Castleark Management LLC Sells 3,176 Shares of Broadcom Inc. $AVGO

Castleark Management LLC reduced its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 1.5% during the first quarter, Holdings Channel reports. The firm owned 202,704 shares of the semiconductor manufacturer’s stock after selling 3,176 shares during the quarter. Broadcom makes up approximately 2.1% of Castleark Management LLC’s portfolio, making the stock its 11th biggest position. Castleark Management LLC’s holdings in Broadcom were worth $62,739,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. ROSS JOHNSON & Associates LLC raised its stake 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 buying an additional 66 shares in the last quarter. SWAN Capital LLC grew its holdings 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 acquiring an additional 55 shares during the period. Networth Advisors LLC raised its position in shares of Broadcom by 546.2% in the 1st quarter. Networth Advisors LLC now owns 84 shares of the semiconductor manufacturer’s stock worth $26,000 after acquiring an additional 71 shares in the last quarter. Nvest Wealth Strategies Inc. purchased a new position in shares of Broadcom in the 4th quarter valued at approximately $33,000. Finally, Family CFO Inc bought a new stake in shares of Broadcom during the fourth quarter valued at approximately $35,000. 76.43% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

AVGO has been the subject of several recent research reports. Wall Street Zen lowered Broadcom from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 18th. TD Cowen reiterated a “buy” rating and issued a $500.00 price target on shares of Broadcom in a research note on Thursday, June 4th. JPMorgan Chase & Co. boosted their price objective on shares of Broadcom from $500.00 to $580.00 and gave the stock an “overweight” rating in a research note on Thursday, June 4th. Zacks Research cut shares of Broadcom from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 21st. Finally, Seaport Research Partners reiterated a “neutral” rating on shares of Broadcom in a report on Wednesday, April 8th. Twenty-eight investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $493.24.

Insiders Place Their Bets

In other news, Director Justine Page sold 1,602 shares of the business’s stock in a transaction that occurred 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 transaction, the director directly owned 17,426 shares of the company’s stock, valued at $6,514,884.36. The trade was a 8.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mark David Brazeal sold 25,000 shares of the stock in a transaction that occurred on Friday, July 10th. The shares were sold at an average price of $401.33, for a total transaction of $10,033,250.00. Following the transaction, the insider owned 194,989 shares in the company, valued at approximately $78,254,935.37. This trade represents a 11.36% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 61,644 shares of company stock valued at $24,016,214 over the last quarter. Corporate insiders own 1.90% of the company’s stock.

Broadcom Trading Down 0.6%

Shares of NASDAQ AVGO opened at $380.91 on Wednesday. The firm’s 50 day moving average price is $396.06 and its 200-day moving average price is $367.39. Broadcom Inc. has a 52-week low of $281.61 and a 52-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. The company has a market cap of $1.81 trillion, a PE ratio of 63.49, a P/E/G ratio of 0.73 and a beta of 1.45.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share for the quarter, topping 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 for the quarter was up 47.9% on a year-over-year basis. During the same period in the previous year, the business earned $1.58 EPS. On average, equities research analysts expect that Broadcom Inc. will post 10.24 EPS for the current fiscal year.

Broadcom Announces Dividend

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

Key Stories Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom’s custom-silicon business continues to attract demand from hyperscalers building AI infrastructure, with new client wins supporting the company’s growth outlook. Broadcom Rose on Strong Custom Silicon Demand and New Client Wins
• Positive Sentiment: Alphabet plans to spend approximately $195 billion to $205 billion on capital expenditures this year, maintaining a substantial customer opportunity for AI processors supplied by Broadcom and Nvidia. Alphabet CEO Sundar Pichai Just Made a Major Decision Affecting Nvidia and Broadcom Investors
• Positive Sentiment: J.P. Morgan said Broadcom will source most of its memory requirements from Samsung through 2030, potentially improving supply visibility as AI-related memory demand expands. Broadcom’s Expanded Samsung Pact Shows AI Trade Is Still All About Memory
• Positive Sentiment: Recent investor commentary highlights Broadcom as a direct beneficiary of rising data-center infrastructure spending, with its custom silicon and networking products positioned as a way to monetize hyperscaler AI investment. I’m Buying Broadcom This Week For One Powerful Reason
• Neutral Sentiment: Broadcom has delivered strong long-term shareholder returns and recently benefited from solid quarterly results, although those gains have contributed to elevated expectations. 3 Big Reasons to Love Broadcom
• Negative Sentiment: The immediate pressure on AVGO is sector-wide: chip stocks extended their pullback as investors questioned whether the AI trade resembles a bubble, weighing on the Nasdaq and semiconductor valuations. Chip Stocks Extend Pullback Amid AI Bubble Fears
• Negative Sentiment: Investors remain concerned that hyperscaler capital-expenditure plans could slow or that Broadcom’s dependence on major customers, including Google, may limit its valuation upside. These concerns are competing with the company’s AI growth narrative. Broadcom: Why the Google Share Panic Misses What Broadcom’s Moat Actually Is

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.