Asset One Wealth Management LLC Buys New Holdings in Broadcom Inc. $AVGO

Asset One Wealth Management LLC acquired a new position in shares of Broadcom Inc. (NASDAQ:AVGO) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 14,574 shares of the semiconductor manufacturer’s stock, valued at approximately $4,826,000. Broadcom makes up about 0.7% of Asset One Wealth Management LLC’s investment portfolio, making the stock its 29th biggest position.

A number of other hedge funds and other institutional investors also recently modified their holdings of AVGO. Brighton Jones LLC lifted its stake in shares of Broadcom by 21.8% during the fourth quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer’s stock worth $6,882,000 after purchasing an additional 5,322 shares in the last quarter. Revolve Wealth Partners LLC lifted its stake in shares of Broadcom by 10.4% during the fourth quarter. Revolve Wealth Partners LLC now owns 7,997 shares of the semiconductor manufacturer’s stock worth $1,854,000 after purchasing an additional 756 shares in the last quarter. United Bank lifted its stake in shares of Broadcom by 76.5% during the first quarter. United Bank now owns 2,339 shares of the semiconductor manufacturer’s stock worth $392,000 after purchasing an additional 1,014 shares in the last quarter. Sivia Capital Partners LLC lifted its stake in shares of Broadcom by 10.1% during the second quarter. Sivia Capital Partners LLC now owns 12,693 shares of the semiconductor manufacturer’s stock worth $3,499,000 after purchasing an additional 1,160 shares in the last quarter. Finally, Capital & Planning LLC lifted its stake in shares of Broadcom by 10.5% during the second quarter. Capital & Planning LLC now owns 3,983 shares of the semiconductor manufacturer’s stock worth $1,098,000 after purchasing an additional 378 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Analyst Upgrades and Downgrades

AVGO has been the topic of a number of recent research reports. Seaport Research Partners restated a “neutral” rating on shares of Broadcom in a research note on Wednesday, April 8th. UBS Group set a $485.00 price objective on Broadcom and gave the stock a “buy” rating in a research note on Thursday, June 4th. Truist Financial boosted their price objective on Broadcom from $545.00 to $550.00 and gave the stock a “buy” rating in a research note on Thursday, June 4th. Susquehanna restated a “positive” rating and set a $490.00 price objective (up from $450.00) on shares of Broadcom in a research note on Thursday, May 28th. Finally, Mizuho boosted their price objective on Broadcom from $480.00 to $530.00 and gave the stock an “outperform” rating in a research note on Thursday, June 4th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $490.13.

Key Broadcom News

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: JPMorgan reiterated a bullish stance on Broadcom, saying the market may be underestimating its long-term AI opportunity and calling the shares attractive at current levels. Barrons article
• Positive Sentiment: Other coverage highlighted Broadcom’s “massive AI pipeline” and the company’s growing role in AI infrastructure, reinforcing expectations for multi-year revenue growth. Benzinga article
• Positive Sentiment: Broadcom announced pricing terms for cash tender offers to repurchase portions of its outstanding debt, a move that can support balance-sheet management and financial flexibility. PR Newswire article
• Neutral Sentiment: Commentary on Broadcom’s latest quarter noted strong AI-chip demand and revenue growth, but also pointed to gross margin pressure and cautious guidance, which may be keeping some investors from getting more aggressive. Zacks article
• Negative Sentiment: Some broader AI-stock commentary has compared today’s AI capex boom to the dot-com era, renewing valuation and cycle-risk concerns across the sector that could weigh on sentiment for AVGO. 247WallSt article

Insider Transactions at Broadcom

In other news, Director Justine Page sold 2,018 shares of the company’s stock in a transaction that occurred on Wednesday, April 8th. The stock was sold at an average price of $353.00, for a total transaction of $712,354.00. Following the completion of the transaction, the director directly owned 18,164 shares of the company’s stock, valued at approximately $6,411,892. This represents a 10.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider S. Ram Velaga sold 8,000 shares of the company’s stock in a transaction that occurred on Friday, April 10th. The shares were sold at an average price of $370.52, for a total value of $2,964,160.00. Following the transaction, the insider directly owned 57,932 shares of the company’s stock, valued at $21,464,964.64. This trade represents a 12.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 51,233 shares of company stock valued at $18,125,134 over the last 90 days. Corporate insiders own 1.90% of the company’s stock.

Broadcom Stock Up 4.3%

Shares of Broadcom stock opened at $392.90 on Thursday. 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 market cap of $1.87 trillion, a P/E ratio of 65.48, a P/E/G ratio of 0.66 and a beta of 1.41. Broadcom Inc. has a fifty-two week low of $244.17 and a fifty-two week high of $495.00. The business has a 50-day moving average price of $408.66 and a 200 day moving average price of $363.11.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share for the quarter, beating the consensus estimate of $2.40 by $0.04. The firm had revenue of $22.19 billion during 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%.Broadcom’s quarterly revenue was up 47.9% on a year-over-year basis. During the same period in the previous year, the company earned $1.58 earnings per share. On average, sell-side analysts forecast that Broadcom Inc. will post 10.24 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 22nd will be issued a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Monday, June 22nd. Broadcom’s payout ratio is currently 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.