Intermede Investment Partners Ltd Cuts Position in Broadcom Inc. $AVGO

Intermede Investment Partners Ltd reduced its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 4.8% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 220,777 shares of the semiconductor manufacturer’s stock after selling 11,012 shares during the period. Broadcom makes up 3.1% of Intermede Investment Partners Ltd’s holdings, making the stock its 14th biggest holding. Intermede Investment Partners Ltd’s holdings in Broadcom were worth $76,411,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Miller Global Investments LLC purchased a new stake in shares of Broadcom during the 4th quarter valued at about $31,000. Nvest Wealth Strategies Inc. purchased a new stake in shares of Broadcom during the 4th quarter valued at about $33,000. Family CFO Inc purchased a new stake in shares of Broadcom during the 4th quarter valued at about $35,000. PayPay Securities Corp raised its holdings in shares of Broadcom by 88.9% during the 4th quarter. PayPay Securities Corp now owns 119 shares of the semiconductor manufacturer’s stock valued at $41,000 after buying an additional 56 shares during the period. Finally, Camelot Portfolios LLC purchased a new stake in shares of Broadcom during the 4th quarter valued at about $45,000. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

More Broadcom News

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom unveiled new BCM68850 and Wi‑Fi 8 home gateway products that combine 50G fiber, an on-chip NPU, and edge-AI capabilities, strengthening its position in next-generation consumer networking and AI-at-the-edge use cases. Article: Broadcom’s BCM68850 Boosts AVGO’s Edge AI Push: More Upside Ahead?
• Positive Sentiment: Broadcom announced a partnership with Samsung Electronics to launch an integrated 5G and Wi‑Fi 8 fixed wireless access platform, expanding its broadband footprint and supporting demand for its networking silicon. Article: Broadcom Unveils World’s First Integrated 5G and Wi-Fi 8 FWA Platform in Collaboration with Samsung Electronics
• Positive Sentiment: Broadcom also launched what it says are the industry’s first integrated Wi‑Fi 8 SoCs for mesh and multi-gigabit routers, adding another catalyst for its connectivity and home-networking business. Article: Broadcom Delivers Industry’s First Integrated Wi-Fi 8 SoCs to Power Next-Gen Mesh and Multi-Gigabit Routers
• Positive Sentiment: Evercore ISI raised its price target on Broadcom and kept an Outperform rating, reflecting confidence in the company’s AI infrastructure opportunity and supporting the stock’s momentum. Article: Broadcom (AVGO) Could Be Positioned For The Next Big Shift In AI Infrastructure
• Positive Sentiment: Analyst commentary continues to frame Broadcom as a “safe” long-term AI and networking holding, which may be helping sentiment as the stock approaches recent highs. Article: AI Can’t Reach the Real World Without These 3 Stocks
• Neutral Sentiment: The stock is also drawing attention because it is trading near its 52-week high ahead of earnings, which may keep volatility elevated as investors weigh whether the current valuation is fully priced in. Article: Broadcom Nearing 52-Week High: Buy, Sell or Hold?

Insider Activity

In other news, Director Justine Page sold 2,018 shares of Broadcom stock in a transaction that occurred 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 completion of the transaction, the director owned 18,164 shares in the company, valued at approximately $6,411,892. This trade represents a 10.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider S. Ram Velaga sold 8,000 shares of the business’s stock in a transaction that occurred on Friday, April 10th. The shares were sold at an average price of $370.52, for a total value of $2,964,160.00. Following the completion of the sale, the insider owned 57,932 shares of the company’s stock, valued at $21,464,964.64. This trade represents a 12.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 324,282 shares of company stock worth $106,425,249 over the last quarter. Corporate insiders own 1.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on AVGO shares. Evercore reiterated an “outperform” rating and set a $582.00 target price on shares of Broadcom in a report on Tuesday, May 19th. Wolfe Research upgraded Broadcom from a “peer perform” rating to an “outperform” rating and set a $400.00 target price on the stock in a report on Friday, January 30th. Erste Group Bank downgraded Broadcom from a “buy” rating to a “hold” rating in a report on Thursday, April 2nd. Weiss Ratings upgraded Broadcom from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday. Finally, UBS Group reiterated a “buy” rating and set a $490.00 target price (up from $475.00) on shares of Broadcom in a report on Monday, May 18th. One analyst has rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $454.55.

Broadcom Price Performance

Shares of NASDAQ AVGO opened at $426.58 on Friday. Broadcom Inc. has a fifty-two week low of $234.90 and a fifty-two week high of $442.36. The business has a 50 day moving average price of $380.90 and a two-hundred day moving average price of $357.94. The company has a quick ratio of 1.73, a current ratio of 1.90 and a debt-to-equity ratio of 0.80. The firm has a market cap of $2.02 trillion, a PE ratio of 83.32, a price-to-earnings-growth ratio of 0.87 and a beta of 1.43.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 earnings per share for the quarter, beating analysts’ consensus estimates of $2.03 by $0.02. Broadcom had a return on equity of 38.61% and a net margin of 36.57%.The firm had revenue of $19.31 billion during the quarter, compared to analyst estimates of $19.10 billion. During the same quarter last year, the firm earned $1.60 EPS. Broadcom’s quarterly revenue was up 29.5% on a year-over-year basis. Sell-side analysts expect that Broadcom Inc. will post 9.91 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Monday, March 23rd were paid a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date was Monday, March 23rd. Broadcom’s dividend payout ratio (DPR) is 50.78%.

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.