Carnegie Investment Counsel Sells 37,295 Shares of Broadcom Inc. $AVGO

Key Points

• Carnegie Investment Counsel sold 37,295 shares of Broadcom, cutting its stake by 9.6% to 351,598 shares (worth $121,688,000), making AVGO ~2.2% of the fund and its 6th largest holding.
• Broadcom has secured multi‑year AI partnerships — notably an extended Meta tie‑up through at least 2029 with an initial >1GW custom compute commitment and reported deals with Google and Anthropic — boosting multi‑year AI revenue visibility and driving analyst upgrades.
• Insider selling has been substantial recently, with insiders offloading 324,282 shares valued at about $106.4M over the past 90 days (insiders now own 1.90%), a factor that could weigh on near‑term sentiment amid concentration and competitive risks.

Carnegie Investment Counsel cut its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 9.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 351,598 shares of the semiconductor manufacturer's stock after selling 37,295 shares during the period. Broadcom accounts for about 2.2% of Carnegie Investment Counsel's investment portfolio, making the stock its 6th biggest position. Carnegie Investment Counsel's holdings in Broadcom were worth $121,688,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. Providence First Trust Co boosted its holdings in Broadcom by 1,099.3% in the third quarter. Providence First Trust Co now owns 8,923 shares of the semiconductor manufacturer's stock valued at $2,944,000 after acquiring an additional 8,179 shares during the last quarter. Whittier Trust Co. of Nevada Inc. grew its position in shares of Broadcom by 3.4% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 323,587 shares of the semiconductor manufacturer's stock worth $109,492,000 after buying an additional 10,786 shares during the period. Lmcg Investments LLC increased its stake in shares of Broadcom by 9.4% in the 3rd quarter. Lmcg Investments LLC now owns 38,961 shares of the semiconductor manufacturer's stock valued at $12,854,000 after acquiring an additional 3,357 shares during the last quarter. Wright Investors Service Inc. increased its stake in shares of Broadcom by 5.4% in the 3rd quarter. Wright Investors Service Inc. now owns 42,159 shares of the semiconductor manufacturer's stock valued at $13,909,000 after acquiring an additional 2,178 shares during the last quarter. Finally, Brown Brothers Harriman & Co. raised its position in shares of Broadcom by 10.7% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 77,411 shares of the semiconductor manufacturer's stock valued at $25,539,000 after acquiring an additional 7,499 shares during the period. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Key Broadcom News

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Expanded Meta tie-up materially boosts multi‑year AI revenue visibility — Broadcom and Meta extended a multi‑generation partnership through at least 2029 to co‑develop MTIA AI accelerators and Ethernet networking, with an initial commitment of more than 1GW of custom compute capacity. AI's Cash Splash Continues: Meta Platforms and Broadcom Expand Custom Chip Partnership
• Positive Sentiment: Deals with other big AI customers broaden demand — reports that Broadcom has secured multi‑year partnerships with Google and Anthropic (and similar coverage of new customer wins) signal multi‑customer, multi‑generation demand for Broadcom’s custom accelerators and networking. Broadcom (AVGO) Stock Climbs 28% on Major AI Partnerships With Tech Giants
• Positive Sentiment: Analyst upgrades and media endorsements are amplifying buying interest — Jim Cramer and several firms have highlighted Broadcom as the key play on Meta’s chip program, and a number of brokers have raised targets, supporting momentum. Cramer says Broadcom is the real play in Meta’s chip partnership
• Neutral Sentiment: Software/AI platform moves expand TAM — Broadcom announced Tanzu Platform agent foundations for secure agentic runtimes, which supports its enterprise software strategy but is a longer‑term revenue play relative to the hyperscaler deals. Broadcom Announces Tanzu Platform Agent Foundations
• Negative Sentiment: Insider selling continues — recent filings show executives/directors trimming positions, which can weigh on near‑term sentiment despite company growth narrative. Broadcom insider selling (MarketBeat)
• Negative Sentiment: Concentration and competitive risk remain — analysts warn that heavy exposure to a few hyperscalers and fierce competition (e.g., NVIDIA and in‑house designs) could limit upside or inject volatility if sourcing/pricing dynamics shift. Broadcom Meta Chip Alliance Deepens AI Ties And Concentration Risks

Insider Activity at Broadcom

In other news, Director Justine Page sold 2,018 shares of the firm's stock in a transaction dated Wednesday, April 8th. The stock was sold at an average price of $353.00, for a total transaction of $712,354.00. Following the sale, the director owned 18,164 shares of the company's stock, valued at $6,411,892. This trade represents a 10.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Mark David Brazeal sold 50,488 shares of Broadcom stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $321.60, for a total value of $16,236,940.80. Following the completion of the sale, the insider directly owned 278,141 shares in the company, valued at approximately $89,450,145.60. This represents a 15.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 324,282 shares of company stock valued at $106,425,249 over the last 90 days. Insiders own 1.90% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on AVGO shares. JPMorgan Chase & Co. lifted their price objective on shares of Broadcom from $475.00 to $500.00 and gave the stock an "overweight" rating in a research note on Thursday, March 5th. Truist Financial increased their target price on shares of Broadcom from $510.00 to $545.00 and gave the stock a "buy" rating in a report on Thursday, March 5th. Benchmark reissued a "buy" rating and set a $485.00 price target on shares of Broadcom in a research report on Thursday, March 5th. Royal Bank Of Canada decreased their price target on shares of Broadcom from $370.00 to $340.00 and set a "sector perform" rating for the company in a report on Monday, March 2nd. Finally, Seaport Research Partners reaffirmed a "neutral" rating on shares of Broadcom in a research note on Wednesday, April 8th. Two analysts have rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $435.30.

Broadcom Trading Up 0.4%

NASDAQ AVGO opened at $398.47 on Friday. The firm has a market cap of $1.89 trillion, a P/E ratio of 77.83, a P/E/G ratio of 0.82 and a beta of 1.24. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.90 and a quick ratio of 1.73. The stock's 50-day moving average is $331.89 and its 200-day moving average is $344.53. Broadcom Inc. has a one year low of $161.61 and a one year high of $414.61.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its quarterly earnings results on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 EPS for the quarter, topping analysts' consensus estimates of $2.03 by $0.02. The company had revenue of $19.31 billion for the quarter, compared to analyst estimates of $19.10 billion. Broadcom had a return on equity of 38.61% and a net margin of 36.57%.Broadcom's revenue was up 29.5% compared to the same quarter last year. During the same quarter last year, the firm posted $1.60 earnings per share. Sell-side analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Monday, March 23rd were given a dividend of $0.65 per share. The ex-dividend date of this dividend was Monday, March 23rd. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.7%. Broadcom's dividend payout ratio (DPR) is currently 50.78%.

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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