Broadcom Inc. $AVGO is Strengthening Families & Communities LLC’s 10th Largest Position

Strengthening Families & Communities LLC boosted its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 14.5% during the 4th quarter, HoldingsChannel reports. The fund owned 24,761 shares of the semiconductor manufacturer’s stock after purchasing an additional 3,140 shares during the period. Broadcom accounts for about 3.1% of Strengthening Families & Communities LLC’s holdings, making the stock its 10th largest position. Strengthening Families & Communities LLC’s holdings in Broadcom were worth $8,570,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in AVGO. Miller Global Investments LLC bought a new position in shares of Broadcom during the 4th quarter valued at approximately $31,000. JCIC Asset Management Inc. bought a new stake in Broadcom in the third quarter worth $31,000. Nvest Wealth Strategies Inc. bought a new stake in Broadcom in the fourth quarter worth $33,000. Family CFO Inc purchased a new position in Broadcom during the fourth quarter worth $35,000. Finally, Manning & Napier Advisors LLC bought a new position in Broadcom during the third quarter valued at $34,000. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Broadcom Stock Performance

Shares of NASDAQ:AVGO opened at $439.79 on Friday. The firm’s 50 day simple moving average is $363.46 and its 200-day simple moving average is $354.12. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.73 and a current ratio of 1.90. Broadcom Inc. has a one year low of $221.60 and a one year high of $442.36. The firm has a market cap of $2.08 trillion, a PE ratio of 85.90, a price-to-earnings-growth ratio of 0.86 and a beta of 1.43.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.03 by $0.02. The company had revenue of $19.31 billion for the quarter, compared to analysts’ expectations of $19.10 billion. Broadcom had a return on equity of 38.61% and a net margin of 36.57%.Broadcom’s revenue was up 29.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.60 earnings per share. As a group, equities analysts predict that Broadcom Inc. will post 9.95 EPS for the current year.

Broadcom Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Monday, March 23rd were paid a dividend of $0.65 per share. The ex-dividend date was Monday, March 23rd. This represents a $2.60 annualized dividend and a dividend yield of 0.6%. Broadcom’s dividend payout ratio (DPR) is currently 50.78%.

Wall Street Analysts Forecast Growth

AVGO has been the topic of several recent analyst reports. Benchmark reissued a “buy” rating and issued a $485.00 target price on shares of Broadcom in a research note on Thursday, March 5th. Erste Group Bank downgraded shares of Broadcom from a “buy” rating to a “hold” rating in a research note on Thursday, April 2nd. Morgan Stanley upped their target price on Broadcom from $462.00 to $470.00 and gave the company an “overweight” rating in a research note on Friday, March 6th. Royal Bank Of Canada decreased their price target on Broadcom from $370.00 to $340.00 and set a “sector perform” rating for the company in a research note on Monday, March 2nd. Finally, Wells Fargo & Company restated an “overweight” rating and set a $545.00 price objective (up from $430.00) on shares of Broadcom in a report on Thursday. Two research analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $439.97.

Key Stories Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Wells Fargo and other analysts turned more bullish on Broadcom’s AI chip and data-center networking business, saying Wall Street may be underestimating demand from hyperscaler buildouts. Article Title
• Positive Sentiment: Broadcom is being framed as one of the main winners of the AI capital-spending cycle, with multiple articles highlighting accelerating custom AI silicon revenue and expectations for continued earnings growth into the next report. Article Title
• Positive Sentiment: Investor sentiment was also helped by major institutions and high-profile investors continuing to add to Broadcom positions, reinforcing the view that the AI thesis remains intact. Article Title
• Neutral Sentiment: Broadcom’s valuation remains elevated after its sharp run, so the stock may be sensitive to any sign that AI growth slows or expectations become too optimistic.
• Negative Sentiment: The company is also facing an EU antitrust lawsuit over VMware-related document requests, which adds a legal overhang even though it is not the main driver of today’s move. Article Title

Insider Transactions at Broadcom

In other Broadcom news, insider Mark David Brazeal sold 50,488 shares of the firm’s stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $321.60, for a total transaction of $16,236,940.80. Following the transaction, the insider owned 278,141 shares of the company’s stock, valued at approximately $89,450,145.60. This trade represents a 15.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Charlie B. Kawwas sold 39,116 shares of the company’s stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $321.61, for a total transaction 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. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 324,282 shares of company stock worth $106,425,249. Corporate insiders own 1.90% of the company’s stock.

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.