Invesco Ltd. Decreases Stock Position in Broadcom Inc. $AVGO

Invesco Ltd. cut its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 11.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 34,650,883 shares of the semiconductor manufacturer’s stock after selling 4,498,768 shares during the quarter. Broadcom makes up about 1.8% of Invesco Ltd.’s investment portfolio, making the stock its 7th biggest position. Invesco Ltd.’s holdings in Broadcom were worth $11,992,671,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. ROSS JOHNSON & Associates LLC boosted its stake in Broadcom by 1,320.0% in the 4th quarter. ROSS JOHNSON & Associates LLC now owns 71 shares of the semiconductor manufacturer’s stock worth $25,000 after purchasing an additional 66 shares during the period. SWAN Capital LLC raised its position in shares of Broadcom by 261.9% during the fourth quarter. SWAN Capital LLC now owns 76 shares of the semiconductor manufacturer’s stock valued at $26,000 after buying an additional 55 shares during the last quarter. Miller Global Investments LLC purchased a new position in shares of Broadcom in the fourth quarter worth $31,000. Nvest Wealth Strategies Inc. bought a new position in shares of Broadcom during the fourth quarter worth $33,000. Finally, Family CFO Inc bought a new position in shares of Broadcom during the fourth quarter worth $35,000. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

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

Broadcom Stock Up 4.7%

Shares of NASDAQ:AVGO opened at $411.35 on Friday. 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 12 month low of $244.17 and a 12 month high of $495.00. The company has a 50-day moving average price of $410.21 and a 200 day moving average price of $363.17. The company has a market cap of $1.96 trillion, a price-to-earnings ratio of 68.56, a PEG ratio of 0.69 and a beta of 1.41.

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

Broadcom Dividend Announcement

The company also recently declared 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. The ex-dividend date of this dividend is Monday, June 22nd. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.6%. Broadcom’s payout ratio is currently 43.33%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Jefferies Financial Group set a $550.00 price objective on Broadcom and gave the company a “buy” rating in a research report on Thursday, June 4th. Morgan Stanley set a $502.00 target price on Broadcom and gave the stock an “overweight” rating in a research report on Thursday, June 4th. Wall Street Zen raised Broadcom from a “buy” rating to a “strong-buy” rating in a research note on Monday. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $515.00 price target (up from $430.00) on shares of Broadcom in a report on Thursday, June 4th. Finally, Zacks Research cut Broadcom from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 21st. One 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 company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $490.13.

Insider Activity at Broadcom

In other Broadcom news, Director Harry L. You bought 1,000 shares of the company’s stock in a transaction on Thursday, June 11th. The stock was acquired at an average price of $373.57 per share, for a total transaction of $373,570.00. Following the completion of the transaction, the director directly owned 38,466 shares of the company’s stock, valued at approximately $14,369,743.62. This represents a 2.67% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider S. Ram Velaga sold 17,260 shares of the business’s stock in a transaction on Thursday, April 9th. The shares were sold at an average price of $352.12, for a total value of $6,077,591.20. Following the transaction, the insider owned 65,932 shares of the company’s stock, valued at approximately $23,215,975.84. The trade was a 20.75% decrease in their position. The SEC filing for this sale provides additional information. Insiders 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 owned by 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.