Broadcom Inc. $AVGO Stock Position Cut by SVB Wealth LLC

SVB Wealth LLC cut its stake in Broadcom Inc. (NASDAQ:AVGO) by 20.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 139,375 shares of the semiconductor manufacturer’s stock after selling 35,592 shares during the quarter. Broadcom comprises about 2.8% of SVB Wealth LLC’s holdings, making the stock its 7th biggest holding. SVB Wealth LLC’s holdings in Broadcom were worth $43,138,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently modified their holdings of AVGO. RFG Holdings Inc. raised its stake in Broadcom by 0.3% in the first quarter. RFG Holdings Inc. now owns 8,499 shares of the semiconductor manufacturer’s stock worth $2,631,000 after buying an additional 26 shares in the last quarter. Baring Financial LLC boosted its position in Broadcom by 2.2% during the 4th quarter. Baring Financial LLC now owns 1,359 shares of the semiconductor manufacturer’s stock valued at $470,000 after acquiring an additional 29 shares in the last quarter. Five Oceans Advisors grew its holdings in shares of Broadcom by 0.4% during the 4th quarter. Five Oceans Advisors now owns 8,191 shares of the semiconductor manufacturer’s stock worth $2,835,000 after acquiring an additional 29 shares during the period. Solitude Financial Services grew its holdings in shares of Broadcom by 0.5% during the 1st quarter. Solitude Financial Services now owns 5,728 shares of the semiconductor manufacturer’s stock worth $1,773,000 after acquiring an additional 29 shares during the period. Finally, Financial Management Network Inc. grew its holdings in shares of Broadcom by 0.6% during the 1st quarter. Financial Management Network Inc. now owns 5,032 shares of the semiconductor manufacturer’s stock worth $1,557,000 after acquiring an additional 29 shares during the period. Institutional investors own 76.43% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on AVGO shares. Benchmark raised their target price on Broadcom from $485.00 to $545.00 and gave the company a “buy” rating in a research note on Thursday, June 4th. Zacks Research cut Broadcom from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 21st. Erste Group Bank upgraded Broadcom from a “hold” rating to a “buy” rating in a report on Friday, June 5th. Morgan Stanley set a $502.00 price objective on Broadcom and gave the stock an “overweight” rating in a report on Thursday, June 4th. Finally, TD Cowen restated a “buy” rating and set a $500.00 target price on shares of Broadcom in a report on Thursday, June 4th. One research analyst has rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Broadcom has an average rating of “Moderate Buy” and an average price target of $493.24.

Broadcom Stock Performance

Broadcom stock opened at $381.30 on Thursday. 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 capitalization of $1.81 trillion, a P/E ratio of 63.55, a PEG ratio of 0.67 and a beta of 1.41. The stock’s 50 day moving average is $412.37 and its 200 day moving average is $363.42. Broadcom Inc. has a twelve month low of $262.66 and a twelve month high of $495.00.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.40 by $0.04. The business had revenue of $22.19 billion during the quarter, compared to analysts’ expectations of $22.13 billion. Broadcom had a return on equity of 41.61% and a net margin of 38.85%.The firm’s quarterly revenue was up 47.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.58 earnings per share. On average, equities research analysts predict that Broadcom Inc. will post 10.24 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 22nd will be issued a dividend of $0.65 per share. The ex-dividend date is Monday, June 22nd. This represents a $2.60 annualized dividend and a dividend yield of 0.7%. Broadcom’s dividend payout ratio (DPR) is presently 43.33%.

Trending Headlines about Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom and OpenAI unveiled Jalapeño, a custom AI inference chip that could expand Broadcom’s role in AI infrastructure and deepen its long-term partnership with OpenAI. Reuters: OpenAI unveils custom chip it designed with Broadcom to boost its AI infrastructure
• Positive Sentiment: Early testing suggests the new chip delivers better performance per watt, which supports Broadcom’s AI efficiency story and could improve adoption with hyperscale data-center customers. GlobeNewswire: OpenAI and Broadcom Unveil LLM-Optimized Intelligence Processor
• Neutral Sentiment: Broadcom raised its tender offer for senior notes to $3 billion, a financing move that may affect investor views on leverage and capital allocation more than near-term earnings. MSN: Broadcom raises tender offer for its senior notes to $3 billion
• Neutral Sentiment: Commentary around AI-chip sector volatility and whether the AI trade is cooling adds mixed context, but does not change Broadcom’s core AI growth narrative. Benzinga: Broadcom, OpenAI Unveil ‘Jalapeño’ AI Inference Chip
• Negative Sentiment: Some prior reports noted weakness in the broader semiconductor complex and concerns about AI infrastructure spending, which could limit upside if the sector selloff continues. Yahoo Finance: Broadcom (AVGO) Stock Trades Down, Here Is Why

Insider Transactions at Broadcom

In other news, Director Harry L. You acquired 1,000 shares of Broadcom stock in a transaction on Thursday, June 11th. The stock was acquired at an average cost of $373.57 per share, for a total transaction of $373,570.00. Following the purchase, the director owned 38,466 shares in the company, valued at $14,369,743.62. This trade represents a 2.67% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mark David Brazeal sold 4,825 shares of Broadcom stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $394.91, for a total transaction of $1,905,440.75. Following the completion of the transaction, the insider directly owned 269,989 shares of the company’s stock, valued at $106,621,355.99. This trade represents a 1.76% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 59,385 shares of company stock worth $21,301,057 over the last quarter. Corporate insiders own 1.90% of the company’s stock.

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.