Broadcom Inc. $AVGO Shares Sold by Midwest Professional Planners LTD.

Midwest Professional Planners LTD. trimmed its position in Broadcom Inc. (NASDAQ:AVGO) by 8.0% in the first quarter, according to its most recent filing with the SEC. The fund owned 38,335 shares of the semiconductor manufacturer’s stock after selling 3,311 shares during the period. Broadcom accounts for approximately 2.8% of Midwest Professional Planners LTD.’s investment portfolio, making the stock its 4th biggest position. Midwest Professional Planners LTD.’s holdings in Broadcom were worth $11,865,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Fullerton Advisors LLC raised its position in Broadcom by 1.3% in the first quarter. Fullerton Advisors LLC now owns 1,989 shares of the semiconductor manufacturer’s stock valued at $616,000 after purchasing an additional 25 shares during the last quarter. NORTHSTAR ASSET MANAGEMENT Co boosted its stake in shares of Broadcom by 0.5% during the first quarter. NORTHSTAR ASSET MANAGEMENT Co now owns 5,350 shares of the semiconductor manufacturer’s stock valued at $1,656,000 after purchasing an additional 25 shares in the last quarter. RFG Holdings Inc. grew its holdings in shares of Broadcom by 0.3% during the first quarter. RFG Holdings Inc. now owns 8,499 shares of the semiconductor manufacturer’s stock worth $2,631,000 after purchasing an additional 26 shares during the last quarter. Yukon Wealth Management Inc. grew its holdings in shares of Broadcom by 1.1% during the first quarter. Yukon Wealth Management Inc. now owns 2,501 shares of the semiconductor manufacturer’s stock worth $774,000 after purchasing an additional 26 shares during the last quarter. Finally, Capital Planning LLC increased its stake in shares of Broadcom by 0.7% in the first quarter. Capital Planning LLC now owns 4,044 shares of the semiconductor manufacturer’s stock valued at $1,252,000 after buying an additional 28 shares during the period. Institutional investors and hedge funds own 76.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on AVGO. Seaport Research Partners reiterated a “neutral” rating on shares of Broadcom in a report on Wednesday, April 8th. Weiss Ratings raised shares of Broadcom from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday. Jefferies Financial Group set a $550.00 price target on shares of Broadcom and gave the company a “buy” rating in a research report on Thursday, June 4th. Evercore reaffirmed an “outperform” rating and set a $582.00 price target on shares of Broadcom in a research note on Tuesday, May 19th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $525.00 price objective on shares of Broadcom in a research note on Thursday, June 4th. One equities research 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 company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $493.24.

Key Headlines 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 Stock Performance

Shares of AVGO stock opened at $370.83 on Friday. The business’s 50 day simple moving average is $401.29 and its 200 day simple moving average is $365.31. Broadcom Inc. has a one year low of $273.00 and a one year high of $495.00. The stock has a market capitalization of $1.76 trillion, a PE ratio of 61.81, a PEG 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.

Broadcom (NASDAQ:AVGO) last released its earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share for the quarter, beating analysts’ consensus estimates of $2.40 by $0.04. Broadcom had a net margin of 38.85% and a return on equity of 41.61%. The business 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 firm posted $1.58 EPS. The company’s revenue for the quarter was up 47.9% compared to the same quarter last year. As a group, research analysts forecast that Broadcom Inc. will post 10.24 earnings per share for the current year.

Broadcom Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 22nd were paid 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 (DPR) is currently 43.33%.

Insider Activity

In related news, insider Mark David Brazeal sold 25,000 shares of the business’s stock in a transaction on Friday, July 10th. The shares were sold at an average price of $401.33, for a total value of $10,033,250.00. Following the transaction, the insider owned 194,989 shares in the company, valued at $78,254,935.37. The trade was a 11.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Harry L. You purchased 1,000 shares of the business’s stock in a transaction 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 transaction, the director directly owned 38,466 shares of the company’s stock, valued at approximately $14,369,743.62. The trade was a 2.67% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders sold 61,644 shares of company stock worth $24,016,214 over the last ninety days. Corporate insiders own 1.90% of the company’s stock.

Broadcom 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.