Ninety One UK 13F: Cuts Broadcom (AVGO) Stake by $210M

Ninety One UK lowered its investment in Broadcom Inc. AVGO on NasdaqGS, cutting its stake by 21.4% during the period. The disclosure came in a Form 13F filing with the U.S. Securities and Exchange Commission on October 15, 2026. Because 13F filings look backward at holdings from the previous quarter, this update shows the fund's position as of that report and may not reflect its current holdings today.

What Changed in Ninety One UK's Broadcom Position

Ninety One UK trimmed its holdings by selling 596,927 shares of Broadcom during the period. The fund previously held 2,785,221 shares and ended the quarter with 2,188,294 shares. The remaining stake was valued at roughly $768.5 million at the time of the report.

Other Institutional Activity in Broadcom

Other large money managers also adjusted their holdings in Broadcom during the quarter. Blackrock Inc. grew its holdings by 12,729,211 shares, ending with 398,213,826 shares worth about $130.9 billion. Vanguard Capital Management LLC grew its holdings by 1,139,707 shares, ending with 309,168,582 shares worth about $101.6 billion. State Street Corporation grew its holdings by 5,511,990 shares, ending with 196,900,541 shares worth about $64.7 billion. FMR, LLC grew its holdings by 20,243,298 shares, ending with 144,359,173 shares worth about $47.5 billion. Meanwhile, Vanguard Portfolio Management LLC reduced its holdings by 1,425,540 shares, ending with 127,001,513 shares worth about $41.8 billion.

Broadcom Inc. Stock Down 4.4%

Broadcom shares recently traded around $330.93 as of October 16, 2026. The stock is currently trading about 10.0% below its 50-day moving average of $367.56 and sits 33.1% below its 52-week high of $495.00, though it remains up 14.1% from its 52-week low of $289.96.

Recent Earnings

Broadcom posted trailing-twelve-month revenue of $89.1 billion alongside trailing earnings of $7.59 per share. The chipmaker generated a net profit margin of 42.9% and a return on equity of 44.2%. Its year-over-year revenue growth stood at 85.5%. The company's next earnings report is scheduled for December 9, 2026.

Dividend

Broadcom pays an annual dividend that yields 0.76%, backed by a payout ratio of 32.4%.

Insider Buying and Selling at Broadcom Inc.

Company insiders were active sellers of Broadcom stock ahead of the filing. Director Justine F. Page sold 1,602 shares on June 29, 2026, at an average price of $373.86 for a total value of $598,916. Director Gayla J. Delly sold 1,890 shares on July 8, 2026, at $385.38 per share, totaling $728,368. Officer Mark David Brazeal sold 25,000 shares on July 8, 2026, at $379.19 for $9,479,700, and later sold another 25,000 shares on July 10, 2026, at $401.33 for a total of $10,033,225.

Analysts Set New Price Targets

Wall Street firms have kept a generally positive outlook on the stock. On September 3, 2026, Macquarie upgraded the stock to an Outperform rating with a $490.00 price target. Raymond James maintained an Outperform rating and raised its target from $450.00 to $475.00 on the same day. Citigroup maintained a Buy rating and lifted its target from $500.00 to $515.00 on September 4, 2026. DA Davidson maintained a Neutral rating while lowering its target from $400.00 to $350.00 on September 4, 2026. Piper Sandler initiated coverage with an Overweight rating and a $460.00 target on September 10, 2026. Broadcom currently holds a consensus recommendation of Strong Buy with a mean price target of $527.59 across 47 analyst opinions.

About Broadcom

Broadcom Inc. designs, builds, and supplies a wide array of semiconductor devices and infrastructure software. Its products power networking, data centers, and telecommunications equipment globally. Institutional shifts in companies like Broadcom often point to how major asset managers view the changing demand for networking and AI-related chips.

Bottom Line

Ninety One UK's decision to trim its position reflects a portfolio adjustment during the quarter, though investors should remember that 13F filings only capture past snapshots in time. Watch for Broadcom's upcoming earnings report on December 9, 2026, for fresh updates on its financial health.