Broadcom Inc. $AVGO Stake Trimmed by State of New Jersey Common Pension Fund D

Key Points

• State of New Jersey Common Pension Fund D trimmed its Broadcom stake by 1.7% in Q4, selling 26,297 shares and retaining 1,531,848 shares worth about $530.17 million (≈1.9% of the fund and its 8th-largest holding).
• Analysts remain broadly constructive with a consensus rating of “Moderate Buy” and an average price target of $435.30, though recent notes diverge (e.g., Truist raised its target to $545 while Bank of America cut to $450 and Erste downgraded to hold).
• Broadcom reported a Q beat (EPS $2.05, revenue $19.31B, +29.5% YoY), pays a $0.65 quarterly dividend, but faces near-term headwinds including reports of an $18B OpenAI chip financing snag and notable insider selling (324,282 shares sold last quarter).

State of New Jersey Common Pension Fund D reduced its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 1.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,531,848 shares of the semiconductor manufacturer's stock after selling 26,297 shares during the quarter. Broadcom makes up about 1.9% of State of New Jersey Common Pension Fund D's investment portfolio, making the stock its 8th largest holding. State of New Jersey Common Pension Fund D's holdings in Broadcom were worth $530,173,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Baring Financial LLC increased its stake in Broadcom by 2.2% in the 4th quarter. Baring Financial LLC now owns 1,359 shares of the semiconductor manufacturer's stock worth $470,000 after buying an additional 29 shares in the last quarter. Five Oceans Advisors lifted its position in shares of Broadcom by 0.4% in the fourth quarter. Five Oceans Advisors now owns 8,191 shares of the semiconductor manufacturer's stock valued at $2,835,000 after acquiring an additional 29 shares in the last quarter. Jackson Hole Capital Partners LLC boosted its stake in shares of Broadcom by 1.4% in the third quarter. Jackson Hole Capital Partners LLC now owns 2,170 shares of the semiconductor manufacturer's stock worth $716,000 after acquiring an additional 30 shares during the period. Private Wealth Partners LLC boosted its stake in shares of Broadcom by 0.7% in the third quarter. Private Wealth Partners LLC now owns 4,273 shares of the semiconductor manufacturer's stock worth $1,410,000 after acquiring an additional 30 shares during the period. Finally, Planning Alternatives Ltd. ADV grew its position in shares of Broadcom by 1.4% during the third quarter. Planning Alternatives Ltd. ADV now owns 2,168 shares of the semiconductor manufacturer's stock worth $715,000 after purchasing an additional 30 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on AVGO. Truist Financial lifted their target price on Broadcom from $510.00 to $545.00 and gave the company a "buy" rating in a research note on Thursday, March 5th. Seaport Research Partners reaffirmed a "neutral" rating on shares of Broadcom in a report on Wednesday, April 8th. Bank of America reduced their price objective on shares of Broadcom from $500.00 to $450.00 and set a "buy" rating on the stock in a research report on Thursday, March 5th. Erste Group Bank downgraded shares of Broadcom from a "buy" rating to a "hold" rating in a report on Thursday, April 2nd. Finally, Wells Fargo & Company raised shares of Broadcom from an "equal weight" rating to an "overweight" rating and raised their target price for the company from $410.00 to $430.00 in a research note on Thursday, January 15th. Two research analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $435.30.

Broadcom Stock Performance

NASDAQ:AVGO opened at $412.56 on Friday. The company has a market cap of $1.95 trillion, a price-to-earnings ratio of 80.58, a PEG ratio of 0.88 and a beta of 1.43. Broadcom Inc. has a 1 year low of $203.69 and a 1 year high of $437.68. The stock's 50 day simple moving average is $352.89 and its two-hundred day simple moving average is $351.28. 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 posted its earnings results on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 EPS for the quarter, beating 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 firm had revenue of $19.31 billion during the quarter, compared to the consensus estimate of $19.10 billion. During the same period in the prior year, the company earned $1.60 EPS. The company's quarterly revenue was up 29.5% compared to the same quarter last year. As a group, equities analysts anticipate that Broadcom Inc. will post 9.95 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

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

Trending Headlines about Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Fisher Asset Management materially increased its Broadcom stake, signaling institutional confidence and providing a demand floor for the stock. Fisher Asset Management boosts Broadcom stake by 847,157 shares
• Positive Sentiment: Analyst and press coverage emphasize Broadcom’s expanding role in AI infrastructure and strong AI revenue guidance, supporting a constructive medium-term earnings outlook. How Broadcom Redefines The AI Infrastructure Play
• Positive Sentiment: Broadcom’s VMware-by-Broadcom services are gaining public‑sector distribution via a Carahsoft/evoila partnership, expanding government channel reach and recurring-services revenue potential. evoila U.S. and Carahsoft Partner to Deliver VMware by Broadcom
• Neutral Sentiment: Corning’s large optical-fiber contracts (including with Broadcom) validate continued hyperscale capex on connectivity — good for long-term TAM but not an immediate earnings swing for Broadcom. Light Speed Returns: Corning Cashes In on NVIDIA Growth (AVGO)
• Neutral Sentiment: Broadcom remains a trending/dividend-growth name in several retail and income-focused write-ups; these can support longer-term flows but are unlikely to reverse a short-term selloff. Here is What to Know Beyond Why Broadcom Inc. (AVGO) is a Trending Stock
• Negative Sentiment: The primary near-term negative: a report that Broadcom’s ~$18B custom chip deal with OpenAI has hit a major financing snag, which directly pressured the stock and raised execution/timing concerns for a core AI revenue stream. Broadcom Stock (AVGO) Slides after $18B OpenAI Custom Chip Deal Hits Major Financing Snag
• Negative Sentiment: A recent political disclosure shows a sale of AVGO shares by Senator Shelley Moore Capito; while single disclosures are often routine, they can add to short-term headline pressure. Congress Trade: Senator Shelley Moore Capito Just Disclosed New Stock Trades

Insider Buying and Selling at Broadcom

In related news, CFO Kirsten M. Spears sold 36,292 shares of the stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $321.60, for a total value 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 approximately $105,407,616. This trade represents a 9.97% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Mark David Brazeal sold 50,488 shares of Broadcom stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $321.60, for a total value of $16,236,940.80. Following the completion of the transaction, the insider owned 278,141 shares of the company's stock, valued at approximately $89,450,145.60. This represents a 15.36% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 324,282 shares of company stock valued at $106,425,249. Corporate insiders own 1.90% of the company's 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.

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