Hamlin Capital Management LLC Sells 134,933 Shares of Broadcom Inc. $AVGO

Key Points

• Hamlin Capital Management trimmed its Broadcom stake by 13.3%, selling 134,933 shares in Q3 and now holds 881,134 shares worth about $290.7 million, making AVGO its largest holding (~6.6% of the portfolio).
• Broadcom posted strong quarterly results (revenue $19.31B, EPS $2.05, revenue up 29.5% YoY) and highlighted sizable AI revenue/guidance, and analysts remain largely bullish with a consensus "Moderate Buy" and a $435.30 average price target (some targets as high as $500).
• Capital-return and insider activity present mixed signals: the company is boosting buybacks and declared a $0.65 quarterly dividend, while insiders sold 429,844 shares in the quarter (including CEO Hock E. Tan's 70,000-share sale).

Hamlin Capital Management LLC decreased its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 13.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 881,134 shares of the semiconductor manufacturer's stock after selling 134,933 shares during the quarter. Broadcom makes up approximately 6.6% of Hamlin Capital Management LLC's holdings, making the stock its largest holding. Hamlin Capital Management LLC's holdings in Broadcom were worth $290,695,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. JCIC Asset Management Inc. purchased a new stake in Broadcom in the third quarter valued at approximately $31,000. Longfellow Investment Management Co. LLC purchased a new position in Broadcom during the second quarter worth approximately $27,000. Teachers Insurance & Annuity Association of America purchased a new position in Broadcom during the second quarter worth approximately $28,000. Manning & Napier Advisors LLC acquired a new position in shares of Broadcom in the 3rd quarter valued at $34,000. Finally, New England Capital Financial Advisors LLC purchased a new stake in shares of Broadcom during the 2nd quarter valued at $31,000. Institutional investors and hedge funds own 76.43% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on AVGO. JPMorgan Chase & Co. upped their price objective on Broadcom from $475.00 to $500.00 and gave the stock an "overweight" rating in a report on Thursday, March 5th. Wells Fargo & Company upgraded Broadcom from an "equal weight" rating to an "overweight" rating and lifted their target price for the company from $410.00 to $430.00 in a report on Thursday, January 15th. Piper Sandler reissued an "overweight" rating and set a $430.00 price target (up from $375.00) on shares of Broadcom in a research report on Friday, December 12th. Zacks Research lowered Broadcom from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, March 4th. Finally, UBS Group set a $475.00 price objective on Broadcom and gave the stock a "buy" rating in a report on Monday, December 15th. One analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $435.30.

Broadcom News Roundup

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Wall Street remains highly bullish — nearly all covering analysts rate AVGO Buy and median price targets sit well above the current level, supporting upside expectations. Read More.
• Positive Sentiment: Company fundamentals and guidance are backing the AI story: recent quarterly results beat estimates, Broadcom reported large AI revenue (reported ~$12B FY25) and guided substantial AI revenue for the quarter — commentary that validates continued demand from hyperscalers and AI custom chip builds. Read More.
• Positive Sentiment: Capital return activity is notable — Broadcom is stepping up buybacks, which can support the share price by reducing float and signaling management confidence. Read More.
• Positive Sentiment: Product and roadmap news: Broadcom announced availability of the Taurus™ BCM83640, reinforcing its competitive position in networking and AI infrastructure components. Product cadence helps underwrite medium‑term revenue growth. Read More.
• Neutral Sentiment: Political/investor-interest signal: multiple members of Congress disclosed buys of AVGO — a datapoint that can attract retail attention but is informational rather than a direct catalyst. Read More.
• Negative Sentiment: Institutional trimming: Ameriprise disclosed a ~6.6% reduction in its AVGO position, a small headwind that could add selling pressure if other large holders follow suit. Read More.

Broadcom Stock Performance

NASDAQ:AVGO opened at $324.92 on Tuesday. The firm's fifty day simple moving average is $332.36 and its 200 day simple moving average is $345.10. The company has a current ratio of 1.90, a quick ratio of 1.73 and a debt-to-equity ratio of 0.80. Broadcom Inc. has a twelve month low of $138.10 and a twelve month high of $414.61. The firm has a market capitalization of $1.54 trillion, a price-to-earnings ratio of 63.46, a PEG ratio of 0.69 and a beta of 1.22.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its quarterly earnings results on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.03 by $0.02. Broadcom had a return on equity of 38.61% and a net margin of 36.57%.The firm had revenue of $19.31 billion during the quarter, compared to the consensus estimate of $19.10 billion. During the same period in the prior year, the firm earned $1.60 EPS. The firm's quarterly revenue was up 29.5% compared to the same quarter last year. As a group, equities research analysts expect that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Monday, March 23rd will be paid a $0.65 dividend. The ex-dividend date is Monday, March 23rd. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.8%. Broadcom's dividend payout ratio (DPR) is 50.78%.

Insiders Place Their Bets

In related news, CEO Hock E. Tan sold 70,000 shares of the firm's stock in a transaction dated Tuesday, January 6th. The stock was sold at an average price of $347.30, for a total transaction of $24,311,000.00. Following the sale, the chief executive officer directly owned 132,836 shares in the company, valued at approximately $46,133,942.80. This trade represents a 34.51% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Mark David Brazeal sold 30,000 shares of the business's stock in a transaction that occurred on Tuesday, January 6th. The stock was sold at an average price of $347.12, for a total value of $10,413,600.00. Following the transaction, the insider directly owned 210,573 shares in the company, valued at $73,094,099.76. This trade represents a 12.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 429,844 shares of company stock valued at $145,624,987. Company insiders own 1.90% of the company's 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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