Soltis Investment Advisors LLC Reduces Position in Broadcom Inc. $AVGO

Key Points

• Soltis Investment Advisors reduced its Broadcom stake by 43.7% in the fourth quarter, selling 23,377 shares and leaving it with 30,171 shares worth about $10.44 million.
• Broadcom’s latest earnings beat expectations, with EPS of $2.05 versus the $2.03 estimate and revenue of $19.31 billion, up 29.5% year over year.
• The company continues to draw bullish attention for its AI and cloud infrastructure exposure, with news of expanded LSEG ties, collaboration with Applied Materials, and analysts maintaining an overall Moderate Buy rating with an average price target of $448.10.

Soltis Investment Advisors LLC cut its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 43.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,171 shares of the semiconductor manufacturer's stock after selling 23,377 shares during the period. Broadcom makes up 0.7% of Soltis Investment Advisors LLC's portfolio, making the stock its 25th biggest position. Soltis Investment Advisors LLC's holdings in Broadcom were worth $10,442,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Miller Global Investments LLC purchased a new position in Broadcom in the fourth quarter worth about $31,000. JCIC Asset Management Inc. purchased a new position in Broadcom in the third quarter worth about $31,000. Nvest Wealth Strategies Inc. purchased a new position in Broadcom in the fourth quarter worth about $33,000. Family CFO Inc purchased a new position in Broadcom in the fourth quarter worth about $35,000. Finally, PayPay Securities Corp boosted its position in 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 purchasing an additional 56 shares during the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

Broadcom News Roundup

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom renewed and expanded ties with the London Stock Exchange Group, adding another sign of demand for its VMware and cloud infrastructure offerings. The company also reiterated momentum in its custom AI chip business, with an internal target of $100 billion in AI-chip revenue by 2027. Broadcom Deepens LSEG Ties While Targeting US$100b In Custom AI Chips
• Positive Sentiment: Applied Materials named Broadcom as an EPIC Innovation Partner, highlighting collaboration on advanced packaging technologies for next-generation AI chips and systems. That supports the view that Broadcom remains central to the AI hardware buildout. Applied Materials Announces Broadcom as EPIC Innovation Partner
• Positive Sentiment: Analysts reportedly raised price targets on Broadcom, reinforcing optimism around AI-related growth and helping offset the recent tech-sector pullback. Analysts raise Broadcom stock price target
• Positive Sentiment: Multiple recent articles argued Broadcom remains a strong growth and long-term investment idea, citing its solid fundamentals and durable AI exposure. Is Broadcom (AVGO) One of the Best Long Term US Stocks to Buy Right Now?
• Neutral Sentiment: Some commentary suggested Broadcom is becoming “overcrowded,” implying investor enthusiasm may already be very high and the stock could be vulnerable to volatility after its recent gains. Broadcom Is Far Too Overcrowded
• Neutral Sentiment: Other pieces discussed Broadcom’s valuation and the broader tech selloff, which may be contributing to near-term pressure despite the company’s strong AI narrative. What's going on with Broadcom stock Thursday?

Broadcom Stock Down 0.8%

AVGO stock opened at $414.57 on Friday. Broadcom Inc. has a twelve month low of $226.18 and a twelve month high of $442.36. 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 stock has a market cap of $1.96 trillion, a P/E ratio of 80.97, a PEG ratio of 0.86 and a beta of 1.43. The business's 50-day moving average price is $371.85 and its 200-day moving average price is $355.68.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its quarterly earnings data on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 earnings per share for the quarter, beating analysts' consensus estimates 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 analysts' expectations of $19.10 billion. During the same period in the previous year, the firm earned $1.60 EPS. The business's quarterly revenue was up 29.5% on a year-over-year basis. On average, equities research analysts forecast that Broadcom Inc. will post 9.97 EPS for the current year.

Broadcom Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Monday, March 23rd were given 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 of this dividend was Monday, March 23rd. Broadcom's payout ratio is presently 50.78%.

Insider Buying and Selling

In other news, insider Mark David Brazeal sold 50,488 shares of Broadcom stock in a transaction dated Tuesday, March 17th. The stock was 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 of the company's stock, valued at $89,450,145.60. The trade was a 15.36% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Charlie B. Kawwas sold 39,116 shares of Broadcom stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $321.61, for a total value of $12,580,096.76. Following the transaction, the insider directly owned 74,626 shares in the company, valued at approximately $24,000,467.86. The trade was a 34.39% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 324,282 shares of company stock valued at $106,425,249 in the last 90 days. Corporate insiders own 1.90% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on AVGO shares. Citigroup reissued a "buy" rating and issued a $500.00 target price (up from $475.00) on shares of Broadcom in a research report on Tuesday, May 12th. DA Davidson raised Broadcom to a "hold" rating in a research report on Friday, February 13th. Weiss Ratings cut Broadcom from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Friday, April 24th. Wells Fargo & Company reissued an "overweight" rating and issued a $545.00 target price (up from $430.00) on shares of Broadcom in a research report on Thursday, May 14th. Finally, Seaport Research Partners reissued a "neutral" rating on shares of Broadcom in a research report on Wednesday, April 8th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, Broadcom currently has an average rating of "Moderate Buy" and an average price target of $448.10.

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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