Everest Financial Group LLC Buys 10,791 Shares of Broadcom Inc. $AVGO

Everest Financial Group LLC boosted its stake in Broadcom Inc. (NASDAQ:AVGO) by 30.8% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 45,822 shares of the semiconductor manufacturer’s stock after buying an additional 10,791 shares during the period. Broadcom accounts for approximately 2.3% of Everest Financial Group LLC’s holdings, making the stock its 12th largest position. Everest Financial Group LLC’s holdings in Broadcom were worth $14,185,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the stock. Norges Bank bought a new stake in shares of Broadcom in the 4th quarter worth about $24,252,196,000. Cardano Risk Management B.V. lifted its holdings in 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 purchasing an additional 11,414,701 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in Broadcom by 118.1% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 18,739,006 shares of the semiconductor manufacturer’s stock valued at $5,799,889,000 after purchasing an additional 10,145,377 shares during the last quarter. State Street Corp boosted its position 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 buying an additional 5,040,801 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in Broadcom by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 482,707,302 shares of the semiconductor manufacturer’s stock valued at $167,064,997,000 after buying an additional 3,919,715 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors.

Insider Transactions at Broadcom

In related news, Director Gayla J. Delly sold 1,890 shares of the stock in a transaction that occurred on Wednesday, July 8th. The shares were sold at an average price of $385.38, for a total value of $728,368.20. Following the transaction, the director directly owned 31,326 shares in the company, valued at $12,072,413.88. This represents a 5.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Justine Page sold 1,602 shares of the firm’s stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $373.86, for a total transaction of $598,923.72. Following the completion of the transaction, the director directly owned 17,426 shares in the company, valued at approximately $6,514,884.36. The trade was a 8.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 61,644 shares of company stock valued at $24,016,214 in the last three months. Company insiders own 1.90% of the company’s stock.

Broadcom Stock Performance

AVGO stock opened at $383.22 on Tuesday. The company has a 50 day moving average price of $396.67 and a 200 day moving average price of $367.13. Broadcom Inc. has a fifty-two week low of $281.61 and a fifty-two week high of $495.00. 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 stock has a market capitalization of $1.82 trillion, a PE ratio of 63.87, a price-to-earnings-growth ratio of 0.73 and a beta of 1.45.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 EPS for the quarter, beating analysts’ consensus estimates of $2.40 by $0.04. The firm had revenue of $22.19 billion for 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 business’s quarterly revenue was up 47.9% compared to the same quarter last year. During the same period last year, the company earned $1.58 EPS. Analysts forecast that Broadcom Inc. will post 10.24 EPS for the current year.

Broadcom Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 22nd were issued a $0.65 dividend. The ex-dividend date was Monday, June 22nd. This represents a $2.60 annualized dividend and a yield of 0.7%. Broadcom’s dividend payout ratio (DPR) is currently 43.33%.

Analysts Set New Price Targets

Several research firms have recently weighed in on AVGO. Wall Street Zen lowered shares of Broadcom from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 18th. Zacks Research cut Broadcom from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 21st. Rosenblatt Securities reissued a “buy” rating and issued a $500.00 price objective on shares of Broadcom in a research note on Thursday, June 4th. Bank of America increased their target price on Broadcom from $450.00 to $530.00 and gave the stock a “buy” rating in a report on Thursday, June 4th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $515.00 price target (up from $430.00) on shares of Broadcom in a report on Thursday, June 4th. Twenty-eight investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Broadcom presently has an average rating of “Moderate Buy” and an average price target of $493.24.

Trending Headlines about Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Alphabet’s increased AI spending is a major catalyst. Alphabet reportedly plans $195 billion to $205 billion in capital expenditures, while its cloud business posted strong growth. Because Broadcom supplies Alphabet with custom AI processors and related infrastructure, the spending outlook points to potentially higher demand for Broadcom’s technology. Broadcom May Be the Biggest Winner From Alphabet’s Earnings
• Positive Sentiment: Custom-silicon demand and new customer wins are strengthening the growth story. Investor commentary highlighted Broadcom’s momentum in custom AI chips, with demand from large technology companies helping drive expectations for continued expansion. Broadcom Rose on Strong Custom Silicon Demand and New Client Wins
• Positive Sentiment: Broadcom is viewed as a key beneficiary of data-center infrastructure spending. Analysts and financial writers point to its AI networking, custom accelerators and semiconductor infrastructure products as ways to participate in AI growth beyond the dominant GPU market. 3 Top AI Stocks to Buy Now With Data Center Infrastructure Spending Set to Surge
• Neutral Sentiment: Broadcom’s expanded Samsung relationship may improve supply visibility. J.P. Morgan said Samsung is expected to provide most of Broadcom’s memory needs through 2030, supporting execution but also increasing reliance on a major supplier. Broadcom’s Expanded Samsung Pact Shows AI Trade Is Still All About Memory
• Negative Sentiment: High valuation and AI capital-spending concerns remain the principal risks. With a lofty earnings multiple and the stock below its 50-day average, investors may be sensitive to any evidence that hyperscalers are slowing or reassessing AI investment. Recent coverage frames potential capex fears as a buying opportunity, but the risk could still create volatility. Broadcom’s The Perfect Buy as Capex Fears Materialize

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.