Birinyi Associates Inc. Sells 4,521 Shares of Broadcom Inc. $AVGO

Birinyi Associates Inc. reduced its stake in Broadcom Inc. (NASDAQ:AVGO) by 17.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 21,401 shares of the semiconductor manufacturer’s stock after selling 4,521 shares during the period. Broadcom comprises approximately 1.8% of Birinyi Associates Inc.’s investment portfolio, making the stock its 13th largest position. Birinyi Associates Inc.’s holdings in Broadcom were worth $6,624,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Fullerton Advisors LLC boosted its position in Broadcom by 1.3% in the first quarter. Fullerton Advisors LLC now owns 1,989 shares of the semiconductor manufacturer’s stock valued at $616,000 after buying an additional 25 shares in the last quarter. NORTHSTAR ASSET MANAGEMENT Co grew its stake in shares of Broadcom by 0.5% during the first quarter. NORTHSTAR ASSET MANAGEMENT Co now owns 5,350 shares of the semiconductor manufacturer’s stock worth $1,656,000 after buying an additional 25 shares during the last quarter. RFG Holdings Inc. increased its holdings in shares of Broadcom by 0.3% during the first quarter. RFG Holdings Inc. now owns 8,499 shares of the semiconductor manufacturer’s stock worth $2,631,000 after buying an additional 26 shares in the last quarter. Yukon Wealth Management Inc. increased its holdings in shares of Broadcom by 1.1% during the first quarter. Yukon Wealth Management Inc. now owns 2,501 shares of the semiconductor manufacturer’s stock worth $774,000 after buying an additional 26 shares in the last quarter. Finally, Capital Planning LLC lifted its stake in shares of Broadcom by 0.7% in the 1st quarter. Capital Planning LLC now owns 4,044 shares of the semiconductor manufacturer’s stock valued at $1,252,000 after acquiring an additional 28 shares during the last quarter. 76.43% of the stock is owned by institutional investors.

Key Broadcom News

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom announced a long-term strategic commitment with Standard Chartered to modernize global banking infrastructure using a secure private cloud foundation, highlighting another enterprise customer win and supporting the company’s recurring infrastructure-software and semiconductor growth story. Standard Chartered Selects Broadcom to Deliver Secure, Always-On Banking Services at Global Scale
• Positive Sentiment: Multiple commentaries framed Broadcom as a core AI beneficiary, with articles saying its AI moat is expanding and that it remains one of the biggest winners from AI infrastructure spending. Broadcom’s AI Moat Keeps Expanding
• Positive Sentiment: Analysts have been boosting price targets despite recent weakness, suggesting Wall Street still expects meaningful upside if Broadcom’s AI and custom-chip momentum continues. As Shares Fall, Analyst Are Boosting Their Broadcom Price Targets
• Neutral Sentiment: Broadcom remains a frequent topic in bullish valuation pieces and long-term price-prediction articles, but these are mainly sentiment drivers rather than immediate catalysts. Price Prediction: Nvidia, AMD & Broadcom-Our Bold Price Predictions for 2029
• Negative Sentiment: Semiconductor shares sold off broadly on worries that AI capex growth may be slowing, and Broadcom was caught up in the sector-wide decline. Marvell Drops 8% as AI Capex Slowdown Fears Weigh on Chips; Broadcom, AMD, and Intel Slide
• Negative Sentiment: An insider sale by Broadcom executive Mark David Brazeal also weighed on sentiment, as investors often view large insider selling as a caution sign even when fundamentals remain strong. Broadcom Inc. (NASDAQ:AVGO) Insider Mark David Brazeal Sells 25,000 Shares

Insider Activity

In other news, Director Justine Page sold 1,602 shares of the stock in a transaction on Monday, June 29th. The shares were sold at an average price of $373.86, for a total transaction of $598,923.72. Following the completion of the sale, the director directly owned 17,426 shares in the company, valued at $6,514,884.36. This represents a 8.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Harry L. You bought 1,000 shares of the stock in a transaction that occurred on Thursday, June 11th. The shares were purchased at an average cost of $373.57 per share, with a total value of $373,570.00. Following the purchase, the director directly owned 38,466 shares of the company’s stock, valued at $14,369,743.62. The trade was a 2.67% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders sold 61,644 shares of company stock valued at $24,016,214. Company insiders own 1.90% of the company’s stock.

Broadcom Stock Down 5.0%

Shares of NASDAQ:AVGO opened at $374.45 on Friday. The firm has a market cap of $1.78 trillion, a P/E ratio of 62.41, a P/E/G ratio of 0.69 and a beta of 1.45. Broadcom Inc. has a 12-month low of $273.00 and a 12-month high of $495.00. The business has a fifty day simple moving average of $402.47 and a 200 day simple moving average of $365.27. The company has a quick ratio of 2.01, a current ratio of 2.24 and a debt-to-equity ratio of 0.71.

Broadcom (NASDAQ:AVGO) last announced its earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 EPS for the quarter, beating the consensus estimate of $2.40 by $0.04. The business had revenue of $22.19 billion for the quarter, compared to analysts’ expectations of $22.13 billion. Broadcom had a return on equity of 41.61% and a net margin of 38.85%.The firm’s revenue was up 47.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.58 earnings per share. Analysts predict that Broadcom Inc. will post 10.24 earnings per share for the current year.

Broadcom Dividend Announcement

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

Analysts Set New Price Targets

Several equities research analysts recently weighed in on AVGO shares. Citigroup reissued a “buy” rating on shares of Broadcom in a report on Thursday, June 4th. Seaport Research Partners reaffirmed a “neutral” rating on shares of Broadcom in a report on Wednesday, April 8th. Bank of America increased their target price on Broadcom from $450.00 to $530.00 and gave the company a “buy” rating in a research report on Thursday, June 4th. Susquehanna reissued a “positive” rating and set a $490.00 price target (up from $450.00) on shares of Broadcom in a research note on Thursday, May 28th. Finally, Morgan Stanley set a $502.00 price target on Broadcom and gave the stock an “overweight” rating in a report on Thursday, June 4th. One investment analyst has rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $493.24.

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.