Journey Advisory Group LLC Sells 2,304 Shares of Broadcom Inc. $AVGO

Journey Advisory Group LLC reduced its position in Broadcom Inc. (NASDAQ:AVGO) by 3.8% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 57,920 shares of the semiconductor manufacturer’s stock after selling 2,304 shares during the period. Broadcom comprises approximately 1.5% of Journey Advisory Group LLC’s holdings, making the stock its 18th largest position. Journey Advisory Group LLC’s holdings in Broadcom were worth $17,927,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Peninsula Asset Management Inc. boosted its stake in Broadcom by 59.3% during the 1st quarter. Peninsula Asset Management Inc. now owns 11,571 shares of the semiconductor manufacturer’s stock valued at $3,581,000 after purchasing an additional 4,309 shares during the last quarter. Harmony Asset Management LLC increased its holdings in shares of Broadcom by 1.4% in the 1st quarter. Harmony Asset Management LLC now owns 9,107 shares of the semiconductor manufacturer’s stock worth $2,819,000 after purchasing an additional 126 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. raised its stake in shares of Broadcom by 61.4% in the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 736,534 shares of the semiconductor manufacturer’s stock worth $227,960,000 after purchasing an additional 280,124 shares during the last quarter. Avanda Investment Management Pte. Ltd. raised its stake in shares of Broadcom by 43.1% in the first quarter. Avanda Investment Management Pte. Ltd. now owns 9,160 shares of the semiconductor manufacturer’s stock worth $2,835,000 after purchasing an additional 2,760 shares during the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in shares of Broadcom by 8.9% during the first quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 289,518 shares of the semiconductor manufacturer’s stock valued at $89,562,000 after purchasing an additional 23,700 shares in the last quarter. 76.43% of the stock is owned by institutional investors.

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

Analyst Ratings Changes

Several research firms recently commented on AVGO. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $525.00 price objective on shares of Broadcom in a research report on Thursday, June 4th. Wall Street Zen lowered Broadcom from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Citigroup restated a “buy” rating on shares of Broadcom in a research note on Thursday, June 4th. Weiss Ratings raised shares of Broadcom from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday. Finally, Zacks Research lowered shares of Broadcom from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 21st. One investment 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.

Insider Buying and Selling

In other Broadcom news, insider Mark David Brazeal sold 25,000 shares of the business’s stock in a transaction dated Friday, July 10th. The stock was sold at an average price of $401.33, for a total transaction of $10,033,250.00. Following the completion of the sale, the insider owned 194,989 shares of the company’s stock, valued at approximately $78,254,935.37. The trade was a 11.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Gayla J. Delly sold 1,890 shares of the business’s stock in a transaction dated Wednesday, July 8th. The shares were sold at an average price of $385.38, for a total value of $728,368.20. Following the sale, the director directly owned 31,326 shares of the company’s stock, valued at $12,072,413.88. This represents a 5.69% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 61,644 shares of company stock valued at $24,016,214. Company insiders own 1.90% of the company’s stock.

Broadcom Stock Performance

AVGO opened at $370.83 on Friday. The company’s 50 day moving average is $401.29 and its 200 day moving average is $365.31. The company has a current ratio of 2.24, a quick ratio of 2.01 and a debt-to-equity ratio of 0.71. The company has a market cap of $1.76 trillion, a price-to-earnings ratio of 61.81, a PEG ratio of 0.65 and a beta of 1.45. Broadcom Inc. has a 12-month low of $273.00 and a 12-month high of $495.00.

Broadcom (NASDAQ:AVGO) last announced its earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 EPS 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 analysts’ expectations of $22.13 billion. During the same period in the prior year, the company earned $1.58 earnings per share. The firm’s revenue was up 47.9% on a year-over-year basis. On average, equities research analysts predict 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. Stockholders of record on Monday, June 22nd were given a dividend of $0.65 per share. The ex-dividend date of this dividend was Monday, June 22nd. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.7%. Broadcom’s payout ratio is presently 43.33%.

About Broadcom

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.