Broadcom Inc. $AVGO Shares Sold by ICICI Prudential Asset Management Co Ltd

Key Points

• ICICI Prudential Asset Management cut its Broadcom stake by 43.5% in the fourth quarter, selling 21,105 shares and leaving it with 27,453 shares worth about $9.5 million.
• Broadcom reported better-than-expected quarterly results, with EPS of $2.44 and revenue of $22.19 billion, while revenue jumped 47.9% year over year.
• The company also announced a quarterly dividend of $0.65 per share, and analysts remain broadly bullish, with several raising price targets and an average target of $490.13.

ICICI Prudential Asset Management Co Ltd cut its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 43.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 27,453 shares of the semiconductor manufacturer's stock after selling 21,105 shares during the period. Broadcom makes up about 1.1% of ICICI Prudential Asset Management Co Ltd's portfolio, making the stock its 19th largest holding. ICICI Prudential Asset Management Co Ltd's holdings in Broadcom were worth $9,501,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Baring Financial LLC boosted its holdings in shares of Broadcom by 2.2% during the 4th quarter. Baring Financial LLC now owns 1,359 shares of the semiconductor manufacturer's stock worth $470,000 after purchasing an additional 29 shares during the last quarter. Five Oceans Advisors boosted its holdings in shares of Broadcom by 0.4% during 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 during the last quarter. Planning Alternatives Ltd. ADV raised its position in shares of Broadcom by 1.4% during the 3rd quarter. Planning Alternatives Ltd. ADV now owns 2,168 shares of the semiconductor manufacturer's stock valued at $715,000 after buying an additional 30 shares during the period. Bell Investment Advisors Inc raised its position in shares of Broadcom by 1.9% during the 3rd quarter. Bell Investment Advisors Inc now owns 1,638 shares of the semiconductor manufacturer's stock valued at $540,000 after buying an additional 30 shares during the period. Finally, Bare Financial Services Inc raised its position in shares of Broadcom by 11.6% during the 3rd quarter. Bare Financial Services Inc now owns 299 shares of the semiconductor manufacturer's stock valued at $99,000 after buying an additional 31 shares during the period. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Broadcom Stock Performance

NASDAQ:AVGO opened at $385.57 on Friday. The firm has a market capitalization of $1.83 trillion, a PE ratio of 64.26, a price-to-earnings-growth ratio of 0.65 and a beta of 1.41. The business's fifty day moving average price is $402.89 and its 200 day moving average price is $363.19. 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 $244.17 and a 12 month high of $495.00.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 EPS for the quarter, beating the consensus estimate of $2.40 by $0.04. The firm had revenue of $22.19 billion for 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%.Broadcom's revenue for the quarter was up 47.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.58 earnings per share. On average, sell-side analysts anticipate that Broadcom Inc. will post 10.24 earnings per share for the current fiscal year.

Broadcom Announces Dividend

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 issued a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Monday, June 22nd. Broadcom's dividend payout ratio is 43.33%.

Insiders Place Their Bets

In other Broadcom news, insider S. Ram Velaga sold 38,841 shares of the company's stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $321.60, for a total value of $12,491,265.60. Following the completion of the transaction, the insider owned 96,147 shares in the company, valued at $30,920,875.20. This represents a 28.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Kirsten M. Spears sold 36,292 shares of the company's stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $321.60, for a total transaction of $11,671,507.20. Following the completion of the transaction, the chief financial officer owned 327,760 shares of the company's stock, valued at $105,407,616. This represents a 9.97% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 324,282 shares of company stock worth $106,425,249. 1.90% of the stock is owned by corporate insiders.

Analyst Ratings Changes

AVGO has been the topic of several analyst reports. Wells Fargo & Company reaffirmed an "overweight" rating and set a $545.00 price target (up from $430.00) on shares of Broadcom in a research report on Thursday, May 14th. Mizuho lifted their price target on shares of Broadcom from $480.00 to $530.00 and gave the company an "outperform" rating in a research report on Thursday, June 4th. Seaport Research Partners reaffirmed a "neutral" rating on shares of Broadcom in a research report on Wednesday, April 8th. Oppenheimer reaffirmed an "outperform" rating and set a $535.00 price target (up from $450.00) on shares of Broadcom in a research report on Thursday, June 4th. Finally, Jefferies Financial Group set a $550.00 price target on shares of Broadcom and gave the company a "buy" rating in a research report on Thursday, June 4th. One research analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $490.13.

Broadcom News Roundup

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Several analysts raised or reiterated bullish views after the pullback, including Erste Group increasing its FY2026 and FY2027 EPS estimates and maintaining a Buy rating, while other reports said Wall Street price targets are still rising despite the selloff. As Shares Fall, Analyst Are Boosting their Broadcom Price Targets
• Positive Sentiment: Broadcom continues to be highlighted as a major AI winner, with articles noting strong AI chip demand, large AI bookings, and its growing role in custom AI chips for hyperscale customers. Broadcom's Post-Earnings Dip Is a Compelling Buying Opportunity
• Positive Sentiment: Broadcom announced cash tender offers for certain outstanding debt securities, which may be viewed as a balance-sheet management move that could modestly support investor confidence. Broadcom Inc. Commences Offers to Purchase for Cash Certain of its Outstanding Debt Securities
• Neutral Sentiment: Broadcom was also featured in multiple articles calling it a top AI stock in Ken Griffin’s portfolio, reinforcing its reputation as a core AI holding rather than providing a new company-specific catalyst. Broadcom Inc. (AVGO) Is A Top AI Stock In Ken Griffin’s Portfolio
• Negative Sentiment: The main drag on the stock has been post-earnings skepticism: investors punished Broadcom despite beat-and-raise style results because its AI guidance was seen as too conservative relative to a very rich valuation. Stock Market Today, June 10: Broadcom Falls as Strong AI Quarter Tests Stock's Premium Valuation
• Negative Sentiment: Some commentators warned that Broadcom’s AI story may have red flags, with concerns that the market is focused too heavily on short-term guidance and premium expectations rather than fundamentals. Broadcom Looks Like A Value (Growth) Trap

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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