Payden & Rygel Has $15.25 Million Stock Position in Broadcom Inc. $AVGO

Key Points

• Payden & Rygel trimmed its Broadcom stake by 2.7% in the fourth quarter, selling 1,232 shares and ending with 44,068 shares valued at about $15.25 million.
• Analysts remain broadly bullish on AVGO, with several firms reiterating buy ratings and price targets around $480–$500; the consensus rating is “Moderate Buy” with an average target of $448.10.
• Broadcom’s fundamentals and AI-related momentum are strong, as recent earnings beat expectations and revenue rose 29.5% year over year, while news coverage highlights rapid growth in its AI semiconductor business.

Payden & Rygel reduced its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 2.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 44,068 shares of the semiconductor manufacturer's stock after selling 1,232 shares during the quarter. Payden & Rygel's holdings in Broadcom were worth $15,252,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Miller Global Investments LLC acquired a new position in shares of Broadcom in the fourth quarter worth approximately $31,000. JCIC Asset Management Inc. acquired a new position in shares of Broadcom in the third quarter worth approximately $31,000. Nvest Wealth Strategies Inc. acquired a new position in shares of Broadcom in the fourth quarter worth approximately $33,000. Family CFO Inc acquired a new position in shares of Broadcom in the fourth quarter worth approximately $35,000. Finally, PayPay Securities Corp lifted its stake in shares of Broadcom by 88.9% in the fourth quarter. PayPay Securities Corp now owns 119 shares of the semiconductor manufacturer's stock worth $41,000 after acquiring an additional 56 shares during the period. 76.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AVGO has been the topic of a number of recent analyst reports. TD Cowen reaffirmed a "buy" rating and issued a $500.00 price objective (up from $405.00) on shares of Broadcom in a research note on Friday, May 15th. Royal Bank Of Canada cut their price objective on Broadcom from $370.00 to $340.00 and set a "sector perform" rating on the stock in a research note on Monday, March 2nd. UBS Group reissued a "buy" rating and issued a $490.00 price target (up from $475.00) on shares of Broadcom in a research note on Monday, May 18th. Benchmark reissued a "buy" rating and issued a $485.00 price target on shares of Broadcom in a research note on Thursday, March 5th. Finally, Mizuho reissued an "outperform" rating and issued a $480.00 price target on shares of Broadcom in a research note on Thursday, April 16th. One research analyst has rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $448.10.

Insider Activity

In other news, Director Justine Page sold 2,018 shares of the business's stock in a transaction that occurred on Wednesday, April 8th. The stock was sold at an average price of $353.00, for a total transaction of $712,354.00. Following the completion of the sale, the director owned 18,164 shares in the company, valued at $6,411,892. The trade was a 10.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Mark David Brazeal sold 50,488 shares of the business's stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $321.60, for a total value of $16,236,940.80. Following the sale, the insider owned 278,141 shares of the company's stock, valued at approximately $89,450,145.60. This represents a 15.36% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 324,282 shares of company stock valued at $106,425,249. Corporate insiders own 1.90% of the company's stock.

Key Stories Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom’s AI semiconductor business is showing rapid growth, with AI revenue more than doubling and stronger Q2 expectations tied to hyperscale demand. Broadcom Rides on Accelerating Semiconductor Revenues: What's Ahead?
• Positive Sentiment: Analysts continue to highlight Broadcom as one of Goldman Sachs’ strongest AI infrastructure bets, reinforcing optimism around its role in AI chips and networking. Why Broadcom (AVGO) Remains One of Goldman’s Strongest AI Infrastructure Bets
• Positive Sentiment: Broadcom is expanding its AI ecosystem through a $125 million research and talent hub with Meta and UCLA, plus packaging work with Applied Materials, which could support long-term growth. Broadcom’s AI Research Push Links Chip Packaging Advances To Growth Story
• Positive Sentiment: Several articles and analyst notes point to strong long-term upside, with Broadcom repeatedly described as a durable AI winner and a solid growth stock. Is Broadcom Inc. (AVGO) a Solid Growth Stock? 3 Reasons to Think "Yes"
• Neutral Sentiment: Commentary about Broadcom’s stock price in 2030 reflects bullish long-term AI expectations, but it does not appear to be a near-term catalyst. This Will be Broadcom’s Stock Price In 2030
• Neutral Sentiment: Broader market commentary and inflation worries have also been mentioned, but these articles do not identify a Broadcom-specific problem. Inflation Fears Weighed on Broadcom (AVGO) in Q1
• Negative Sentiment: One recent note says Broadcom remains “overcrowded,” suggesting valuation or positioning risk after a strong rally. Broadcom Is Far Too Overcrowded
• Negative Sentiment: Broadcom has also faced some regulatory scrutiny in the EU, which could create headline risk even as AI sentiment stays positive. Broadcom Inc. (AVGO) Challenges EU Regulators While Barclays Sees AI Upside

Broadcom Price Performance

Shares of AVGO opened at $414.14 on Friday. Broadcom Inc. has a 52-week low of $226.18 and a 52-week high of $442.36. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.73 and a current ratio of 1.90. The business's 50 day moving average price is $373.30 and its two-hundred day moving average price is $356.09. The firm has a market cap of $1.96 trillion, a PE ratio of 80.89, a price-to-earnings-growth ratio of 0.86 and a beta of 1.43.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued 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 for the quarter, compared to analyst estimates of $19.10 billion. During the same period in the previous year, the firm earned $1.60 earnings per share. The company's revenue was up 29.5% compared to the same quarter last year. On average, equities analysts anticipate that Broadcom Inc. will post 9.91 EPS for the current year.

Broadcom Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Monday, March 23rd were issued a dividend of $0.65 per share. The ex-dividend date was Monday, March 23rd. This represents a $2.60 annualized dividend and a dividend yield of 0.6%. Broadcom's payout ratio is currently 50.78%.

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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