Valley Wealth Managers Inc. Trims Position in Broadcom Inc. $AVGO

Valley Wealth Managers Inc. reduced its stake in Broadcom Inc. (NASDAQ:AVGO) by 15.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 115,022 shares of the semiconductor manufacturer’s stock after selling 21,408 shares during the period. Broadcom comprises 2.3% of Valley Wealth Managers Inc.’s investment portfolio, making the stock its 4th largest position. Valley Wealth Managers Inc.’s holdings in Broadcom were worth $35,601,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of AVGO. ROSS JOHNSON & Associates LLC increased its stake in shares of Broadcom by 1,320.0% in the fourth quarter. ROSS JOHNSON & Associates LLC now owns 71 shares of the semiconductor manufacturer’s stock worth $25,000 after buying an additional 66 shares during the period. Networth Advisors LLC raised its holdings in Broadcom by 546.2% during the 1st quarter. Networth Advisors LLC now owns 84 shares of the semiconductor manufacturer’s stock valued at $26,000 after buying an additional 71 shares during the last quarter. SWAN Capital LLC boosted its position in Broadcom by 261.9% during the 4th quarter. SWAN Capital LLC now owns 76 shares of the semiconductor manufacturer’s stock valued at $26,000 after buying an additional 55 shares during the period. Nvest Wealth Strategies Inc. purchased a new stake in Broadcom during the 4th quarter valued at $33,000. Finally, Family CFO Inc bought a new stake in Broadcom in the 4th quarter worth $35,000. Institutional investors own 76.43% of the company’s stock.

Broadcom Stock Up 2.2%

Shares of NASDAQ AVGO opened at $386.50 on Wednesday. The company has a current ratio of 2.24, a quick ratio of 2.01 and a debt-to-equity ratio of 0.71. Broadcom Inc. has a 12 month low of $273.00 and a 12 month high of $495.00. The firm has a market capitalization of $1.84 trillion, a PE ratio of 64.42, a price-to-earnings-growth ratio of 0.66 and a beta of 1.45. The firm has a fifty day simple moving average of $399.63 and a two-hundred day simple moving average of $365.90.

Broadcom (NASDAQ:AVGO) last announced its earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share 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 firm had revenue of $22.19 billion for the quarter, compared to analyst estimates of $22.13 billion. During the same quarter in the previous year, the firm posted $1.58 EPS. The company’s revenue for the quarter was up 47.9% compared to the same quarter last year. Equities analysts expect that Broadcom Inc. will post 10.24 earnings per share for the current year.

Broadcom Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders 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 43.33%.

Analyst Upgrades and Downgrades

AVGO has been the topic of a number of analyst reports. TD Cowen restated a “buy” rating and issued a $500.00 price objective on shares of Broadcom in a research report on Thursday, June 4th. Deutsche Bank Aktiengesellschaft reiterated 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. Jefferies Financial Group set a $550.00 target price on Broadcom and gave the stock a “buy” rating in a research note on Thursday, June 4th. Zacks Research downgraded Broadcom from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 21st. Finally, Truist Financial upped their price target on Broadcom from $545.00 to $550.00 and gave the company a “buy” rating in a research report on Thursday, June 4th. One investment analyst has rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, Broadcom currently has an average rating of “Moderate Buy” and a consensus price target of $493.24.

Key Headlines Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: UBS said the recent momentum unwind in semiconductors may be nearing its end, which could allow investors to rebuild positions in names like Broadcom as forced selling eases. UBS sees Broadcom, Sandisk, Oracle stocks rebounding: here’s why
• Positive Sentiment: Analysts highlighted Broadcom’s VMware Cloud Foundation momentum, saying the software platform is becoming a larger growth engine as enterprises move private clouds and AI workloads to virtualized environments. VCF is Becoming Broadcom’s Growth Engine: More Upside Ahead?
• Positive Sentiment: Broadcom benefited from a broader semiconductor rebound, with chip stocks rising as investors bought the dip after the recent selloff and AI-related volatility. 5 Things to Know Before the Stock Market Opens on Tuesday
• Positive Sentiment: Morgan Stanley continued to frame Broadcom as one of the more attractive AI infrastructure names, citing strong cash generation and favorable risk-reward after the sector pullback. Broadcom stock gains 2% today: here’s why
• Neutral Sentiment: Broadcom also got a boost from a new Standard Chartered deal to power banking cloud modernization across 54 markets, reinforcing the value of its VMware-based infrastructure software. Broadcom (AVGO) Lands Standard Chartered Deal To Power Banking Cloud In 54 Markets
• Negative Sentiment: Sentiment remains somewhat pressured by an ITC investigation tied to Netlist’s patent complaint, which pulled Broadcom into broader regulatory noise around Samsung memory products and customers. Is Broadcom (AVGO) Still Undervalued As Netlist Patent Claims Test Sentiment?
• Negative Sentiment: Some headlines also noted that an AI-focused trading model sold Broadcom after its expected return profile weakened, reflecting lingering caution after the recent tech selloff. Claude AI Sells Broadcom (AVGO) Stock

Insider Transactions at Broadcom

In other Broadcom news, Director Justine Page sold 1,602 shares of the company’s stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $373.86, for a total transaction of $598,923.72. Following the transaction, the director owned 17,426 shares in the company, valued at approximately $6,514,884.36. This represents a 8.42% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gayla J. Delly sold 1,890 shares of the 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 completion of the transaction, 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. In the last 90 days, insiders sold 61,644 shares of company stock valued at $24,016,214. Insiders own 1.90% of the company’s stock.

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.