Formidable Asset Management LLC Lowers Stock Position in Broadcom Inc. $AVGO

Formidable Asset Management LLC lessened its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 8.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,776 shares of the semiconductor manufacturer’s stock after selling 1,738 shares during the period. Broadcom accounts for approximately 0.9% of Formidable Asset Management LLC’s holdings, making the stock its 23rd biggest position. Formidable Asset Management LLC’s holdings in Broadcom were worth $5,811,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. ROSS JOHNSON & Associates LLC lifted its position in Broadcom by 1,320.0% during the 4th quarter. ROSS JOHNSON & Associates LLC now owns 71 shares of the semiconductor manufacturer’s stock valued at $25,000 after acquiring an additional 66 shares during the period. SWAN Capital LLC grew its holdings in Broadcom by 261.9% in the fourth quarter. SWAN Capital LLC now owns 76 shares of the semiconductor manufacturer’s stock worth $26,000 after purchasing an additional 55 shares during the period. Miller Global Investments LLC bought a new position in shares of Broadcom during the fourth quarter valued at approximately $31,000. Nvest Wealth Strategies Inc. purchased a new position in shares of Broadcom during the fourth quarter valued at approximately $33,000. Finally, Family CFO Inc purchased a new position in shares of Broadcom during the fourth quarter valued at approximately $35,000. 76.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

AVGO has been the topic of several recent research reports. Weiss Ratings downgraded Broadcom from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, June 26th. Mizuho lifted their price objective on Broadcom from $480.00 to $530.00 and gave the company an “outperform” rating in a research note on Thursday, June 4th. Truist Financial boosted their target price on Broadcom from $545.00 to $550.00 and gave the stock a “buy” rating in a report on Thursday, June 4th. Citigroup reissued a “buy” rating on shares of Broadcom in a research note on Thursday, June 4th. Finally, DA Davidson lifted their price target on Broadcom from $375.00 to $400.00 and gave the stock a “neutral” rating in a research report on Thursday, June 4th. One analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $493.24.

Insider Buying and Selling at Broadcom

In other Broadcom news, insider Charlie B. Kawwas sold 10,000 shares of the company’s stock in a transaction dated Wednesday, April 8th. The shares were sold at an average price of $345.23, for a total transaction of $3,452,300.00. Following the transaction, the insider owned 787,184 shares in the company, valued at approximately $271,759,532.32. This represents a 1.25% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Justine Page sold 2,018 shares of the firm’s stock in a transaction dated Wednesday, April 8th. The shares were 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 in the company, valued at approximately $6,411,892. The trade was a 10.00% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 60,987 shares of company stock worth $21,899,980. 1.90% of the stock is owned by company insiders.

Broadcom Stock Performance

AVGO stock opened at $369.34 on Thursday. The stock has a market capitalization of $1.76 trillion, a PE ratio of 61.56, a price-to-earnings-growth ratio of 0.66 and a beta of 1.45. Broadcom Inc. has a 12-month low of $262.73 and a 12-month high of $495.00. The company has a current ratio of 2.24, a quick ratio of 2.01 and a debt-to-equity ratio of 0.71. The stock’s 50 day simple moving average is $410.00 and its 200 day simple moving average is $362.34.

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

Broadcom Dividend Announcement

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

Key Stories Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: UBS reaffirmed a Buy rating on Broadcom and kept a $485 price target, citing strong AI ASIC demand and growth tied to customers like OpenAI and Anthropic. UBS Reaffirms Buy Rating on Broadcom (AVGO) Amid AI ASIC Demand and OpenAI, Anthropic Growth
• Positive Sentiment: Jefferies also reiterated a Buy rating and a $550 price target, reinforcing the view that Broadcom still has meaningful upside from current levels. Analyst updates Broadcom (AVGO) stock price target
• Positive Sentiment: Several articles highlighted Broadcom’s growing role in custom AI silicon and its partnership with OpenAI on the “Jalapeño” AI accelerator, which supports the bullish narrative around its AI revenue opportunity. What Broadcom (AVGO)’s Jalapeño AI Accelerator Partnership With OpenAI Means For Shareholders
• Neutral Sentiment: Erste Group Bank slightly raised FY2026 and FY2027 earnings estimates for Broadcom and kept a Buy rating, adding to the list of supportive but not market-moving analyst updates.
• Neutral Sentiment: Market commentary continues to frame Broadcom as a strong growth stock and a key AI beneficiary, but these are mostly reiterations of the bullish long-term thesis rather than new catalysts.
• Negative Sentiment: Director Justine Page sold 1,602 shares at an average price of $373.86, extending recent insider-selling headlines that can weigh on investor sentiment. SEC Form 4 filing for Justine Page sale
• Negative Sentiment: Broader articles about Broadcom’s recent slump and questions about valuation suggest investors are becoming more cautious after the stock’s strong run, even with bullish analysts arguing the weakness is a buying opportunity.

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.