Carmel Capital Management L.L.C. Trims Stake in Broadcom Inc. $AVGO

Carmel Capital Management L.L.C. decreased its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 1.0% during the first quarter, Holdings Channel.com reports. The firm owned 141,515 shares of the semiconductor manufacturer’s stock after selling 1,415 shares during the period. Broadcom accounts for about 12.5% of Carmel Capital Management L.L.C.’s portfolio, making the stock its largest position. Carmel Capital Management L.L.C.’s holdings in Broadcom were worth $43,800,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of AVGO. ROSS JOHNSON & Associates LLC raised its position in shares of Broadcom by 1,320.0% during 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 in the last quarter. Networth Advisors LLC grew its position in Broadcom by 546.2% in the first quarter. Networth Advisors LLC now owns 84 shares of the semiconductor manufacturer’s stock worth $26,000 after acquiring an additional 71 shares in the last quarter. SWAN Capital LLC grew its position in Broadcom by 261.9% in the fourth quarter. SWAN Capital LLC now owns 76 shares of the semiconductor manufacturer’s stock worth $26,000 after acquiring an additional 55 shares in the last quarter. Miller Global Investments LLC bought a new stake in Broadcom during the fourth quarter worth approximately $31,000. Finally, Nvest Wealth Strategies Inc. bought a new stake in Broadcom during the fourth quarter worth approximately $33,000. Institutional investors own 76.43% of the company’s stock.

Analyst Ratings Changes

AVGO has been the subject of several analyst reports. Evercore reaffirmed an “outperform” rating and issued a $582.00 price objective on shares of Broadcom in a research note on Tuesday, May 19th. UBS Group set a $485.00 target price on Broadcom and gave the company a “buy” rating in a research report on Thursday, June 4th. Rosenblatt Securities restated a “buy” rating and issued a $500.00 price target on shares of Broadcom in a research report on Thursday, June 4th. Oppenheimer reaffirmed an “outperform” rating and set a $535.00 price objective (up from $450.00) on shares of Broadcom in a research note on Thursday, June 4th. Finally, Weiss Ratings cut shares of Broadcom from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, June 26th. 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. According to MarketBeat.com, Broadcom currently has a consensus rating of “Moderate Buy” and a consensus price target of $493.24.

Broadcom Stock Performance

Shares of Broadcom stock opened at $360.45 on Friday. The stock’s fifty day moving average is $407.92 and its two-hundred day moving average is $362.33. The company has a market capitalization of $1.71 trillion, a PE ratio of 60.08, a price-to-earnings-growth ratio of 0.63 and a beta of 1.45. The company has a quick ratio of 2.01, a current ratio of 2.24 and a debt-to-equity ratio of 0.71. Broadcom Inc. has a 52 week low of $269.58 and a 52 week high of $495.00.

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

Broadcom Announces Dividend

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

Insider Activity at Broadcom

In related news, Director Justine Page sold 1,602 shares of Broadcom stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $373.86, for a total transaction of $598,923.72. Following the completion of the sale, the director owned 17,426 shares in the company, valued at $6,514,884.36. This trade represents a 8.42% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Gayla J. Delly sold 1,000 shares of the business’s stock in a transaction that occurred 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 $11,592,045.12. The trade was a 3.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 60,987 shares of company stock worth $21,899,980 over the last ninety days. 1.90% of the stock is currently owned by company insiders.

Key Stories Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: JPMorgan, UBS, Jefferies and other analysts remain constructive on Broadcom’s AI-driven growth, with price targets well above current levels and continued optimism around custom AI silicon demand, including exposure to customers such as OpenAI and Anthropic. UBS Reaffirms Buy Rating on Broadcom (AVGO) Amid AI ASIC Demand and OpenAI, Anthropic Growth
• Positive Sentiment: Articles highlighting Broadcom’s partnership with OpenAI on the “Jalapeño” AI accelerator reinforce the market’s bullish view that AI infrastructure can keep driving revenue growth. What Broadcom (AVGO)’s Jalapeño AI Accelerator Partnership With OpenAI Means For Shareholders
• Neutral Sentiment: Several recent write-ups argue Broadcom may be attractive after its pullback, but they mostly restate the same long-term thesis rather than pointing to a new catalyst. Why Broadcom Stock Slumped Today
• Neutral Sentiment: Investors continue to search for clues on whether Broadcom can rebound from its post-earnings decline, with coverage focusing on earnings estimates and fair-value changes. Broadcom (AVGO) Stock Gets Fair Value Boost As Analysts Split On AI Outlook
• Negative Sentiment: Director Justine Page sold 1,602 shares of Broadcom stock, extending insider-selling headlines that can weigh on sentiment even if the sale is relatively small versus the company’s size. SEC Form 4 filing for Justine Page sale
• Negative Sentiment: Broadcom remains about 14% below its last earnings report level, and recent commentary suggests investors are still uneasy about whether the company’s strong results were enough to justify its premium valuation. Broadcom Inc. (AVGO) Down 14% Since Last Earnings Report: Can It Rebound?

Broadcom 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.