DAVENPORT & Co LLC Trims Stake in Broadcom Inc. $AVGO

DAVENPORT & Co LLC cut its holdings in Broadcom Inc. (NASDAQ:AVGO) by 11.4% during the 4th quarter, Holdings Channel reports. The fund owned 557,279 shares of the semiconductor manufacturer’s stock after selling 71,824 shares during the period. Broadcom comprises 1.0% of DAVENPORT & Co LLC’s portfolio, making the stock its 18th biggest holding. DAVENPORT & Co LLC’s holdings in Broadcom were worth $193,278,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of AVGO. Teachers Insurance & Annuity Association of America purchased a new stake in shares of Broadcom in the 2nd quarter worth $28,000. JCIC Asset Management Inc. purchased a new position in Broadcom during the third quarter valued at $31,000. Miller Global Investments LLC purchased a new position in Broadcom during the fourth quarter valued at $31,000. Manning & Napier Advisors LLC bought a new stake in Broadcom during the third quarter valued at about $34,000. Finally, Evolution Wealth Management Inc. purchased a new stake in Broadcom in the second quarter worth about $36,000. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Wall Street Analyst Weigh In

AVGO has been the topic of several recent research reports. Royal Bank Of Canada decreased their price objective on Broadcom from $370.00 to $340.00 and set a “sector perform” rating on the stock in a research note on Monday, March 2nd. Wolfe Research upgraded Broadcom from a “peer perform” rating to an “outperform” rating and set a $400.00 price objective for the company in a research note on Friday, January 30th. Morgan Stanley increased their target price on shares of Broadcom from $462.00 to $470.00 and gave the stock an “overweight” rating in a report on Friday, March 6th. Bank of America decreased their target price on shares of Broadcom from $500.00 to $450.00 and set a “buy” rating on the stock in a research note on Thursday, March 5th. Finally, Citigroup lifted their price target on shares of Broadcom from $458.00 to $475.00 and gave the company a “buy” rating in a report on Thursday, March 5th. One investment analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $435.30.

Trending Headlines about Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: OpenAI partnership: Broadcom struck a multiyear deal to co-develop custom AI accelerators, positioning AVGO as a strategic supplier for OpenAI and signaling material addressable revenue from bespoke AI silicon and related infrastructure. OpenAI Just Became Broadcom’s Newest Chip Customer
• Positive Sentiment: Analyst upgrades: Erste Group sharply raised estimates (FY2026 to ~$9.80 EPS and FY2027 to ~$16.55 EPS), implying much stronger earnings power than consensus and supporting a higher valuation if AI wins scale as expected.
• Positive Sentiment: Thesis reinforcement from market commentary: Multiple bullish write-ups highlight Broadcom’s expanding role across custom AI silicon, networking and software for hyperscalers — a structural growth story that investors view as durable despite recent volatility. Broadcom (AVGO) Powers the AI Boom — Bullish despite the Pullback
• Neutral Sentiment: Price-target / multi‑year outlook pieces: Analysts and retail sites are publishing 3‑year AVGO price predictions and scenario analyses reflecting both upside from AI exposure and risk from lofty multiples. Broadcom Stock Price Prediction: Where Will AVGO Be in 3 Years?
• Neutral Sentiment: Buy-the-dip narratives: Several outlets argue the ~24% pullback is a buying opportunity tied to the OpenAI deal and secular AI demand, but these are thesis-driven and hinge on execution. Is the 24% Dip a Golden Buying Opportunity?
• Neutral Sentiment: Macro/sector context: Coverage noting that tech earnings have grown but some ETFs (and segments) lag share-price recovery, which can keep trading volatile for large-cap semiconductors like AVGO. As Tech Earnings Grow, This ETF Still Hasn’t Caught Up (AVGO)
• Negative Sentiment: Insider selling: Reports of insiders selling shares have raised near‑term sentiment concerns and may amplify downside during a broader pullback, even if strategic fundamentals remain intact. Broadcom Insiders Are Selling Stock. Is AVGO Finally at the End of the Road?

Broadcom Stock Performance

Shares of NASDAQ AVGO opened at $300.68 on Friday. The company has a market cap of $1.42 trillion, a P/E ratio of 58.73, a P/E/G ratio of 0.66 and a beta of 1.22. Broadcom Inc. has a 52-week low of $138.10 and a 52-week high of $414.61. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.73 and a current ratio of 1.90. The firm’s fifty day moving average is $327.00 and its two-hundred day moving average is $344.86.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 EPS for the quarter, beating the consensus estimate of $2.03 by $0.02. The business had revenue of $19.31 billion during the quarter, compared to the consensus estimate of $19.10 billion. Broadcom had a net margin of 36.57% and a return on equity of 38.61%. The business’s revenue was up 29.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.60 EPS. As a group, analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Monday, March 23rd will be given a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Monday, March 23rd. Broadcom’s payout ratio is currently 50.78%.

Insider Activity at Broadcom

In other Broadcom news, insider Charlie B. Kawwas sold 39,116 shares of the firm’s 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 $24,000,467.86. This trade represents a 34.39% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Kirsten M. Spears sold 36,292 shares of Broadcom stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $321.60, for a total value of $11,671,507.20. Following the completion of the sale, the chief financial officer directly owned 327,760 shares in the company, valued at approximately $105,407,616. The trade was a 9.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 403,049 shares of company stock valued at $133,459,315 in the last 90 days. 1.90% of the stock is currently owned by insiders.

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.