Broadcom Inc. $AVGO Shares Sold by Copeland Capital Management LLC

Copeland Capital Management LLC cut its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 5.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 81,147 shares of the semiconductor manufacturer’s stock after selling 4,925 shares during the quarter. Copeland Capital Management LLC’s holdings in Broadcom were worth $25,116,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in AVGO. Vanguard Group Inc. lifted its position in shares of Broadcom by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 482,707,302 shares of the semiconductor manufacturer’s stock worth $167,064,997,000 after buying an additional 3,919,715 shares during the last quarter. State Street Corp boosted its holdings in shares of Broadcom by 2.7% in the 4th quarter. State Street Corp now owns 190,084,351 shares of the semiconductor manufacturer’s stock valued at $65,788,194,000 after buying an additional 5,040,801 shares during the period. Geode Capital Management LLC grew its position in shares of Broadcom by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 111,277,280 shares of the semiconductor manufacturer’s stock valued at $38,396,634,000 after buying an additional 1,548,699 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Broadcom by 3.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 85,546,083 shares of the semiconductor manufacturer’s stock valued at $29,607,500,000 after buying an additional 2,491,644 shares during the last quarter. Finally, Norges Bank acquired a new stake in Broadcom during the fourth quarter worth about $24,252,196,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Trending Headlines about Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Morgan Stanley said Broadcom remains one of its preferred ways to play the AI infrastructure buildout, calling AVGO an attractive risk-reward name after the recent semiconductor pullback. Broadcom stock gains 2% today: here’s why
• Positive Sentiment: Analysts and market commentary highlighted Broadcom as a high-cash-flow AI chip stock that could benefit as investors look for quality names amid market volatility. 4 High Cash-Producing AI Chip Stocks to Buy Amid Market Uncertainties
• Positive Sentiment: Broadcom’s AI business is being viewed as a key driver of the investment case, with reports noting strong AI chip revenue growth and a larger shift toward AI-related mix. AMD vs. Broadcom: The Better AI-Chip Stock to Buy After the Sell-Off
• Positive Sentiment: Broadcom also announced a major infrastructure software deal with Standard Chartered to modernize banking cloud operations across 54 markets, which supports its VMware-based software revenue stream. Broadcom (AVGO) Lands Standard Chartered Deal To Power Banking Cloud In 54 Markets
• Neutral Sentiment: Broadcom was included in broader “buy the dip” chip-sector commentary as investors looked for value after the recent memory and AI semiconductor sell-off. The Memory Stock Sell-Off Created a ‘Strong Entry Point,’ Says Morgan Stanley. Investors Are Buying In.
• Negative Sentiment: Recent articles also noted that semiconductor stocks had fallen into a bear market after a sharp index decline, reflecting ongoing sectorwide pressure that could cap gains for AVGO. Semiconductor stocks enter bear market: Is bubble burst next?

Broadcom Stock Performance

Shares of NASDAQ AVGO opened at $378.16 on Tuesday. Broadcom Inc. has a 12-month low of $273.00 and a 12-month high of $495.00. The company has a market cap of $1.80 trillion, a PE ratio of 63.03, a P/E/G ratio of 0.65 and a beta of 1.45. The stock has a 50 day simple moving average of $400.28 and a 200-day simple moving average of $365.62. 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 posted 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 firm 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% compared to the same quarter last year. During the same period last year, the firm earned $1.58 EPS. On average, equities research analysts forecast that Broadcom Inc. will post 10.24 EPS for the current year.

Broadcom Announces Dividend

The firm also recently declared 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 of this dividend was Monday, June 22nd. Broadcom’s dividend payout ratio (DPR) is 43.33%.

Analyst Upgrades and Downgrades

AVGO has been the subject of a number of research reports. Jefferies Financial Group set a $550.00 target price on Broadcom and gave the company a “buy” rating in a research note on Thursday, June 4th. Wall Street Zen cut Broadcom from a “strong-buy” rating to a “buy” rating in a research report on Saturday. JPMorgan Chase & Co. raised their price target on Broadcom from $500.00 to $580.00 and gave the stock an “overweight” rating in a report on Thursday, June 4th. Truist Financial boosted their price objective on Broadcom from $545.00 to $550.00 and gave the company a “buy” rating in a research report on Thursday, June 4th. Finally, Wells Fargo & Company restated an “overweight” rating and set a $545.00 price objective (up from $430.00) on shares of Broadcom in a research note on Thursday, May 14th. One research analyst has rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $493.24.

Insiders Place Their Bets

In related news, Director Harry L. You bought 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The stock was purchased at an average price of $373.57 per share, for a total transaction of $373,570.00. Following the transaction, the director directly owned 38,466 shares of the company’s stock, valued at approximately $14,369,743.62. This represents a 2.67% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gayla J. Delly sold 1,890 shares of the firm’s stock in a transaction dated Wednesday, July 8th. The shares were sold at an average price of $385.38, for a total transaction of $728,368.20. Following the transaction, the director directly owned 31,326 shares in the company, valued at approximately $12,072,413.88. The trade was a 5.69% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 61,644 shares of company stock valued at $24,016,214 over the last three months. 1.90% of the stock is currently owned by company insiders.

About Broadcom

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.