Broadcom Inc. $AVGO Shares Sold by Kepler Cheuvreux Suisse SA

Kepler Cheuvreux Suisse SA reduced its position in Broadcom Inc. (NASDAQ:AVGO) by 15.3% during the 1st quarter, HoldingsChannel.com reports. The firm owned 73,346 shares of the semiconductor manufacturer’s stock after selling 13,222 shares during the quarter. Broadcom makes up approximately 1.6% of Kepler Cheuvreux Suisse SA’s investment portfolio, making the stock its 22nd biggest position. Kepler Cheuvreux Suisse SA’s holdings in Broadcom were worth $22,696,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. ROSS JOHNSON & Associates LLC lifted its position in Broadcom by 1,320.0% during the fourth quarter. ROSS JOHNSON & Associates LLC now owns 71 shares of the semiconductor manufacturer’s stock valued at $25,000 after buying an additional 66 shares in the last quarter. Networth Advisors LLC increased its position in shares of Broadcom by 546.2% in the first quarter. Networth Advisors LLC now owns 84 shares of the semiconductor manufacturer’s stock worth $26,000 after acquiring an additional 71 shares in the last quarter. SWAN Capital LLC raised its stake in shares of Broadcom by 261.9% in the 4th quarter. SWAN Capital LLC now owns 76 shares of the semiconductor manufacturer’s stock valued at $26,000 after acquiring an additional 55 shares during the period. Miller Global Investments LLC purchased a new position in shares of Broadcom in the 4th quarter valued at $31,000. Finally, Nvest Wealth Strategies Inc. acquired a new position in shares of Broadcom during the 4th quarter valued at $33,000. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Broadcom News Roundup

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Apple expanded its Broadcom relationship with a $30 billion-plus chipmaking commitment, which should provide Broadcom with long-term revenue visibility and support for its AI/custom silicon growth story. Reuters: Apple to spend $30 billion in Broadcom chips deal that will see Colorado factory expand
• Positive Sentiment: Apple’s deal is being framed as a major U.S. manufacturing win and one of Broadcom’s biggest customer commitments, which could lift sentiment around AVGO’s AI infrastructure opportunity. TechCrunch: Apple to produce Made in America wireless chips with Broadcom
• Positive Sentiment: Investor attention is also being fueled by bullish coverage highlighting Broadcom as a top stock pick and an increasingly attractive AI semiconductor name after recent pullbacks. Insider Monkey: Top 5 Stocks to Buy According to Whale Rock Capital Management
• Neutral Sentiment: Some commentary says Broadcom had already pulled back from recent highs, with UBS arguing semiconductor valuations may now offer a more attractive entry point, but this is more valuation commentary than a fresh catalyst. Benzinga: Micron, Broadcom Just Got 25% Cheaper
• Negative Sentiment: One analyst reportedly downgraded Broadcom, suggesting not all views are uniformly bullish despite the Apple deal. Yahoo Finance: This Analyst Just Downgraded Broadcom Stock

Insider Activity at Broadcom

In related news, insider Mark David Brazeal sold 4,825 shares of the company’s stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $394.91, for a total value of $1,905,440.75. Following the sale, the insider directly owned 269,989 shares of the company’s stock, valued at $106,621,355.99. This represents a 1.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Harry L. You acquired 1,000 shares of Broadcom stock in a transaction on Thursday, June 11th. The shares were bought at an average price of $373.57 per share, for a total transaction of $373,570.00. Following the completion of the purchase, the director directly owned 38,466 shares in the company, valued at $14,369,743.62. The trade was a 2.67% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have sold a total of 17,754 shares of company stock worth $6,739,006 in the last ninety days. 1.90% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Mizuho increased their price target on Broadcom from $480.00 to $530.00 and gave the company an “outperform” rating in a report on Thursday, June 4th. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $545.00 target price (up from $430.00) on shares of Broadcom in a research report on Thursday, May 14th. DA Davidson increased their target price on Broadcom from $375.00 to $400.00 and gave the company a “neutral” rating in a research note on Thursday, June 4th. Evercore reiterated an “outperform” rating and set a $582.00 target price on shares of Broadcom in a report on Tuesday, May 19th. Finally, Wall Street Zen upgraded Broadcom from a “buy” rating to a “strong-buy” rating in a report on Wednesday, July 1st. One equities research analyst has rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, Broadcom currently has an average rating of “Moderate Buy” and a consensus target price of $493.24.

Broadcom Stock Up 4.8%

Shares of Broadcom stock opened at $388.69 on Thursday. Broadcom Inc. has a 1-year low of $269.58 and a 1-year high of $495.00. The company has a market capitalization of $1.85 trillion, a PE ratio of 64.78, a P/E/G ratio of 0.65 and a beta of 1.45. 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 business has a 50-day moving average of $405.37 and a 200-day moving average of $363.44.

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

Broadcom Announces Dividend

The business 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 dividend on an annualized basis and a dividend yield of 0.7%. Broadcom’s dividend payout ratio (DPR) is presently 43.33%.

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.