Broadcom Inc. $AVGO Shares Sold by Saranac Partners Ltd

Key Points

• Saranac Partners Ltd cut its Broadcom stake by 14.3% in the fourth quarter, selling 4,455 shares and leaving it with 26,732 shares worth about $9.26 million. Broadcom still ranks as the firm’s sixth-largest holding.
• Insider selling was notable, with Broadcom insider Charlie B. Kawwas and CFO Kirsten M. Spears both selling shares on March 17. Across the last quarter, insiders sold 324,282 shares valued at about $106.4 million.
• Despite the selling activity, Wall Street remains largely bullish on AVGO: analysts have a consensus “Moderate Buy” rating with an average price target of $448.10. The company also posted strong recent results, beating earnings and revenue estimates with 29.5% year-over-year revenue growth.

Saranac Partners Ltd lowered its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 14.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 26,732 shares of the semiconductor manufacturer's stock after selling 4,455 shares during the quarter. Broadcom comprises about 3.6% of Saranac Partners Ltd's portfolio, making the stock its 6th largest position. Saranac Partners Ltd's holdings in Broadcom were worth $9,263,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Miller Global Investments LLC purchased a new position in shares of Broadcom in the 4th quarter valued at about $31,000. JCIC Asset Management Inc. purchased a new position in shares of Broadcom in the 3rd quarter valued at about $31,000. Nvest Wealth Strategies Inc. purchased a new position in shares of Broadcom in the 4th quarter valued at about $33,000. Family CFO Inc purchased a new position in shares of Broadcom in the 4th quarter valued at about $35,000. Finally, PayPay Securities Corp increased its stake in shares of Broadcom by 88.9% in the 4th quarter. PayPay Securities Corp now owns 119 shares of the semiconductor manufacturer's stock valued at $41,000 after purchasing an additional 56 shares in the last quarter. Hedge funds and other institutional investors own 76.43% of the company's stock.

Insider Activity

In other Broadcom news, insider Charlie B. Kawwas sold 39,116 shares of the business'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 transaction, the insider directly owned 74,626 shares in the company, valued at $24,000,467.86. The trade was a 34.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Kirsten M. Spears sold 36,292 shares of the firm's stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $321.60, for a total transaction of $11,671,507.20. Following the sale, 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 quarter, insiders have sold 324,282 shares of company stock valued at $106,425,249. Company insiders own 1.90% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on AVGO. Zacks Research cut Broadcom from a "strong-buy" rating to a "hold" rating in a report on Thursday. Rosenblatt Securities reiterated a "buy" rating and issued a $500.00 price objective on shares of Broadcom in a report on Tuesday, April 7th. Wells Fargo & Company reiterated an "overweight" rating and issued a $545.00 price objective (up from $430.00) on shares of Broadcom in a report on Thursday, May 14th. UBS Group reiterated a "buy" rating and issued a $490.00 price objective (up from $475.00) on shares of Broadcom in a report on Monday, May 18th. Finally, JPMorgan Chase & Co. lifted their price objective on Broadcom from $475.00 to $500.00 and gave the stock an "overweight" rating in a report on Thursday, March 5th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $448.10.

Key Stories Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom’s AI semiconductor business is showing rapid growth, with AI revenue more than doubling and stronger Q2 expectations tied to hyperscale demand. Broadcom Rides on Accelerating Semiconductor Revenues: What's Ahead?
• Positive Sentiment: Analysts continue to highlight Broadcom as one of Goldman Sachs’ strongest AI infrastructure bets, reinforcing optimism around its role in AI chips and networking. Why Broadcom (AVGO) Remains One of Goldman’s Strongest AI Infrastructure Bets
• Positive Sentiment: Broadcom is expanding its AI ecosystem through a $125 million research and talent hub with Meta and UCLA, plus packaging work with Applied Materials, which could support long-term growth. Broadcom’s AI Research Push Links Chip Packaging Advances To Growth Story
• Positive Sentiment: Several articles and analyst notes point to strong long-term upside, with Broadcom repeatedly described as a durable AI winner and a solid growth stock. Is Broadcom Inc. (AVGO) a Solid Growth Stock? 3 Reasons to Think "Yes"
• Neutral Sentiment: Commentary about Broadcom’s stock price in 2030 reflects bullish long-term AI expectations, but it does not appear to be a near-term catalyst. This Will be Broadcom’s Stock Price In 2030
• Neutral Sentiment: Broader market commentary and inflation worries have also been mentioned, but these articles do not identify a Broadcom-specific problem. Inflation Fears Weighed on Broadcom (AVGO) in Q1
• Negative Sentiment: One recent note says Broadcom remains “overcrowded,” suggesting valuation or positioning risk after a strong rally. Broadcom Is Far Too Overcrowded
• Negative Sentiment: Broadcom has also faced some regulatory scrutiny in the EU, which could create headline risk even as AI sentiment stays positive. Broadcom Inc. (AVGO) Challenges EU Regulators While Barclays Sees AI Upside

Broadcom Stock Performance

Shares of Broadcom stock opened at $414.14 on Monday. The stock has a market cap of $1.96 trillion, a P/E ratio of 80.89, a P/E/G ratio of 0.86 and a beta of 1.43. The stock's 50 day simple moving average is $373.30 and its 200-day simple moving average is $356.05. Broadcom Inc. has a 1-year low of $226.18 and a 1-year high of $442.36. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.90 and a quick ratio of 1.73.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its earnings results on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 earnings per share for the quarter, topping the consensus estimate of $2.03 by $0.02. The business had revenue of $19.31 billion for the quarter, compared to analysts' expectations of $19.10 billion. Broadcom had a return on equity of 38.61% and a net margin of 36.57%.The business's revenue for the quarter was up 29.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.60 EPS. Analysts predict that Broadcom Inc. will post 9.91 EPS for the current fiscal year.

Broadcom Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Monday, March 23rd were issued a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 0.6%. The ex-dividend date was Monday, March 23rd. Broadcom's payout ratio is presently 50.78%.

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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