Piedmont Capital Management LLC NC Invests $1.09 Million in Broadcom Inc. $AVGO

Piedmont Capital Management LLC NC acquired a new position in shares of Broadcom Inc. (NASDAQ:AVGO) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 3,148 shares of the semiconductor manufacturer’s stock, valued at approximately $1,090,000. Broadcom makes up approximately 0.7% of Piedmont Capital Management LLC NC’s investment portfolio, making the stock its 21st biggest holding.

A number of other institutional investors have also added to or reduced their stakes in the stock. ROSS JOHNSON & Associates LLC raised 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 buying an additional 66 shares during the last quarter. SWAN Capital LLC raised its holdings in Broadcom by 261.9% during 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 during the last quarter. Miller Global Investments LLC bought a new position in Broadcom during the 4th quarter worth approximately $31,000. Nvest Wealth Strategies Inc. bought a new position in Broadcom during the 4th quarter worth approximately $33,000. Finally, Family CFO Inc bought a new position in Broadcom during the 4th quarter worth approximately $35,000. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Key Stories Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Director Harry L. You bought 1,000 Broadcom shares in a disclosed SEC filing, a vote of confidence that can reassure investors about the company’s outlook. SEC Form 4 filing
• Positive Sentiment: Recent articles continue to frame Broadcom as a major beneficiary of the AI infrastructure buildout, with investors focusing on its custom compute, networking, and semiconductor exposure. Investopedia article
• Positive Sentiment: Broadcom was included in bullish commentary about “beaten down” AI infrastructure stocks, suggesting some investors see the recent pullback as a buying opportunity rather than a fundamental deterioration. 247WallSt article
• Positive Sentiment: Wall Street Zen reportedly upgraded Broadcom to Strong-Buy, adding to the bullish analyst tone around the stock. American Banking News article
• Neutral Sentiment: Some coverage compared Broadcom with other AI infrastructure names and noted that competitors may have stronger near-term upside, which could temper enthusiasm but does not change Broadcom’s long-term AI thesis. Zacks article
• Negative Sentiment: Recent market commentary said Broadcom’s stock pulled back after record quarterly results because investors were focused on cautious AI guidance and valuation concerns, which may be weighing on sentiment. Yahoo Finance article

Insiders Place Their Bets

In related news, Director Gayla J. Delly sold 1,000 shares of Broadcom stock in a transaction on Thursday, April 9th. The shares were sold at an average price of $358.31, for a total value of $358,310.00. Following the completion of the sale, the director owned 32,352 shares of the company’s stock, valued at approximately $11,592,045.12. This trade represents a 3.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Harry L. You purchased 1,000 shares of Broadcom stock in a transaction that occurred on Thursday, June 11th. The stock was acquired at an average cost of $373.57 per share, with a total value of $373,570.00. Following the transaction, 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. The disclosure for this purchase is available in the SEC filing. Insiders have sold a total of 51,233 shares of company stock worth $18,125,134 in the last quarter. Insiders own 1.90% of the company’s stock.

Broadcom Stock Performance

Shares of AVGO stock opened at $393.94 on Tuesday. The company has a market cap of $1.87 trillion, a price-to-earnings ratio of 65.66, a price-to-earnings-growth ratio of 0.67 and a beta of 1.41. Broadcom Inc. has a 52 week low of $244.17 and a 52 week high of $495.00. The company has a quick ratio of 2.01, a current ratio of 2.24 and a debt-to-equity ratio of 0.71. The firm has a 50 day moving average of $405.85 and a 200-day moving average of $363.29.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share (EPS) for the quarter, beating the consensus estimate 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 the consensus estimate of $22.13 billion. During the same quarter last year, the firm posted $1.58 EPS. Broadcom’s revenue was up 47.9% compared to the same quarter last year. On average, equities analysts forecast that Broadcom Inc. will post 10.24 earnings per share for the current year.

Broadcom Dividend Announcement

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

Wall Street Analyst Weigh In

Several research firms have issued reports on AVGO. Rosenblatt Securities restated a “buy” rating and set a $500.00 price target on shares of Broadcom in a report on Thursday, June 4th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $515.00 price target (up from $430.00) on shares of Broadcom in a report on Thursday, June 4th. Cantor Fitzgerald restated an “overweight” rating and set a $525.00 price target on shares of Broadcom in a report on Thursday, June 4th. TD Cowen restated a “buy” rating and set a $500.00 price target on shares of Broadcom in a report on Thursday, June 4th. Finally, Citigroup restated a “buy” rating 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 given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $490.13.

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.