Rockport Wealth LLC Boosts Holdings in Broadcom Inc. $AVGO

Rockport Wealth LLC boosted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 716.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 34,621 shares of the semiconductor manufacturer’s stock after acquiring an additional 30,379 shares during the period. Broadcom comprises 2.0% of Rockport Wealth LLC’s portfolio, making the stock its 16th largest holding. Rockport Wealth LLC’s holdings in Broadcom were worth $10,721,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of AVGO. Sovran Advisors LLC increased its position in Broadcom by 121.3% during the 4th quarter. Sovran Advisors LLC now owns 30,631 shares of the semiconductor manufacturer’s stock worth $10,507,000 after purchasing an additional 16,789 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in Broadcom by 406.1% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 11,994 shares of the semiconductor manufacturer’s stock valued at $4,151,000 after purchasing an additional 9,624 shares in the last quarter. Aspiriant LLC boosted its stake in shares of Broadcom by 18.5% during the 4th quarter. Aspiriant LLC now owns 12,016 shares of the semiconductor manufacturer’s stock worth $4,158,000 after purchasing an additional 1,872 shares during the last quarter. World Investment Advisors boosted its stake in shares of Broadcom by 16.1% during the 4th quarter. World Investment Advisors now owns 177,710 shares of the semiconductor manufacturer’s stock worth $61,505,000 after purchasing an additional 24,703 shares during the last quarter. Finally, Western Financial Corp CA grew its holdings in shares of Broadcom by 90.5% during the fourth quarter. Western Financial Corp CA now owns 6,481 shares of the semiconductor manufacturer’s stock worth $2,243,000 after buying an additional 3,079 shares in the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Key Stories Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Standard Chartered chose Broadcom to support a long-term modernization of its global banking infrastructure, underscoring Broadcom’s role in secure private-cloud and enterprise networking solutions. Standard Chartered Selects Broadcom to Deliver Secure, Always-On Banking Services at Global Scale
• Positive Sentiment: Wall Street commentary continues to describe Broadcom as a core AI beneficiary, and some analysts have raised price targets even after the stock pullback. As Shares Fall, Analyst Are Boosting Their Broadcom Price Targets
• Neutral Sentiment: Broadcom remains a major talking point in AI-focused market coverage, with some investors viewing it as an indicator for the broader market and semiconductor cycle. Jim Cramer Says Broadcom Will Tell You When the Market Is About to Turn
• Negative Sentiment: Broadcom is facing renewed skepticism around valuation, with one report asking whether the AI story has made the stock too expensive. Has Broadcom Become Too Expensive for Its AI Story?
• Negative Sentiment: The stock is also being hit by a broader selloff in semiconductor names as investors rotate away from AI-capex winners and worry about a slowdown in chip spending. Marvell Drops 8% as AI Capex Slowdown Fears Weigh on Chips; Broadcom, AMD, and Intel Slide
• Negative Sentiment: Broadcom is also dealing with regulatory uncertainty after reports said it faces an EU antitrust review tied to VMware licensing changes. Broadcom (AVGO) Faces EU Antitrust Review Over VMware Licensing Changes

Broadcom Price Performance

AVGO stock opened at $370.83 on Monday. The stock has a 50-day moving average price of $401.29 and a two-hundred day moving average price of $365.42. Broadcom Inc. has a 12-month low of $273.00 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. The company has a market cap of $1.76 trillion, a PE ratio of 61.81, a price-to-earnings-growth ratio of 0.65 and a beta of 1.45.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 EPS 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 the consensus estimate of $22.13 billion. Broadcom had a return on equity of 41.61% and a net margin of 38.85%.The company’s quarterly revenue was up 47.9% compared to the same quarter last year. During the same period last year, the business posted $1.58 EPS. As a group, research analysts predict that Broadcom Inc. will post 10.24 EPS for the current year.

Broadcom Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 22nd were given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Monday, June 22nd. Broadcom’s dividend payout ratio is 43.33%.

Insider Buying and Selling at Broadcom

In other Broadcom news, insider Mark David Brazeal sold 25,000 shares of Broadcom stock in a transaction that occurred on Friday, July 10th. The shares were sold at an average price of $401.33, for a total transaction of $10,033,250.00. Following the transaction, the insider directly owned 194,989 shares of the company’s stock, valued at $78,254,935.37. The trade was a 11.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Justine Page sold 1,602 shares of the business’s stock in a transaction that occurred on 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. This represents a 8.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 61,644 shares of company stock worth $24,016,214. 1.90% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. Zacks Research lowered shares of Broadcom from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 21st. Jefferies Financial Group set a $550.00 target price on shares of Broadcom and gave the stock a “buy” rating in a research report on Thursday, June 4th. Truist Financial boosted their price target on Broadcom from $545.00 to $550.00 and gave the company a “buy” rating in a report on Thursday, June 4th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $515.00 price target (up from $430.00) on shares of Broadcom in a research note on Thursday, June 4th. Finally, The Goldman Sachs Group restated a “buy” rating and set a $525.00 price objective on shares of Broadcom in a report on Thursday, June 4th. One analyst has rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $493.24.

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.