Broadcom Inc. $AVGO Shares Sold by Worth Asset Management LLC

Worth Asset Management LLC decreased its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 59.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,552 shares of the semiconductor manufacturer’s stock after selling 3,678 shares during the quarter. Worth Asset Management LLC’s holdings in Broadcom were worth $790,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. ROSS JOHNSON & Associates LLC increased its stake 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 acquiring an additional 66 shares during the last quarter. SWAN Capital LLC grew its holdings in shares of 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 purchasing an additional 55 shares during the period. Miller Global Investments LLC acquired a new stake in Broadcom during the fourth quarter worth about $31,000. Nvest Wealth Strategies Inc. purchased a new position in Broadcom during the fourth quarter worth about $33,000. Finally, Family CFO Inc acquired a new position in Broadcom in the 4th quarter valued at about $35,000. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Key Stories Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom and OpenAI unveiled Jalapeño, a custom AI inference chip that could strengthen Broadcom’s role in next-generation AI infrastructure and generate new demand for its networking and accelerator products. Reuters article on OpenAI/Broadcom custom chip
• Positive Sentiment: Broadcom was also tied to a new $35 billion AI platform aimed at expanding data-center compute capacity, reinforcing the company’s exposure to multi-year AI spending. Yahoo Finance article on AI platform
• Neutral Sentiment: Market commentary suggested semiconductor weakness may be a buying opportunity, but broader AI sentiment remains uneven as investors question which parts of the ecosystem will see the biggest payoff. 247WallSt article on chip stocks
• Neutral Sentiment: Broadcom’s short-interest update reported 0 shares outstanding, which does not provide a meaningful signal for investors.
• Negative Sentiment: Despite the positive AI headlines, AVGO has also been pressured by broader semiconductor volatility and reports of weakness in parts of the AI-chip complex. Yahoo Finance article on AVGO weakness

Analyst Ratings Changes

A number of brokerages have recently issued reports on AVGO. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $515.00 price target (up from $430.00) on shares of Broadcom in a report on Thursday, June 4th. UBS Group set a $485.00 price objective on Broadcom and gave the stock a “buy” rating in a research report on Thursday, June 4th. Citigroup restated a “buy” rating on shares of Broadcom in a research report on Thursday, June 4th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $525.00 price target on shares of Broadcom in a research note on Thursday, June 4th. Finally, Zacks Research cut Broadcom from a “strong-buy” rating to a “hold” rating in a report 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 stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $493.24.

Insider Transactions at Broadcom

In other Broadcom news, Director Harry L. You purchased 1,000 shares of the firm’s stock in a transaction on Thursday, June 11th. The stock was bought at an average price of $373.57 per share, with a total value of $373,570.00. Following the transaction, the director directly owned 38,466 shares of the company’s stock, valued at approximately $14,369,743.62. This represents a 2.67% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Gayla J. Delly sold 1,000 shares of the company’s stock in a transaction on Thursday, April 9th. The stock was sold at an average price of $358.31, for a total value of $358,310.00. Following the sale, the director directly owned 32,352 shares in the company, valued at $11,592,045.12. This represents a 3.00% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 59,385 shares of company stock worth $21,301,057. 1.90% of the stock is owned by corporate insiders.

Broadcom Stock Performance

NASDAQ:AVGO opened at $378.91 on Friday. Broadcom Inc. has a fifty-two week low of $262.66 and a fifty-two week high of $495.00. 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 company has a 50 day moving average price of $412.34 and a 200 day moving average price of $363.34. The stock has a market capitalization of $1.80 trillion, a P/E ratio of 63.15, a PEG ratio of 0.67 and a beta of 1.41.

Broadcom (NASDAQ:AVGO) last announced its earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.40 by $0.04. Broadcom had a return on equity of 41.61% and a net margin of 38.85%.The company had revenue of $22.19 billion for the quarter, compared to analyst estimates of $22.13 billion. During the same quarter in the previous year, the company earned $1.58 earnings per share. The firm’s quarterly revenue was up 47.9% compared to the same quarter last year. Equities research analysts forecast that Broadcom Inc. will post 10.24 EPS for the current year.

Broadcom Dividend Announcement

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