First Manhattan CO. LLC. Decreases Stock Holdings in Broadcom Inc. $AVGO

First Manhattan CO. LLC. lowered its stake in Broadcom Inc. (NASDAQ:AVGO) by 1.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,211,185 shares of the semiconductor manufacturer’s stock after selling 23,404 shares during the period. Broadcom makes up 2.0% of First Manhattan CO. LLC.’s holdings, making the stock its 10th biggest holding. First Manhattan CO. LLC.’s holdings in Broadcom were worth $765,291,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the stock. Capitolis Liquid Global Markets LLC increased its position in shares of Broadcom by 0.4% in the fourth quarter. Capitolis Liquid Global Markets LLC now owns 2,262,678 shares of the semiconductor manufacturer’s stock worth $783,113,000 after purchasing an additional 9,728 shares during the period. Chicago Wealth Management Inc. boosted its stake in Broadcom by 43.7% in the fourth quarter. Chicago Wealth Management Inc. now owns 1,249 shares of the semiconductor manufacturer’s stock valued at $432,000 after buying an additional 380 shares in the last quarter. Cinctive Capital Management LP bought a new position in Broadcom in the fourth quarter valued at about $5,222,000. City National Bank of Florida MSD grew its position in Broadcom by 21.0% in the fourth quarter. City National Bank of Florida MSD now owns 3,836 shares of the semiconductor manufacturer’s stock valued at $1,328,000 after acquiring an additional 667 shares during the last quarter. Finally, Clough Capital Partners L P grew its position in Broadcom by 4.6% in the fourth quarter. Clough Capital Partners L P now owns 101,175 shares of the semiconductor manufacturer’s stock valued at $35,017,000 after acquiring an additional 4,480 shares during the last quarter. Institutional investors own 76.43% of the company’s stock.

Key Stories Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: JPMorgan reiterated a bullish stance on Broadcom, saying the market may be underestimating its long-term AI opportunity and calling the shares attractive at current levels. Barrons article
• Positive Sentiment: Other coverage highlighted Broadcom’s “massive AI pipeline” and the company’s growing role in AI infrastructure, reinforcing expectations for multi-year revenue growth. Benzinga article
• Positive Sentiment: Broadcom announced pricing terms for cash tender offers to repurchase portions of its outstanding debt, a move that can support balance-sheet management and financial flexibility. PR Newswire article
• Neutral Sentiment: Commentary on Broadcom’s latest quarter noted strong AI-chip demand and revenue growth, but also pointed to gross margin pressure and cautious guidance, which may be keeping some investors from getting more aggressive. Zacks article
• Negative Sentiment: Some broader AI-stock commentary has compared today’s AI capex boom to the dot-com era, renewing valuation and cycle-risk concerns across the sector that could weigh on sentiment for AVGO. 247WallSt article

Broadcom Stock Performance

Shares of AVGO stock opened at $392.90 on Thursday. The business’s 50-day moving average price is $408.66 and its 200-day moving average price is $363.11. Broadcom Inc. has a 12 month low of $244.17 and a 12 month high of $495.00. The firm has a market capitalization of $1.87 trillion, a price-to-earnings ratio of 65.48, a PEG ratio of 0.66 and a beta of 1.41. The company has a current ratio of 2.24, a quick ratio of 2.01 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 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 firm had revenue of $22.19 billion for the quarter, compared to analyst estimates of $22.13 billion. During the same period last year, the firm posted $1.58 earnings per share. The business’s revenue for the quarter was up 47.9% on a year-over-year basis. Equities research analysts forecast that Broadcom Inc. will post 10.24 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 paid 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 presently 43.33%.

Wall Street Analysts Forecast Growth

AVGO has been the topic of a number of recent analyst reports. Susquehanna reiterated a “positive” rating and issued a $490.00 target price (up from $450.00) on shares of Broadcom in a research report on Thursday, May 28th. Wall Street Zen upgraded Broadcom from a “buy” rating to a “strong-buy” rating in a research report on Monday. TD Cowen reiterated a “buy” rating and issued a $500.00 target price on shares of Broadcom in a research report on Thursday, June 4th. JPMorgan Chase & Co. lifted their target price on Broadcom from $500.00 to $580.00 and gave the company an “overweight” rating in a research report on Thursday, June 4th. Finally, Zacks Research cut Broadcom from a “strong-buy” rating to a “hold” rating in a research 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 assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $490.13.

Insider Activity

In other news, Director Justine Page sold 2,018 shares of Broadcom stock in a transaction dated Wednesday, April 8th. The stock was sold at an average price of $353.00, for a total transaction of $712,354.00. Following the sale, the director directly owned 18,164 shares of the company’s stock, valued at approximately $6,411,892. This trade represents a 10.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Charlie B. Kawwas sold 10,000 shares of Broadcom stock in a transaction dated Wednesday, April 8th. The shares were sold at an average price of $345.23, for a total value of $3,452,300.00. Following the sale, the insider directly owned 787,184 shares in the company, valued at $271,759,532.32. The trade was a 1.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 51,233 shares of company stock valued at $18,125,134. 1.90% of the stock is currently owned by company 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.