Manhattan West Asset Management LLC Trims Holdings in Broadcom Inc. $AVGO

Key Points

• Manhattan West trimmed its position: The firm cut its Broadcom stake by 9.9% in Q3 to 31,653 shares (worth $10.443M), making AVGO its 12th largest holding at about 2.2% of the portfolio.
• Significant insider selling: Executives including Charlie B. Kawwas and CFO Kirsten Spears sold ~75,408 shares on March 17 at ≈$321.6 each, and insiders have sold 528,970 shares (~$177.15M) over the last 90 days, leaving insiders with 1.90% ownership.
• Operational strength and analyst support: Broadcom posted stronger-than-expected Q results (revenue $19.31B, +29.5% YoY), is shipping its Tomahawk 6 switch and confirmed a Meta partnership on MTIA chips, while analysts maintain a "Moderate Buy" consensus with an average target of $435.30 and the company pays a $0.65 quarterly dividend.

Manhattan West Asset Management LLC lowered its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 9.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,653 shares of the semiconductor manufacturer's stock after selling 3,488 shares during the quarter. Broadcom makes up about 2.2% of Manhattan West Asset Management LLC's investment portfolio, making the stock its 12th largest holding. Manhattan West Asset Management LLC's holdings in Broadcom were worth $10,443,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Brighton Jones LLC grew its holdings in Broadcom by 21.8% during the 4th quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer's stock worth $6,882,000 after acquiring an additional 5,322 shares in the last quarter. Revolve Wealth Partners LLC raised its stake in shares of Broadcom by 10.4% in the 4th quarter. Revolve Wealth Partners LLC now owns 7,997 shares of the semiconductor manufacturer's stock valued at $1,854,000 after purchasing an additional 756 shares in the last quarter. United Bank lifted its position in shares of Broadcom by 76.5% during the first quarter. United Bank now owns 2,339 shares of the semiconductor manufacturer's stock worth $392,000 after purchasing an additional 1,014 shares during the last quarter. Sivia Capital Partners LLC lifted its position in shares of Broadcom by 10.1% during the second quarter. Sivia Capital Partners LLC now owns 12,693 shares of the semiconductor manufacturer's stock worth $3,499,000 after purchasing an additional 1,160 shares during the last quarter. Finally, Capital & Planning LLC grew its stake in Broadcom by 10.5% in the second quarter. Capital & Planning LLC now owns 3,983 shares of the semiconductor manufacturer's stock worth $1,098,000 after purchasing an additional 378 shares in the last quarter. Institutional investors own 76.43% of the company's stock.

Insider Activity

In other Broadcom news, insider Charlie B. Kawwas sold 39,116 shares of the stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $321.61, for a total value of $12,580,096.76. Following the sale, the insider directly owned 74,626 shares of the company's stock, valued at $24,000,467.86. This trade represents a 34.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Kirsten M. Spears sold 36,292 shares of the firm's stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $321.60, for a total value of $11,671,507.20. Following the completion of the sale, the chief financial officer owned 327,760 shares in the company, valued at $105,407,616. The trade was a 9.97% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 528,970 shares of company stock worth $177,150,321 over the last 90 days. Insiders own 1.90% of the company's stock.

Broadcom Stock Performance

Shares of NASDAQ AVGO opened at $315.93 on Thursday. The company has a quick ratio of 1.73, a current ratio of 1.90 and a debt-to-equity ratio of 0.80. The firm's 50-day moving average price is $331.36 and its two-hundred day moving average price is $345.06. Broadcom Inc. has a 52-week low of $138.10 and a 52-week high of $414.61. The stock has a market capitalization of $1.50 trillion, a P/E ratio of 61.71, a P/E/G ratio of 0.69 and a beta of 1.22.

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

Broadcom Announces Dividend

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

Analysts Set New Price Targets

Several analysts recently weighed in on AVGO shares. Bank of America lowered their price objective on Broadcom from $500.00 to $450.00 and set a "buy" rating for the company in a report on Thursday, March 5th. Susquehanna reaffirmed a "positive" rating and set a $450.00 target price (up from $400.00) on shares of Broadcom in a report on Thursday, December 4th. Weiss Ratings reiterated a "buy (b)" rating on shares of Broadcom in a research report on Monday, December 29th. Wall Street Zen upgraded Broadcom from a "hold" rating to a "buy" rating in a report on Saturday, December 13th. Finally, Citigroup upped their price target on Broadcom from $458.00 to $475.00 and gave the company a "buy" rating in a research report on Thursday, March 5th. One investment analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $435.30.

Broadcom News Roundup

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom began production‑volume shipments of its Tomahawk 6 switch family — the world’s first 102.4 Tbps switch — which accelerates customer deployments for hyperscale AI networks and supports near‑term revenue scaling in networking. Broadcom Commences Production Volume Shipping of World’s First 102.4 Tbps Switch
• Positive Sentiment: Meta publicly confirmed Broadcom as a partner on its MTIA custom AI chips — removing doubt about a major customer relationship and strengthening AVGO’s revenue visibility for inference silicon and future GenAI deployments. Why Meta's AI Chip Announcement Has Broadcom Investors Paying Attention
• Positive Sentiment: Analyst support and institutional interest remain elevated — multiple price‑target upgrades and high‑profile investors (e.g., Rosenblatt raising targets; notable positions reported by Fisher Asset Management) keep a bullish narrative about AVGO’s AI growth trajectory. Rosenblatt Maintains Buy on Broadcom
• Positive Sentiment: Broadcom’s infrastructure software (VMware) and buyback activity remain tailwinds — buybacks cited by analysts can support EPS and shareholder returns during volatile price action. Berkshire, Broadcom & Nucor Are Revving Their Buyback Engines
• Neutral Sentiment: Broadcom’s role in new industry groups and optical standards (400G Optical MSA, Optical Compute Interconnect) positions it strategically for long‑term AI data‑center interoperability — supportive strategically but benefits will play out over years. Broadcom AI Alliances Shape Optical Standards And Raise Valuation Questions
• Negative Sentiment: Meta’s announcement did not include a GenAI training chip (reports suggest Olympus development is paused), which likely delays the timing and magnitude of potential training‑chip revenue for Broadcom — a near‑term revenue/timing risk. Why Meta's AI Chip Announcement Has Broadcom Investors Paying Attention
• Negative Sentiment: Valuation and sentiment concerns are emerging in some research notes and op‑eds (calls for rethink/downgrades), which can amplify short‑term selling even as fundamentals remain strong — a common cause of choppy trading. Seeking Alpha: Broadcom Rethink/Downgrade

Broadcom Company 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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