Broadcom Inc. $AVGO Stock Position Increased by Private Wealth Partners LLC

Private Wealth Partners LLC increased its position in Broadcom Inc. (NASDAQ:AVGO) by 48.2% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 7,492 shares of the semiconductor manufacturer’s stock after acquiring an additional 2,438 shares during the period. Private Wealth Partners LLC’s holdings in Broadcom were worth $2,319,000 at the end of the most recent reporting period.

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

Insiders Place Their Bets

In other news, insider Mark David Brazeal sold 4,825 shares of the company’s stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $394.91, for a total value of $1,905,440.75. Following the transaction, the insider owned 269,989 shares in the company, valued at $106,621,355.99. This represents a 1.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Harry L. You purchased 1,000 shares of Broadcom stock in a transaction dated Thursday, June 11th. The stock was bought at an average cost of $373.57 per share, with a total value of $373,570.00. Following the completion of the transaction, the director directly owned 38,466 shares of the company’s stock, valued at $14,369,743.62. This represents a 2.67% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders sold a total of 17,754 shares of company stock valued at $6,739,006 in the last 90 days. Insiders own 1.90% of the company’s stock.

Broadcom Trading Up 4.8%

NASDAQ AVGO opened at $388.69 on Thursday. The firm’s 50 day moving average price is $405.37 and its two-hundred day moving average price is $363.44. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.01 and a current ratio of 2.24. Broadcom Inc. has a twelve month low of $269.58 and a twelve month high of $495.00. The stock has a market cap of $1.85 trillion, a price-to-earnings ratio of 64.78, a PEG ratio of 0.65 and a beta of 1.45.

Broadcom (NASDAQ:AVGO) last released its earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.40 by $0.04. The company had revenue of $22.19 billion during 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 company’s revenue for the quarter was up 47.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.58 earnings per share. Equities analysts anticipate that Broadcom Inc. will post 10.24 EPS for the current year.

Broadcom Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors 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 dividend payout ratio is currently 43.33%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on AVGO. Royal Bank Of Canada lifted their price target on shares of Broadcom from $360.00 to $400.00 and gave the stock a “sector perform” rating in a research report on Thursday, June 4th. Weiss Ratings lowered Broadcom from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, June 26th. Zacks Research cut Broadcom from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 21st. Jefferies Financial Group set a $550.00 target price on Broadcom and gave the stock a “buy” rating in a research report on Thursday, June 4th. Finally, Evercore reiterated an “outperform” rating and issued a $582.00 price target on shares of Broadcom in a research report on Tuesday, May 19th. One analyst has rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, Broadcom has an average rating of “Moderate Buy” and an average target price of $493.24.

More Broadcom News

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

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.