Stegent Equity Advisors Inc. Decreases Stake in Broadcom Inc. $AVGO

Key Points

• Stegent Equity Advisors cut its Broadcom position by 44.1% in the first quarter, selling 2,617 shares and leaving it with 3,313 shares valued at about $1.025 million.
• Broadcom continues to draw strong AI-related optimism, with analysts highlighting demand for custom AI silicon and its partnership with OpenAI on the “Jalapeño” accelerator as potential growth drivers.
• The company recently beat quarterly earnings expectations, reporting $2.44 EPS and $22.19 billion in revenue, while also paying a quarterly dividend of $0.65 per share.

Stegent Equity Advisors Inc. lowered its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 44.1% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,313 shares of the semiconductor manufacturer's stock after selling 2,617 shares during the quarter. Stegent Equity Advisors Inc.'s holdings in Broadcom were worth $1,025,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. ROSS JOHNSON & Associates LLC boosted its position in Broadcom by 1,320.0% in the fourth quarter. ROSS JOHNSON & Associates LLC now owns 71 shares of the semiconductor manufacturer's stock worth $25,000 after purchasing an additional 66 shares during the last quarter. Networth Advisors LLC grew its stake in Broadcom by 546.2% in the 1st quarter. Networth Advisors LLC now owns 84 shares of the semiconductor manufacturer's stock valued at $26,000 after purchasing an additional 71 shares during the period. SWAN Capital LLC increased its position in shares of Broadcom by 261.9% during the 4th quarter. SWAN Capital LLC now owns 76 shares of the semiconductor manufacturer's stock valued at $26,000 after purchasing an additional 55 shares during the last quarter. Miller Global Investments LLC purchased a new stake in shares of Broadcom during the 4th quarter valued at $31,000. Finally, Nvest Wealth Strategies Inc. bought a new stake in shares of Broadcom during the 4th quarter worth $33,000. Hedge funds and other institutional investors own 76.43% of the company's stock.

Trending Headlines about Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: JPMorgan, UBS, Jefferies and other analysts remain constructive on Broadcom’s AI-driven growth, with price targets well above current levels and continued optimism around custom AI silicon demand, including exposure to customers such as OpenAI and Anthropic. UBS Reaffirms Buy Rating on Broadcom (AVGO) Amid AI ASIC Demand and OpenAI, Anthropic Growth
• Positive Sentiment: Articles highlighting Broadcom’s partnership with OpenAI on the “Jalapeño” AI accelerator reinforce the market’s bullish view that AI infrastructure can keep driving revenue growth. What Broadcom (AVGO)'s Jalapeño AI Accelerator Partnership With OpenAI Means For Shareholders
• Neutral Sentiment: Several recent write-ups argue Broadcom may be attractive after its pullback, but they mostly restate the same long-term thesis rather than pointing to a new catalyst. Why Broadcom Stock Slumped Today
• Neutral Sentiment: Investors continue to search for clues on whether Broadcom can rebound from its post-earnings decline, with coverage focusing on earnings estimates and fair-value changes. Broadcom (AVGO) Stock Gets Fair Value Boost As Analysts Split On AI Outlook
• Negative Sentiment: Director Justine Page sold 1,602 shares of Broadcom stock, extending insider-selling headlines that can weigh on sentiment even if the sale is relatively small versus the company’s size. SEC Form 4 filing for Justine Page sale
• Negative Sentiment: Broadcom remains about 14% below its last earnings report level, and recent commentary suggests investors are still uneasy about whether the company’s strong results were enough to justify its premium valuation. Broadcom Inc. (AVGO) Down 14% Since Last Earnings Report: Can It Rebound?

Wall Street Analyst Weigh In

Several research firms recently weighed in on AVGO. Truist Financial increased their price target on shares of Broadcom from $545.00 to $550.00 and gave the company a "buy" rating in a research report on Thursday, June 4th. Morgan Stanley set a $502.00 price objective on shares of Broadcom and gave the stock an "overweight" rating in a research report on Thursday, June 4th. Evercore reissued an "outperform" rating and set a $582.00 target price on shares of Broadcom in a research report on Tuesday, May 19th. TD Cowen restated a "buy" rating and set a $500.00 price target on shares of Broadcom in a research note on Thursday, June 4th. Finally, Zacks Research cut shares of Broadcom from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 21st. One research analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Broadcom has a consensus rating of "Moderate Buy" and an average target price of $493.24.

Insider Transactions at Broadcom

In related news, Director Justine Page sold 2,018 shares of the 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 of the company's stock, valued at approximately $6,411,892. This represents a 10.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider S. Ram Velaga sold 17,260 shares of the firm's stock in a transaction dated Thursday, April 9th. The stock was sold at an average price of $352.12, for a total value of $6,077,591.20. Following the completion of the transaction, the insider owned 65,932 shares of the company's stock, valued at approximately $23,215,975.84. This represents a 20.75% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 60,987 shares of company stock valued at $21,899,980. 1.90% of the stock is currently owned by company insiders.

Broadcom Price Performance

Shares of NASDAQ:AVGO opened at $360.45 on Monday. The firm has a market capitalization of $1.71 trillion, a PE ratio of 60.08, a P/E/G ratio of 0.63 and a beta of 1.45. The company has a quick ratio of 2.01, a current ratio of 2.24 and a debt-to-equity ratio of 0.71. The company has a 50-day moving average price of $407.92 and a two-hundred day moving average price of $362.49. Broadcom Inc. has a twelve month low of $269.58 and a twelve month high of $495.00.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its quarterly earnings results 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 analysts' expectations of $22.13 billion. Broadcom had a net margin of 38.85% and a return on equity of 41.61%. Broadcom's revenue was up 47.9% compared to the same quarter last year. During the same period in the prior year, the company posted $1.58 EPS. Equities analysts forecast that Broadcom Inc. will post 10.24 EPS for the current year.

Broadcom Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 22nd were given a dividend of $0.65 per share. The ex-dividend date was Monday, June 22nd. This represents a $2.60 annualized dividend and a dividend yield of 0.7%. 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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