Pictet Asset Management Holding SA Has $2.34 Billion Stake in Broadcom Inc. $AVGO

Pictet Asset Management Holding SA grew its stake in Broadcom Inc. (NASDAQ:AVGO) by 20.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,571,252 shares of the semiconductor manufacturer’s stock after buying an additional 1,263,794 shares during the quarter. Broadcom makes up 2.5% of Pictet Asset Management Holding SA’s portfolio, making the stock its 4th biggest holding. Pictet Asset Management Holding SA owned 0.16% of Broadcom worth $2,341,815,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Brown Brothers Harriman & Co. boosted its holdings in Broadcom by 10.7% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 77,411 shares of the semiconductor manufacturer’s stock worth $25,539,000 after buying an additional 7,499 shares during the period. Sovran Advisors LLC grew its position in shares of Broadcom by 121.3% during the fourth quarter. Sovran Advisors LLC now owns 30,631 shares of the semiconductor manufacturer’s stock worth $10,507,000 after purchasing an additional 16,789 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its stake in Broadcom by 406.1% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 11,994 shares of the semiconductor manufacturer’s stock worth $4,151,000 after purchasing an additional 9,624 shares during the period. Aspiriant LLC grew its holdings in Broadcom by 18.5% during the 4th quarter. Aspiriant LLC now owns 12,016 shares of the semiconductor manufacturer’s stock valued at $4,158,000 after buying an additional 1,872 shares in the last quarter. Finally, World Investment Advisors raised its position in shares of Broadcom by 16.1% during the fourth quarter. World Investment Advisors now owns 177,710 shares of the semiconductor manufacturer’s stock valued at $61,505,000 after buying an additional 24,703 shares during the last quarter. Institutional investors own 76.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on AVGO. Truist Financial raised their target price on shares of 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 price target (up from $500.00) on shares of Broadcom in a report on Thursday, June 4th. DA Davidson upped their price objective on Broadcom from $375.00 to $400.00 and gave the stock a “neutral” rating in a report on Thursday, June 4th. UBS Group set a $485.00 target price on shares of Broadcom and gave the company a “buy” rating in a report on Thursday, June 4th. Finally, Morgan Stanley set a $502.00 price target on shares of Broadcom and gave the company an “overweight” rating 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 assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $493.24.

Insiders Place Their Bets

In other Broadcom news, insider Charlie B. Kawwas sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 8th. The stock was sold at an average price of $345.23, for a total transaction of $3,452,300.00. Following the completion of the transaction, the insider owned 787,184 shares in the company, valued at $271,759,532.32. The trade was a 1.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Harry L. You purchased 1,000 shares of Broadcom stock in a transaction dated Thursday, June 11th. The stock was acquired at an average price of $373.57 per share, for a total transaction of $373,570.00. Following the completion of the acquisition, the director owned 38,466 shares of the company’s stock, valued at approximately $14,369,743.62. This trade represents a 2.67% increase in their position. The SEC filing for this purchase provides additional information. Insiders have sold 59,385 shares of company stock valued at $21,301,057 over the last quarter. Corporate insiders own 1.90% of the company’s stock.

Key Stories Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Jefferies reiterated its Buy rating on Broadcom and kept a $550 price target, suggesting substantial upside from current levels. Analyst updates Broadcom (AVGO) stock price target
• Positive Sentiment: Erste Group raised its earnings estimates for Broadcom, including higher FY2026 and FY2027 EPS forecasts, reinforcing the view that earnings growth remains strong. Broadcom estimate update
• Positive Sentiment: Coverage around Broadcom’s partnership with OpenAI on the Jalapeño AI accelerator continues to support the company’s AI growth story and long-term demand outlook. What Broadcom (AVGO)’s Jalapeño AI Accelerator Partnership With OpenAI Means For Shareholders
• Neutral Sentiment: Several articles highlighted Broadcom’s recent weakness and “buy the dip” debate, indicating that investor sentiment is cautious but not turning bearish on fundamentals. Broadcom’s Stock Has Slumped Over 20% From Its Highs. These Experts Say They Would Buy the Dip
• Negative Sentiment: Reports of heavy insider selling over the past two weeks may weigh on sentiment, as investors often view large insider sales as a cautionary signal. Monster insider trading alert for Broadcom (AVGO) stock

Broadcom Stock Performance

NASDAQ:AVGO opened at $377.75 on Wednesday. The firm has a market capitalization of $1.80 trillion, a PE ratio of 62.96, a PEG ratio of 0.65 and a beta of 1.41. The stock’s fifty day moving average is $410.61 and its 200 day moving average is $362.60. Broadcom Inc. has a fifty-two week low of $262.66 and a fifty-two week high of $495.00. 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 (NASDAQ:AVGO) last posted its quarterly earnings data on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 EPS for the quarter, topping the consensus estimate of $2.40 by $0.04. Broadcom had a net margin of 38.85% and a return on equity of 41.61%. The company had revenue of $22.19 billion during the quarter, compared to analyst estimates of $22.13 billion. During the same period in the previous year, the firm earned $1.58 earnings per share. Broadcom’s quarterly revenue was up 47.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Broadcom Inc. will post 10.24 earnings per share for the current year.

Broadcom Announces Dividend

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

Broadcom 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.