Formidable Asset Management LLC Trims Stock Position in Broadcom Inc. $AVGO

Formidable Asset Management LLC lessened its holdings in Broadcom Inc. (NASDAQ:AVGO) by 8.5% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 18,776 shares of the semiconductor manufacturer’s stock after selling 1,738 shares during the period. Broadcom comprises approximately 0.9% of Formidable Asset Management LLC’s holdings, making the stock its 23rd biggest position. Formidable Asset Management LLC’s holdings in Broadcom were worth $5,811,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Brown Brothers Harriman & Co. lifted its position in shares of Broadcom by 10.7% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 77,411 shares of the semiconductor manufacturer’s stock valued at $25,539,000 after buying an additional 7,499 shares in the last quarter. Sovran Advisors LLC increased its holdings in Broadcom by 121.3% in the 4th quarter. Sovran Advisors LLC now owns 30,631 shares of the semiconductor manufacturer’s stock worth $10,507,000 after acquiring an additional 16,789 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its stake in Broadcom by 406.1% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 11,994 shares of the semiconductor manufacturer’s stock worth $4,151,000 after acquiring an additional 9,624 shares during the period. Aspiriant LLC lifted its holdings in Broadcom by 18.5% during the fourth quarter. Aspiriant LLC now owns 12,016 shares of the semiconductor manufacturer’s stock valued at $4,158,000 after purchasing an additional 1,872 shares in the last quarter. Finally, World Investment Advisors boosted its position in shares of Broadcom by 16.1% in the fourth quarter. World Investment Advisors now owns 177,710 shares of the semiconductor manufacturer’s stock worth $61,505,000 after purchasing an additional 24,703 shares during the period. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Broadcom News Summary

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 Price Performance

NASDAQ:AVGO opened at $369.34 on Thursday. The company has a current ratio of 2.24, a quick ratio of 2.01 and a debt-to-equity ratio of 0.71. The company has a market capitalization of $1.76 trillion, a P/E ratio of 61.56, a P/E/G ratio of 0.66 and a beta of 1.45. Broadcom Inc. has a 12 month low of $262.73 and a 12 month high of $495.00. The business’s 50-day moving average is $410.00 and its 200 day moving average is $362.34.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 EPS for the quarter, topping the consensus estimate 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 analyst estimates of $22.13 billion. During the same quarter last year, the business posted $1.58 earnings per share. The firm’s revenue was up 47.9% on a year-over-year basis. On average, equities research analysts forecast that Broadcom Inc. will post 10.24 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 22nd were given 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 dividend payout ratio is 43.33%.

Insiders Place Their Bets

In other news, Director Gayla J. Delly sold 1,000 shares of Broadcom stock in a transaction on Thursday, April 9th. The stock was sold at an average price of $358.31, for a total transaction of $358,310.00. Following the completion of the sale, the director directly owned 32,352 shares in the company, valued at approximately $11,592,045.12. This trade represents a 3.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Mark David Brazeal sold 4,825 shares of the business’s stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $394.91, for a total transaction of $1,905,440.75. Following the sale, the insider directly owned 269,989 shares of the company’s stock, valued at $106,621,355.99. This represents a 1.76% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 60,987 shares of company stock valued at $21,899,980. Insiders own 1.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on AVGO shares. Cantor Fitzgerald restated an “overweight” rating and set a $525.00 price objective on shares of Broadcom in a research report on Thursday, June 4th. Evercore reaffirmed an “outperform” rating and issued a $582.00 target price on shares of Broadcom in a report on Tuesday, May 19th. UBS Group set a $485.00 price target on Broadcom and gave the stock a “buy” rating in a research note on Thursday, June 4th. Weiss Ratings cut Broadcom from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday, June 26th. Finally, TD Cowen restated a “buy” rating and issued a $500.00 price objective on shares of Broadcom in a research report on Thursday, June 4th. One analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, Broadcom presently has an average rating of “Moderate Buy” and a consensus target price of $493.24.

Broadcom 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.