Westfield Capital Management Co. LP Sells 54,044 Shares of Broadcom Inc. $AVGO

Key Points

• Westfield Capital Management reduced its Broadcom stake by 4.6% in the fourth quarter, selling 54,044 shares and leaving it with 1.11 million shares worth about $385 million.
• Broadcom’s latest earnings were strong, with quarterly EPS of $2.44 beating estimates and revenue rising 47.9% year over year to $22.19 billion, driven by continued AI semiconductor demand.
• Analysts remain broadly bullish despite recent volatility, with several raising price targets and the consensus rating staying at “Moderate Buy” with an average target price of about $490.

Westfield Capital Management Co. LP lowered its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 4.6% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 1,112,318 shares of the semiconductor manufacturer's stock after selling 54,044 shares during the quarter. Broadcom accounts for 1.6% of Westfield Capital Management Co. LP's portfolio, making the stock its 12th biggest position. Westfield Capital Management Co. LP's holdings in Broadcom were worth $384,973,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AVGO. Miller Global Investments LLC bought a new stake in Broadcom in the fourth quarter valued at approximately $31,000. Nvest Wealth Strategies Inc. bought a new stake in Broadcom in the fourth quarter valued at approximately $33,000. Family CFO Inc bought a new stake in Broadcom in the fourth quarter valued at approximately $35,000. PayPay Securities Corp lifted its position in Broadcom by 88.9% in the fourth quarter. PayPay Securities Corp now owns 119 shares of the semiconductor manufacturer's stock valued at $41,000 after purchasing an additional 56 shares during the last quarter. Finally, Camelot Portfolios LLC bought a new stake in Broadcom in the fourth quarter valued at approximately $45,000. Institutional investors own 76.43% of the company's stock.

Analyst Ratings Changes

Several brokerages have weighed in on AVGO. JPMorgan Chase & Co. boosted their price objective on Broadcom from $500.00 to $580.00 and gave the company an "overweight" rating in a research report on Thursday. Rosenblatt Securities restated a "buy" rating and set a $500.00 target price on shares of Broadcom in a report on Thursday. Truist Financial upped their target price on Broadcom from $545.00 to $550.00 and gave the company a "buy" rating in a report on Thursday. Evercore restated an "outperform" rating and set a $582.00 target price on shares of Broadcom in a report on Tuesday, May 19th. Finally, Royal Bank Of Canada upped their target price on Broadcom from $360.00 to $400.00 and gave the company a "sector perform" rating in a report on Thursday. 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 presently has a consensus rating of "Moderate Buy" and an average target price of $490.13.

Broadcom News Summary

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom posted record quarterly revenue, beat earnings estimates, and said AI semiconductor demand remains strong, supporting the long-term growth story. Broadcom Q2 Earnings Surpasses Estimates, Revenues Surge Y/Y
• Positive Sentiment: Several analysts remain bullish and raised price targets after the pullback, arguing the market is overreacting to expectations rather than fundamentals. Goldman Sachs urges investors to buy Broadcom dip with still AI revenue trajectory intact
• Positive Sentiment: Management still expects AI revenue to reach $56 billion in fiscal 2026 and more than $100 billion in fiscal 2027, keeping the longer-term AI thesis intact. AVGO Shares Drop 13% Post Q2 Results: Buy, Sell or Hold on the Dip?
• Neutral Sentiment: Broadcom also declared a quarterly dividend, which is supportive for income investors but not a major near-term stock driver.
• Negative Sentiment: The stock is under pressure because the AI outlook, while strong, was not upgraded enough to satisfy investors who had priced in an even bigger upside surprise. Broadcom's sales and AI chip forecast comes in below expectations, shares tumble
• Negative Sentiment: The disappointment has spilled over into the semiconductor sector, pressuring peers such as AMD, Intel, Micron, and Marvell as investors reassess AI trade valuations. Intel, AMD stocks slide again in aftermath of Broadcom's weak outlook

Insider Buying and Selling

In related news, insider Charlie B. Kawwas sold 10,000 shares of the company's stock in a transaction on 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 directly owned 787,184 shares of the company's stock, valued at $271,759,532.32. This represents a 1.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Mark David Brazeal sold 50,488 shares of the company's stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $321.60, for a total value of $16,236,940.80. Following the completion of the sale, the insider directly owned 278,141 shares in the company, valued at approximately $89,450,145.60. The trade was a 15.36% 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 over the last 90 days. 1.90% of the stock is currently owned by company insiders.

Broadcom Price Performance

Shares of Broadcom stock opened at $385.73 on Monday. 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 market cap of $1.83 trillion, a PE ratio of 64.29, a P/E/G ratio of 0.70 and a beta of 1.41. The business has a 50 day moving average of $396.22 and a 200 day moving average of $362.04. Broadcom Inc. has a 52 week low of $241.11 and a 52 week high of $495.00.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its 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 during the quarter, compared to the consensus estimate of $22.13 billion. Broadcom had a return on equity of 41.61% and a net margin of 38.85%.The firm's revenue for the quarter was up 47.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.58 earnings per share. As a group, equities research analysts forecast that Broadcom Inc. will post 9.97 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. Investors of record on Monday, June 22nd will be paid a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Monday, June 22nd. Broadcom's dividend payout ratio is presently 43.33%.

About Broadcom

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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