Miramar Capital LLC Cuts Stake in Broadcom Inc. $AVGO

Miramar Capital LLC lessened its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 9.9% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 72,584 shares of the semiconductor manufacturer’s stock after selling 7,974 shares during the quarter. Broadcom accounts for 5.5% of Miramar Capital LLC’s investment portfolio, making the stock its 3rd biggest position. Miramar Capital LLC’s holdings in Broadcom were worth $25,121,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Baring Financial LLC raised its holdings in shares of Broadcom by 2.2% during the fourth quarter. Baring Financial LLC now owns 1,359 shares of the semiconductor manufacturer’s stock valued at $470,000 after buying an additional 29 shares during the last quarter. Five Oceans Advisors raised its holdings in shares of Broadcom by 0.4% during the fourth quarter. Five Oceans Advisors now owns 8,191 shares of the semiconductor manufacturer’s stock valued at $2,835,000 after buying an additional 29 shares during the last quarter. Planning Alternatives Ltd. ADV raised its holdings in shares of Broadcom by 1.4% during the third quarter. Planning Alternatives Ltd. ADV now owns 2,168 shares of the semiconductor manufacturer’s stock valued at $715,000 after buying an additional 30 shares during the last quarter. Bell Investment Advisors Inc raised its holdings in shares of Broadcom by 1.9% during the third quarter. Bell Investment Advisors Inc now owns 1,638 shares of the semiconductor manufacturer’s stock valued at $540,000 after buying an additional 30 shares during the last quarter. Finally, Bare Financial Services Inc raised its holdings in shares of Broadcom by 11.6% during the third quarter. Bare Financial Services Inc now owns 299 shares of the semiconductor manufacturer’s stock valued at $99,000 after buying an additional 31 shares during the last quarter. Institutional investors own 76.43% of the company’s stock.

Insider Buying and Selling at Broadcom

In other Broadcom news, CFO Kirsten M. Spears sold 36,292 shares of Broadcom stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $321.60, for a total value of $11,671,507.20. Following the transaction, the chief financial officer owned 327,760 shares in the company, valued at approximately $105,407,616. The trade was a 9.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Charlie B. Kawwas sold 39,116 shares of Broadcom stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $321.61, for a total transaction of $12,580,096.76. Following the completion of the transaction, the insider owned 74,626 shares in the company, valued at approximately $24,000,467.86. This trade represents a 34.39% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 324,282 shares of company stock worth $106,425,249. 1.90% of the stock is owned by corporate insiders.

Broadcom Trading Down 5.1%

Broadcom stock opened at $372.10 on Thursday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.01 and a current ratio of 2.24. The firm has a market cap of $1.76 trillion, a price-to-earnings ratio of 62.02, a price-to-earnings-growth ratio of 0.71 and a beta of 1.41. Broadcom Inc. has a 1 year low of $243.80 and a 1 year high of $495.00. The firm’s 50 day moving average price is $401.36 and its two-hundred day moving average price is $362.87.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.40 by $0.04. The firm had revenue of $22.19 billion for the quarter, compared to analyst estimates of $22.13 billion. Broadcom had a net margin of 38.85% and a return on equity of 41.61%. The firm’s quarterly revenue was up 47.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.58 earnings per share. On average, research analysts predict that Broadcom Inc. will post 9.97 EPS for the current fiscal year.

Broadcom Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Mizuho raised their price objective on shares of Broadcom from $480.00 to $530.00 and gave the company an “outperform” rating in a research note on Thursday, June 4th. Royal Bank Of Canada raised their price objective on shares of Broadcom from $360.00 to $400.00 and gave the company a “sector perform” rating in a research note on Thursday, June 4th. Citigroup reiterated a “buy” rating on shares of Broadcom in a research note on Thursday, June 4th. Truist Financial raised their price objective on shares of Broadcom from $545.00 to $550.00 and gave the company a “buy” rating in a research note on Thursday, June 4th. Finally, Zacks Research lowered shares of Broadcom from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 21st. One equities 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’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $490.13.

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

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.