Deltec Asset Management LLC Sells 14,172 Shares of Broadcom Inc. $AVGO

Key Points

• Deltec Asset Management reduced its Broadcom stake by 13.2% in the first quarter, selling 14,172 shares. After the sale, it still held 93,400 shares worth about $28.9 million, making Broadcom its third-largest position.
• Analysts remain bullish on Broadcom’s AI-driven growth, especially around custom AI silicon demand and the company’s OpenAI-related “Jalapeño” accelerator partnership. Several firms recently raised price targets, and the consensus rating is still Moderate Buy.
• Broadcom continues to show strong fundamentals, with its latest quarter beating earnings and revenue estimates as revenue rose 47.9% year over year. However, the stock is still below its recent highs and has seen some insider selling, which may be pressuring sentiment.

Deltec Asset Management LLC cut its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 13.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 93,400 shares of the semiconductor manufacturer's stock after selling 14,172 shares during the quarter. Broadcom comprises 5.3% of Deltec Asset Management LLC's portfolio, making the stock its 3rd biggest position. Deltec Asset Management LLC's holdings in Broadcom were worth $28,908,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of AVGO. Fullerton Advisors LLC increased its position 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 purchasing an additional 25 shares in the last quarter. NORTHSTAR ASSET MANAGEMENT Co lifted its position in Broadcom by 0.5% during the first quarter. NORTHSTAR ASSET MANAGEMENT Co now owns 5,350 shares of the semiconductor manufacturer's stock valued at $1,656,000 after buying an additional 25 shares in the last quarter. RFG Holdings Inc. grew its stake in Broadcom by 0.3% during the first quarter. RFG Holdings Inc. now owns 8,499 shares of the semiconductor manufacturer's stock worth $2,631,000 after buying an additional 26 shares during the period. Baring Financial LLC grew its stake in Broadcom by 2.2% during the fourth quarter. Baring Financial LLC now owns 1,359 shares of the semiconductor manufacturer's stock worth $470,000 after buying an additional 29 shares during the period. Finally, Five Oceans Advisors increased its position in shares of Broadcom by 0.4% in the fourth quarter. Five Oceans Advisors now owns 8,191 shares of the semiconductor manufacturer's stock worth $2,835,000 after acquiring an additional 29 shares in the last quarter. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Broadcom News Summary

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: JPMorgan, UBS, Jefferies and other analysts remain constructive on Broadcom’s AI-driven growth, with price targets well above current levels and continued optimism around custom AI silicon demand, including exposure to customers such as OpenAI and Anthropic. UBS Reaffirms Buy Rating on Broadcom (AVGO) Amid AI ASIC Demand and OpenAI, Anthropic Growth
• Positive Sentiment: Articles highlighting Broadcom’s partnership with OpenAI on the “Jalapeño” AI accelerator reinforce the market’s bullish view that AI infrastructure can keep driving revenue growth. What Broadcom (AVGO)'s Jalapeño AI Accelerator Partnership With OpenAI Means For Shareholders
• Neutral Sentiment: Several recent write-ups argue Broadcom may be attractive after its pullback, but they mostly restate the same long-term thesis rather than pointing to a new catalyst. Why Broadcom Stock Slumped Today
• Neutral Sentiment: Investors continue to search for clues on whether Broadcom can rebound from its post-earnings decline, with coverage focusing on earnings estimates and fair-value changes. Broadcom (AVGO) Stock Gets Fair Value Boost As Analysts Split On AI Outlook
• Negative Sentiment: Director Justine Page sold 1,602 shares of Broadcom stock, extending insider-selling headlines that can weigh on sentiment even if the sale is relatively small versus the company’s size. SEC Form 4 filing for Justine Page sale
• Negative Sentiment: Broadcom remains about 14% below its last earnings report level, and recent commentary suggests investors are still uneasy about whether the company’s strong results were enough to justify its premium valuation. Broadcom Inc. (AVGO) Down 14% Since Last Earnings Report: Can It Rebound?

Insider Activity at Broadcom

In related news, Director Harry L. You purchased 1,000 shares of the firm's stock in a transaction dated Thursday, June 11th. The stock was acquired at an average price of $373.57 per share, with a total value of $373,570.00. Following the completion of the transaction, the director owned 38,466 shares of the company's stock, valued at $14,369,743.62. This represents a 2.67% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Justine Page sold 2,018 shares of Broadcom stock in a transaction on Wednesday, April 8th. The stock was sold at an average price of $353.00, for a total transaction of $712,354.00. Following the completion of the sale, the director owned 18,164 shares of the company's stock, valued at approximately $6,411,892. This trade represents a 10.00% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 60,987 shares of company stock worth $21,899,980. 1.90% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts recently weighed in on AVGO shares. Dbs Bank upgraded shares of Broadcom to a "moderate buy" rating in a report on Thursday, June 18th. JPMorgan Chase & Co. increased their price target on Broadcom from $500.00 to $580.00 and gave the company an "overweight" rating in a report on Thursday, June 4th. Cantor Fitzgerald reissued an "overweight" rating and issued a $525.00 price objective on shares of Broadcom in a research report on Thursday, June 4th. Mizuho boosted their price objective on Broadcom from $480.00 to $530.00 and gave the stock an "outperform" rating in a research note on Thursday, June 4th. Finally, Susquehanna reaffirmed a "positive" rating and issued a $490.00 target price (up from $450.00) on shares of Broadcom in a research report on Thursday, May 28th. One analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $493.24.

Broadcom Stock Performance

Broadcom stock opened at $360.45 on Monday. Broadcom Inc. has a 12-month low of $269.58 and a 12-month high of $495.00. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.24 and a quick ratio of 2.01. The company has a market capitalization of $1.71 trillion, a price-to-earnings ratio of 60.08, a price-to-earnings-growth ratio of 0.63 and a beta of 1.45. The firm's fifty day moving average price is $407.92 and its 200 day moving average price is $362.49.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its earnings results 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 return on equity of 41.61% and a net margin of 38.85%.The company had revenue of $22.19 billion during the quarter, compared to the consensus estimate of $22.13 billion. During the same period last year, the firm earned $1.58 earnings per share. The company's revenue was up 47.9% on a year-over-year basis. On average, research analysts forecast that Broadcom Inc. will post 10.24 EPS for the current fiscal year.

Broadcom Dividend Announcement

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