Broadcom Inc. $AVGO Shares Sold by Castle Hook Partners LP

Castle Hook Partners LP cut its position in Broadcom Inc. (NASDAQ:AVGO) by 66.8% in the fourth quarter, Holdings Channel reports. The firm owned 4,364 shares of the semiconductor manufacturer’s stock after selling 8,783 shares during the period. Castle Hook Partners LP’s holdings in Broadcom were worth $1,510,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in AVGO. ROSS JOHNSON & Associates LLC boosted its position in shares of 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 purchasing an additional 66 shares during the period. SWAN Capital LLC boosted its position in shares of Broadcom by 261.9% in the 4th quarter. SWAN Capital LLC now owns 76 shares of the semiconductor manufacturer’s stock valued at $26,000 after purchasing an additional 55 shares during the period. Miller Global Investments LLC acquired a new stake in shares of Broadcom in the 4th quarter valued at about $31,000. Nvest Wealth Strategies Inc. acquired a new stake in shares of Broadcom in the 4th quarter valued at about $33,000. Finally, Family CFO Inc acquired a new stake in shares of Broadcom in the 4th quarter valued at about $35,000. 76.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AVGO has been the subject of a number of research analyst reports. Seaport Research Partners reissued a “neutral” rating on shares of Broadcom in a research report on Wednesday, April 8th. Zacks Research cut Broadcom from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 21st. 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. Citigroup reaffirmed a “buy” rating on shares of Broadcom in a research report on Thursday, June 4th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $535.00 price objective (up from $450.00) on shares of Broadcom in a research report on Thursday, June 4th. One analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $490.13.

Key Stories Impacting Broadcom

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 Buying and Selling at Broadcom

In other Broadcom news, Director Harry L. You bought 1,000 shares of the business’s stock in a transaction dated 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 purchase, the director owned 38,466 shares in the company, valued at approximately $14,369,743.62. This represents a 2.67% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Justine Page sold 2,018 shares of the stock in a transaction that occurred on Wednesday, April 8th. The stock was sold at an average price of $353.00, for a total value of $712,354.00. Following the transaction, the director directly owned 18,164 shares of the company’s stock, valued at approximately $6,411,892. This trade represents a 10.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 51,233 shares of company stock worth $18,125,134. 1.90% of the stock is currently owned by company insiders.

Broadcom Stock Up 4.3%

Broadcom stock opened at $392.90 on Thursday. Broadcom Inc. has a twelve month low of $244.17 and a twelve month high of $495.00. The stock has a 50 day moving average of $408.66 and a two-hundred day moving average of $363.11. 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 stock has a market capitalization of $1.87 trillion, a price-to-earnings ratio of 65.48, a PEG ratio of 0.66 and a beta of 1.41.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share for the quarter, topping analysts’ consensus estimates of $2.40 by $0.04. The company had revenue of $22.19 billion during the quarter, compared to analysts’ expectations of $22.13 billion. Broadcom had a return on equity of 41.61% and a net margin of 38.85%.The firm’s revenue for the quarter was up 47.9% on a year-over-year basis. During the same period last year, the firm earned $1.58 EPS. As a group, research analysts expect that Broadcom Inc. will post 10.24 earnings per share for the current year.

Broadcom Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 22nd will be paid a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Monday, June 22nd. Broadcom’s dividend payout ratio is 43.33%.

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.