Broadcom Inc. $AVGO Position Increased by Alta Park Capital LP

Alta Park Capital LP raised its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 11.6% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 55,715 shares of the semiconductor manufacturer’s stock after buying an additional 5,780 shares during the period. Broadcom comprises 2.3% of Alta Park Capital LP’s holdings, making the stock its 20th largest position. Alta Park Capital LP’s holdings in Broadcom were worth $19,283,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. ROSS JOHNSON & Associates LLC lifted its position in shares of Broadcom by 1,320.0% in the fourth quarter. ROSS JOHNSON & Associates LLC now owns 71 shares of the semiconductor manufacturer’s stock worth $25,000 after purchasing an additional 66 shares in the last quarter. SWAN Capital LLC lifted its position in shares of Broadcom by 261.9% in the fourth quarter. SWAN Capital LLC now owns 76 shares of the semiconductor manufacturer’s stock worth $26,000 after purchasing an additional 55 shares in the last quarter. Miller Global Investments LLC purchased a new stake in shares of Broadcom in the fourth quarter worth approximately $31,000. Nvest Wealth Strategies Inc. purchased a new stake in shares of Broadcom in the fourth quarter worth approximately $33,000. Finally, Family CFO Inc purchased a new stake in shares of Broadcom in the fourth quarter worth approximately $35,000. 76.43% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. JPMorgan Chase & Co. increased their price target on shares of Broadcom from $500.00 to $580.00 and gave the stock an “overweight” rating in a research report on Thursday, June 4th. UBS Group set a $485.00 price objective on Broadcom and gave the stock a “buy” rating in a report on Thursday, June 4th. Mizuho increased their price objective on Broadcom from $480.00 to $530.00 and gave the stock an “outperform” rating in a report on Thursday, June 4th. Evercore restated an “outperform” rating and issued a $582.00 price objective on shares of Broadcom in a report on Tuesday, May 19th. Finally, Wells Fargo & Company restated an “overweight” rating and issued a $545.00 price objective (up from $430.00) on shares of Broadcom in a report on Thursday, May 14th. One research analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $490.13.

Insider Buying and Selling

In other news, Director Harry L. You bought 1,000 shares of Broadcom stock in a transaction dated Thursday, June 11th. The shares were bought at an average price of $373.57 per share, for a total transaction of $373,570.00. Following the purchase, the director owned 38,466 shares of the company’s stock, valued at approximately $14,369,743.62. This trade represents a 2.67% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Charlie B. Kawwas sold 10,000 shares of the business’s stock in a transaction on Wednesday, April 8th. The shares were sold at an average price of $345.23, for a total transaction of $3,452,300.00. Following the completion of the sale, the insider owned 787,184 shares in the company, valued at $271,759,532.32. This represents a 1.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 51,233 shares of company stock worth $18,125,134 in the last three months. Company insiders own 1.90% of the company’s stock.

Broadcom Trading Up 4.3%

Shares of Broadcom stock opened at $392.90 on Thursday. The company’s fifty day simple moving average is $408.66 and its 200-day simple moving average is $363.11. The company has a market cap of $1.87 trillion, a price-to-earnings ratio of 65.48, a PEG ratio of 0.66 and a beta of 1.41. The company has a current ratio of 2.24, a quick ratio of 2.01 and a debt-to-equity ratio of 0.71. Broadcom Inc. has a 1 year low of $244.17 and a 1 year high of $495.00.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.40 by $0.04. The business had revenue of $22.19 billion for the quarter, compared to the consensus estimate of $22.13 billion. Broadcom had a net margin of 38.85% and a return on equity of 41.61%. Broadcom’s quarterly revenue was up 47.9% on a year-over-year basis. During the same quarter last year, the company posted $1.58 earnings per share. As a group, sell-side analysts expect that Broadcom Inc. will post 10.24 EPS for the current year.

Broadcom Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 22nd will be paid a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Monday, June 22nd. Broadcom’s payout ratio is currently 43.33%.

Broadcom News Roundup

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: JPMorgan reiterated a bullish stance on Broadcom, saying the market may be underestimating its long-term AI opportunity and calling the shares attractive at current levels. Barrons article
• Positive Sentiment: Other coverage highlighted Broadcom’s “massive AI pipeline” and the company’s growing role in AI infrastructure, reinforcing expectations for multi-year revenue growth. Benzinga article
• Positive Sentiment: Broadcom announced pricing terms for cash tender offers to repurchase portions of its outstanding debt, a move that can support balance-sheet management and financial flexibility. PR Newswire article
• Neutral Sentiment: Commentary on Broadcom’s latest quarter noted strong AI-chip demand and revenue growth, but also pointed to gross margin pressure and cautious guidance, which may be keeping some investors from getting more aggressive. Zacks article
• Negative Sentiment: Some broader AI-stock commentary has compared today’s AI capex boom to the dot-com era, renewing valuation and cycle-risk concerns across the sector that could weigh on sentiment for AVGO. 247WallSt article

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.