Broadcom Inc. $AVGO Holdings Lifted by Xponance LLC

Xponance LLC grew its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 2.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,184,563 shares of the semiconductor manufacturer’s stock after buying an additional 30,343 shares during the period. Broadcom accounts for 3.1% of Xponance LLC’s investment portfolio, making the stock its 6th largest position. Xponance LLC’s holdings in Broadcom were worth $409,977,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in AVGO. Brighton Jones LLC raised its stake in shares of Broadcom by 21.8% during the 4th quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer’s stock valued at $6,882,000 after purchasing an additional 5,322 shares during the period. Revolve Wealth Partners LLC raised its stake in shares of Broadcom by 10.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 7,997 shares of the semiconductor manufacturer’s stock valued at $1,854,000 after purchasing an additional 756 shares during the period. United Bank raised its stake in shares of Broadcom by 76.5% during the 1st quarter. United Bank now owns 2,339 shares of the semiconductor manufacturer’s stock valued at $392,000 after purchasing an additional 1,014 shares during the period. Sivia Capital Partners LLC raised its stake in shares of Broadcom by 10.1% during the 2nd quarter. Sivia Capital Partners LLC now owns 12,693 shares of the semiconductor manufacturer’s stock valued at $3,499,000 after purchasing an additional 1,160 shares during the period. Finally, Capital & Planning LLC raised its stake in shares of Broadcom by 10.5% during the 2nd quarter. Capital & Planning LLC now owns 3,983 shares of the semiconductor manufacturer’s stock valued at $1,098,000 after purchasing an additional 378 shares during the period. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Broadcom News Summary

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Wall Street analysts remain bullish, with some raising Broadcom’s earnings estimates and lifting price targets even after the post-earnings selloff. As Shares Fall, Analyst Are Boosting their Broadcom Price Targets
• Positive Sentiment: Broadcom’s AI business remains a major strength, with reports highlighting record revenue growth, strong AI semiconductor demand, and a very large backlog of AI bookings. 3 Beaten-Down AI Chip Stocks Worth a Closer Look After the Sell-Off
• Neutral Sentiment: Broadcom announced cash tender offers to buy back certain outstanding debt securities, a move that may help optimize its balance sheet but is not likely to be a major near-term stock catalyst. Broadcom Inc. Commences Offers to Purchase for Cash Certain of its Outstanding Debt Securities
• Neutral Sentiment: Some commentary says Broadcom is still attractive on valuation after the selloff, while other analysis warns the stock may be entering a tougher phase where pricing power and margins matter more. Broadcom’s Real Test Begins When Pricing Power Meets Reality
• Negative Sentiment: Investors are worried Broadcom warned that gross profit margins may keep falling, reinforcing concerns that strong AI growth is coming with less operating leverage than hoped. Huge News for Broadcom Stock Investors

Broadcom Price Performance

Shares of Broadcom stock opened at $385.57 on Friday. 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 firm has a market capitalization of $1.83 trillion, a PE ratio of 64.26, a price-to-earnings-growth ratio of 0.65 and a beta of 1.41. The business’s 50-day moving average price is $402.89 and its 200-day moving average price is $363.19. Broadcom Inc. has a 12 month low of $244.17 and a 12 month high of $495.00.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 EPS for the quarter, beating the consensus estimate 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 company’s revenue was up 47.9% on a year-over-year basis. During the same period in the prior year, the company earned $1.58 EPS. Sell-side analysts forecast that Broadcom Inc. will post 10.24 EPS for the current fiscal year.

Broadcom Announces Dividend

The business 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 dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 0.7%. The ex-dividend date is Monday, June 22nd. Broadcom’s dividend payout ratio (DPR) is presently 43.33%.

Insider Buying and Selling

In related news, insider S. Ram Velaga sold 38,841 shares of the firm’s stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $321.60, for a total transaction of $12,491,265.60. Following the transaction, the insider directly owned 96,147 shares in the company, valued at $30,920,875.20. This trade represents a 28.77% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Charlie B. Kawwas sold 39,116 shares of the firm’s stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $321.61, for a total value of $12,580,096.76. Following the transaction, the insider owned 74,626 shares in the company, valued at approximately $24,000,467.86. The trade was a 34.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 324,282 shares of company stock valued at $106,425,249 in the last 90 days. 1.90% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

AVGO has been the topic of a number of analyst reports. Bank of America boosted their price objective on Broadcom from $450.00 to $530.00 and gave the company a “buy” rating in a research note on Thursday, June 4th. Evercore reiterated an “outperform” rating and set a $582.00 price objective on shares of Broadcom in a research note on Tuesday, May 19th. Benchmark boosted their price objective on Broadcom from $485.00 to $545.00 and gave the company a “buy” rating in a research note on Thursday, June 4th. UBS Group set a $485.00 price objective on Broadcom and gave the company a “buy” rating in a research note on Thursday, June 4th. Finally, Citigroup reiterated a “buy” rating on shares of Broadcom in a research note on Thursday, June 4th. One investment analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average 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.