Forum Financial Management LP Cuts Stock Position in Broadcom Inc. $AVGO

Forum Financial Management LP lessened its holdings in Broadcom Inc. (NASDAQ:AVGO) by 68.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,238 shares of the semiconductor manufacturer’s stock after selling 24,472 shares during the quarter. Forum Financial Management LP’s holdings in Broadcom were worth $3,478,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the business. ROSS JOHNSON & Associates LLC raised its position in Broadcom by 1,320.0% in the fourth quarter. ROSS JOHNSON & Associates LLC now owns 71 shares of the semiconductor manufacturer’s stock worth $25,000 after acquiring an additional 66 shares during the period. Networth Advisors LLC grew its position in shares of Broadcom by 546.2% during the 1st quarter. Networth Advisors LLC now owns 84 shares of the semiconductor manufacturer’s stock valued at $26,000 after acquiring an additional 71 shares during the period. SWAN Capital LLC increased its stake in shares of Broadcom by 261.9% during the 4th 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 last quarter. Miller Global Investments LLC purchased a new stake in shares of Broadcom during the 4th quarter worth approximately $31,000. Finally, Nvest Wealth Strategies Inc. bought a new stake in shares of Broadcom in the 4th quarter worth approximately $33,000. 76.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Dbs Bank upgraded Broadcom to a “moderate buy” rating in a research note on Thursday, June 18th. Evercore restated an “outperform” rating and issued a $582.00 target price on shares of Broadcom in a research note on Tuesday, May 19th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $525.00 price target on shares of Broadcom in a research report on Thursday, June 4th. Zacks Research downgraded Broadcom from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 21st. Finally, UBS Group set a $485.00 price target on Broadcom and gave the company a “buy” rating in a research report on Thursday, June 4th. One equities research 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. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $493.24.

Key Broadcom News

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: JPMorgan, UBS, Jefferies and other analysts remain constructive on Broadcom’s AI-driven growth, with price targets well above current levels and continued optimism around custom AI silicon demand, including exposure to customers such as OpenAI and Anthropic. UBS Reaffirms Buy Rating on Broadcom (AVGO) Amid AI ASIC Demand and OpenAI, Anthropic Growth
• Positive Sentiment: Articles highlighting Broadcom’s partnership with OpenAI on the “Jalapeño” AI accelerator reinforce the market’s bullish view that AI infrastructure can keep driving revenue growth. What Broadcom (AVGO)’s Jalapeño AI Accelerator Partnership With OpenAI Means For Shareholders
• Neutral Sentiment: Several recent write-ups argue Broadcom may be attractive after its pullback, but they mostly restate the same long-term thesis rather than pointing to a new catalyst. Why Broadcom Stock Slumped Today
• Neutral Sentiment: Investors continue to search for clues on whether Broadcom can rebound from its post-earnings decline, with coverage focusing on earnings estimates and fair-value changes. Broadcom (AVGO) Stock Gets Fair Value Boost As Analysts Split On AI Outlook
• Negative Sentiment: Director Justine Page sold 1,602 shares of Broadcom stock, extending insider-selling headlines that can weigh on sentiment even if the sale is relatively small versus the company’s size. SEC Form 4 filing for Justine Page sale
• Negative Sentiment: Broadcom remains about 14% below its last earnings report level, and recent commentary suggests investors are still uneasy about whether the company’s strong results were enough to justify its premium valuation. Broadcom Inc. (AVGO) Down 14% Since Last Earnings Report: Can It Rebound?

Insider Activity at Broadcom

In other Broadcom news, insider Mark David Brazeal sold 4,825 shares of the company’s stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $394.91, for a total transaction of $1,905,440.75. Following the completion of the transaction, the insider owned 269,989 shares of the company’s stock, valued at $106,621,355.99. This represents a 1.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Gayla J. Delly sold 1,000 shares of the stock in a transaction that occurred on Thursday, April 9th. The stock was sold at an average price of $358.31, for a total value of $358,310.00. Following the completion of the sale, the director owned 32,352 shares of the company’s stock, valued at approximately $11,592,045.12. This trade represents a 3.00% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 60,987 shares of company stock valued at $21,899,980 in the last quarter. 1.90% of the stock is currently owned by company insiders.

Broadcom Price Performance

Shares of Broadcom stock opened at $360.45 on Friday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.01 and a current ratio of 2.24. Broadcom Inc. has a 52-week low of $269.58 and a 52-week high of $495.00. The stock has a market capitalization of $1.71 trillion, a price-to-earnings ratio of 60.08, a P/E/G ratio of 0.63 and a beta of 1.45. The company’s 50 day moving average price is $407.92 and its 200-day moving average price is $362.33.

Broadcom (NASDAQ:AVGO) last posted 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. The company had revenue of $22.19 billion during the quarter, compared to analyst estimates of $22.13 billion. Broadcom had a net margin of 38.85% and a return on equity of 41.61%. The firm’s revenue was up 47.9% compared to the same quarter last year. During the same period in the prior year, the business posted $1.58 EPS. Equities research analysts forecast that Broadcom Inc. will post 10.24 EPS for the current year.

Broadcom Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 22nd were issued 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 was Monday, June 22nd. Broadcom’s dividend payout ratio is currently 43.33%.

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.