Broadcom Inc. $AVGO Shares Sold by Miramar Capital LLC

Miramar Capital LLC reduced its stake in Broadcom Inc. (NASDAQ:AVGO) by 9.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 72,584 shares of the semiconductor manufacturer’s stock after selling 7,974 shares during the period. Broadcom makes up about 5.5% of Miramar Capital LLC’s investment portfolio, making the stock its 3rd biggest holding. Miramar Capital LLC’s holdings in Broadcom were worth $25,121,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in shares of Broadcom by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 482,707,302 shares of the semiconductor manufacturer’s stock valued at $167,064,997,000 after acquiring an additional 3,919,715 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Broadcom by 1.4% during the fourth quarter. Geode Capital Management LLC now owns 111,277,280 shares of the semiconductor manufacturer’s stock valued at $38,396,634,000 after acquiring an additional 1,548,699 shares in the last quarter. Norges Bank acquired a new stake in shares of Broadcom during the fourth quarter valued at about $24,252,196,000. Invesco Ltd. grew its stake in shares of Broadcom by 1.8% during the third quarter. Invesco Ltd. now owns 39,149,651 shares of the semiconductor manufacturer’s stock valued at $12,915,861,000 after acquiring an additional 700,021 shares in the last quarter. Finally, Legal & General Group Plc grew its stake in shares of Broadcom by 2.3% during the third quarter. Legal & General Group Plc now owns 33,450,786 shares of the semiconductor manufacturer’s stock valued at $11,035,749,000 after acquiring an additional 748,709 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Broadcom News Summary

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

Analyst Ratings Changes

Several brokerages have recently weighed in on AVGO. Benchmark raised their target price on Broadcom from $485.00 to $545.00 and gave the company a “buy” rating in a research note on Thursday, June 4th. Truist Financial raised their target price on Broadcom from $545.00 to $550.00 and gave the company a “buy” rating in a research note on Thursday, June 4th. KeyCorp restated an “overweight” rating and set a $575.00 target price (up from $500.00) on shares of Broadcom in a research note on Thursday, June 4th. Susquehanna restated a “positive” rating and set a $490.00 target price (up from $450.00) on shares of Broadcom in a research note on Thursday, May 28th. Finally, The Goldman Sachs Group restated a “buy” rating and set a $525.00 target price on shares of Broadcom in a research note on Thursday, June 4th. One investment analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $490.13.

Broadcom Stock Performance

Shares of AVGO 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 company’s 50-day simple moving average is $401.36 and its 200-day simple moving average is $362.87. Broadcom Inc. has a one year low of $243.80 and a one year high of $495.00. The stock has a market capitalization of $1.76 trillion, a price-to-earnings ratio of 62.02, a PEG ratio of 0.71 and a beta of 1.41.

Broadcom (NASDAQ:AVGO) last issued its earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.40 by $0.04. Broadcom had a net margin of 38.85% and a return on equity of 41.61%. The firm had revenue of $22.19 billion for the quarter, compared to analysts’ expectations of $22.13 billion. During the same quarter last year, the company posted $1.58 earnings per share. Broadcom’s revenue was up 47.9% on a year-over-year basis. Equities analysts anticipate that Broadcom Inc. will post 9.97 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

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

Insider Buying and Selling at Broadcom

In other Broadcom news, CFO Kirsten M. Spears sold 36,292 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $105,407,616. This trade represents a 9.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Charlie B. Kawwas sold 39,116 shares of the firm’s stock in a transaction dated 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 directly owned 74,626 shares in the company, valued at $24,000,467.86. This represents a 34.39% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 324,282 shares of company stock worth $106,425,249. Insiders own 1.90% of the company’s stock.

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.