Broadcom Inc. $AVGO Shares Sold by Essex Financial Services Inc.

Essex Financial Services Inc. lowered its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 5.8% in the fourth quarter, Holdings Channel.com reports. The fund owned 19,140 shares of the semiconductor manufacturer’s stock after selling 1,174 shares during the quarter. Essex Financial Services Inc.’s holdings in Broadcom were worth $6,624,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Railway Pension Investments Ltd raised its holdings in shares of Broadcom by 44.4% during the fourth quarter. Railway Pension Investments Ltd now owns 813,692 shares of the semiconductor manufacturer’s stock valued at $281,619,000 after acquiring an additional 250,000 shares during the last quarter. Founders Financial Securities LLC raised its holdings in shares of Broadcom by 4.3% during the fourth quarter. Founders Financial Securities LLC now owns 25,205 shares of the semiconductor manufacturer’s stock valued at $8,724,000 after acquiring an additional 1,045 shares during the last quarter. Core Wealth Advisors LLC acquired a new position in shares of Broadcom during the fourth quarter valued at approximately $1,250,000. MUFG Securities EMEA plc raised its holdings in shares of Broadcom by 33.4% during the fourth quarter. MUFG Securities EMEA plc now owns 821,725 shares of the semiconductor manufacturer’s stock valued at $284,399,000 after acquiring an additional 205,697 shares during the last quarter. Finally, Texas Yale Capital Corp. increased its holdings in shares of Broadcom by 0.3% in the fourth quarter. Texas Yale Capital Corp. now owns 28,700 shares of the semiconductor manufacturer’s stock valued at $9,933,000 after purchasing an additional 90 shares during the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insiders Place Their Bets

In related news, insider Mark David Brazeal sold 50,488 shares of the stock in a transaction that occurred 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 transaction, the insider directly owned 278,141 shares in the company, valued at approximately $89,450,145.60. This represents a 15.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Charlie B. Kawwas sold 39,116 shares of the stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $321.61, for a total value of $12,580,096.76. Following the completion of the transaction, the insider owned 74,626 shares of the company’s stock, valued at $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. Over the last ninety days, insiders have sold 324,282 shares of company stock valued at $106,425,249. 1.90% of the stock is currently owned by insiders.

Trending Headlines about Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom beat fiscal Q2 expectations, reporting adjusted EPS of $2.44 versus the $2.40 consensus and revenue of $22.19 billion versus $22.13 billion expected. Broadcom Inc. Announces Second Quarter Fiscal Year 2026 Financial Results and Quarterly Dividend
• Positive Sentiment: AI semiconductor revenue more than doubled to $10.8 billion, showing Broadcom is benefiting from surging demand for custom AI accelerators and AI networking. Broadcom Revenue Climbs on AI Chip Demand
• Positive Sentiment: The company guided third-quarter revenue to about $29.4 billion, above the consensus estimate of roughly $28.3 billion, suggesting continued momentum in the AI build-out. Broadcom Inc. Announces Second Quarter Fiscal Year 2026 Financial Results and Quarterly Dividend
• Neutral Sentiment: Broadcom also announced its quarterly dividend of $0.65 per share, which supports the stock’s income appeal but is not likely the main driver of today’s move. Broadcom Inc. Announces Second Quarter Fiscal Year 2026 Financial Results and Quarterly Dividend
• Negative Sentiment: Despite strong AI growth, shares fell in after-hours trading because the outlook for AI semiconductor revenue and near-term expectations did not fully meet the market’s lofty bar after a big run-up in the stock. Broadcom revenue hits record on AI chip surge but outlook disappoints

Wall Street Analyst Weigh In

Several equities research analysts recently commented on AVGO shares. Wall Street Zen cut Broadcom from a “buy” rating to a “hold” rating in a report on Saturday, May 30th. Morgan Stanley increased their price target on Broadcom from $470.00 to $485.00 and gave the company an “overweight” rating in a report on Monday. Truist Financial increased their price target on Broadcom from $510.00 to $545.00 and gave the company a “buy” rating in a report on Thursday, March 5th. JPMorgan Chase & Co. increased their price target on Broadcom from $475.00 to $500.00 and gave the company an “overweight” rating in a report on Thursday, March 5th. Finally, Susquehanna reaffirmed a “positive” rating and issued a $490.00 price target (up from $450.00) on shares of Broadcom in a report on Thursday, May 28th. One investment analyst has rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $458.23.

Broadcom Trading Down 0.5%

Shares of Broadcom stock opened at $479.23 on Thursday. The firm has a market capitalization of $2.27 trillion, a price-to-earnings ratio of 93.60, a PEG ratio of 0.99 and a beta of 1.41. Broadcom Inc. has a fifty-two week low of $241.11 and a fifty-two week high of $495.00. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.73 and a current ratio of 1.90. The stock has a 50 day moving average of $392.87 and a 200 day moving average of $361.19.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share for the quarter, topping the consensus estimate of $2.40 by $0.04. The company had revenue of $22.19 billion during the quarter, compared to analyst estimates of $22.13 billion. Broadcom had a return on equity of 38.61% and a net margin of 36.57%.The firm’s revenue for the quarter was up 47.9% compared to the same quarter last year. During the same period in the prior year, the business posted $1.58 earnings per share. As a group, research analysts predict that Broadcom Inc. will post 9.91 earnings per share for the current year.

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.