Broadcom Inc. $AVGO Shares Sold by Union Bancaire Privee UBP SA

Key Points

• Union Bancaire Privee UBP SA trimmed its Broadcom stake by 4.8% in the first quarter, selling 32,447 shares and leaving it with 648,497 shares worth about $198.2 million. Broadcom remains a top holding, representing 3.4% of the firm’s portfolio.
• Broadcom’s recent earnings beat expectations, reporting $2.44 EPS versus the $2.40 consensus and revenue of $22.19 billion, up 47.9% year over year. Analysts now expect $10.24 EPS for the current fiscal year.
• Sentiment remains mixed but constructive: analysts mostly maintain bullish ratings and several raised price targets, while insiders and some institutions have sold shares recently. Broadcom also paid a quarterly dividend of $0.65 per share, or $2.60 annualized.

Union Bancaire Privee UBP SA lessened its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 4.8% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 648,497 shares of the semiconductor manufacturer's stock after selling 32,447 shares during the quarter. Broadcom accounts for approximately 3.4% of Union Bancaire Privee UBP SA's investment portfolio, making the stock its 7th biggest position. Union Bancaire Privee UBP SA's holdings in Broadcom were worth $198,245,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. ROSS JOHNSON & Associates LLC boosted its holdings in Broadcom by 1,320.0% in the 4th quarter. ROSS JOHNSON & Associates LLC now owns 71 shares of the semiconductor manufacturer's stock valued at $25,000 after purchasing an additional 66 shares during the period. SWAN Capital LLC grew its position in shares of Broadcom by 261.9% during the 4th quarter. SWAN Capital LLC now owns 76 shares of the semiconductor manufacturer's stock worth $26,000 after purchasing an additional 55 shares in the last quarter. Miller Global Investments LLC bought a new position in shares of Broadcom during the fourth quarter worth approximately $31,000. Nvest Wealth Strategies Inc. bought a new position in shares of Broadcom during the fourth quarter worth approximately $33,000. Finally, Family CFO Inc acquired a new stake in shares of Broadcom in the fourth quarter valued at approximately $35,000. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Broadcom Trading Up 1.4%

Shares of AVGO stock opened at $377.75 on Wednesday. Broadcom Inc. has a fifty-two week low of $262.66 and a fifty-two week high of $495.00. The stock's fifty day moving average price is $410.61 and its two-hundred day moving average price is $362.60. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.01 and a current ratio of 2.24. The company has a market cap of $1.80 trillion, a PE ratio of 62.96, a P/E/G ratio of 0.65 and a beta of 1.41.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its quarterly earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 EPS for the quarter, topping analysts' consensus estimates of $2.40 by $0.04. Broadcom had a return on equity of 41.61% and a net margin of 38.85%.The company had revenue of $22.19 billion during the quarter, compared to analysts' expectations of $22.13 billion. During the same quarter in the previous year, the firm earned $1.58 EPS. Broadcom's revenue was up 47.9% on a year-over-year basis. Equities analysts predict that Broadcom Inc. will post 10.24 EPS for the current fiscal year.

Broadcom Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 22nd were issued a $0.65 dividend. The ex-dividend date of this dividend was Monday, June 22nd. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.7%. Broadcom's dividend payout ratio is 43.33%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Zacks Research cut Broadcom from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 21st. Evercore restated an "outperform" rating and set a $582.00 price objective on shares of Broadcom in a research note on Tuesday, May 19th. Wall Street Zen raised Broadcom from a "buy" rating to a "strong-buy" rating in a report on Wednesday. Erste Group Bank upgraded Broadcom from a "hold" rating to a "buy" rating in a research report on Friday, June 5th. Finally, Oppenheimer reissued an "outperform" rating and set a $535.00 target price (up from $450.00) on shares of Broadcom in a report on Thursday, June 4th. One research analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and three 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 target price of $493.24.

Insider Buying and Selling

In related news, insider S. Ram Velaga sold 8,000 shares of Broadcom stock in a transaction that occurred on Friday, April 10th. The shares were sold at an average price of $370.52, for a total transaction of $2,964,160.00. Following the sale, the insider directly owned 57,932 shares of the company's stock, valued at approximately $21,464,964.64. The trade was a 12.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Mark David Brazeal sold 4,825 shares of the stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $394.91, for a total transaction of $1,905,440.75. Following the completion of the transaction, the insider directly owned 269,989 shares of the company's stock, valued at approximately $106,621,355.99. The trade was a 1.76% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 59,385 shares of company stock worth $21,301,057 in the last quarter. Corporate insiders own 1.90% of the company's stock.

More Broadcom News

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Jefferies reiterated its Buy rating on Broadcom and kept a $550 price target, suggesting substantial upside from current levels. Analyst updates Broadcom (AVGO) stock price target
• Positive Sentiment: Erste Group raised its earnings estimates for Broadcom, including higher FY2026 and FY2027 EPS forecasts, reinforcing the view that earnings growth remains strong. Broadcom estimate update
• Positive Sentiment: Coverage around Broadcom’s partnership with OpenAI on the Jalapeño AI accelerator continues to support the company’s AI growth story and long-term demand outlook. What Broadcom (AVGO)'s Jalapeño AI Accelerator Partnership With OpenAI Means For Shareholders
• Neutral Sentiment: Several articles highlighted Broadcom’s recent weakness and “buy the dip” debate, indicating that investor sentiment is cautious but not turning bearish on fundamentals. Broadcom's Stock Has Slumped Over 20% From Its Highs. These Experts Say They Would Buy the Dip
• Negative Sentiment: Reports of heavy insider selling over the past two weeks may weigh on sentiment, as investors often view large insider sales as a cautionary signal. Monster insider trading alert for Broadcom (AVGO) stock

Broadcom Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.