Patton Fund Management Inc. Cuts Stake in Broadcom Inc. $AVGO

Patton Fund Management Inc. lowered its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 93.2% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,100 shares of the semiconductor manufacturer’s stock after selling 15,045 shares during the quarter. Patton Fund Management Inc.’s holdings in Broadcom were worth $340,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Broadcom in the 4th quarter worth approximately $24,252,196,000. Cardano Risk Management B.V. grew its holdings in Broadcom by 895.2% during the fourth quarter. Cardano Risk Management B.V. now owns 12,689,800 shares of the semiconductor manufacturer’s stock valued at $4,391,940,000 after purchasing an additional 11,414,701 shares during the period. State Street Corp grew its holdings in Broadcom by 2.7% during the fourth quarter. State Street Corp now owns 190,084,351 shares of the semiconductor manufacturer’s stock valued at $65,788,194,000 after purchasing an additional 5,040,801 shares during the period. Arrowstreet Capital Limited Partnership increased its position in Broadcom by 499.4% in 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 during the last quarter. Finally, Vanguard Group Inc. increased its position in Broadcom by 0.8% in 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 during the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Broadcom Price Performance

Broadcom stock opened at $369.34 on Thursday. The firm has a market capitalization of $1.76 trillion, a P/E ratio of 61.56, a PEG ratio of 0.66 and a beta of 1.45. Broadcom Inc. has a one year low of $262.73 and a one year high of $495.00. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.24 and a quick ratio of 2.01. The business has a fifty day moving average price of $410.00 and a 200-day moving average price of $362.34.

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 for the quarter, compared to analyst estimates of $22.13 billion. During the same period in the previous year, the company posted $1.58 EPS. The firm’s revenue for the quarter was up 47.9% compared to the same quarter last year. As a group, equities research analysts forecast that Broadcom Inc. will post 10.24 EPS for the current year.

Broadcom Dividend Announcement

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

Insider Transactions at Broadcom

In other news, Director Justine Page sold 1,602 shares of the stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $373.86, for a total value of $598,923.72. Following the sale, the director directly owned 17,426 shares of the company’s stock, valued at approximately $6,514,884.36. This represents a 8.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider S. Ram Velaga sold 8,000 shares of the firm’s stock in a transaction that occurred on Friday, April 10th. The shares were sold at an average price of $370.52, for a total transaction of $2,964,160.00. Following the completion of the transaction, the insider 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 SEC filing for this sale provides additional information. In the last 90 days, insiders sold 60,987 shares of company stock valued at $21,899,980. Company insiders own 1.90% of the company’s stock.

Wall Street Analyst Weigh In

AVGO has been the topic of several research reports. Seaport Research Partners restated a “neutral” rating on shares of Broadcom in a research note on Wednesday, April 8th. Cantor Fitzgerald reissued an “overweight” rating and issued a $525.00 price objective on shares of Broadcom in a report on Thursday, June 4th. Weiss Ratings cut Broadcom from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, June 26th. Wall Street Zen raised shares of Broadcom from a “buy” rating to a “strong-buy” rating in a report on Wednesday. Finally, Erste Group Bank raised shares of Broadcom from a “hold” rating to a “buy” rating in a report on Friday, June 5th. One analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Broadcom has an average rating of “Moderate Buy” and an average price target of $493.24.

More Broadcom News

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: UBS reaffirmed a Buy rating on Broadcom and kept a $485 price target, citing strong AI ASIC demand and growth tied to customers like OpenAI and Anthropic. UBS Reaffirms Buy Rating on Broadcom (AVGO) Amid AI ASIC Demand and OpenAI, Anthropic Growth
• Positive Sentiment: Jefferies also reiterated a Buy rating and a $550 price target, reinforcing the view that Broadcom still has meaningful upside from current levels. Analyst updates Broadcom (AVGO) stock price target
• Positive Sentiment: Several articles highlighted Broadcom’s growing role in custom AI silicon and its partnership with OpenAI on the “Jalapeño” AI accelerator, which supports the bullish narrative around its AI revenue opportunity. What Broadcom (AVGO)’s Jalapeño AI Accelerator Partnership With OpenAI Means For Shareholders
• Neutral Sentiment: Erste Group Bank slightly raised FY2026 and FY2027 earnings estimates for Broadcom and kept a Buy rating, adding to the list of supportive but not market-moving analyst updates.
• Neutral Sentiment: Market commentary continues to frame Broadcom as a strong growth stock and a key AI beneficiary, but these are mostly reiterations of the bullish long-term thesis rather than new catalysts.
• Negative Sentiment: Director Justine Page sold 1,602 shares at an average price of $373.86, extending recent insider-selling headlines that can weigh on investor sentiment. SEC Form 4 filing for Justine Page sale
• Negative Sentiment: Broader articles about Broadcom’s recent slump and questions about valuation suggest investors are becoming more cautious after the stock’s strong run, even with bullish analysts arguing the weakness is a buying opportunity.

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.