Broadcom Inc. $AVGO Shares Sold by John G Ullman & Associates Inc.

Key Points

• John G Ullman & Associates reduced its Broadcom stake by 23.8% in the fourth quarter, selling 19,476 shares and leaving it with 62,445 shares worth about $21.6 million.
• Broadcom continues to benefit from strong AI and cloud infrastructure demand, including renewed and expanded ties with London Stock Exchange Group and momentum in its custom AI chip business.
• Despite some concerns about valuation and crowded positioning, analysts remain broadly bullish: multiple firms raised price targets, and Broadcom reported earnings and revenue that beat expectations in its latest quarterly results.

John G Ullman & Associates Inc. lessened its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 23.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 62,445 shares of the semiconductor manufacturer's stock after selling 19,476 shares during the quarter. Broadcom makes up 2.9% of John G Ullman & Associates Inc.'s holdings, making the stock its 6th biggest position. John G Ullman & Associates Inc.'s holdings in Broadcom were worth $21,612,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of Broadcom by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 482,707,302 shares of the semiconductor manufacturer's stock valued at $167,064,997,000 after buying an additional 3,919,715 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of Broadcom by 1.8% in the 3rd quarter. Invesco Ltd. now owns 39,149,651 shares of the semiconductor manufacturer's stock valued at $12,915,861,000 after buying an additional 700,021 shares during the last quarter. Legal & General Group Plc boosted its holdings in shares of Broadcom by 2.3% in the 3rd quarter. Legal & General Group Plc now owns 33,450,786 shares of the semiconductor manufacturer's stock valued at $11,035,749,000 after buying an additional 748,709 shares during the last quarter. Franklin Resources Inc. boosted its holdings in shares of Broadcom by 4.0% in the 3rd quarter. Franklin Resources Inc. now owns 29,511,195 shares of the semiconductor manufacturer's stock valued at $9,736,038,000 after buying an additional 1,124,590 shares during the last quarter. Finally, Amundi boosted its holdings in shares of Broadcom by 3.3% in the 3rd quarter. Amundi now owns 22,216,816 shares of the semiconductor manufacturer's stock valued at $7,453,320,000 after buying an additional 716,523 shares during the last quarter. Institutional investors and hedge funds own 76.43% of the company's stock.

Broadcom News Roundup

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom renewed and expanded ties with the London Stock Exchange Group, adding another sign of demand for its VMware and cloud infrastructure offerings. The company also reiterated momentum in its custom AI chip business, with an internal target of $100 billion in AI-chip revenue by 2027. Broadcom Deepens LSEG Ties While Targeting US$100b In Custom AI Chips
• Positive Sentiment: Applied Materials named Broadcom as an EPIC Innovation Partner, highlighting collaboration on advanced packaging technologies for next-generation AI chips and systems. That supports the view that Broadcom remains central to the AI hardware buildout. Applied Materials Announces Broadcom as EPIC Innovation Partner
• Positive Sentiment: Analysts reportedly raised price targets on Broadcom, reinforcing optimism around AI-related growth and helping offset the recent tech-sector pullback. Analysts raise Broadcom stock price target
• Positive Sentiment: Multiple recent articles argued Broadcom remains a strong growth and long-term investment idea, citing its solid fundamentals and durable AI exposure. Is Broadcom (AVGO) One of the Best Long Term US Stocks to Buy Right Now?
• Neutral Sentiment: Some commentary suggested Broadcom is becoming “overcrowded,” implying investor enthusiasm may already be very high and the stock could be vulnerable to volatility after its recent gains. Broadcom Is Far Too Overcrowded
• Neutral Sentiment: Other pieces discussed Broadcom’s valuation and the broader tech selloff, which may be contributing to near-term pressure despite the company’s strong AI narrative. What's going on with Broadcom stock Thursday?

Analyst Upgrades and Downgrades

AVGO has been the topic of a number of research analyst reports. Mizuho restated an "outperform" rating and issued a $480.00 price target on shares of Broadcom in a research note on Thursday, April 16th. Morgan Stanley increased their price target on Broadcom from $462.00 to $470.00 and gave the company an "overweight" rating in a research note on Friday, March 6th. Truist Financial increased their price target on Broadcom from $510.00 to $545.00 and gave the company a "buy" rating in a research note on Thursday, March 5th. Evercore restated an "outperform" rating and issued a $582.00 price target on shares of Broadcom in a research note on Tuesday. Finally, UBS Group restated a "buy" rating and issued a $490.00 price target (up from $475.00) on shares of Broadcom in a research note on Monday. Two research analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, Broadcom presently has an average rating of "Moderate Buy" and an average price target of $448.10.

Broadcom Stock Down 0.8%

Shares of NASDAQ AVGO opened at $414.57 on Friday. 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 Inc. has a 52 week low of $226.18 and a 52 week high of $442.36. The stock has a market capitalization of $1.96 trillion, a P/E ratio of 80.97, a PEG ratio of 0.86 and a beta of 1.43. The stock's fifty day moving average is $371.85 and its 200 day moving average is $355.68.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its quarterly earnings results on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 EPS for the quarter, topping analysts' consensus estimates of $2.03 by $0.02. Broadcom had a return on equity of 38.61% and a net margin of 36.57%.The company had revenue of $19.31 billion for the quarter, compared to analysts' expectations of $19.10 billion. During the same quarter last year, the business earned $1.60 earnings per share. Broadcom's revenue was up 29.5% on a year-over-year basis. Sell-side analysts forecast that Broadcom Inc. will post 9.97 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Monday, March 23rd were given a $0.65 dividend. The ex-dividend date was Monday, March 23rd. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.6%. Broadcom's dividend payout ratio (DPR) is presently 50.78%.

Insider Buying and Selling

In related news, CFO Kirsten M. Spears sold 36,292 shares of the firm's stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $321.60, for a total value of $11,671,507.20. Following the sale, the chief financial officer directly owned 327,760 shares of the company's stock, valued at $105,407,616. This trade represents a 9.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Charlie B. Kawwas sold 39,116 shares of the firm's stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $321.61, for a total value of $12,580,096.76. Following the completion of the sale, the insider directly owned 74,626 shares in the company, valued at $24,000,467.86. This trade represents a 34.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 324,282 shares of company stock worth $106,425,249 over the last three months. Company insiders own 1.90% of the company's stock.

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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