Dividend Assets Capital LLC boosted its stake in shares of Broadcom Inc. (NASDAQ:AVGO – Free Report) by 26.3% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 42,299 shares of the semiconductor manufacturer’s stock after acquiring an additional 8,816 shares during the period. Broadcom comprises about 2.6% of Dividend Assets Capital LLC’s holdings, making the stock its 10th biggest holding. Dividend Assets Capital LLC’s holdings in Broadcom were worth $13,092,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Marietta Investment Partners LLC grew its position in shares of Broadcom by 0.7% in the first quarter. Marietta Investment Partners LLC now owns 23,957 shares of the semiconductor manufacturer’s stock valued at $7,415,000 after purchasing an additional 160 shares during the period. Columbia Bank raised its position in shares of Broadcom by 3.3% during the 1st quarter. Columbia Bank now owns 5,972 shares of the semiconductor manufacturer’s stock worth $1,848,000 after purchasing an additional 190 shares during the last quarter. Fortune 45 LLC boosted its holdings in Broadcom by 33.9% in the 1st quarter. Fortune 45 LLC now owns 2,284 shares of the semiconductor manufacturer’s stock worth $707,000 after buying an additional 578 shares during the last quarter. DGS Capital Management LLC boosted its holdings in Broadcom by 13.5% in the 1st quarter. DGS Capital Management LLC now owns 17,374 shares of the semiconductor manufacturer’s stock worth $5,377,000 after buying an additional 2,064 shares during the last quarter. Finally, Indiana Trust & Investment Management Co increased its stake in Broadcom by 10.0% during the 1st quarter. Indiana Trust & Investment Management Co now owns 5,830 shares of the semiconductor manufacturer’s stock worth $1,804,000 after buying an additional 530 shares in the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.
Insider Activity
In other news, Director Harry L. You acquired 1,000 shares of the company’s stock in a transaction that occurred on Thursday, June 11th. The stock was purchased at an average price of $373.57 per share, with a total value of $373,570.00. Following the completion of the acquisition, the director owned 38,466 shares of the company’s stock, valued at $14,369,743.62. This trade represents a 2.67% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Justine Page sold 1,602 shares of the firm’s stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $373.86, for a total transaction of $598,923.72. Following the sale, the director owned 17,426 shares of the company’s stock, valued at approximately $6,514,884.36. The trade was a 8.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 9,754 shares of company stock valued at $3,774,846. 1.90% of the stock is currently owned by insiders.
Wall Street Analysts Forecast Growth
View Our Latest Analysis on AVGO
More Broadcom News
Here are the key news stories impacting Broadcom this week:
- Positive Sentiment: Apple’s multiyear agreement to buy more than $30 billion of Broadcom chips through 2031 reinforces demand for Broadcom’s custom silicon and U.S. manufacturing strategy. Reuters: Apple to spend $30 billion in Broadcom chips deal that will see Colorado factory expand
- Positive Sentiment: Wall Street remains upbeat on Broadcom’s AI chip momentum, with Jefferies reiterating a Buy rating and a $550 price target on improving AI-related growth prospects. Broadcom’s (AVGO) AI Chip Momentum Keeps Wall Street Bullish
- Positive Sentiment: Broader semiconductor sentiment improved as the AI trade rebounded, with analysts and market commentators viewing the recent selloff as a buying opportunity for chip stocks like Broadcom. Broadcom, Intel, Corning, Marvell, and More Stocks That Explain Today’s Market
- Neutral Sentiment: Zacks highlighted Broadcom as a dividend-paying AI infrastructure name, underscoring its mix of income and AI exposure, but this was more of a stock-picking view than a new company-specific catalyst. These Dividend Paying Stocks Offer Strong Exposure to AI Trends
- Negative Sentiment: Erste Group downgraded Broadcom to Hold, citing valuation concerns, which may temper some of the enthusiasm after the recent rally. Erste Group downgrades Broadcom to Hold citing valuation concerns
Broadcom Price Performance
AVGO stock opened at $401.11 on Friday. Broadcom Inc. has a 1 year low of $269.58 and a 1 year high of $495.00. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.24 and a quick ratio of 2.01. The firm has a market capitalization of $1.91 trillion, a PE ratio of 66.85, a price-to-earnings-growth ratio of 0.68 and a beta of 1.45. The business has a 50 day simple moving average of $405.40 and a 200-day simple moving average of $363.87.
Broadcom (NASDAQ:AVGO – Get Free Report) last released its quarterly earnings data on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share for the quarter, topping analysts’ consensus estimates of $2.40 by $0.04. The company had revenue of $22.19 billion for the quarter, compared to analyst estimates of $22.13 billion. Broadcom had a return on equity of 41.61% and a net margin of 38.85%.The firm’s revenue for the quarter was up 47.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.58 earnings per share. Equities research analysts anticipate that Broadcom Inc. will post 10.24 earnings per share for the current fiscal year.
Broadcom Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 22nd were given a dividend of $0.65 per share. The ex-dividend date of this dividend was Monday, June 22nd. This represents a $2.60 annualized dividend and a dividend yield of 0.6%. Broadcom’s payout ratio is presently 43.33%.
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.
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