Cerity Partners LLC Has $1.03 Billion Position in Broadcom Inc. $AVGO

Cerity Partners LLC lifted its stake in Broadcom Inc. (NASDAQ:AVGO) by 3.3% in the fourth quarter, HoldingsChannel.com reports. The firm owned 2,968,332 shares of the semiconductor manufacturer’s stock after purchasing an additional 95,838 shares during the quarter. Broadcom comprises 1.5% of Cerity Partners LLC’s investment portfolio, making the stock its 11th largest position. Cerity Partners LLC’s holdings in Broadcom were worth $1,027,338,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Miller Global Investments LLC acquired a new stake in Broadcom during the 4th quarter worth $31,000. Nvest Wealth Strategies Inc. acquired a new stake in Broadcom during the 4th quarter worth $33,000. Family CFO Inc acquired a new stake in Broadcom during the 4th quarter worth $35,000. PayPay Securities Corp grew its holdings in Broadcom by 88.9% during the 4th quarter. PayPay Securities Corp now owns 119 shares of the semiconductor manufacturer’s stock worth $41,000 after acquiring an additional 56 shares during the period. Finally, Camelot Portfolios LLC acquired a new stake in Broadcom during the 4th quarter worth $45,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Wall Street Analysts Forecast Growth

AVGO has been the subject of a number of analyst reports. Mizuho lifted their target price on shares of Broadcom from $480.00 to $530.00 and gave the stock an “outperform” rating in a report on Thursday, June 4th. JPMorgan Chase & Co. lifted their target price on shares of Broadcom from $500.00 to $580.00 and gave the stock an “overweight” rating in a report on Thursday, June 4th. Erste Group Bank raised shares of Broadcom from a “hold” rating to a “buy” rating in a report on Friday, June 5th. Rosenblatt Securities reaffirmed a “buy” rating and set a $500.00 target price on shares of Broadcom in a report on Thursday, June 4th. Finally, Susquehanna reaffirmed a “positive” rating and set a $490.00 target price (up from $450.00) on shares of Broadcom in a report on Thursday, May 28th. One research analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $490.13.

Insider Activity

In other news, insider S. Ram Velaga sold 38,841 shares of Broadcom stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $321.60, for a total transaction of $12,491,265.60. Following the transaction, the insider directly owned 96,147 shares of the company’s stock, valued at $30,920,875.20. This trade represents a 28.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Kirsten M. Spears sold 36,292 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 $11,671,507.20. Following the transaction, the chief financial officer directly owned 327,760 shares in the company, valued at approximately $105,407,616. This represents a 9.97% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 324,282 shares of company stock valued at $106,425,249. 1.90% of the stock is owned by company insiders.

Key Stories Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Several analysts and commentators argue the pullback is overdone, pointing to Broadcom’s strong fundamentals: revenue growth of about 48%, AI semiconductor revenue up 143%, and more than $30 billion in AI bookings. Bullish pieces say the stock looks attractive on cash flow and long-term AI demand. Article Title
• Positive Sentiment: Broadcom also gained support from a major AI infrastructure tie-up with Apollo Global Management and Blackstone, which are backing a $35 billion capacity expansion for Anthropic using Broadcom’s custom chips and networking gear. That reinforces the company’s role in the AI buildout. Article Title
• Neutral Sentiment: Some analysts remain constructive on the stock over the long term, citing expected EPS growth of more than 50% over the next five years and multiple recent upgrades/price-target increases. Article Title
• Neutral Sentiment: Other coverage highlights a “buy the dip” case after the post-earnings reset, with investors watching whether AI demand and margins stay strong enough to justify the premium valuation. Article Title
• Negative Sentiment: The main headwind is that Broadcom’s stock has been hit by a broader chip rotation/correction, with semiconductor names sold off as investors take profits from the AI trade. Broadcom has been singled out as one of the biggest laggards in that move. Article Title
• Negative Sentiment: Investors are also worried that Broadcom’s premium valuation leaves little room for error after its strong quarter, especially as guidance for AI revenue was viewed as less aggressive than hoped. Article Title
• Negative Sentiment: New commentary from Broadcom’s CEO that the company will focus only on chips, not a broader AI platform strategy, appears to have unnerved some AI-focused investors and added to the selloff. Article Title

Broadcom Trading Down 5.1%

Shares of NASDAQ AVGO opened at $372.10 on Thursday. The company’s fifty day moving average is $401.36 and its 200-day moving average is $362.87. The stock has a market cap of $1.76 trillion, a price-to-earnings ratio of 62.02, a P/E/G ratio of 0.71 and a beta of 1.41. Broadcom Inc. has a twelve month low of $243.80 and a twelve month high of $495.00. The company has a quick ratio of 2.01, a current ratio of 2.24 and a debt-to-equity ratio of 0.71.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share for the quarter, topping 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%. The business’s quarterly revenue was up 47.9% compared to the same quarter last year. During the same period last year, the firm posted $1.58 earnings per share. Equities research analysts predict that Broadcom Inc. will post 9.97 EPS for the current year.

Broadcom Announces Dividend

The company also recently declared 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 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Monday, June 22nd. Broadcom’s dividend payout ratio (DPR) 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.