Clough Capital Partners L P Sells 60,495 Shares of Broadcom Inc. $AVGO

Key Points

• Clough Capital Partners cut its Broadcom stake by 59.8% in the first quarter, selling 60,495 shares and retaining 40,680 shares valued at approximately $12.6 million. Institutional investors collectively own 76.43% of AVGO.
• Analysts remain broadly bullish: 28 rate Broadcom a Buy and four rate it Hold, with an average price target of $493.24. Several firms recently raised their targets, including JPMorgan to $580.
• Broadcom’s AI-related custom silicon and networking demand continues to support growth, with quarterly revenue up 47.9% year over year and earnings exceeding estimates. However, investors remain concerned about elevated valuation, potential slowdowns in hyperscaler spending, and broader fears of an AI-sector bubble.

Clough Capital Partners L P trimmed its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 59.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,680 shares of the semiconductor manufacturer's stock after selling 60,495 shares during the period. Clough Capital Partners L P's holdings in Broadcom were worth $12,591,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in AVGO. Fullerton Advisors LLC increased its stake in Broadcom by 1.3% during the 1st quarter. Fullerton Advisors LLC now owns 1,989 shares of the semiconductor manufacturer's stock worth $616,000 after acquiring an additional 25 shares during the period. NORTHSTAR ASSET MANAGEMENT Co lifted its position 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 valued at $1,656,000 after acquiring an additional 25 shares during the period. RFG Holdings Inc. lifted its position 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 acquiring an additional 26 shares during the period. Yukon Wealth Management Inc. grew its holdings in shares of Broadcom by 1.1% during the 1st quarter. Yukon Wealth Management Inc. now owns 2,501 shares of the semiconductor manufacturer's stock worth $774,000 after purchasing an additional 26 shares in the last quarter. Finally, Capital Planning LLC grew its holdings in shares of Broadcom by 0.7% during the 1st quarter. Capital Planning LLC now owns 4,044 shares of the semiconductor manufacturer's stock worth $1,252,000 after purchasing an additional 28 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors.

Trending Headlines about Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom’s custom-silicon business continues to attract demand from hyperscalers building AI infrastructure, with new client wins supporting the company’s growth outlook. Broadcom Rose on Strong Custom Silicon Demand and New Client Wins
• Positive Sentiment: Alphabet plans to spend approximately $195 billion to $205 billion on capital expenditures this year, maintaining a substantial customer opportunity for AI processors supplied by Broadcom and Nvidia. Alphabet CEO Sundar Pichai Just Made a Major Decision Affecting Nvidia and Broadcom Investors
• Positive Sentiment: J.P. Morgan said Broadcom will source most of its memory requirements from Samsung through 2030, potentially improving supply visibility as AI-related memory demand expands. Broadcom's Expanded Samsung Pact Shows AI Trade Is Still All About Memory
• Positive Sentiment: Recent investor commentary highlights Broadcom as a direct beneficiary of rising data-center infrastructure spending, with its custom silicon and networking products positioned as a way to monetize hyperscaler AI investment. I'm Buying Broadcom This Week For One Powerful Reason
• Neutral Sentiment: Broadcom has delivered strong long-term shareholder returns and recently benefited from solid quarterly results, although those gains have contributed to elevated expectations. 3 Big Reasons to Love Broadcom
• Negative Sentiment: The immediate pressure on AVGO is sector-wide: chip stocks extended their pullback as investors questioned whether the AI trade resembles a bubble, weighing on the Nasdaq and semiconductor valuations. Chip Stocks Extend Pullback Amid AI Bubble Fears
• Negative Sentiment: Investors remain concerned that hyperscaler capital-expenditure plans could slow or that Broadcom’s dependence on major customers, including Google, may limit its valuation upside. These concerns are competing with the company’s AI growth narrative. Broadcom: Why the Google Share Panic Misses What Broadcom's Moat Actually Is

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Mizuho boosted their price target on Broadcom from $480.00 to $530.00 and gave the company an "outperform" rating in a research note on Thursday, June 4th. Jefferies Financial Group set a $550.00 price objective on shares of Broadcom and gave the stock a "buy" rating in a research note on Thursday, June 4th. JPMorgan Chase & Co. increased their price objective on shares of Broadcom from $500.00 to $580.00 and gave the stock an "overweight" rating in a research note on Thursday, June 4th. Bank of America raised their target price on shares of Broadcom from $450.00 to $530.00 and gave the company a "buy" rating in a report on Thursday, June 4th. Finally, Rosenblatt Securities restated a "buy" rating and issued a $500.00 target price on shares of Broadcom in a research report on Thursday, June 4th. Twenty-eight equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $493.24.

Insider Activity at Broadcom

In related news, Director Harry L. You bought 1,000 shares of the company's stock in a transaction dated Thursday, June 11th. The stock was purchased at an average price of $373.57 per share, with a total value of $373,570.00. Following the completion of the acquisition, the director owned 38,466 shares of the company's stock, valued at $14,369,743.62. The trade was a 2.67% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gayla J. Delly sold 1,890 shares of the firm's stock in a transaction that occurred on Wednesday, July 8th. The shares were sold at an average price of $385.38, for a total transaction of $728,368.20. Following the completion of the sale, the director owned 31,326 shares in the company, valued at approximately $12,072,413.88. The trade was a 5.69% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 61,644 shares of company stock worth $24,016,214 over the last three months. 1.90% of the stock is owned by insiders.

Broadcom Price Performance

Broadcom stock opened at $380.91 on Wednesday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.01 and a current ratio of 2.24. Broadcom Inc. has a 52 week low of $281.61 and a 52 week high of $495.00. The stock has a market capitalization of $1.81 trillion, a P/E ratio of 63.49, a price-to-earnings-growth ratio of 0.73 and a beta of 1.45. The stock has a fifty day moving average of $396.06 and a 200-day moving average of $367.39.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its quarterly earnings data on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share for the quarter, topping the consensus estimate of $2.40 by $0.04. The business had revenue of $22.19 billion during the quarter, compared to the consensus estimate of $22.13 billion. Broadcom had a return on equity of 41.61% and a net margin of 38.85%.Broadcom's revenue for the quarter was up 47.9% on a year-over-year basis. During the same period in the prior year, the company earned $1.58 EPS. On average, sell-side analysts expect that Broadcom Inc. will post 10.24 earnings per share for the current fiscal year.

Broadcom Announces Dividend

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

Broadcom 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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