Novare Capital Management LLC Sells 22,229 Shares of Broadcom Inc. $AVGO

Key Points

• Novare Capital Management trimmed its Broadcom stake by 16.8% in the first quarter, selling 22,229 shares and leaving it with 110,349 shares valued at about $34.2 million.
• Institutional ownership remains heavy, with hedge funds and other institutions holding about 76.43% of Broadcom shares. Several major investors, including Vanguard and State Street, also reported sizable positions.
• Broadcom continues to draw bullish analyst attention and posted strong recent results, including quarterly EPS of $2.44 on revenue of $22.19 billion, while Wall Street’s consensus target stands around $493.24 per share.

Novare Capital Management LLC decreased its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 16.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 110,349 shares of the semiconductor manufacturer's stock after selling 22,229 shares during the period. Broadcom makes up about 2.7% of Novare Capital Management LLC's portfolio, making the stock its 8th largest position. Novare Capital Management LLC's holdings in Broadcom were worth $34,154,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Norges Bank purchased a new stake in Broadcom during the fourth quarter worth about $24,252,196,000. Cardano Risk Management B.V. grew its holdings in Broadcom by 895.2% during the 4th 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 in the last quarter. State Street Corp lifted its stake in Broadcom by 2.7% in the 4th quarter. State Street Corp now owns 190,084,351 shares of the semiconductor manufacturer's stock worth $65,788,194,000 after purchasing an additional 5,040,801 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its position in shares of Broadcom by 499.4% in the third quarter. Arrowstreet Capital Limited Partnership now owns 5,634,232 shares of the semiconductor manufacturer's stock worth $1,858,789,000 after buying an additional 4,694,313 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of Broadcom by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 482,707,302 shares of the semiconductor manufacturer's stock worth $167,064,997,000 after purchasing an additional 3,919,715 shares in the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Broadcom

In related news, insider Charlie B. Kawwas sold 10,000 shares of the firm's stock in a transaction on Wednesday, April 8th. The stock was sold at an average price of $345.23, for a total value of $3,452,300.00. Following the completion of the transaction, the insider owned 787,184 shares in the company, valued at $271,759,532.32. This trade represents a 1.25% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Harry L. You acquired 1,000 shares of the business's stock in a transaction dated Thursday, June 11th. The stock was acquired at an average price of $373.57 per share, for a total transaction of $373,570.00. Following the purchase, the director directly owned 38,466 shares of the company's stock, valued at approximately $14,369,743.62. This trade represents a 2.67% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have sold a total of 59,385 shares of company stock worth $21,301,057 in the last three months. 1.90% of the stock is owned by company insiders.

Key Stories Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom and OpenAI unveiled Jalapeño, a custom AI inference chip that could expand Broadcom’s role in AI infrastructure and deepen its long-term partnership with OpenAI. Reuters: OpenAI unveils custom chip it designed with Broadcom to boost its AI infrastructure
• Positive Sentiment: Early testing suggests the new chip delivers better performance per watt, which supports Broadcom’s AI efficiency story and could improve adoption with hyperscale data-center customers. GlobeNewswire: OpenAI and Broadcom Unveil LLM-Optimized Intelligence Processor
• Neutral Sentiment: Broadcom raised its tender offer for senior notes to $3 billion, a financing move that may affect investor views on leverage and capital allocation more than near-term earnings. MSN: Broadcom raises tender offer for its senior notes to $3 billion
• Neutral Sentiment: Commentary around AI-chip sector volatility and whether the AI trade is cooling adds mixed context, but does not change Broadcom’s core AI growth narrative. Benzinga: Broadcom, OpenAI Unveil ‘Jalapeño’ AI Inference Chip
• Negative Sentiment: Some prior reports noted weakness in the broader semiconductor complex and concerns about AI infrastructure spending, which could limit upside if the sector selloff continues. Yahoo Finance: Broadcom (AVGO) Stock Trades Down, Here Is Why

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Oppenheimer reaffirmed an "outperform" rating and issued a $535.00 price objective (up from $450.00) on shares of Broadcom in a research note on Thursday, June 4th. Wall Street Zen downgraded shares of Broadcom from a "strong-buy" rating to a "buy" rating in a research report on Tuesday. The Goldman Sachs Group reissued a "buy" rating and issued a $525.00 target price on shares of Broadcom in a research note on Thursday, June 4th. Mizuho increased their target price on Broadcom from $480.00 to $530.00 and gave the company an "outperform" rating in a research note on Thursday, June 4th. Finally, Benchmark lifted their price target on shares of Broadcom from $485.00 to $545.00 and gave the stock a "buy" rating in a research note on Thursday, June 4th. One analyst has rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $493.24.

Broadcom Stock Performance

NASDAQ:AVGO opened at $381.30 on Thursday. The stock's fifty day moving average is $412.37 and its 200 day moving average is $363.42. The firm has a market capitalization of $1.81 trillion, a PE ratio of 63.55, a PEG ratio of 0.67 and a beta of 1.41. 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 Inc. has a fifty-two week low of $262.66 and a fifty-two week high of $495.00.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share 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 business had revenue of $22.19 billion for the quarter, compared to analyst estimates of $22.13 billion. During the same quarter last year, the firm posted $1.58 earnings per share. The business's revenue was up 47.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Broadcom Inc. will post 10.24 earnings per share for the current year.

Broadcom Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 22nd will be issued 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 is Monday, June 22nd. Broadcom's dividend payout ratio is currently 43.33%.

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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