McLaughlin Asset Management Inc. Takes $3.50 Million Position in Broadcom Inc. $AVGO

McLaughlin Asset Management Inc. bought a new position in shares of Broadcom Inc. (NASDAQ:AVGO) during the fourth quarter, Holdings Channel reports. The firm bought 10,100 shares of the semiconductor manufacturer’s stock, valued at approximately $3,496,000. Broadcom accounts for 3.1% of McLaughlin Asset Management Inc.’s investment portfolio, making the stock its 5th biggest holding.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AVGO. Bauman Advisory Group LLC purchased a new position in shares of Broadcom in the 4th quarter worth about $257,000. White Knight Strategic Wealth Advisors LLC raised its position in Broadcom by 1.1% in the fourth quarter. White Knight Strategic Wealth Advisors LLC now owns 3,872 shares of the semiconductor manufacturer’s stock worth $1,340,000 after acquiring an additional 44 shares during the period. Professional Financial Solutions LLC ADV bought a new stake in Broadcom in the fourth quarter worth about $2,977,000. Mcguire Capital Advisors Inc. purchased a new position in Broadcom in the fourth quarter valued at about $548,000. Finally, Hamilton Wealth LLC grew its position in shares of Broadcom by 5.2% during the 4th quarter. Hamilton Wealth LLC now owns 4,157 shares of the semiconductor manufacturer’s stock valued at $1,439,000 after acquiring an additional 206 shares during the period. 76.43% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Broadcom

In other news, insider Charlie B. Kawwas sold 10,000 shares of the company’s stock in a transaction dated Wednesday, April 8th. The stock was sold at an average price of $345.23, for a total transaction of $3,452,300.00. Following the sale, the insider directly owned 787,184 shares in the company, valued at $271,759,532.32. This represents a 1.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider S. Ram Velaga sold 8,000 shares of the stock in a transaction dated Friday, April 10th. The stock was sold at an average price of $370.52, for a total transaction of $2,964,160.00. Following the completion of the sale, the insider directly owned 57,932 shares in the company, valued at approximately $21,464,964.64. The trade was a 12.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 59,385 shares of company stock worth $21,301,057 in the last three months. 1.90% of the stock is currently owned by corporate insiders.

Broadcom Stock Up 4.7%

AVGO opened at $411.35 on Friday. The company has a 50 day moving average of $410.21 and a 200 day moving average of $363.17. The company has a market cap of $1.96 trillion, a PE ratio of 68.56, a price-to-earnings-growth ratio of 0.69 and a beta of 1.41. Broadcom Inc. has a 12 month low of $244.17 and a 12 month high of $495.00. 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 (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 business had revenue of $22.19 billion during the quarter, compared to analyst estimates of $22.13 billion. Broadcom had a net margin of 38.85% and a return on equity of 41.61%. Broadcom’s revenue was up 47.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.58 EPS. On average, sell-side analysts expect that Broadcom Inc. will post 10.24 EPS for the current year.

Broadcom Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 22nd will be paid a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date is Monday, June 22nd. Broadcom’s payout ratio is presently 43.33%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on AVGO shares. The Goldman Sachs Group restated a “buy” rating and set a $525.00 price target on shares of Broadcom in a research note on Thursday, June 4th. Mizuho increased their price objective on Broadcom from $480.00 to $530.00 and gave the company an “outperform” rating in a report on Thursday, June 4th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $515.00 target price (up from $430.00) on shares of Broadcom in a research report on Thursday, June 4th. Rosenblatt Securities restated a “buy” rating and issued a $500.00 target price on shares of Broadcom in a research note on Thursday, June 4th. Finally, Jefferies Financial Group set a $550.00 price target on Broadcom and gave the company a “buy” rating in a research report on Thursday, June 4th. One research analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $490.13.

Trending Headlines about Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom expanded its cash tender offers for outstanding debt to $3 billion from $2.5 billion after strong investor demand, which can be viewed as a sign of balance-sheet management and helped lift sentiment toward the stock. Broadcom Inc. Announces Results and Upsize of Offers to Purchase for Cash Certain of its Outstanding Debt Securities
• Positive Sentiment: JPMorgan reiterated a bullish view, saying investors should be “aggressive buyers” and arguing the market is underestimating Broadcom’s long-term AI opportunity, reinforcing the rally in AVGO. AVGO stock jumps — JPMorgan says investors should be ‘aggressive buyers’ of Broadcom at current levels
• Positive Sentiment: Citi also highlighted Broadcom as a top chip stock on soaring data-center demand, adding to optimism around AI-driven revenue growth. Citi Touts Broadcom Inc. (AVGO) as a Top Chip Stock on Soaring Data Center Demand
• Neutral Sentiment: Insider Mark David Brazeal sold shares in two June transactions totaling more than 8,100 shares. The sales are notable, but they represent relatively small reductions in a large personal holding and do not necessarily signal a change in the company’s outlook. Mark David Brazeal insider trading page

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.