DAVENPORT & Co LLC Lowers Stock Position in Broadcom Inc. $AVGO

DAVENPORT & Co LLC lessened its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 11.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 557,279 shares of the semiconductor manufacturer’s stock after selling 71,824 shares during the period. Broadcom accounts for approximately 1.0% of DAVENPORT & Co LLC’s holdings, making the stock its 18th biggest position. DAVENPORT & Co LLC’s holdings in Broadcom were worth $193,278,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Miller Global Investments LLC purchased a new position in Broadcom during the 4th quarter valued at about $31,000. JCIC Asset Management Inc. purchased a new stake in Broadcom in the third quarter worth about $31,000. Teachers Insurance & Annuity Association of America bought a new position in shares of Broadcom during the second quarter valued at approximately $28,000. Manning & Napier Advisors LLC bought a new position in shares of Broadcom during the third quarter valued at approximately $34,000. Finally, Navigoe LLC lifted its holdings in shares of Broadcom by 515.0% during the third quarter. Navigoe LLC now owns 123 shares of the semiconductor manufacturer’s stock valued at $40,000 after purchasing an additional 103 shares during the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider S. Ram Velaga sold 38,841 shares of the firm’s stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $321.60, for a total value of $12,491,265.60. Following the transaction, the insider directly owned 96,147 shares in the company, valued at $30,920,875.20. This trade represents a 28.77% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Charlie B. Kawwas sold 39,116 shares of Broadcom stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $321.61, for a total value of $12,580,096.76. Following the completion of the sale, the insider directly owned 74,626 shares of the company’s stock, valued at $24,000,467.86. The trade was a 34.39% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 403,049 shares of company stock worth $133,459,315. Insiders own 1.90% of the company’s stock.

Wall Street Analyst Weigh In

AVGO has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft set a $430.00 price target on Broadcom and gave the stock a “buy” rating in a research report on Friday, December 12th. Zacks Research cut Broadcom from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 4th. Royal Bank Of Canada cut their target price on Broadcom from $370.00 to $340.00 and set a “sector perform” rating on the stock in a research note on Monday, March 2nd. Wolfe Research upgraded Broadcom from a “peer perform” rating to an “outperform” rating and set a $400.00 price target for the company in a report on Friday, January 30th. Finally, Truist Financial lifted their price target on Broadcom from $510.00 to $545.00 and gave the stock a “buy” rating in a research report on Thursday, March 5th. One analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $435.30.

Broadcom Stock Performance

Shares of AVGO stock opened at $300.68 on Friday. The company has a quick ratio of 1.73, a current ratio of 1.90 and a debt-to-equity ratio of 0.80. The company has a 50 day moving average price of $327.00 and a 200-day moving average price of $344.86. Broadcom Inc. has a 52 week low of $138.10 and a 52 week high of $414.61. The firm has a market capitalization of $1.42 trillion, a PE ratio of 58.73, a P/E/G ratio of 0.66 and a beta of 1.22.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 earnings per share for the quarter, beating analysts’ consensus estimates of $2.03 by $0.02. Broadcom had a net margin of 36.57% and a return on equity of 38.61%. The company had revenue of $19.31 billion for the quarter, compared to the consensus estimate of $19.10 billion. During the same quarter in the prior year, the firm earned $1.60 earnings per share. The firm’s revenue for the quarter was up 29.5% compared to the same quarter last year. As a group, equities research analysts expect that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Monday, March 23rd will be issued a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Monday, March 23rd. Broadcom’s dividend payout ratio is presently 50.78%.

Broadcom News Summary

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: OpenAI partnership: Broadcom struck a multiyear deal to co-develop custom AI accelerators, positioning AVGO as a strategic supplier for OpenAI and signaling material addressable revenue from bespoke AI silicon and related infrastructure. OpenAI Just Became Broadcom’s Newest Chip Customer
• Positive Sentiment: Analyst upgrades: Erste Group sharply raised estimates (FY2026 to ~$9.80 EPS and FY2027 to ~$16.55 EPS), implying much stronger earnings power than consensus and supporting a higher valuation if AI wins scale as expected.
• Positive Sentiment: Thesis reinforcement from market commentary: Multiple bullish write-ups highlight Broadcom’s expanding role across custom AI silicon, networking and software for hyperscalers — a structural growth story that investors view as durable despite recent volatility. Broadcom (AVGO) Powers the AI Boom — Bullish despite the Pullback
• Neutral Sentiment: Price-target / multi‑year outlook pieces: Analysts and retail sites are publishing 3‑year AVGO price predictions and scenario analyses reflecting both upside from AI exposure and risk from lofty multiples. Broadcom Stock Price Prediction: Where Will AVGO Be in 3 Years?
• Neutral Sentiment: Buy-the-dip narratives: Several outlets argue the ~24% pullback is a buying opportunity tied to the OpenAI deal and secular AI demand, but these are thesis-driven and hinge on execution. Is the 24% Dip a Golden Buying Opportunity?
• Neutral Sentiment: Macro/sector context: Coverage noting that tech earnings have grown but some ETFs (and segments) lag share-price recovery, which can keep trading volatile for large-cap semiconductors like AVGO. As Tech Earnings Grow, This ETF Still Hasn’t Caught Up (AVGO)
• Negative Sentiment: Insider selling: Reports of insiders selling shares have raised near‑term sentiment concerns and may amplify downside during a broader pullback, even if strategic fundamentals remain intact. Broadcom Insiders Are Selling Stock. Is AVGO Finally at the End of the Road?

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.