State of Michigan Retirement System Sells 58,200 Shares of Broadcom Inc. $AVGO

Key Points

• State of Michigan Retirement System sold 58,200 shares of Broadcom in Q4, trimming its stake by 3.1% to 1,846,860 shares (about 3.1% of its portfolio) valued at roughly $639.2 million.
• Institutional ownership is high (76.43%) with major firms like Arrowstreet and Vanguard increasing positions, and analysts largely bullish (consensus "Moderate Buy", average target ~$435) as an AI demand thesis supports Broadcom’s data‑center and AI product lines.
• Broadcom (market cap ≈ $1.97T) reported revenue of $19.31B (up 29.5% YoY) with an EPS beat, pays a $0.65 quarterly dividend, and has upcoming Q2 FY2026 results on June 3 that could spark volatility.

State of Michigan Retirement System lowered its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 3.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,846,860 shares of the semiconductor manufacturer's stock after selling 58,200 shares during the period. Broadcom accounts for 3.1% of State of Michigan Retirement System's investment portfolio, making the stock its 5th largest position. State of Michigan Retirement System's holdings in Broadcom were worth $639,198,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Arrowstreet Capital Limited Partnership lifted its stake in shares of Broadcom by 499.4% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 5,634,232 shares of the semiconductor manufacturer's stock valued at $1,858,789,000 after purchasing an additional 4,694,313 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Broadcom by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 482,707,302 shares of the semiconductor manufacturer's stock valued at $167,064,997,000 after purchasing an additional 3,919,715 shares during the last quarter. Nordea Investment Management AB lifted its stake in shares of Broadcom by 47.5% in the 4th quarter. Nordea Investment Management AB now owns 9,814,757 shares of the semiconductor manufacturer's stock valued at $3,406,211,000 after purchasing an additional 3,160,586 shares during the last quarter. Danske Bank A S acquired a new position in shares of Broadcom in the 3rd quarter valued at $987,488,000. Finally, Massachusetts Financial Services Co. MA lifted its stake in shares of Broadcom by 41.6% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 8,520,644 shares of the semiconductor manufacturer's stock valued at $2,811,046,000 after purchasing an additional 2,503,304 shares during the last quarter. Institutional investors and hedge funds own 76.43% of the company's stock.

Broadcom News Summary

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: AI demand thesis: Bernstein says AI agent-driven chip demand is “off the charts,” implying sustained revenue upside for Broadcom’s data‑center and AI product lines. Bernstein Analyst: AI Agents Drive Chip Demand ‘Off the Charts,' Supply Can't Keep Up
• Positive Sentiment: Company AI positioning: Analysis argues Broadcom’s AI engine and silicon roadmap could power the next decade, supporting higher-margin, recurring revenue potential. Broadcom's AI Engine Could Power The Next Decade
• Positive Sentiment: Macro/sector tailwind: Nasdaq strength and AI enthusiasm continue to spotlight AVGO alongside NVDA and MU as AI infrastructure winners, supporting multiple expansion potential. AI Enthusiasm Powers Nasdaq to All-Time High: 3 Stocks to Grab
• Positive Sentiment: Product catalyst: Broadcom launched a fourth wave of Wi‑Fi 8 chips and a 10G PON chip, broadening its broadband TAM and offering near-term revenue diversification outside pure AI silicon. Broadcom’s New Wi-Fi 8 Push Adds Another Leg To Growth Story
• Positive Sentiment: Institutional buying: Manning & Napier increased its AVGO stake, a signal of continued confidence from some asset managers. Manning & Napier Boosts Broadcom Stake by 22,013 Shares
• Neutral Sentiment: Upcoming catalyst: Broadcom set its Q2 FY2026 earnings release and conference call for June 3 — a formal moment for management to reset guidance and could spark volatility. Broadcom Inc. to Announce Second Quarter Fiscal Year 2026 Financial Results on Wednesday, June 3, 2026
• Neutral Sentiment: Analyst sentiment/coverage: Multiple outlets note bullish analyst recommendations on AVGO; useful for flows but may already be priced in and can produce headline-driven volatility. Wall Street Bulls Look Optimistic About Broadcom Inc. (AVGO): Should You Buy?
• Negative Sentiment: Near-term price pressure: A Zacks note flags that AVGO dipped more than the broader market today — consistent with profit taking and rotation despite the positive fundamentals. Why Broadcom Inc. (AVGO) Dipped More Than Broader Market Today

Broadcom Price Performance

AVGO stock opened at $416.41 on Tuesday. The business's fifty day moving average price is $347.36 and its 200 day moving average price is $349.79. The company has a current ratio of 1.90, a quick ratio of 1.73 and a debt-to-equity ratio of 0.80. Broadcom Inc. has a 12-month low of $195.94 and a 12-month high of $429.31. The company has a market capitalization of $1.97 trillion, a PE ratio of 81.33, a P/E/G ratio of 0.87 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 for the quarter, topping 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 company had revenue of $19.31 billion for the quarter, compared to the consensus estimate of $19.10 billion. During the same quarter in the prior year, the business earned $1.60 EPS. Broadcom's revenue was up 29.5% on a year-over-year basis. On average, sell-side analysts anticipate that Broadcom Inc. will post 9.95 EPS for the current year.

Broadcom Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders 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 yield of 0.6%. Broadcom's dividend payout ratio is 50.78%.

Insider Activity at Broadcom

In other Broadcom news, Director Justine Page sold 2,018 shares of the company's stock in a transaction dated Wednesday, April 8th. The stock was sold at an average price of $353.00, for a total transaction of $712,354.00. Following the sale, the director owned 18,164 shares in the company, valued at $6,411,892. This represents a 10.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Charlie B. Kawwas sold 10,000 shares of the company's stock in a transaction dated 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 sale, the insider owned 787,184 shares in the company, valued at approximately $271,759,532.32. This trade represents a 1.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 324,282 shares of company stock worth $106,425,249 over the last quarter. 1.90% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on AVGO shares. JPMorgan Chase & Co. upped their price target on Broadcom from $475.00 to $500.00 and gave the company an "overweight" rating in a research note on Thursday, March 5th. Truist Financial upped their price target on Broadcom from $510.00 to $545.00 and gave the company a "buy" rating in a research note on Thursday, March 5th. Mizuho reaffirmed an "outperform" rating and issued a $480.00 price target on shares of Broadcom in a research note on Thursday, April 16th. DA Davidson raised Broadcom to a "hold" rating in a research note on Friday, February 13th. Finally, Zacks Research raised Broadcom from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 2nd. Two analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $435.30.

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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