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

Key Points

• John G Ullman & Associates cut its Broadcom stake by 6.8% in the first quarter, selling 4,240 shares and leaving it with 58,205 shares worth about $18.0 million.
• Broadcom’s recent business updates remain upbeat, with analysts highlighting it as a favored way to play the AI infrastructure buildout and pointing to strong AI chip revenue growth and cash generation.
• The company also reported solid fundamentals: quarterly EPS of $2.44 beat estimates, revenue rose 47.9% year over year, and Broadcom continues to pay a quarterly dividend of $0.65 per share.

John G Ullman & Associates Inc. decreased its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 6.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 58,205 shares of the semiconductor manufacturer's stock after selling 4,240 shares during the period. Broadcom comprises approximately 2.4% of John G Ullman & Associates Inc.'s investment portfolio, making the stock its 7th largest holding. John G Ullman & Associates Inc.'s holdings in Broadcom were worth $18,015,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Kera Capital Partners Inc. increased its holdings in Broadcom by 0.5% in the 1st quarter. Kera Capital Partners Inc. now owns 24,357 shares of the semiconductor manufacturer's stock worth $7,539,000 after acquiring an additional 128 shares in the last quarter. Cornerstone Planning Group LLC lifted its holdings in Broadcom by 13.7% during the first quarter. Cornerstone Planning Group LLC now owns 2,935 shares of the semiconductor manufacturer's stock valued at $908,000 after purchasing an additional 353 shares in the last quarter. Gryphon Financial Partners LLC grew its position in shares of Broadcom by 13.6% in the first quarter. Gryphon Financial Partners LLC now owns 29,605 shares of the semiconductor manufacturer's stock valued at $9,163,000 after purchasing an additional 3,539 shares during the period. Arcus Capital Partners LLC grew its position in shares of Broadcom by 64.9% in the first quarter. Arcus Capital Partners LLC now owns 2,348 shares of the semiconductor manufacturer's stock valued at $727,000 after purchasing an additional 924 shares during the period. Finally, Astra Wealth Partners LLC increased its stake in shares of Broadcom by 5.2% during the first quarter. Astra Wealth Partners LLC now owns 2,038 shares of the semiconductor manufacturer's stock worth $631,000 after purchasing an additional 101 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company's stock.

Key Headlines Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Morgan Stanley said Broadcom remains one of its preferred ways to play the AI infrastructure buildout, calling AVGO an attractive risk-reward name after the recent semiconductor pullback. Broadcom stock gains 2% today: here's why
• Positive Sentiment: Analysts and market commentary highlighted Broadcom as a high-cash-flow AI chip stock that could benefit as investors look for quality names amid market volatility. 4 High Cash-Producing AI Chip Stocks to Buy Amid Market Uncertainties
• Positive Sentiment: Broadcom’s AI business is being viewed as a key driver of the investment case, with reports noting strong AI chip revenue growth and a larger shift toward AI-related mix. AMD vs. Broadcom: The Better AI-Chip Stock to Buy After the Sell-Off
• Positive Sentiment: Broadcom also announced a major infrastructure software deal with Standard Chartered to modernize banking cloud operations across 54 markets, which supports its VMware-based software revenue stream. Broadcom (AVGO) Lands Standard Chartered Deal To Power Banking Cloud In 54 Markets
• Neutral Sentiment: Broadcom was included in broader “buy the dip” chip-sector commentary as investors looked for value after the recent memory and AI semiconductor sell-off. The Memory Stock Sell-Off Created a ‘Strong Entry Point,' Says Morgan Stanley. Investors Are Buying In.
• Negative Sentiment: Recent articles also noted that semiconductor stocks had fallen into a bear market after a sharp index decline, reflecting ongoing sectorwide pressure that could cap gains for AVGO. Semiconductor stocks enter bear market: Is bubble burst next?

Insider Buying and Selling

In related news, Director Harry L. You acquired 1,000 shares of the stock in a transaction on Thursday, June 11th. The shares were bought at an average price of $373.57 per share, with a total value of $373,570.00. Following the completion of the purchase, the director owned 38,466 shares of the company's stock, valued at approximately $14,369,743.62. This represents a 2.67% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Justine Page sold 1,602 shares of the company's stock in a transaction on Monday, June 29th. The shares were sold at an average price of $373.86, for a total value of $598,923.72. Following the completion of the sale, the director owned 17,426 shares of the company's stock, valued at approximately $6,514,884.36. The trade was a 8.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 61,644 shares of company stock worth $24,016,214. 1.90% of the stock is currently owned by corporate insiders.

Broadcom Stock Performance

AVGO opened at $378.16 on Tuesday. Broadcom Inc. has a twelve month low of $273.00 and a twelve month high of $495.00. The firm has a market capitalization of $1.80 trillion, a PE ratio of 63.03, a PEG ratio of 0.65 and a beta of 1.45. 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 firm's 50-day moving average price is $400.28 and its 200 day moving average price is $365.62.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its 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 analyst estimates of $22.13 billion. Broadcom had a net margin of 38.85% and a return on equity of 41.61%. The business's revenue was up 47.9% on a year-over-year basis. During the same period last year, the company posted $1.58 EPS. As a group, sell-side analysts expect that Broadcom Inc. will post 10.24 EPS for the current fiscal year.

Broadcom Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 22nd were given a dividend of $0.65 per share. 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 dividend payout ratio (DPR) is presently 43.33%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on AVGO shares. Cantor Fitzgerald restated an "overweight" rating and set a $525.00 price target on shares of Broadcom in a research report on Thursday, June 4th. Wells Fargo & Company reiterated an "overweight" rating and set a $545.00 price objective (up from $430.00) on shares of Broadcom in a research note on Thursday, May 14th. Dbs Bank upgraded Broadcom to a "moderate buy" rating in a research note on Thursday, June 18th. DA Davidson increased their target price on Broadcom from $375.00 to $400.00 and gave the company a "neutral" rating in a report on Thursday, June 4th. Finally, TD Cowen restated a "buy" rating and issued a $500.00 target price on shares of Broadcom in a research report on Thursday, June 4th. One research analyst has rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $493.24.

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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