Modera Wealth Management LLC Sells 21,783 Shares of Broadcom Inc. $AVGO

Key Points

• Modera Wealth Management trimmed its Broadcom stake by 6.4% in the first quarter, selling 21,783 shares. Even after the sale, Broadcom remained a major holding worth about $98.1 million.
• Insider activity was mixed: Director Gayla J. Delly sold 1,890 shares, while Director Harry L. You bought 1,000 shares. Over the last 90 days, insiders sold a net 61,644 shares, and company insiders own 1.90% of the stock.
• Broadcom’s fundamentals and outlook remain strong, with quarterly EPS and revenue both topping estimates and revenue up 47.9% year over year. Analysts maintain a “Moderate Buy” consensus, with a target price around $493.24, while the stock was trading around $378.16.

Modera Wealth Management LLC decreased its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 6.4% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 316,938 shares of the semiconductor manufacturer's stock after selling 21,783 shares during the quarter. Broadcom accounts for about 1.2% of Modera Wealth Management LLC's portfolio, making the stock its 20th largest holding. Modera Wealth Management LLC's holdings in Broadcom were worth $98,095,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of AVGO. Norges Bank acquired a new stake in shares of Broadcom in the fourth quarter valued at approximately $24,252,196,000. Cardano Risk Management B.V. boosted its stake in shares of Broadcom by 895.2% in the fourth quarter. Cardano Risk Management B.V. now owns 12,689,800 shares of the semiconductor manufacturer's stock valued at $4,391,940,000 after buying an additional 11,414,701 shares during the period. State Street Corp grew its position in Broadcom by 2.7% during the fourth quarter. State Street Corp now owns 190,084,351 shares of the semiconductor manufacturer's stock worth $65,788,194,000 after buying an additional 5,040,801 shares in the last quarter. Vanguard Group Inc. increased its stake in Broadcom by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 482,707,302 shares of the semiconductor manufacturer's stock worth $167,064,997,000 after acquiring an additional 3,919,715 shares during the period. Finally, Nordea Investment Management AB increased its stake in Broadcom by 47.5% during the 4th quarter. Nordea Investment Management AB now owns 9,814,757 shares of the semiconductor manufacturer's stock worth $3,406,211,000 after acquiring an additional 3,160,586 shares during the period. Institutional investors own 76.43% of the company's stock.

Insider Activity at Broadcom

In other Broadcom news, Director Gayla J. Delly sold 1,890 shares of the firm's 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 sale, the director owned 31,326 shares in the company, valued at $12,072,413.88. This trade represents a 5.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Harry L. You bought 1,000 shares of the firm's stock in a transaction on Thursday, June 11th. The shares were bought at an average cost of $373.57 per share, for a total transaction of $373,570.00. Following the purchase, the director owned 38,466 shares of the company's stock, valued at approximately $14,369,743.62. The trade was a 2.67% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders sold 61,644 shares of company stock valued at $24,016,214. Company insiders own 1.90% of the company's stock.

Broadcom News Summary

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Morgan Stanley said Broadcom remains one of its preferred ways to play the AI infrastructure buildout, calling AVGO an attractive risk-reward name after the recent semiconductor pullback. Broadcom stock gains 2% today: here's why
• Positive Sentiment: Analysts and market commentary highlighted Broadcom as a high-cash-flow AI chip stock that could benefit as investors look for quality names amid market volatility. 4 High Cash-Producing AI Chip Stocks to Buy Amid Market Uncertainties
• Positive Sentiment: Broadcom’s AI business is being viewed as a key driver of the investment case, with reports noting strong AI chip revenue growth and a larger shift toward AI-related mix. AMD vs. Broadcom: The Better AI-Chip Stock to Buy After the Sell-Off
• Positive Sentiment: Broadcom also announced a major infrastructure software deal with Standard Chartered to modernize banking cloud operations across 54 markets, which supports its VMware-based software revenue stream. Broadcom (AVGO) Lands Standard Chartered Deal To Power Banking Cloud In 54 Markets
• Neutral Sentiment: Broadcom was included in broader “buy the dip” chip-sector commentary as investors looked for value after the recent memory and AI semiconductor sell-off. The Memory Stock Sell-Off Created a ‘Strong Entry Point,' Says Morgan Stanley. Investors Are Buying In.
• Negative Sentiment: Recent articles also noted that semiconductor stocks had fallen into a bear market after a sharp index decline, reflecting ongoing sectorwide pressure that could cap gains for AVGO. Semiconductor stocks enter bear market: Is bubble burst next?

Broadcom Trading Up 2.0%

Shares of AVGO stock opened at $378.16 on Tuesday. The stock's fifty day moving average price is $400.28 and its two-hundred day moving average price is $365.62. The company has a market cap of $1.80 trillion, a PE ratio of 63.03, a P/E/G ratio of 0.65 and a beta of 1.45. Broadcom Inc. has a fifty-two week low of $273.00 and a fifty-two week high of $495.00. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.01 and a current ratio of 2.24.

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 analysts' consensus estimates 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 analysts' expectations of $22.13 billion. During the same quarter in the previous year, the firm earned $1.58 EPS. Broadcom's revenue was up 47.9% on a year-over-year basis. Equities analysts predict that Broadcom Inc. will post 10.24 EPS for the current fiscal year.

Broadcom Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 22nd were paid 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 (DPR) is presently 43.33%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on AVGO. Mizuho upped their target price on Broadcom from $480.00 to $530.00 and gave the company an "outperform" rating in a research report on Thursday, June 4th. Bank of America raised their price target on Broadcom from $450.00 to $530.00 and gave the stock a "buy" rating in a research report on Thursday, June 4th. Erste Group Bank reaffirmed a "hold" rating on shares of Broadcom in a research note on Tuesday, July 7th. UBS Group set a $485.00 price objective on shares of Broadcom and gave the stock a "buy" rating in a research report on Thursday, June 4th. Finally, DA Davidson increased their price objective on shares of Broadcom from $375.00 to $400.00 and gave the stock 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 stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $493.24.

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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