Broadcom Inc. $AVGO Shares Sold by Azimuth Capital Investment Management LLC

Key Points

• Azimuth Capital trimmed its stake in Broadcom by 8.1%, selling 22,334 shares and leaving it with 254,298 shares worth about $83.9 million, making Broadcom ~3.0% of the fund and its fourth-largest holding.
• Broadcom beat the quarter with $2.05 EPS (vs. $2.03 est.) and $19.31 billion revenue (+29.5% YoY) and is pushing AI momentum—shipping a 102.4 Tbps switch and targeting >$100B in AI chip revenue by 2027—while executing large buybacks.
• Analysts remain largely bullish (consensus "Moderate Buy", $435.30 target) but valuation concerns and sizable insider selling (458,785 shares, ~$155.5M over 90 days) plus recent stock weakness (opened at $322.16, down ~4.1%) present near-term risks.

Azimuth Capital Investment Management LLC lowered its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 8.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 254,298 shares of the semiconductor manufacturer's stock after selling 22,334 shares during the period. Broadcom makes up approximately 3.0% of Azimuth Capital Investment Management LLC's investment portfolio, making the stock its 4th largest holding. Azimuth Capital Investment Management LLC's holdings in Broadcom were worth $83,895,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of AVGO. JCIC Asset Management Inc. purchased a new stake in shares of Broadcom in the 3rd quarter valued at $31,000. Longfellow Investment Management Co. LLC purchased a new position in shares of Broadcom during the second quarter worth $27,000. Teachers Insurance & Annuity Association of America purchased a new position in shares of Broadcom during the second quarter worth $28,000. Manning & Napier Advisors LLC acquired a new position in Broadcom during the third quarter valued at $34,000. Finally, New England Capital Financial Advisors LLC acquired a new position in Broadcom during the second quarter valued at $31,000. Institutional investors and hedge funds own 76.43% of the company's stock.

Broadcom Stock Down 4.1%

AVGO opened at $322.16 on Friday. The company has a fifty day moving average of $332.73 and a two-hundred day moving average of $344.67. The stock has a market capitalization of $1.53 trillion, a price-to-earnings ratio of 62.92, a PEG ratio of 0.74 and a beta of 1.22. Broadcom Inc. has a fifty-two week low of $138.10 and a fifty-two week high of $414.61. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.73 and a current ratio of 1.90.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its earnings results on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.03 by $0.02. Broadcom had a net margin of 36.57% and a return on equity of 38.61%. The business had revenue of $19.31 billion for the quarter, compared to analyst estimates of $19.10 billion. During the same period in the prior year, the company posted $1.60 EPS. The company's revenue for the quarter was up 29.5% on a year-over-year basis. On average, research analysts expect that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 23rd will be given a dividend of $0.65 per share. The ex-dividend date is Monday, March 23rd. This represents a $2.60 dividend on an annualized basis and a yield of 0.8%. Broadcom's dividend payout ratio is currently 50.78%.

Key Stories Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom says it is now shipping the world’s first 102.4 Tbps switch in production volume, reinforcing its leadership in high‑performance networking for AI datacenters and supporting long‑term revenue potential from AI infrastructure. Broadcom Now Shipping World’s First 102.4 Tbps Switch in Production Volume
• Positive Sentiment: Wall Street remains constructive: Morgan Stanley raised its price target (keeps Overweight) and MarketBeat notes fresh analyst upside estimates after a strong quarter — supportive for medium‑term upside. Morgan Stanley Raises PT on Broadcom, Keeps Overweight Rating
• Positive Sentiment: Broadcom projects very large AI opportunity (>$100B target for AI chip revenue in 2027) and multiple bullish writeups argue AI momentum will drive strong cash flow and share gains versus peers. These projections fuel the bullish fundamental case. Broadcom (AVGO) Rises on AI Chip Sales Forecasts for 2027
• Positive Sentiment: Company is actively repurchasing stock (recent big quarterly buyback and a new $10B authorization), signaling management confidence and providing demand support for the share price. Berkshire, Broadcom & Nucor Are Reving Their Buyback Engines
• Neutral Sentiment: Broadcom showcased an end‑to‑end AI infrastructure portfolio at OFC 2026 (XPUs, optics, PCIe, etc.), a marketing/technical win that supports product breadth but has unclear short‑term revenue impact. Broadcom Showcases Industry-Leading Solutions for Scaling AI Infrastructure at OFC 2026
• Neutral Sentiment: Reported short‑interest data in filings appears anomalous/unstable (zero‑share entries), so it is not a reliable explanation for intraday moves. Market data / short interest
• Negative Sentiment: Critical analysis warns there’s a “catch” to the $100B AI vision — competition (Nvidia), execution risk, timing and margin assumptions could make that target hard to realize quickly; such skepticism can prompt selling by investors expecting immediate payoff. There's A Catch To Broadcom's $100B AI Vision
• Negative Sentiment: Macro/market factors (recent tech rotation, geopolitical and commodity‑driven volatility) and valuation concerns (high P/E versus peers after the run‑up) are increasing near‑term downside pressure as investors trim positions. Broadcom’s AI Momentum Could Be Far From Over

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on AVGO shares. Mizuho set a $480.00 price target on Broadcom and gave the stock an "outperform" rating in a research report on Friday, January 9th. Weiss Ratings reissued a "buy (b)" rating on shares of Broadcom in a report on Monday, December 29th. Wall Street Zen upgraded Broadcom from a "hold" rating to a "buy" rating in a research note on Saturday, December 13th. Morgan Stanley raised their target price on Broadcom from $462.00 to $470.00 and gave the stock an "overweight" rating in a report on Friday, March 6th. Finally, Bank of America reduced their price target on Broadcom from $500.00 to $450.00 and set a "buy" rating for the company in a research report on Thursday, March 5th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $435.30.

Insiders Place Their Bets

In other news, insider Mark David Brazeal sold 38,281 shares of the company's stock in a transaction that occurred on Wednesday, December 17th. The stock was sold at an average price of $327.65, for a total transaction of $12,542,769.65. Following the completion of the transaction, the insider directly owned 266,494 shares of the company's stock, valued at $87,316,759.10. This represents a 12.56% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Kirsten M. Spears sold 30,000 shares of the stock in a transaction that occurred on Wednesday, December 31st. The shares were sold at an average price of $347.82, for a total value of $10,434,600.00. Following the transaction, the chief financial officer owned 277,237 shares in the company, valued at $96,428,573.34. This trade represents a 9.76% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 458,785 shares of company stock worth $155,508,157. 1.90% of the stock is owned by corporate insiders.

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.

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