Peapack Gladstone Financial Corp Trims Stock Position in Broadcom Inc. $AVGO

Key Points

• Peapack Gladstone Financial Corp reduced its Broadcom stake by 6.9% in the fourth quarter, selling 9,121 shares and leaving it with 123,337 shares valued at about $42.7 million.
• Broadcom reported better-than-expected quarterly results, with EPS of $2.44 on revenue of $22.19 billion, and revenue jumped 47.9% year over year.
• The company also declared a quarterly dividend of $0.65 per share, while analysts remain broadly positive with a consensus rating of Moderate Buy and an average price target of $490.13.

Peapack Gladstone Financial Corp cut its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 6.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 123,337 shares of the semiconductor manufacturer's stock after selling 9,121 shares during the period. Peapack Gladstone Financial Corp's holdings in Broadcom were worth $42,687,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of AVGO. Brighton Jones LLC lifted its position in Broadcom by 21.8% in the fourth quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer's stock valued at $6,882,000 after acquiring an additional 5,322 shares during the last quarter. Revolve Wealth Partners LLC lifted its position in Broadcom by 10.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 7,997 shares of the semiconductor manufacturer's stock valued at $1,854,000 after acquiring an additional 756 shares during the last quarter. United Bank lifted its position in Broadcom by 76.5% in the first quarter. United Bank now owns 2,339 shares of the semiconductor manufacturer's stock valued at $392,000 after acquiring an additional 1,014 shares during the last quarter. Sivia Capital Partners LLC lifted its position in Broadcom by 10.1% in the second quarter. Sivia Capital Partners LLC now owns 12,693 shares of the semiconductor manufacturer's stock valued at $3,499,000 after acquiring an additional 1,160 shares during the last quarter. Finally, Capital & Planning LLC lifted its position in Broadcom by 10.5% in the second quarter. Capital & Planning LLC now owns 3,983 shares of the semiconductor manufacturer's stock valued at $1,098,000 after acquiring an additional 378 shares during the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Mark David Brazeal sold 50,488 shares of the business's stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $321.60, for a total transaction of $16,236,940.80. Following the transaction, the insider directly owned 278,141 shares in the company, valued at $89,450,145.60. The trade was a 15.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Charlie B. Kawwas sold 39,116 shares of the business's stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $321.61, for a total transaction of $12,580,096.76. Following the transaction, the insider owned 74,626 shares in the company, valued at approximately $24,000,467.86. This trade represents a 34.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 324,282 shares of company stock valued at $106,425,249. 1.90% of the stock is owned by insiders.

Broadcom Trading Down 12.6%

NASDAQ AVGO opened at $418.91 on Friday. 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 firm has a market cap of $1.98 trillion, a PE ratio of 69.82, a P/E/G ratio of 0.99 and a beta of 1.41. Broadcom Inc. has a one year low of $241.11 and a one year high of $495.00. The firm's fifty day moving average is $394.88 and its two-hundred day moving average is $361.73.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its quarterly earnings data on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 EPS for the quarter, beating analysts' consensus estimates of $2.40 by $0.04. The company had revenue of $22.19 billion for the quarter, compared to analyst estimates of $22.13 billion. Broadcom had a net margin of 38.85% and a return on equity of 42.88%. Broadcom's quarterly revenue was up 47.9% on a year-over-year basis. During the same period in the previous year, the business posted $1.58 earnings per share. Analysts expect that Broadcom Inc. will post 9.89 earnings per share for the current year.

Broadcom Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 22nd will be paid a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date is Monday, June 22nd. Broadcom's payout ratio is 50.78%.

Trending Headlines about Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom still delivered record second-quarter revenue of $22.19 billion, topped EPS estimates, and generated strong free cash flow, showing underlying business strength. Broadcom Inc. Announces Second Quarter Fiscal Year 2026 Financial Results and Quarterly Dividend
• Positive Sentiment: AI semiconductor revenue surged 143% year over year to $10.8 billion, and management signaled continued demand from hyperscale customers. Broadcom's sales and AI chip forecast comes in below expectations, shares tumble
• Positive Sentiment: Several analysts raised price targets after the report, including JPMorgan, Bank of America, Mizuho, and Benchmark, indicating Street optimism remains intact despite the selloff. Benzinga analyst target updates
• Neutral Sentiment: Broadcom declared a quarterly dividend of $0.65 per share, reinforcing its shareholder-return profile but not enough to offset the earnings-driven volatility.
• Negative Sentiment: The stock sold off because third-quarter AI revenue guidance came in below elevated expectations, raising concerns that AI growth may be normalizing faster than investors hoped. Broadcom: AI guidance gap reveals the cost of sky-high expectations
• Negative Sentiment: Broadcom’s disappointment sparked a broader semiconductor retreat, pressuring chip stocks and contributing to weakness in the Nasdaq. Micron, Marvell, and Broadcom lead chipmakers' premarket losses

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Rosenblatt Securities reissued a "buy" rating and issued a $500.00 price target on shares of Broadcom in a research report on Thursday. Citigroup restated a "buy" rating on shares of Broadcom in a research note on Thursday. UBS Group set a $485.00 price objective on shares of Broadcom and gave the company a "buy" rating in a research note on Thursday. Benchmark lifted their price objective on shares of Broadcom from $485.00 to $545.00 and gave the company a "buy" rating in a research note on Thursday. Finally, Deutsche Bank Aktiengesellschaft restated a "buy" rating and issued a $515.00 price objective (up from $430.00) on shares of Broadcom in a research note on Thursday. One analyst has rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat, Broadcom has an average rating of "Moderate Buy" and a consensus price target of $490.13.

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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