Broadcom Inc. $AVGO Shares Sold by Lord Abbett & CO. LLC

Lord Abbett & CO. LLC lowered its position in Broadcom Inc. (NASDAQ:AVGO) by 9.4% in the fourth quarter, HoldingsChannel reports. The fund owned 1,948,433 shares of the semiconductor manufacturer’s stock after selling 203,110 shares during the quarter. Broadcom accounts for about 2.1% of Lord Abbett & CO. LLC’s portfolio, making the stock its 4th largest position. Lord Abbett & CO. LLC’s holdings in Broadcom were worth $674,353,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. ROSS JOHNSON & Associates LLC raised its position 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 acquiring an additional 66 shares during the period. SWAN Capital LLC raised its position in shares of 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 during the period. Miller Global Investments LLC acquired a new position in shares of Broadcom in the fourth quarter worth about $31,000. Nvest Wealth Strategies Inc. acquired a new position in shares of Broadcom in the fourth quarter worth about $33,000. Finally, Family CFO Inc acquired a new position in shares of Broadcom in the fourth quarter worth about $35,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insider Buying and Selling at Broadcom

In related news, insider Mark David Brazeal sold 50,488 shares of the company’s stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $321.60, for a total transaction of $16,236,940.80. Following the completion of the sale, the insider owned 278,141 shares of the company’s stock, valued at approximately $89,450,145.60. This represents a 15.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Charlie B. Kawwas sold 10,000 shares of the company’s stock in a transaction dated Wednesday, April 8th. The shares were sold at an average price of $345.23, for a total transaction of $3,452,300.00. Following the sale, the insider directly owned 787,184 shares of the company’s stock, valued at approximately $271,759,532.32. This represents a 1.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 324,282 shares of company stock valued at $106,425,249. Corporate insiders own 1.90% of the company’s stock.

Wall Street Analyst Weigh In

AVGO has been the subject of a number of analyst reports. Bank of America upped their price objective on shares of Broadcom from $450.00 to $530.00 and gave the stock a “buy” rating in a research report on Thursday, June 4th. Zacks Research downgraded shares of Broadcom from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 21st. Mizuho upped their price objective on shares of Broadcom from $480.00 to $530.00 and gave the stock an “outperform” rating in a research report on Thursday, June 4th. KeyCorp reiterated an “overweight” rating and issued a $575.00 price objective (up from $500.00) on shares of Broadcom in a research report on Thursday, June 4th. Finally, Erste Group Bank raised shares of Broadcom from a “hold” rating to a “buy” rating in a research note on Friday, June 5th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $490.13.

Broadcom Stock Down 0.9%

AVGO stock opened at $382.07 on Friday. The stock has a market capitalization of $1.82 trillion, a P/E ratio of 63.68, a P/E/G ratio of 0.68 and a beta of 1.41. The firm has a 50-day simple moving average of $404.26 and a 200-day simple moving average of $363.33. 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 $244.17 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 EPS for the quarter, topping analysts’ consensus estimates of $2.40 by $0.04. The business had revenue of $22.19 billion during the quarter, compared to analysts’ expectations of $22.13 billion. Broadcom had a net margin of 38.85% and a return on equity of 41.61%. The company’s quarterly revenue was up 47.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.58 earnings per share. Equities analysts forecast that Broadcom Inc. will post 10.24 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The business 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. The ex-dividend date of this dividend is Monday, June 22nd. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.7%. Broadcom’s payout ratio is currently 43.33%.

Trending Headlines about Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom’s quarterly results were very strong, with revenue up 48% to a record $22.2 billion, semiconductor revenue up 79%, AI semiconductor revenue up 143% to $10.8 billion, and more than $30 billion in AI bookings, suggesting demand remains robust. Article Title
• Positive Sentiment: Several analysts and commentators argue the recent drop could be a buying opportunity, saying Broadcom remains a core infrastructure winner in AI and that Wall Street’s long-term outlook is still constructive. Article Title
• Positive Sentiment: Fresh coverage highlighted Broadcom as one of the stocks with catalysts heading into the second half of the year, and some analysts have raised earnings forecasts and price targets despite the selloff. Article Title
• Neutral Sentiment: Jim Cramer said Broadcom’s earnings were “not good” and suggested tech stocks are harder to trust as leadership names, reflecting a more cautious market mood around the stock. Article Title
• Neutral Sentiment: Broadcom also announced cash tender offers for certain outstanding debt securities, a routine balance-sheet move that is unlikely to move the stock by itself. Article Title
• Negative Sentiment: Market commentary says the stock is being punished because investors are nitpicking Broadcom’s AI outlook and pricing the shares as if growth must keep accelerating without any hiccups. Article Title
• Negative Sentiment: One note warned that Broadcom told investors to expect gross profit margins to continue falling, reinforcing concerns that profitability may soften even as revenue grows. Article Title

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.