Checchi Capital Advisers LLC Grows Holdings in Broadcom Inc. $AVGO

Checchi Capital Advisers LLC grew its position in Broadcom Inc. (NASDAQ:AVGO) by 5.0% in the first quarter, HoldingsChannel reports. The fund owned 38,941 shares of the semiconductor manufacturer’s stock after acquiring an additional 1,842 shares during the quarter. Checchi Capital Advisers LLC’s holdings in Broadcom were worth $12,053,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. boosted its position in Broadcom by 0.8% during the fourth 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. State Street Corp grew its holdings in Broadcom by 2.7% in the fourth quarter. State Street Corp now owns 190,084,351 shares of the semiconductor manufacturer’s stock valued at $65,788,194,000 after purchasing an additional 5,040,801 shares during the period. Geode Capital Management LLC increased its position in shares of Broadcom by 1.4% in the fourth quarter. Geode Capital Management LLC now owns 111,277,280 shares of the semiconductor manufacturer’s stock valued at $38,396,634,000 after buying an additional 1,548,699 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Broadcom by 3.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 85,546,083 shares of the semiconductor manufacturer’s stock valued at $29,607,500,000 after buying an additional 2,491,644 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Broadcom during the 4th quarter worth approximately $24,252,196,000. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Broadcom

In other Broadcom news, Director Harry L. You bought 1,000 shares of the firm’s stock in a transaction on Thursday, June 11th. The shares were acquired at an average cost of $373.57 per share, with a total value of $373,570.00. Following the purchase, the director directly owned 38,466 shares of the company’s stock, valued at $14,369,743.62. This trade represents a 2.67% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Gayla J. Delly sold 1,890 shares of the business’s stock in a transaction that occurred on Wednesday, July 8th. The stock was sold at an average price of $385.38, for a total value of $728,368.20. Following the transaction, the director owned 31,326 shares in the company, valued at approximately $12,072,413.88. This represents a 5.69% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 61,644 shares of company stock worth $24,016,214 in the last quarter. Insiders own 1.90% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on AVGO shares. KeyCorp reissued an “overweight” rating and issued a $575.00 price target (up from $500.00) on shares of Broadcom in a research note on Thursday, June 4th. Mizuho upped their price objective on shares of Broadcom from $480.00 to $530.00 and gave the stock an “outperform” rating in a research report on Thursday, June 4th. Bank of America increased their price objective on shares of Broadcom from $450.00 to $530.00 and gave the company a “buy” rating in a report on Thursday, June 4th. Erste Group Bank reiterated a “hold” rating on shares of Broadcom in a research report on Tuesday, July 7th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $525.00 price target on shares of Broadcom in a research report on Thursday, June 4th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $493.24.

Key Stories 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 Trading Down 1.0%

Shares of AVGO stock opened at $370.83 on Friday. The stock’s fifty day moving average is $401.29 and its two-hundred day moving average is $365.31. 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 firm has a market capitalization of $1.76 trillion, a P/E ratio of 61.81, a PEG ratio of 0.66 and a beta of 1.45. Broadcom Inc. has a fifty-two week low of $273.00 and a fifty-two week high of $495.00.

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, topping analysts’ consensus estimates of $2.40 by $0.04. The business had revenue of $22.19 billion during the quarter, compared to analyst estimates of $22.13 billion. Broadcom had a net margin of 38.85% and a return on equity of 41.61%. The company’s revenue for the quarter was up 47.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.58 earnings per share. Research analysts expect that Broadcom Inc. will post 10.24 earnings per share for the current fiscal 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 dividend of $0.65 per share. 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%.

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.