Bridges Investment Management Inc. Sells 22,443 Shares of Broadcom Inc. $AVGO

Bridges Investment Management Inc. lessened its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 6.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 347,480 shares of the semiconductor manufacturer’s stock after selling 22,443 shares during the period. Broadcom makes up about 1.5% of Bridges Investment Management Inc.’s portfolio, making the stock its 18th largest holding. Bridges Investment Management Inc.’s holdings in Broadcom were worth $120,263,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in AVGO. Miller Global Investments LLC acquired a new stake in shares of Broadcom during the fourth quarter worth $31,000. Nvest Wealth Strategies Inc. bought a new position in shares of Broadcom during the fourth quarter valued at about $33,000. Family CFO Inc bought a new position in shares of Broadcom during the fourth quarter valued at about $35,000. PayPay Securities Corp increased its holdings in Broadcom by 88.9% during the fourth quarter. PayPay Securities Corp now owns 119 shares of the semiconductor manufacturer’s stock worth $41,000 after buying an additional 56 shares during the last quarter. Finally, Cherry Tree Wealth Management LLC increased its holdings in Broadcom by 44.9% during the fourth quarter. Cherry Tree Wealth Management LLC now owns 129 shares of the semiconductor manufacturer’s stock worth $45,000 after buying an additional 40 shares during the last quarter. Institutional investors own 76.43% of the company’s stock.

Analyst Upgrades and Downgrades

AVGO has been the topic of a number of recent research reports. Zacks Research cut Broadcom from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 21st. Oppenheimer reaffirmed an “outperform” rating and issued a $535.00 target price (up from $450.00) on shares of Broadcom in a research note on Thursday. Susquehanna reaffirmed a “positive” rating and issued a $490.00 target price (up from $450.00) on shares of Broadcom in a research note on Thursday, May 28th. Evercore reaffirmed an “outperform” rating and issued a $582.00 target price on shares of Broadcom in a research report on Tuesday, May 19th. Finally, TD Cowen reiterated a “buy” rating and issued a $500.00 price target on shares of Broadcom in a research note on Thursday. One research analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $490.13.

Broadcom Stock Down 7.9%

NASDAQ AVGO opened at $385.73 on Friday. The company has a market capitalization of $1.83 trillion, a P/E ratio of 64.29, a P/E/G ratio of 0.86 and a beta of 1.41. The stock has a 50 day moving average price of $396.22 and a 200-day moving average price of $361.90. Broadcom Inc. has a one year low of $241.11 and a one year high of $495.00. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.73 and a current ratio of 2.24.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share (EPS) for the quarter, topping 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%.Broadcom’s revenue was up 47.9% on a year-over-year basis. During the same period last year, the company earned $1.58 earnings per share. As a group, equities analysts predict that Broadcom Inc. will post 9.97 EPS for the current fiscal year.

Broadcom Dividend Announcement

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

Insider Buying and Selling at Broadcom

In other news, insider Mark David Brazeal sold 50,488 shares of Broadcom stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $321.60, for a total transaction 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. This trade represents a 15.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Justine Page sold 2,018 shares of Broadcom stock in a transaction on Wednesday, April 8th. The stock was sold at an average price of $353.00, for a total value 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 trade represents a 10.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 324,282 shares of company stock valued at $106,425,249. 1.90% of the stock is owned by company insiders.

Key Broadcom News

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

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.