Chesley Taft & Associates LLC Trims Stake in Broadcom Inc. $AVGO

Chesley Taft & Associates LLC cut its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 5.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 255,036 shares of the semiconductor manufacturer’s stock after selling 15,238 shares during the period. Broadcom makes up approximately 3.6% of Chesley Taft & Associates LLC’s investment portfolio, making the stock its 4th largest holding. Chesley Taft & Associates LLC’s holdings in Broadcom were worth $84,139,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in AVGO. Brighton Jones LLC increased its stake in Broadcom by 21.8% in the fourth quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer’s stock valued at $6,882,000 after purchasing an additional 5,322 shares in the last quarter. Revolve Wealth Partners LLC boosted its position in shares of Broadcom by 10.4% during the fourth quarter. Revolve Wealth Partners LLC now owns 7,997 shares of the semiconductor manufacturer’s stock worth $1,854,000 after purchasing an additional 756 shares in the last quarter. United Bank grew its holdings in shares of Broadcom by 76.5% in the 1st quarter. United Bank now owns 2,339 shares of the semiconductor manufacturer’s stock valued at $392,000 after buying an additional 1,014 shares during the period. Martingale Asset Management L P increased its position in shares of Broadcom by 1.3% in the 1st quarter. Martingale Asset Management L P now owns 3,876 shares of the semiconductor manufacturer’s stock valued at $649,000 after buying an additional 48 shares in the last quarter. Finally, Wescott Financial Advisory Group LLC increased its position in shares of Broadcom by 3.8% in the 1st quarter. Wescott Financial Advisory Group LLC now owns 1,326 shares of the semiconductor manufacturer’s stock valued at $222,000 after buying an additional 48 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insiders Place Their Bets

In related news, insider Mark David Brazeal sold 38,281 shares of the firm’s stock in a transaction that occurred on Wednesday, December 17th. The shares were sold at an average price of $327.65, for a total value of $12,542,769.65. Following the completion of the transaction, the insider owned 266,494 shares in the company, valued at $87,316,759.10. This trade represents a 12.56% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Charlie B. Kawwas sold 1,928 shares of the stock in a transaction that occurred on Wednesday, December 17th. The shares were sold at an average price of $327.80, for a total transaction of $631,998.40. Following the sale, the insider directly owned 23,582 shares of the company’s stock, valued at $7,730,179.60. This represents a 7.56% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 863,577 shares of company stock valued at $311,694,744 over the last 90 days. 2.00% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Benchmark boosted their target price on Broadcom from $385.00 to $485.00 and gave the company a “buy” rating in a research note on Friday, December 12th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Broadcom in a research report on Monday. Robert W. Baird set a $420.00 target price on shares of Broadcom in a report on Friday, December 12th. Barclays reaffirmed an “overweight” rating and issued a $500.00 price target (up previously from $450.00) on shares of Broadcom in a research note on Friday, December 12th. Finally, Susquehanna reiterated a “positive” rating and issued a $450.00 price target (up previously from $400.00) on shares of Broadcom in a report on Thursday, December 4th. Three analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $436.33.

Broadcom News Summary

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Truist raised its price target to $510 and kept a buy stance, signaling big upside vs. current levels. AVGO: Broadcom price target raised by Truist
• Positive Sentiment: Company beat expectations and issued AI-related revenue commentary (large AI/XPU and networking opportunity), supporting a growth story tied to data-center demand. Broadcom soars past expectations with blockbuster results
• Positive Sentiment: Unusual options activity: traders bought ~323,615 call contracts, well above average, indicating speculative/hedged bullish bets on near-term upside.
• Positive Sentiment: Broadcom raised its quarterly dividend ~10% (new quarterly payment $0.65) — a sign of strong cash flow and shareholder returns. Broadcom stock just raised its dividend by 10%
• Neutral Sentiment: High-profile bullish coverage and commentary (Wall Street lists and media pieces) are amplifying interest but also raising expectations. Here’s why Wall Street is bullish on Broadcom stock (AVGO)
• Neutral Sentiment: Jim Cramer publicly said he isn’t very worried about Broadcom, which can calm retail sentiment but is not a fundamental driver. Jim Cramer says he is not that worried about Broadcom
• Negative Sentiment: Several insiders (including senior execs) have sold shares in recent filings — a potential overhang for sentiment even if sales may be for diversification/liquidity. Charlie Kawwas Sells 1,235 Shares of Broadcom
• Negative Sentiment: Sharp recent sell-off (~20% from pre-earnings levels) has created volatility and forced short-term selling pressure despite analysts raising targets. Broadcom Stock Crashes 20%—But Wall Street Sees It Soaring to $500

Broadcom Price Performance

Shares of NASDAQ AVGO opened at $340.36 on Friday. The business has a 50-day moving average of $362.98 and a 200-day moving average of $320.66. Broadcom Inc. has a fifty-two week low of $138.10 and a fifty-two week high of $414.61. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.71 and a quick ratio of 1.58. The stock has a market capitalization of $1.61 trillion, a price-to-earnings ratio of 71.50, a PEG ratio of 1.13 and a beta of 1.19.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results on Thursday, December 11th. The semiconductor manufacturer reported $1.95 earnings per share for the quarter, topping the consensus estimate of $1.87 by $0.08. The firm had revenue of $18.02 billion for the quarter, compared to analyst estimates of $17.46 billion. Broadcom had a return on equity of 37.45% and a net margin of 36.20%.The business’s quarterly revenue was up 28.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.42 EPS. As a group, sell-side analysts predict that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 22nd will be given a dividend of $0.65 per share. This is an increase from Broadcom’s previous quarterly dividend of $0.59. This represents a $2.60 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Monday, December 22nd. Broadcom’s dividend payout ratio (DPR) is currently 49.58%.

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.