Parnassus Investments LLC Sells 56,781 Shares of Broadcom Inc. $AVGO

Parnassus Investments LLC cut its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 2.3% in the fourth quarter, Holdings Channel reports. The institutional investor owned 2,461,410 shares of the semiconductor manufacturer’s stock after selling 56,781 shares during the period. Broadcom comprises 2.2% of Parnassus Investments LLC’s portfolio, making the stock its 15th biggest holding. Parnassus Investments LLC’s holdings in Broadcom were worth $851,894,000 as of its most recent filing with the SEC.

A number of other hedge funds have also modified their holdings of AVGO. Norges Bank bought a new position in shares of Broadcom during the fourth quarter worth about $24,252,196,000. Arrowstreet Capital Limited Partnership grew its holdings in shares of Broadcom by 499.4% during the third quarter. Arrowstreet Capital Limited Partnership now owns 5,634,232 shares of the semiconductor manufacturer’s stock worth $1,858,789,000 after buying an additional 4,694,313 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Broadcom by 0.8% during the fourth 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 in the last quarter. Nordea Investment Management AB grew its holdings in shares of Broadcom by 47.5% during the fourth quarter. Nordea Investment Management AB now owns 9,814,757 shares of the semiconductor manufacturer’s stock worth $3,406,211,000 after buying an additional 3,160,586 shares in the last quarter. Finally, Danske Bank A S acquired a new position in Broadcom during the third quarter valued at approximately $987,488,000. 76.43% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

AVGO has been the subject of several recent research reports. Truist Financial increased their price target on Broadcom from $545.00 to $550.00 and gave the company a “buy” rating in a research report on Thursday, June 4th. Oppenheimer reissued an “outperform” rating and set a $535.00 price target (up from $450.00) on shares of Broadcom in a research report on Thursday, June 4th. Seaport Research Partners reissued a “neutral” rating on shares of Broadcom in a research report on Wednesday, April 8th. Morgan Stanley set a $502.00 price target on Broadcom and gave the company an “overweight” rating in a research report on Thursday, June 4th. Finally, Wells Fargo & Company reissued an “overweight” rating and set a $545.00 price target (up from $430.00) on shares of Broadcom in a research report on Thursday, May 14th. One investment 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’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $490.13.

Key Stories Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Several analysts raised or reiterated bullish views after the pullback, including Erste Group increasing its FY2026 and FY2027 EPS estimates and maintaining a Buy rating, while other reports said Wall Street price targets are still rising despite the selloff. As Shares Fall, Analyst Are Boosting their Broadcom Price Targets
• Positive Sentiment: Broadcom continues to be highlighted as a major AI winner, with articles noting strong AI chip demand, large AI bookings, and its growing role in custom AI chips for hyperscale customers. Broadcom’s Post-Earnings Dip Is a Compelling Buying Opportunity
• Positive Sentiment: Broadcom announced cash tender offers for certain outstanding debt securities, which may be viewed as a balance-sheet management move that could modestly support investor confidence. Broadcom Inc. Commences Offers to Purchase for Cash Certain of its Outstanding Debt Securities
• Neutral Sentiment: Broadcom was also featured in multiple articles calling it a top AI stock in Ken Griffin’s portfolio, reinforcing its reputation as a core AI holding rather than providing a new company-specific catalyst. Broadcom Inc. (AVGO) Is A Top AI Stock In Ken Griffin’s Portfolio
• Negative Sentiment: The main drag on the stock has been post-earnings skepticism: investors punished Broadcom despite beat-and-raise style results because its AI guidance was seen as too conservative relative to a very rich valuation. Stock Market Today, June 10: Broadcom Falls as Strong AI Quarter Tests Stock’s Premium Valuation
• Negative Sentiment: Some commentators warned that Broadcom’s AI story may have red flags, with concerns that the market is focused too heavily on short-term guidance and premium expectations rather than fundamentals. Broadcom Looks Like A Value (Growth) Trap

Broadcom Stock Performance

AVGO opened at $385.57 on Friday. Broadcom Inc. has a 12-month low of $244.17 and a 12-month high of $495.00. The stock has a market cap of $1.83 trillion, a price-to-earnings ratio of 64.26, a PEG ratio of 0.65 and a beta of 1.41. The business has a 50 day moving average of $402.89 and a 200-day moving average of $363.19. The company has a quick ratio of 2.01, a current ratio of 2.24 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. Broadcom had a return on equity of 41.61% and a net margin of 38.85%.The company had revenue of $22.19 billion during the quarter, compared to analysts’ expectations of $22.13 billion. During the same period last year, the firm posted $1.58 earnings per share. The business’s revenue was up 47.9% on a year-over-year basis. On average, equities research analysts expect that Broadcom Inc. will post 10.24 earnings per share for the current year.

Broadcom Announces Dividend

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

Insider Buying and Selling

In other news, insider S. Ram Velaga sold 8,000 shares of the firm’s stock in a transaction that occurred on Friday, April 10th. The stock was sold at an average price of $370.52, for a total value of $2,964,160.00. Following the completion of the sale, the insider directly owned 57,932 shares of the company’s stock, valued at $21,464,964.64. This trade represents a 12.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Justine Page sold 2,018 shares of Broadcom stock in a transaction that occurred on Wednesday, April 8th. The stock was sold at an average price of $353.00, for a total value of $712,354.00. Following the sale, the director directly owned 18,164 shares of the company’s stock, valued at approximately $6,411,892. The trade was a 10.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 324,282 shares of company stock valued at $106,425,249. Insiders own 1.90% of the company’s stock.

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.