Cambient Family Office LLC acquired a new position in shares of Broadcom Inc. (NASDAQ:AVGO – Free Report) in the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 10,298 shares of the semiconductor manufacturer’s stock, valued at approximately $3,564,000.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Broadcom during the fourth quarter worth $24,252,196,000. Cardano Risk Management B.V. boosted its holdings in shares of Broadcom by 895.2% during the 4th 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 acquiring an additional 11,414,701 shares in the last quarter. State Street Corp boosted its holdings in shares of Broadcom by 2.7% during the 4th quarter. State Street Corp now owns 190,084,351 shares of the semiconductor manufacturer’s stock valued at $65,788,194,000 after acquiring an additional 5,040,801 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its position in Broadcom by 499.4% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 5,634,232 shares of the semiconductor manufacturer’s stock worth $1,858,789,000 after acquiring an additional 4,694,313 shares during the last quarter. Finally, Vanguard Group Inc. increased its holdings in Broadcom by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 482,707,302 shares of the semiconductor manufacturer’s stock worth $167,064,997,000 after purchasing an additional 3,919,715 shares in the last quarter. Institutional investors own 76.43% of the company’s stock.
Broadcom Stock Performance
NASDAQ:AVGO opened at $411.35 on Friday. The company has a quick ratio of 2.01, a current ratio of 2.24 and a debt-to-equity ratio of 0.71. Broadcom Inc. has a twelve month low of $244.17 and a twelve month high of $495.00. The company has a fifty day moving average of $410.21 and a 200-day moving average of $363.17. The firm has a market capitalization of $1.96 trillion, a P/E ratio of 68.56, a P/E/G ratio of 0.69 and a beta of 1.41.
Broadcom Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 22nd will be issued a dividend of $0.65 per share. The ex-dividend date is Monday, June 22nd. This represents a $2.60 annualized dividend and a dividend yield of 0.6%. Broadcom’s dividend payout ratio is currently 43.33%.
Insider Activity at Broadcom
In related news, insider Mark David Brazeal sold 4,825 shares of the business’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 completion of the sale, the insider directly owned 269,989 shares of the company’s stock, valued at $106,621,355.99. The trade was a 1.76% 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. Over the last ninety days, insiders have sold 59,385 shares of company stock worth $21,301,057. 1.90% of the stock is currently owned by insiders.
Key Stories Impacting Broadcom
Here are the key news stories impacting Broadcom this week:
- Positive Sentiment: Broadcom expanded its cash tender offers for outstanding debt to $3 billion from $2.5 billion after strong investor demand, which can be viewed as a sign of balance-sheet management and helped lift sentiment toward the stock. Broadcom Inc. Announces Results and Upsize of Offers to Purchase for Cash Certain of its Outstanding Debt Securities
- Positive Sentiment: JPMorgan reiterated a bullish view, saying investors should be “aggressive buyers” and arguing the market is underestimating Broadcom’s long-term AI opportunity, reinforcing the rally in AVGO. AVGO stock jumps — JPMorgan says investors should be ‘aggressive buyers’ of Broadcom at current levels
- Positive Sentiment: Citi also highlighted Broadcom as a top chip stock on soaring data-center demand, adding to optimism around AI-driven revenue growth. Citi Touts Broadcom Inc. (AVGO) as a Top Chip Stock on Soaring Data Center Demand
- Neutral Sentiment: Insider Mark David Brazeal sold shares in two June transactions totaling more than 8,100 shares. The sales are notable, but they represent relatively small reductions in a large personal holding and do not necessarily signal a change in the company’s outlook. Mark David Brazeal insider trading page
Analyst Upgrades and Downgrades
A number of brokerages have recently commented on AVGO. JPMorgan Chase & Co. lifted their price target on Broadcom from $500.00 to $580.00 and gave the company an “overweight” rating in a research note on Thursday, June 4th. Erste Group Bank raised Broadcom from a “hold” rating to a “buy” rating in a research note on Friday, June 5th. Wall Street Zen upgraded shares of Broadcom from a “buy” rating to a “strong-buy” rating in a report on Monday. Cantor Fitzgerald reiterated an “overweight” rating and set a $525.00 target price on shares of Broadcom in a research report on Thursday, June 4th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $515.00 target price (up from $430.00) on shares of Broadcom in a report on Thursday, June 4th. One analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, Broadcom presently has a consensus rating of “Moderate Buy” and a consensus price target of $490.13.
Read Our Latest Stock Analysis on AVGO
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.
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