Sterling Capital Management LLC Cuts Stake in Broadcom Inc. $AVGO

Sterling Capital Management LLC cut its stake in Broadcom Inc. (NASDAQ:AVGO) by 18.7% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 158,153 shares of the semiconductor manufacturer’s stock after selling 36,470 shares during the period. Broadcom makes up 0.9% of Sterling Capital Management LLC’s investment portfolio, making the stock its 23rd largest position. Sterling Capital Management LLC’s holdings in Broadcom were worth $48,950,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of AVGO. ROSS JOHNSON & Associates LLC raised its position in shares of Broadcom by 1,320.0% in the 4th quarter. ROSS JOHNSON & Associates LLC now owns 71 shares of the semiconductor manufacturer’s stock worth $25,000 after buying an additional 66 shares during the period. SWAN Capital LLC boosted its holdings in Broadcom by 261.9% in the fourth quarter. SWAN Capital LLC now owns 76 shares of the semiconductor manufacturer’s stock valued at $26,000 after acquiring an additional 55 shares during the last quarter. Miller Global Investments LLC purchased a new stake in Broadcom during the fourth quarter valued at about $31,000. Nvest Wealth Strategies Inc. acquired a new stake in Broadcom during the fourth quarter worth about $33,000. Finally, Family CFO Inc acquired a new stake in Broadcom during the fourth quarter worth about $35,000. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

AVGO has been the topic of several research analyst reports. Susquehanna reaffirmed a “positive” rating and issued a $490.00 price objective (up from $450.00) on shares of Broadcom in a research note on Thursday, May 28th. UBS Group set a $485.00 price target on shares of Broadcom and gave the company a “buy” rating in a research report on Thursday, June 4th. TD Cowen reiterated a “buy” rating and set a $500.00 price objective on shares of Broadcom in a research note on Thursday, June 4th. Seaport Research Partners reissued a “neutral” rating on shares of Broadcom in a research report on Wednesday, April 8th. Finally, Wells Fargo & Company reissued an “overweight” rating and issued a $545.00 target price (up from $430.00) on shares of Broadcom in a research note on Thursday, May 14th. One investment analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, Broadcom has a consensus rating of “Moderate Buy” and an average price target of $493.24.

Broadcom Stock Performance

Broadcom stock opened at $377.75 on Wednesday. The stock’s 50 day moving average price is $410.61 and its 200 day moving average price is $362.60. The firm has a market capitalization of $1.80 trillion, a PE ratio of 62.96, a price-to-earnings-growth ratio of 0.65 and a beta of 1.41. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.01 and a current ratio of 2.24. Broadcom Inc. has a one year low of $262.66 and a one year high of $495.00.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share (EPS) for the quarter, beating the consensus estimate 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 net margin of 38.85% and a return on equity of 41.61%. Broadcom’s revenue for the quarter was up 47.9% on a year-over-year basis. During the same quarter last year, the company earned $1.58 earnings per share. As a group, sell-side analysts expect that Broadcom Inc. will post 10.24 EPS for the current fiscal year.

Broadcom Announces Dividend

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

Broadcom News Summary

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Jefferies reiterated its Buy rating on Broadcom and kept a $550 price target, suggesting substantial upside from current levels. Analyst updates Broadcom (AVGO) stock price target
• Positive Sentiment: Erste Group raised its earnings estimates for Broadcom, including higher FY2026 and FY2027 EPS forecasts, reinforcing the view that earnings growth remains strong. Broadcom estimate update
• Positive Sentiment: Coverage around Broadcom’s partnership with OpenAI on the Jalapeño AI accelerator continues to support the company’s AI growth story and long-term demand outlook. What Broadcom (AVGO)’s Jalapeño AI Accelerator Partnership With OpenAI Means For Shareholders
• Neutral Sentiment: Several articles highlighted Broadcom’s recent weakness and “buy the dip” debate, indicating that investor sentiment is cautious but not turning bearish on fundamentals. Broadcom’s Stock Has Slumped Over 20% From Its Highs. These Experts Say They Would Buy the Dip
• Negative Sentiment: Reports of heavy insider selling over the past two weeks may weigh on sentiment, as investors often view large insider sales as a cautionary signal. Monster insider trading alert for Broadcom (AVGO) stock

Insider Activity

In other news, insider Charlie B. Kawwas sold 10,000 shares of Broadcom stock in a transaction dated Wednesday, April 8th. The stock was sold at an average price of $345.23, for a total transaction of $3,452,300.00. Following the sale, the insider directly owned 787,184 shares of the company’s stock, valued at approximately $271,759,532.32. The trade was a 1.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Mark David Brazeal sold 4,825 shares of the business’s stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $394.91, for a total value of $1,905,440.75. Following the completion of the transaction, the insider owned 269,989 shares in the company, valued at approximately $106,621,355.99. This trade represents a 1.76% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 59,385 shares of company stock worth $21,301,057 over the last three months. 1.90% of the stock is currently owned by corporate insiders.

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.