Broadcom Inc. $AVGO Shares Sold by Vaughan David Investments LLC IL

Vaughan David Investments LLC IL decreased its holdings in Broadcom Inc. (NASDAQ:AVGO) by 8.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 417,061 shares of the semiconductor manufacturer’s stock after selling 36,963 shares during the quarter. Broadcom comprises about 3.1% of Vaughan David Investments LLC IL’s portfolio, making the stock its biggest position. Vaughan David Investments LLC IL’s holdings in Broadcom were worth $144,345,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of AVGO. Norges Bank purchased a new position in shares of Broadcom during the 4th quarter valued at about $24,252,196,000. Arrowstreet Capital Limited Partnership boosted its holdings in Broadcom by 499.4% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 5,634,232 shares of the semiconductor manufacturer’s stock worth $1,858,789,000 after buying an additional 4,694,313 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Broadcom by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 482,707,302 shares of the semiconductor manufacturer’s stock worth $167,064,997,000 after buying an additional 3,919,715 shares during the last quarter. Nordea Investment Management AB boosted its holdings in Broadcom by 47.5% in the 4th quarter. Nordea Investment Management AB now owns 9,814,757 shares of the semiconductor manufacturer’s stock worth $3,406,211,000 after buying an additional 3,160,586 shares during the last quarter. Finally, Danske Bank A S acquired a new stake in Broadcom in the 3rd quarter worth about $987,488,000. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Broadcom Stock Up 3.6%

AVGO stock opened at $385.57 on Friday. Broadcom Inc. has a one year low of $244.17 and a one year high of $495.00. The firm’s 50 day moving average price is $402.89 and its 200-day moving average price is $363.19. The firm has a market cap of $1.83 trillion, a PE ratio of 64.26, a PEG ratio of 0.65 and a beta of 1.41. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.01 and a current ratio of 2.24.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share for the quarter, beating 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 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 previous year, the firm posted $1.58 earnings per share. On average, equities research analysts anticipate that Broadcom Inc. will post 10.24 EPS for the current 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 dividend yield of 0.7%. The ex-dividend date is Monday, June 22nd. Broadcom’s payout ratio is currently 43.33%.

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

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Citigroup restated a “buy” rating on shares of Broadcom in a report on Thursday, June 4th. Wall Street Zen upgraded Broadcom from a “hold” rating to a “buy” rating in a report on Sunday, June 7th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $515.00 target price (up from $430.00) on shares of Broadcom in a report on Thursday, June 4th. Weiss Ratings upgraded Broadcom from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday. Finally, Susquehanna restated a “positive” rating and set a $490.00 target price (up from $450.00) on shares of Broadcom in a report on Thursday, May 28th. One research 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 stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $490.13.

Insider Transactions at Broadcom

In other news, Director Justine Page sold 2,018 shares of the company’s stock in a transaction 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 sale, the director 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gayla J. Delly sold 1,000 shares of the company’s stock in a transaction on Thursday, April 9th. The stock was sold at an average price of $358.31, for a total value of $358,310.00. Following the sale, the director directly owned 32,352 shares in the company, valued at $11,592,045.12. This represents a 3.00% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 324,282 shares of company stock worth $106,425,249. 1.90% of the stock is owned by corporate insiders.

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.