Modera Wealth Management LLC Sells 21,783 Shares of Broadcom Inc. $AVGO

Modera Wealth Management LLC cut its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 6.4% during the 1st quarter, Holdings Channel reports. The institutional investor owned 316,938 shares of the semiconductor manufacturer’s stock after selling 21,783 shares during the quarter. Broadcom comprises about 1.2% of Modera Wealth Management LLC’s holdings, making the stock its 20th largest position. Modera Wealth Management LLC’s holdings in Broadcom were worth $98,095,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Norges Bank acquired a new position in shares of Broadcom during the fourth quarter worth $24,252,196,000. Cardano Risk Management B.V. increased its holdings in Broadcom by 895.2% in the fourth quarter. Cardano Risk Management B.V. now owns 12,689,800 shares of the semiconductor manufacturer’s stock valued at $4,391,940,000 after purchasing an additional 11,414,701 shares during the period. State Street Corp raised its position in Broadcom by 2.7% during the 4th quarter. State Street Corp now owns 190,084,351 shares of the semiconductor manufacturer’s stock worth $65,788,194,000 after purchasing an additional 5,040,801 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Broadcom by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 482,707,302 shares of the semiconductor manufacturer’s stock worth $167,064,997,000 after buying an additional 3,919,715 shares during the period. Finally, Nordea Investment Management AB lifted its holdings in Broadcom by 47.5% during the 4th quarter. Nordea Investment Management AB now owns 9,814,757 shares of the semiconductor manufacturer’s stock worth $3,406,211,000 after buying an additional 3,160,586 shares during the period. 76.43% of the stock is owned by institutional investors.

Broadcom Price Performance

Broadcom stock opened at $378.16 on Tuesday. The stock has a market capitalization of $1.80 trillion, a price-to-earnings ratio of 63.03, a PEG ratio of 0.65 and a beta of 1.45. Broadcom Inc. has a 52-week low of $273.00 and a 52-week high of $495.00. 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 stock’s 50 day moving average price is $400.28 and its two-hundred day moving average price is $365.62.

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 the consensus estimate of $2.40 by $0.04. Broadcom had a net margin of 38.85% and a return on equity of 41.61%. The company had revenue of $22.19 billion during the quarter, compared to analyst estimates of $22.13 billion. During the same quarter in the previous year, the business posted $1.58 EPS. Broadcom’s revenue for the quarter was up 47.9% compared to the same quarter last year. On average, equities analysts predict that Broadcom Inc. will post 10.24 earnings per share for the current year.

Broadcom Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 22nd were paid a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Monday, June 22nd. Broadcom’s payout ratio is 43.33%.

Insider Activity at Broadcom

In related news, Director Justine Page sold 1,602 shares of the business’s stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $373.86, for a total value of $598,923.72. Following the completion of the sale, the director directly owned 17,426 shares of the company’s stock, valued at $6,514,884.36. The trade was a 8.42% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Harry L. You purchased 1,000 shares of the company’s stock in a transaction that occurred on Thursday, June 11th. The shares were purchased at an average cost of $373.57 per share, for a total transaction of $373,570.00. Following the completion of the purchase, the director owned 38,466 shares in the company, valued at $14,369,743.62. This trade represents a 2.67% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have sold a total of 61,644 shares of company stock worth $24,016,214 over the last three months. 1.90% of the stock is currently owned by company insiders.

Key Stories Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Morgan Stanley said Broadcom remains one of its preferred ways to play the AI infrastructure buildout, calling AVGO an attractive risk-reward name after the recent semiconductor pullback. Broadcom stock gains 2% today: here’s why
• Positive Sentiment: Analysts and market commentary highlighted Broadcom as a high-cash-flow AI chip stock that could benefit as investors look for quality names amid market volatility. 4 High Cash-Producing AI Chip Stocks to Buy Amid Market Uncertainties
• Positive Sentiment: Broadcom’s AI business is being viewed as a key driver of the investment case, with reports noting strong AI chip revenue growth and a larger shift toward AI-related mix. AMD vs. Broadcom: The Better AI-Chip Stock to Buy After the Sell-Off
• Positive Sentiment: Broadcom also announced a major infrastructure software deal with Standard Chartered to modernize banking cloud operations across 54 markets, which supports its VMware-based software revenue stream. Broadcom (AVGO) Lands Standard Chartered Deal To Power Banking Cloud In 54 Markets
• Neutral Sentiment: Broadcom was included in broader “buy the dip” chip-sector commentary as investors looked for value after the recent memory and AI semiconductor sell-off. The Memory Stock Sell-Off Created a ‘Strong Entry Point,’ Says Morgan Stanley. Investors Are Buying In.
• Negative Sentiment: Recent articles also noted that semiconductor stocks had fallen into a bear market after a sharp index decline, reflecting ongoing sectorwide pressure that could cap gains for AVGO. Semiconductor stocks enter bear market: Is bubble burst next?

Analyst Ratings Changes

Several equities research analysts have recently weighed in on AVGO shares. Benchmark increased their price target on Broadcom from $485.00 to $545.00 and gave the company a “buy” rating in a research note on Thursday, June 4th. Oppenheimer reiterated an “outperform” rating and issued a $535.00 target price (up from $450.00) on shares of Broadcom in a report on Thursday, June 4th. Cantor Fitzgerald reissued an “overweight” rating and set a $525.00 target price on shares of Broadcom in a research report on Thursday, June 4th. Zacks Research lowered shares of Broadcom from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 21st. Finally, Weiss Ratings upgraded shares of Broadcom from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, July 15th. One analyst has rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $493.24.

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.