Broadcom Inc. $AVGO Stock Position Reduced by Azimuth Capital Investment Management LLC

Azimuth Capital Investment Management LLC lessened its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 1.2% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 248,796 shares of the semiconductor manufacturer's stock after selling 3,045 shares during the quarter. Broadcom accounts for about 3.2% of Azimuth Capital Investment Management LLC's holdings, making the stock its 3rd biggest position. Azimuth Capital Investment Management LLC's holdings in Broadcom were worth $93,983,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Fullerton Advisors LLC raised its holdings in shares of Broadcom by 1.3% during the first quarter. Fullerton Advisors LLC now owns 1,989 shares of the semiconductor manufacturer's stock worth $616,000 after acquiring an additional 25 shares in the last quarter. NORTHSTAR ASSET MANAGEMENT Co raised its stake in shares of Broadcom by 0.5% during the 1st quarter. NORTHSTAR ASSET MANAGEMENT Co now owns 5,350 shares of the semiconductor manufacturer's stock worth $1,656,000 after purchasing an additional 25 shares in the last quarter. RFG Holdings Inc. lifted its holdings in shares of Broadcom by 0.3% during the 1st quarter. RFG Holdings Inc. now owns 8,499 shares of the semiconductor manufacturer's stock valued at $2,631,000 after buying an additional 26 shares during the last quarter. Yukon Wealth Management Inc. grew its stake in shares of Broadcom by 1.1% in the 1st quarter. Yukon Wealth Management Inc. now owns 2,501 shares of the semiconductor manufacturer's stock valued at $774,000 after buying an additional 26 shares in the last quarter. Finally, NerdWallet Wealth Partners LLC grew its stake in shares of Broadcom by 2.6% in the 2nd quarter. NerdWallet Wealth Partners LLC now owns 1,057 shares of the semiconductor manufacturer's stock valued at $399,000 after buying an additional 27 shares in the last quarter. Hedge funds and other institutional investors own 76.43% of the company's stock.

Key Headlines Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom remains a favored way to gain exposure to AI while receiving dividend income. Its custom AI-chip business is expected to continue expanding rapidly as hyperscalers and AI companies build additional computing capacity. 3 Stocks That Offer AI Exposure and Dividends
• Positive Sentiment: CEO Hock Tan reportedly said demand already exceeds Broadcom’s $115 billion AI forecast, with AI revenue projected to double in fiscal 2027 and again in 2028. Accelerating shipments of Ironwood chips to Anthropic could further strengthen Broadcom’s custom-hardware opportunity. Broadcom CEO Hock Tan Says Demand Already Exceeds Broadcom’s $115 Billion AI Forecast
• Positive Sentiment: Mizuho analyst Vijay Rakesh expects AVGO to rally toward a new all-time high over the next 12 months, supporting the longer-term bullish case despite recent weakness. Wall Street Sets Broadcom Stock Price for the Next 12 Months
• Neutral Sentiment: Analyst commentary remains divided: Broadcom is viewed as a major beneficiary of AI demand, but Vertiv is considered better positioned on valuation, earnings momentum and near-term upside. Vertiv vs. Broadcom: Which AI Infrastructure Stock Has More Upside?
• Negative Sentiment: Investors are questioning whether AI spending can maintain its current pace. Broadcom also faces concerns about elevated valuation, customer concentration, margins and execution, while reports cite a failure to meet Wall Street’s fiscal fourth-quarter revenue expectations. Marvell Falls as AI Pacing Debate Collides With Fed Week

Broadcom Stock Down 4.8%

Shares of AVGO opened at $344.72 on Tuesday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.29 and a current ratio of 2.50. The company has a 50-day simple moving average of $382.45 and a 200-day simple moving average of $378.79. Broadcom Inc. has a 52 week low of $289.96 and a 52 week high of $495.00. The firm has a market capitalization of $1.65 trillion, a P/E ratio of 44.03 and a beta of 1.44.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its quarterly earnings results on Wednesday, September 2nd. The semiconductor manufacturer reported $3.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.22 by $0.10. The firm had revenue of $29.59 billion for the quarter, compared to analyst estimates of $29.24 billion. Broadcom had a return on equity of 48.33% and a net margin of 42.94%.The company's quarterly revenue was up 85.5% compared to the same quarter last year. During the same period in the previous year, the company posted $1.69 earnings per share. On average, equities research analysts expect that Broadcom Inc. will post 10.36 earnings per share for the current year.

Broadcom Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Monday, September 21st will be given a dividend of $0.65 per share. The ex-dividend date is Monday, September 21st. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.8%. Broadcom's payout ratio is currently 33.21%.

Wall Street Analysts Forecast Growth

AVGO has been the subject of a number of analyst reports. Dbs Bank upgraded shares of Broadcom to a "moderate buy" rating in a research note on Thursday, June 18th. Evercore set a $578.00 price target on shares of Broadcom in a research note on Thursday, September 3rd. Benchmark raised their price target on shares of Broadcom from $485.00 to $545.00 and gave the company a "buy" rating in a report on Thursday, June 4th. Lake Street Capital raised shares of Broadcom to a "buy" rating in a research note on Thursday, September 3rd. Finally, Raymond James Financial reiterated an "outperform" rating and issued a $475.00 price objective (up from $450.00) on shares of Broadcom in a report on Thursday, September 3rd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $509.04.

Insider Activity at Broadcom

In related news, Director Justine Page sold 1,602 shares of the firm's stock in a transaction on Monday, June 29th. The stock was sold at an average price of $373.86, for a total value of $598,923.72. Following the completion of the transaction, the director directly owned 17,426 shares of the company's stock, valued at $6,514,884.36. This trade represents a 8.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gayla Delly sold 1,890 shares of the stock in a transaction dated Wednesday, July 8th. The stock was sold at an average price of $385.38, for a total transaction of $728,368.20. Following the completion of the transaction, the director directly owned 31,326 shares of the company's stock, valued at $12,072,413.88. This trade represents a 5.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 58,317 shares of company stock worth $22,745,733. 1.90% of the stock is owned by corporate insiders.

Broadcom Company Profile

Broadcom Inc NASDAQ: AVGO designs, develops and supplies semiconductor and infrastructure software products for businesses, telecommunications providers and other organizations worldwide. Its semiconductor portfolio includes networking and connectivity components, custom application-specific integrated circuits, broadband and wireless communications products, storage adapters, optical components, and industrial solutions.

The company also provides enterprise infrastructure software through businesses including VMware, which offers virtualization and private- and hybrid-cloud solutions; mainframe and enterprise software; and cybersecurity products.

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