Conning Inc. Has $10.72 Million Stock Position in Broadcom Inc. $AVGO

Conning Inc. trimmed its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 7.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 34,631 shares of the semiconductor manufacturer's stock after selling 2,636 shares during the period. Conning Inc.'s holdings in Broadcom were worth $10,719,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in AVGO. Brighton Jones LLC grew its position in Broadcom by 21.8% in the fourth quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer's stock valued at $6,882,000 after purchasing an additional 5,322 shares in the last quarter. Revolve Wealth Partners LLC increased its position in Broadcom by 10.4% during the fourth quarter. Revolve Wealth Partners LLC now owns 7,997 shares of the semiconductor manufacturer's stock worth $1,854,000 after buying an additional 756 shares during the last quarter. United Bank increased its holdings in shares of Broadcom by 76.5% during the 1st quarter. United Bank now owns 2,339 shares of the semiconductor manufacturer's stock worth $392,000 after acquiring an additional 1,014 shares during the last quarter. Sivia Capital Partners LLC increased its holdings in shares of Broadcom by 10.1% in the second quarter. Sivia Capital Partners LLC now owns 12,693 shares of the semiconductor manufacturer's stock valued at $3,499,000 after purchasing an additional 1,160 shares during the last quarter. Finally, Capital & Planning LLC raised its holdings in Broadcom by 10.5% in the 2nd quarter. Capital & Planning LLC now owns 3,983 shares of the semiconductor manufacturer's stock valued at $1,098,000 after acquiring an additional 378 shares during the period. Institutional investors own 76.43% of the company's stock.

Broadcom Stock Performance

Shares of AVGO stock opened at $389.11 on Wednesday. The company has a quick ratio of 2.01, a current ratio of 2.24 and a debt-to-equity ratio of 0.71. The company has a market cap of $1.85 trillion, a price-to-earnings ratio of 64.85, a price-to-earnings-growth ratio of 0.67 and a beta of 1.45. The firm has a 50 day moving average of $403.86 and a 200-day moving average of $364.80. Broadcom Inc. has a 52 week low of $273.00 and a 52 week high of $495.00.

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, beating the consensus estimate of $2.40 by $0.04. Broadcom had a net margin of 38.85% and a return on equity of 41.61%. The firm had revenue of $22.19 billion for the quarter, compared to analyst estimates of $22.13 billion. During the same quarter in the prior year, the business earned $1.58 earnings per share. The business's quarterly revenue was up 47.9% compared to the same quarter last year. On average, equities analysts forecast that Broadcom Inc. will post 10.24 earnings per share for the current year.

Broadcom Dividend Announcement

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

Analyst Ratings Changes

Several research analysts have weighed in on AVGO shares. UBS Group set a $485.00 price objective on Broadcom and gave the stock a "buy" rating in a research report on Thursday, June 4th. Mizuho boosted their price objective on shares of Broadcom from $480.00 to $530.00 and gave the company an "outperform" rating in a research report on Thursday, June 4th. Citigroup reissued a "buy" rating on shares of Broadcom in a research note on Thursday, June 4th. DA Davidson increased their price target on Broadcom from $375.00 to $400.00 and gave the company a "neutral" rating in a research note on Thursday, June 4th. Finally, Zacks Research downgraded shares of Broadcom from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 21st. One investment analyst has rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $493.24.

Insider Buying and Selling

In other news, Director Gayla J. Delly sold 1,890 shares of the stock in a transaction that occurred on Wednesday, July 8th. The stock was sold at an average price of $385.38, for a total value of $728,368.20. Following the completion of the sale, the director directly owned 31,326 shares of the company's stock, valued at $12,072,413.88. This represents a 5.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Justine Page sold 1,602 shares of the stock in a transaction on Monday, June 29th. The shares were sold at an average price of $373.86, for a total value of $598,923.72. Following the completion of the sale, the director directly owned 17,426 shares of the company's stock, valued at $6,514,884.36. The trade was a 8.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 61,644 shares of company stock valued at $24,016,214. Company insiders own 1.90% of the company's stock.

Key Headlines Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Evercore ISI said Broadcom’s multiyear agreement with Apple is strategically positive, as it strengthens Apple’s AI compute silicon efforts and extends Broadcom’s role as a key custom-chip partner. Broadcom Inc. (AVGO) Agreement a Strategic Positive for Apple, says Evercore ISI
• Positive Sentiment: Reports say Broadcom secured its role as a key Apple supplier through 2031, giving investors more confidence in a long-duration revenue stream. Broadcom Inc. (AVGO) Secures Role as Key Apple Supplier with Chip Deal through 2031
• Positive Sentiment: Morgan Stanley described Broadcom as a “core AI winner,” keeping the stock in focus as one of the main beneficiaries of AI infrastructure spending. Broadcom is a 'core AI winner,' even as MediaTek encroaches, Morgan Stanley says
• Neutral Sentiment: Additional commentary highlighted Broadcom as a major AI stock and a possible outperformer versus other chip names, which adds to the bullish narrative but does not change the near-term business outlook directly. Is Broadcom Inc. (AVGO) a Buy as Wall Street Analysts Look Optimistic?
• Negative Sentiment: There was also an insider-selling headline, which can weigh on sentiment even if it does not necessarily reflect a change in the company’s fundamentals. Insider Selling: Broadcom NASDAQ: AVGO Insider Sells $9,479,750.00 in Stock

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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