,326 shares of the company's stock, valued at approximately $12,072,413.88. The trade was a 5.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 36,644 shares of company stock valued at $13,982,964 over the last three months. 1.90% of the stock is owned by insiders.

Broadcom News Roundup

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom’s expanded Apple agreement, valued at more than $30 billion through 2031, strengthens visibility for revenue and highlights demand beyond AI chips. Why Broadcom Stock Rose Today
• Positive Sentiment: Analysts remain upbeat on Broadcom’s AI business, with Jefferies reiterating a Buy rating and a $550 price target as AI chip momentum improves. Broadcom’s (AVGO) AI Chip Momentum Keeps Wall Street Bullish
• Positive Sentiment: Broadcom is being viewed as a broader AI infrastructure winner because its networking products help connect large-scale AI systems, expanding the investment thesis beyond GPUs and custom chips. Broadcom stock's latest catalyst targets Nvidia where it looks strongest
• Neutral Sentiment: Some coverage notes Broadcom’s near-$2 trillion market value and strong AI revenue growth, but also suggests much of the good news may already be reflected in the stock. Broadcom Is Less Than 5% From the $2 Trillion Club -- and Apple Just Committed $30 Billion for More Chips
• Negative Sentiment: Erste Group downgraded Broadcom to Hold, citing valuation concerns, which may be limiting upside after the recent rally. Erste Group downgrades Broadcom to Hold citing valuation concerns

Wall Street Analyst Weigh In

Several analysts have recently commented on AVGO shares. Evercore reaffirmed an "outperform" rating and issued a $582.00 target price on shares of Broadcom in a research report on Tuesday, May 19th. Erste Group Bank reissued a "hold" rating on shares of Broadcom in a research note on Tuesday, July 7th. Cantor Fitzgerald restated an "overweight" rating and set a $525.00 price objective on shares of Broadcom in a research report on Thursday, June 4th. Benchmark upped their target price on Broadcom from $485.00 to $545.00 and gave the company a "buy" rating in a report on Thursday, June 4th. Finally, KeyCorp restated an "overweight" rating and set a $575.00 price target (up from $500.00) on shares of Broadcom in a report on Thursday, June 4th. One research analyst has rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $493.24.

Broadcom Stock Down 0.3%

NASDAQ AVGO traded down $1.14 on Friday, reaching $399.97. The stock had a trading volume of 14,579,242 shares, compared to its average volume of 26,802,910. The company has a current ratio of 2.24, a quick ratio of 2.01 and a debt-to-equity ratio of 0.71. Broadcom Inc. has a 1 year low of $269.58 and a 1 year high of $495.00. The business has a 50 day moving average price of $405.29 and a 200 day moving average price of $364.13. The company has a market capitalization of $1.90 trillion, a price-to-earnings ratio of 66.66, a P/E/G ratio of 0.70 and a beta of 1.45.

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 (EPS) for the quarter, beating the consensus estimate of $2.40 by $0.04. The business had revenue of $22.19 billion during the quarter, compared to analyst estimates of $22.13 billion. Broadcom had a return on equity of 41.61% and a net margin of 38.85%.The firm's revenue was up 47.9% on a year-over-year basis. During the same period in the previous year, the company earned $1.58 EPS. On average, analysts forecast that Broadcom Inc. will post 10.24 EPS for the current fiscal year.

Broadcom Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 22nd were paid 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 payout ratio is 43.33%.

Broadcom Company 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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