Eagle Wealth Advisors LLC Has $3.75 Million Position in Broadcom Inc. $AVGO

Eagle Wealth Advisors LLC lessened its holdings in Broadcom Inc. (NASDAQ:AVGO) by 14.3% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 12,116 shares of the semiconductor manufacturer’s stock after selling 2,029 shares during the period. Broadcom comprises 3.5% of Eagle Wealth Advisors LLC’s holdings, making the stock its 7th biggest position. Eagle Wealth Advisors LLC’s holdings in Broadcom were worth $3,750,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Sawyer & Company Inc increased its holdings in Broadcom by 9,387.5% during the first quarter. Sawyer & Company Inc now owns 8,349 shares of the semiconductor manufacturer’s stock valued at $2,584,000 after buying an additional 8,261 shares during the period. KOM Wealth Management Group LLC lifted its holdings in Broadcom by 5.6% during the first quarter. KOM Wealth Management Group LLC now owns 1,522 shares of the semiconductor manufacturer’s stock worth $471,000 after buying an additional 81 shares during the period. Kohmann Bosshard Financial Services LLC lifted its holdings in Broadcom by 2.2% during the first quarter. Kohmann Bosshard Financial Services LLC now owns 3,648 shares of the semiconductor manufacturer’s stock worth $1,129,000 after buying an additional 79 shares during the period. Financial & Tax Architects LLC boosted its position in Broadcom by 5.6% during the 1st quarter. Financial & Tax Architects LLC now owns 6,925 shares of the semiconductor manufacturer’s stock valued at $2,143,000 after acquiring an additional 366 shares in the last quarter. Finally, Daviman Financial LLC boosted its position in Broadcom by 33.9% during the 1st quarter. Daviman Financial LLC now owns 1,978 shares of the semiconductor manufacturer’s stock valued at $612,000 after acquiring an additional 501 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. JPMorgan Chase & Co. boosted their price target on Broadcom from $500.00 to $580.00 and gave the stock an “overweight” rating in a research report on Thursday, June 4th. Jefferies Financial Group set a $550.00 price objective on Broadcom and gave the company a “buy” rating in a research report on Thursday, June 4th. Zacks Research lowered Broadcom from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 21st. TD Cowen reiterated a “buy” rating and issued a $500.00 target price on shares of Broadcom in a report on Thursday, June 4th. Finally, Truist Financial increased their price target on shares of Broadcom from $545.00 to $550.00 and gave the company a “buy” rating 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 issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $493.24.

Broadcom Stock Performance

Shares of AVGO stock opened at $360.45 on Friday. Broadcom Inc. has a 12-month low of $269.58 and a 12-month high of $495.00. The business’s fifty day simple moving average is $407.92 and its 200-day simple moving average is $362.33. 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 company has a market cap of $1.71 trillion, a PE ratio of 60.08, a PEG ratio of 0.63 and a beta of 1.45.

Broadcom (NASDAQ:AVGO) last announced its earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.40 by $0.04. Broadcom had a return on equity of 41.61% and a net margin of 38.85%.The company had revenue of $22.19 billion for the quarter, compared to analyst estimates of $22.13 billion. During the same period in the prior year, the company posted $1.58 EPS. The firm’s quarterly revenue was up 47.9% compared to the same quarter last year. Analysts expect 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 was paid on Tuesday, June 30th. Shareholders of record on Monday, June 22nd were given a dividend of $0.65 per share. 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 payout ratio is currently 43.33%.

Key Headlines 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?

Insider Buying and Selling at Broadcom

In related news, Director Harry L. You purchased 1,000 shares of the business’s stock in a transaction on Thursday, June 11th. The shares were bought at an average cost of $373.57 per share, with a total value of $373,570.00. Following the transaction, the director owned 38,466 shares of the company’s stock, valued at approximately $14,369,743.62. This trade represents a 2.67% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Charlie B. Kawwas sold 10,000 shares of Broadcom stock in a transaction dated Wednesday, April 8th. The shares were sold at an average price of $345.23, for a total value of $3,452,300.00. Following the transaction, the insider owned 787,184 shares of the company’s stock, valued at $271,759,532.32. The trade was a 1.25% 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 in the last three months. 1.90% of the stock is owned by company insiders.

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.