Broadcom Inc. $AVGO Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. reduced its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 4.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 11,116,332 shares of the semiconductor manufacturer’s stock after selling 467,949 shares during the period. Broadcom accounts for approximately 2.2% of Sumitomo Mitsui Trust Group Inc.’s holdings, making the stock its 7th biggest position. Sumitomo Mitsui Trust Group Inc.’s holdings in Broadcom were worth $3,440,616,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Resona Asset Management Co. Ltd. lifted its position in Broadcom by 2.2% during the 1st quarter. Resona Asset Management Co. Ltd. now owns 1,399,140 shares of the semiconductor manufacturer’s stock worth $428,711,000 after acquiring an additional 29,773 shares during the last quarter. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. grew its position in shares of Broadcom by 5.7% in the first quarter. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. now owns 3,030 shares of the semiconductor manufacturer’s stock valued at $938,000 after purchasing an additional 164 shares during the last quarter. Base Wealth Management LLC increased its stake in shares of Broadcom by 5.0% in the first quarter. Base Wealth Management LLC now owns 715 shares of the semiconductor manufacturer’s stock worth $221,000 after purchasing an additional 34 shares during the period. Demars Financial Group LLC lifted its position in shares of Broadcom by 149.4% during the 1st quarter. Demars Financial Group LLC now owns 2,888 shares of the semiconductor manufacturer’s stock worth $894,000 after purchasing an additional 1,730 shares during the last quarter. Finally, Capital Planning LLC boosted its stake in Broadcom by 0.7% during the 1st quarter. Capital Planning LLC now owns 4,044 shares of the semiconductor manufacturer’s stock valued at $1,252,000 after purchasing an additional 28 shares during the period. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Broadcom

In other Broadcom news, Director Harry L. You acquired 1,000 shares of Broadcom stock in a transaction dated Thursday, June 11th. The stock was bought at an average cost of $373.57 per share, with a total value of $373,570.00. Following the acquisition, the director owned 38,466 shares of the company’s stock, valued at approximately $14,369,743.62. The trade was a 2.67% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Mark David Brazeal sold 25,000 shares of Broadcom stock in a transaction dated Wednesday, July 8th. The shares were sold at an average price of $379.19, for a total transaction of $9,479,750.00. Following the sale, the insider owned 219,989 shares in the company, valued at approximately $83,417,628.91. This trade represents a 10.20% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 36,644 shares of company stock worth $13,982,964. Corporate insiders own 1.90% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on AVGO. TD Cowen reiterated a “buy” rating and set a $500.00 price target on shares of Broadcom in a report on Thursday, June 4th. DA Davidson boosted their target price on shares of Broadcom from $375.00 to $400.00 and gave the stock a “neutral” rating in a research report on Thursday, June 4th. Royal Bank Of Canada upped their target price on shares of Broadcom from $360.00 to $400.00 and gave the company a “sector perform” rating in a research note on Thursday, June 4th. Cantor Fitzgerald reissued an “overweight” rating and issued a $525.00 price target on shares of Broadcom in a report on Thursday, June 4th. Finally, Bank of America raised their price target on shares of Broadcom from $450.00 to $530.00 and gave the stock a “buy” rating in a research report on Thursday, June 4th. One 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’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $493.24.

Trending Headlines about Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom’s expanded Apple agreement, valued at more than $30 billion through 2031, strengthens visibility for revenue and highlights demand beyond AI chips. Why Broadcom Stock Rose Today
• Positive Sentiment: Analysts remain upbeat on Broadcom’s AI business, with Jefferies reiterating a Buy rating and a $550 price target as AI chip momentum improves. Broadcom’s (AVGO) AI Chip Momentum Keeps Wall Street Bullish
• Positive Sentiment: Broadcom is being viewed as a broader AI infrastructure winner because its networking products help connect large-scale AI systems, expanding the investment thesis beyond GPUs and custom chips. Broadcom stock’s latest catalyst targets Nvidia where it looks strongest
• Neutral Sentiment: Some coverage notes Broadcom’s near-$2 trillion market value and strong AI revenue growth, but also suggests much of the good news may already be reflected in the stock. Broadcom Is Less Than 5% From the $2 Trillion Club — and Apple Just Committed $30 Billion for More Chips
• Negative Sentiment: Erste Group downgraded Broadcom to Hold, citing valuation concerns, which may be limiting upside after the recent rally. Erste Group downgrades Broadcom to Hold citing valuation concerns

Broadcom Price Performance

Shares of AVGO stock opened at $399.97 on Monday. Broadcom Inc. has a 12 month low of $269.58 and a 12 month high of $495.00. The company has a market capitalization of $1.90 trillion, a P/E ratio of 66.66, a P/E/G ratio of 0.70 and a beta of 1.45. The stock has a 50 day moving average of $405.29 and a two-hundred day moving average of $364.28. The company has a current ratio of 2.24, a quick ratio of 2.01 and a debt-to-equity ratio of 0.71.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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%.Broadcom’s quarterly revenue was up 47.9% on a year-over-year basis. During the same period in the previous year, the business posted $1.58 earnings per share. As a group, equities analysts expect that Broadcom Inc. will post 10.24 EPS for the current year.

Broadcom Dividend Announcement

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