Broadcom Inc. $AVGO Shares Acquired by Gotham Asset Management LLC

Gotham Asset Management LLC lifted its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 3.8% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 333,654 shares of the semiconductor manufacturer’s stock after purchasing an additional 12,356 shares during the quarter. Broadcom accounts for approximately 0.4% of Gotham Asset Management LLC’s investment portfolio, making the stock its 13th biggest holding. Gotham Asset Management LLC’s holdings in Broadcom were worth $115,478,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Element Capital Management LLC acquired a new position in shares of Broadcom in the 4th quarter valued at $6,154,000. Evolve Private Wealth LLC acquired a new stake in Broadcom during the 4th quarter worth about $20,098,000. Engineers Gate Manager LP grew its stake in Broadcom by 206.7% during the 4th quarter. Engineers Gate Manager LP now owns 13,342 shares of the semiconductor manufacturer’s stock valued at $4,618,000 after purchasing an additional 8,992 shares during the last quarter. Capitolis Liquid Global Markets LLC increased its holdings in shares of Broadcom by 0.4% in the fourth quarter. Capitolis Liquid Global Markets LLC now owns 2,262,678 shares of the semiconductor manufacturer’s stock valued at $783,113,000 after purchasing an additional 9,728 shares during the period. Finally, Chicago Wealth Management Inc. increased its holdings in shares of Broadcom by 43.7% in the fourth quarter. Chicago Wealth Management Inc. now owns 1,249 shares of the semiconductor manufacturer’s stock valued at $432,000 after purchasing an additional 380 shares during the period. 76.43% of the stock is owned by hedge funds and other institutional investors.

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

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on AVGO. KeyCorp reiterated an “overweight” rating and issued a $575.00 price target (up from $500.00) on shares of Broadcom in a report on Thursday, June 4th. Royal Bank Of Canada increased their price objective on shares of Broadcom from $360.00 to $400.00 and gave the stock a “sector perform” rating in a research note on Thursday, June 4th. TD Cowen restated a “buy” rating and set a $500.00 target price on shares of Broadcom in a research report on Thursday, June 4th. DA Davidson increased their price target on Broadcom from $375.00 to $400.00 and gave the stock a “neutral” rating in a research report on Thursday, June 4th. Finally, UBS Group set a $485.00 price objective on Broadcom and gave the company a “buy” rating in a research note on Thursday, June 4th. One investment 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 data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $490.13.

Broadcom Stock Performance

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

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share for the quarter, beating analysts’ consensus estimates of $2.40 by $0.04. The company had revenue of $22.19 billion during the quarter, compared to analysts’ expectations of $22.13 billion. Broadcom had a net margin of 38.85% and a return on equity of 41.61%. The firm’s revenue for the quarter was up 47.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.58 earnings per share. On average, research analysts predict that Broadcom Inc. will post 10.24 earnings per share for the current year.

Broadcom Announces Dividend

The firm 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 dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Monday, June 22nd. Broadcom’s dividend payout ratio is presently 43.33%.

Insider Buying and Selling at Broadcom

In related news, Director Harry L. You bought 1,000 shares of the business’s stock in a transaction dated Thursday, June 11th. The stock was acquired at an average price of $373.57 per share, with a total value of $373,570.00. Following the completion of the purchase, the director directly 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 document filed with the SEC, which is available through the SEC website. Also, Director Gayla J. Delly sold 1,000 shares of the firm’s stock in a transaction dated Thursday, April 9th. The shares were sold at an average price of $358.31, for a total transaction of $358,310.00. Following the completion of the transaction, the director directly owned 32,352 shares in the company, valued at $11,592,045.12. This represents a 3.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 51,233 shares of company stock worth $18,125,134. 1.90% of the stock is currently owned by corporate insiders.

About Broadcom

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.