Ferguson Wellman Capital Management Inc. Sells 6,265 Shares of Broadcom Inc. $AVGO

Key Points

• Ferguson Wellman Capital Management reduced its Broadcom stake by 0.9% in the first quarter, selling 6,265 shares and leaving it with 701,065 shares valued at about $216.99 million.
• Broadcom continues to benefit from strong AI and Apple-related momentum, with recent coverage highlighting accelerating AI revenue, record bookings, and an extended Apple chip partnership through 2031.
• Fundamentals and analyst sentiment remain solid: Broadcom beat quarterly EPS and revenue estimates, raised its dividend, and Wall Street largely keeps a bullish view with an average “Moderate Buy” rating and target price near $493.

Ferguson Wellman Capital Management Inc. lessened its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 0.9% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 701,065 shares of the semiconductor manufacturer's stock after selling 6,265 shares during the quarter. Broadcom makes up about 3.0% of Ferguson Wellman Capital Management Inc.'s portfolio, making the stock its 7th biggest holding. Ferguson Wellman Capital Management Inc.'s holdings in Broadcom were worth $216,986,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in the stock. ROSS JOHNSON & Associates LLC increased its stake in shares of Broadcom by 1,320.0% during the fourth quarter. ROSS JOHNSON & Associates LLC now owns 71 shares of the semiconductor manufacturer's stock worth $25,000 after purchasing an additional 66 shares in the last quarter. SWAN Capital LLC lifted its stake in Broadcom by 261.9% in the 4th quarter. SWAN Capital LLC now owns 76 shares of the semiconductor manufacturer's stock valued at $26,000 after buying an additional 55 shares in the last quarter. Networth Advisors LLC lifted its stake in Broadcom by 546.2% in the 1st quarter. Networth Advisors LLC now owns 84 shares of the semiconductor manufacturer's stock valued at $26,000 after buying an additional 71 shares in the last quarter. Miller Global Investments LLC acquired a new stake in Broadcom in the 4th quarter worth about $31,000. Finally, Nvest Wealth Strategies Inc. acquired a new stake in Broadcom in the 4th quarter worth about $33,000. 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: Broadcom is being viewed as a major AI infrastructure winner, with recent coverage highlighting its accelerating AI revenue, record bookings, and strong customer partnerships. Snowflake vs. Broadcom: Which Enterprise AI Stock Is the Smarter Buy?
• Positive Sentiment: Wall Street commentary says Broadcom’s Apple agreement through 2031 is strategically positive and supports a durable revenue stream from custom chips and connectivity components. Why Broadcom (AVGO) Is Reinforcing Its Long-Term Growth With an Extended Apple Chip Partnership Through 2031
• Positive Sentiment: Analysts remain upbeat on Broadcom, with reports pointing to roughly 32.8% implied upside from the average price target and improving earnings estimate revisions. Wall Street Analysts See a 32.76% Upside in Broadcom Inc. (AVGO): Can the Stock Really Move This High?
• Positive Sentiment: Morgan Stanley called Broadcom a “core AI winner,” reinforcing the view that AVGO remains one of the main beneficiaries of AI spending. Broadcom is a 'core AI winner,' even as MediaTek encroaches, Morgan Stanley says
• Neutral Sentiment: Broadcom is also drawing heavy investor attention, which keeps the stock in focus but does not by itself change fundamentals. Broadcom Inc. (AVGO) Is a Trending Stock: Facts to Know Before Betting on It
• Negative Sentiment: Sentiment was tempered by reports that Broadcom executives sold shares, which can raise caution even though insider sales do not necessarily signal a business problem. Broadcom Executive Sells $10 Million in AVGO Stock. Is the Insider Sale a Warning Sign?
• Negative Sentiment: Reuters reported that five cloud business groups are urging EU regulators to suspend some Broadcom practices, adding a regulatory overhang to the name. Five cloud business groups urge EU interim measures against Broadcom

Broadcom Stock Up 1.3%

Shares of NASDAQ:AVGO opened at $394.28 on Thursday. Broadcom Inc. has a 52-week low of $273.00 and a 52-week high of $495.00. The stock has a market cap of $1.88 trillion, a P/E ratio of 65.71, a PEG ratio of 0.68 and a beta of 1.45. The business has a fifty day moving average of $403.23 and a two-hundred day moving average of $365.11. The company has a quick ratio of 2.01, a current ratio of 2.24 and a debt-to-equity ratio of 0.71.

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

Broadcom Dividend Announcement

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

Analyst Ratings Changes

A number of equities analysts have commented on the company. Jefferies Financial Group set a $550.00 target price on Broadcom and gave the company a "buy" rating in a report on Thursday, June 4th. Benchmark upped their target price on shares of Broadcom from $485.00 to $545.00 and gave the stock a "buy" rating in a report on Thursday, June 4th. The Goldman Sachs Group reiterated a "buy" rating and issued a $525.00 target price on shares of Broadcom in a research report on Thursday, June 4th. Wells Fargo & Company restated an "overweight" rating and set a $545.00 price target (up from $430.00) on shares of Broadcom in a research report on Thursday, May 14th. Finally, DA Davidson upped their price objective on shares of Broadcom from $375.00 to $400.00 and gave the company a "neutral" rating in a research note on Thursday, June 4th. One research analyst has rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, Broadcom presently has an average rating of "Moderate Buy" and an average target price of $493.24.

Insider Activity

In other news, Director Gayla J. Delly sold 1,890 shares of the stock in a transaction that occurred on Wednesday, July 8th. The shares were sold at an average price of $385.38, for a total value of $728,368.20. Following the completion of the sale, the director owned 31,326 shares of the company's stock, valued at $12,072,413.88. This represents a 5.69% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Harry L. You purchased 1,000 shares of the business's stock in a transaction dated Thursday, June 11th. The shares were purchased at an average price of $373.57 per share, with a total value of $373,570.00. Following the acquisition, the director directly owned 38,466 shares in the company, valued at approximately $14,369,743.62. The trade was a 2.67% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders sold 61,644 shares of company stock valued at $24,016,214 over the last three months. 1.90% of the stock is currently owned by company insiders.

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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