California State Teachers Retirement System 13F: Cuts AVGO Stake by $54M
The California State Teachers Retirement System trimmed its stake in Broadcom Inc. by over 144,000 shares, reflecting a 2.1% decrease.
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California State Teachers Retirement System sold 144,857 shares from its stake in Broadcom Inc. ($AVGO), a 2.08% decrease, according to a 13F filing with the SEC dated May 18, 2026. It reported 6,816,811 shares worth $2.56 billion at the end of the quarter.
Since the filing, $AVGO is up 0.3% after 1 week, down 6.6% after 1 month and down 21.6% to date (from the $419.28 close on May 18, 2026).
Find the original: California State Teachers Retirement System 13F filings on SEC EDGAR
AVGO
Broadcom Inc.
Key Points
- The California State Teachers Retirement System trimmed its stake in Broadcom Inc. (AVGO) by 144,857 shares, bringing its total holdings to 6,816,811 shares valued at approximately $2.56 billion as of May 18, 2026.
- Broadcom's stock closed at $375.61 on the day this filing was published, which is above its 50-day moving average of $367.56, indicating solid performance in recent times.
- Analysts maintain a strong consensus on Broadcom, with a mean price target of $527.59, reflecting confidence in the company's growth potential.
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California State Teachers Retirement System Trims Stake
The California State Teachers Retirement System trimmed its stake in Broadcom Inc. (AVGO) by 144,857 shares, reducing its holdings to 6,816,811 shares valued at about $2.56 billion as of May 18, 2026. This represents a 2.1% decrease in their position, reflecting a strategic adjustment in their investment approach.
What Changed in the Position
The California State Teachers Retirement System reduced its holdings from 6,961,668 shares to 6,816,811 shares, a decrease of 144,857 shares. This reduction may suggest a reevaluation of their investment strategy regarding Broadcom, which operates in the semiconductor sector.
Institutional Activity
In the same quarter, other institutional investors also made notable adjustments to their Broadcom positions. B. Riley Wealth Advisors increased its stake by 28.2%, while Montrusco Bolton Investments reduced its holdings by 26.5%, indicating varied confidence levels among big holders in the tech giant. Additionally, First Citizens Bank & Trust raised its position, acquiring 44,397 shares.
How Broadcom Inc. Stock Has Traded
Broadcom's stock was trading at $375.61 on the day this article was published, which is above its 50-day moving average of $367.56. The stock has seen fluctuations, with a 52-week low of $289.96 and a high of $495.00, suggesting it remains a key player in the semiconductor market despite recent adjustments by investors.
Recent Earnings
Broadcom reported revenue of approximately $89.1 billion with a revenue growth rate of 85.5% and an EPS of $7.59. The next earnings report is expected on December 9, 2026, when investors will look for further insights into the company's performance.
Earnings drift grade
Outlook vs expectations on the last report — not price action.
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Forward outlook
14 target raises vs 1 cuts.
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EPS & revenue
EPS met estimates. Revenue missed estimates by 2.3%.
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Profit surprise
EBITDA missed by 14 percent. Operating income missed by 28 percent.
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Pre-earnings setup
Bar was high, analysts already very bullish.
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Analyst signal
1 downgrade, 14 target raises, 1 target cut.
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Earnings quality
Gross margin down 0.7 points. Operating margin up 10.1 points. Positive free cash flow.
Earnings Call Summary
Broadcom reported record quarterly revenue of $22.2 billion, up 48 percent from last year, driven by massive AI chip demand. AI chip sales alone hit $10.8 billion, up 143 percent, with bookings exceeding $30 billion against only $10.8 billion shipped, showing extreme customer demand. The company is executing partnerships with Google, Anthropic, OpenAI, and Meta to build large-scale AI compute clusters, with multiple gigawatt commitments starting to ramp in 2027 and beyond.
Guidance The company expects total sales of about $29.4 billion next quarter, up 84 percent year over year. Within that, AI chip sales should hit $16 billion, up over 200 percent. The company also raised its full-year AI sales target to $56 billion and reiterated guidance for 2027 AI sales to exceed $100 billion. Operating margins will stay stable at 67 percent even as the company grows.
Neutral report. Results and guidance were close to expectations, with limited evidence of a reset either way.
Insider Buying and Selling at Broadcom Inc.
On June 17, 2026, Henry Samueli, a key insider at Broadcom, bought and sold 1,602 shares each, indicating ongoing personal investment activity in the company. On June 18, he also bought 1,890 shares, further showing his confidence. Samueli sold a larger block of 333,401 shares on June 24, 2026, which may reflect his strategic personal financial management rather than bearish sentiment about the company.
Analysts Set New Price Targets
Analysts have a strong consensus on Broadcom, with firms like Piper Sandler initiating coverage with an Overweight rating and a price target of $460. Citigroup maintained a Buy rating with a target of $515, while several other firms also reaffirmed their positive outlook, indicating confidence in Broadcom's future growth potential.
What Broadcom Inc. Does
Broadcom Inc. designs and supplies semiconductor devices and infrastructure software solutions globally. With a wide range of products used in various applications, the company's innovations are crucial for industries like telecommunications, data centers, and broadband access.
What to Watch
Investors will be keeping an eye on Broadcom's upcoming earnings report scheduled for December 9, 2026. As the 13F filing reflects positions as of May 18, it may not represent the current holdings of the California State Teachers Retirement System, and further filings may reveal more about their investment strategy.
Related Filing Alerts
Source: California State Teachers Retirement System's 13F filing on $AVGO (May 18, 2026). 13F filings show holdings as of the end of the reporting quarter and may not reflect the fund's current position. Find the original filing: California State Teachers Retirement System 13F filings on SEC EDGAR. Written by software, not financial advice. How we make alerts