Broadcom Inc. $AVGO Stock Holdings Decreased by Sumitomo Mitsui Trust Group Inc.

Key Points

• Sumitomo Mitsui Trust Group Inc. reduced its Broadcom stake by 4.0% in the first quarter, selling 467,949 shares and still holding 11.1 million shares worth about $3.44 billion.
• Broadcom continues to benefit from strong AI-related momentum and a more than $30 billion Apple agreement through 2031, which adds revenue visibility beyond its AI chip business.
• The stock has strong Wall Street support, with analysts generally rating it Moderate Buy, though some recent coverage has raised valuation concerns after the rally.

Sumitomo Mitsui Trust Group Inc. lowered its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 4.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,116,332 shares of the semiconductor manufacturer's stock after selling 467,949 shares during the quarter. Broadcom accounts for about 2.2% of Sumitomo Mitsui Trust Group Inc.'s holdings, making the stock its 7th largest position. Sumitomo Mitsui Trust Group Inc. owned approximately 0.23% of Broadcom worth $3,440,616,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. ROSS JOHNSON & Associates LLC raised its stake in Broadcom by 1,320.0% during 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. Networth Advisors LLC boosted its position in shares of Broadcom by 546.2% in the first quarter. Networth Advisors LLC now owns 84 shares of the semiconductor manufacturer's stock worth $26,000 after buying an additional 71 shares during the period. SWAN Capital LLC grew its holdings in shares of Broadcom by 261.9% during the fourth quarter. SWAN Capital LLC now owns 76 shares of the semiconductor manufacturer's stock valued at $26,000 after buying an additional 55 shares in the last quarter. Miller Global Investments LLC purchased a new position in shares of Broadcom during the fourth quarter valued at $31,000. Finally, Nvest Wealth Strategies Inc. acquired a new position in Broadcom during the fourth quarter valued at $33,000. Hedge funds and other institutional investors own 76.43% of the company's stock.

Broadcom News Roundup

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom’s expanded Apple agreement, valued at more than $30 billion through 2031, strengthens visibility for revenue and highlights demand beyond AI chips. Why Broadcom Stock Rose Today
• Positive Sentiment: Analysts remain upbeat on Broadcom’s AI business, with Jefferies reiterating a Buy rating and a $550 price target as AI chip momentum improves. Broadcom’s (AVGO) AI Chip Momentum Keeps Wall Street Bullish
• Positive Sentiment: Broadcom is being viewed as a broader AI infrastructure winner because its networking products help connect large-scale AI systems, expanding the investment thesis beyond GPUs and custom chips. Broadcom stock's latest catalyst targets Nvidia where it looks strongest
• Neutral Sentiment: Some coverage notes Broadcom’s near-$2 trillion market value and strong AI revenue growth, but also suggests much of the good news may already be reflected in the stock. Broadcom Is Less Than 5% From the $2 Trillion Club -- and Apple Just Committed $30 Billion for More Chips
• Negative Sentiment: Erste Group downgraded Broadcom to Hold, citing valuation concerns, which may be limiting upside after the recent rally. Erste Group downgrades Broadcom to Hold citing valuation concerns

Broadcom Price Performance

AVGO opened at $399.97 on Monday. The company has a market capitalization of $1.90 trillion, a PE ratio of 66.66, a price-to-earnings-growth ratio of 0.70 and a beta of 1.45. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.24 and a quick ratio of 2.01. Broadcom Inc. has a fifty-two week low of $269.58 and a fifty-two week high of $495.00. The business has a 50-day moving average of $405.29 and a 200-day moving average of $364.28.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its quarterly earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 EPS for the quarter, beating the consensus estimate of $2.40 by $0.04. Broadcom had a return on equity of 41.61% and a net margin of 38.85%.The business 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 business posted $1.58 EPS. The firm's quarterly revenue was up 47.9% compared to the same quarter last year. Equities research analysts forecast that Broadcom Inc. will post 10.24 EPS for the current fiscal year.

Broadcom Announces Dividend

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

Insider Buying and Selling at Broadcom

In other news, Director Justine Page sold 1,602 shares of the firm's stock in a transaction on Monday, June 29th. The shares were sold at an average price of $373.86, for a total transaction of $598,923.72. Following the transaction, the director owned 17,426 shares in the company, valued at approximately $6,514,884.36. This trade represents a 8.42% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Harry L. You acquired 1,000 shares of Broadcom stock in a transaction that occurred on Thursday, June 11th. The stock was acquired at an average cost of $373.57 per share, with a total value of $373,570.00. Following the purchase, the director owned 38,466 shares in the company, valued at $14,369,743.62. The trade was a 2.67% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders have sold 36,644 shares of company stock worth $13,982,964. Company insiders own 1.90% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on AVGO. Dbs Bank raised Broadcom to a "moderate buy" rating in a research note on Thursday, June 18th. Royal Bank Of Canada lifted their target price on Broadcom from $360.00 to $400.00 and gave the company a "sector perform" rating in a research note on Thursday, June 4th. TD Cowen reiterated a "buy" rating and issued a $500.00 target price on shares of Broadcom in a report on Thursday, June 4th. Seaport Research Partners reissued a "neutral" rating on shares of Broadcom in a research report on Wednesday, April 8th. Finally, Rosenblatt Securities restated a "buy" rating and set a $500.00 price target on shares of Broadcom in a report on Thursday, June 4th. One investment 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 stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $493.24.

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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