State of New Jersey Common Pension Fund D Decreases Position in Broadcom Inc. $AVGO

Key Points

• The State of New Jersey Common Pension Fund D reduced its holdings in Broadcom Inc. by 7.9%, owning 1,498,407 shares, which represent 1.1% of its portfolio.
• Multiple institutional investors, including Banco Bilbao Vizcaya Argentaria and PARUS FINANCE UK Ltd, have either increased their stakes significantly or reduced their positions in Broadcom in recent quarters.
• Analysts have raised their price targets for Broadcom, with the current consensus rating classified as "Buy" and a target price of $295.96.

State of New Jersey Common Pension Fund D lowered its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 7.9% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,498,407 shares of the semiconductor manufacturer's stock after selling 129,046 shares during the quarter. Broadcom accounts for 1.1% of State of New Jersey Common Pension Fund D's holdings, making the stock its 12th largest holding. State of New Jersey Common Pension Fund D's holdings in Broadcom were worth $250,878,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of AVGO. Banco Bilbao Vizcaya Argentaria S.A. boosted its holdings in Broadcom by 3.8% during the 4th quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 515,388 shares of the semiconductor manufacturer's stock valued at $120,070,000 after acquiring an additional 18,845 shares during the period. PARUS FINANCE UK Ltd boosted its stake in shares of Broadcom by 175.3% in the first quarter. PARUS FINANCE UK Ltd now owns 100,578 shares of the semiconductor manufacturer's stock valued at $16,840,000 after purchasing an additional 64,038 shares during the period. Nebula Research & Development LLC grew its holdings in shares of Broadcom by 1,100.8% in the fourth quarter. Nebula Research & Development LLC now owns 15,707 shares of the semiconductor manufacturer's stock valued at $3,642,000 after purchasing an additional 14,399 shares in the last quarter. Keener Financial Planning LLC increased its stake in Broadcom by 34.8% during the 1st quarter. Keener Financial Planning LLC now owns 890 shares of the semiconductor manufacturer's stock worth $149,000 after buying an additional 230 shares during the period. Finally, Diversify Wealth Management LLC boosted its position in Broadcom by 5.6% in the 1st quarter. Diversify Wealth Management LLC now owns 38,016 shares of the semiconductor manufacturer's stock valued at $6,365,000 after buying an additional 2,016 shares during the period. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Broadcom

In related news, CEO Hock E. Tan sold 117,758 shares of the company's stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $252.91, for a total transaction of $29,782,175.78. Following the transaction, the chief executive officer owned 1,014,152 shares of the company's stock, valued at $256,489,182.32. This represents a 10.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Henry Samueli sold 473,898 shares of the firm's stock in a transaction on Wednesday, June 25th. The shares were sold at an average price of $265.33, for a total value of $125,739,356.34. Following the completion of the sale, the director directly owned 38,188,575 shares of the company's stock, valued at approximately $10,132,574,604.75. This trade represents a 1.23% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 830,516 shares of company stock valued at $217,286,457. Insiders own 2.00% of the company's stock.

Broadcom Stock Performance

Shares of AVGO traded down $8.9770 during mid-day trading on Tuesday, hitting $296.7830. 7,947,747 shares of the company's stock were exchanged, compared to its average volume of 26,039,363. The company has a current ratio of 1.08, a quick ratio of 0.98 and a debt-to-equity ratio of 0.89. Broadcom Inc. has a fifty-two week low of $134.90 and a fifty-two week high of $317.35. The business's 50 day moving average is $279.50 and its two-hundred day moving average is $230.48. The firm has a market capitalization of $1.40 trillion, a P/E ratio of 111.26, a P/E/G ratio of 2.18 and a beta of 1.15.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its quarterly earnings data on Thursday, June 5th. The semiconductor manufacturer reported $1.58 EPS for the quarter, beating the consensus estimate of $1.57 by $0.01. Broadcom had a return on equity of 35.49% and a net margin of 22.64%.The firm had revenue of $15 billion during the quarter, compared to the consensus estimate of $14.98 billion. During the same period in the prior year, the business earned $10.96 EPS. The firm's revenue was up 20.2% compared to the same quarter last year. Broadcom has set its Q3 2025 guidance at EPS. On average, equities analysts expect that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 20th were issued a $0.59 dividend. The ex-dividend date of this dividend was Friday, June 20th. This represents a $2.36 annualized dividend and a dividend yield of 0.8%. Broadcom's payout ratio is presently 88.39%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Cowen reiterated a "buy" rating on shares of Broadcom in a research note on Friday, June 6th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $300.00 price target on shares of Broadcom in a research report on Friday, June 6th. Morgan Stanley set a $338.00 price objective on Broadcom and gave the stock an "overweight" rating in a research report on Wednesday, July 30th. Susquehanna raised their target price on shares of Broadcom from $280.00 to $300.00 and gave the company a "positive" rating in a report on Friday, June 6th. Finally, Redburn Atlantic started coverage on shares of Broadcom in a research note on Wednesday, May 28th. They issued a "buy" rating and a $301.00 price target for the company. Three analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $295.96.

Broadcom Company Profile

Broadcom Inc designs, develops, and supplies various semiconductor devices with a focus on complex digital and mixed signal complementary metal oxide semiconductor based devices and analog III-V based products worldwide. The company operates in two segments, Semiconductor Solutions and Infrastructure Software.