Xponance LLC Boosts Position in Broadcom Inc. $AVGO

Xponance LLC increased its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 2.6% during the 4th quarter, Holdings Channel.com reports. The fund owned 1,184,563 shares of the semiconductor manufacturer’s stock after purchasing an additional 30,343 shares during the quarter. Broadcom accounts for approximately 3.1% of Xponance LLC’s portfolio, making the stock its 6th largest position. Xponance LLC’s holdings in Broadcom were worth $409,977,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Brown Brothers Harriman & Co. lifted its holdings in Broadcom by 10.7% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 77,411 shares of the semiconductor manufacturer’s stock worth $25,539,000 after buying an additional 7,499 shares during the period. Dana Investment Advisors Inc. lifted its holdings in Broadcom by 2.6% in the 3rd quarter. Dana Investment Advisors Inc. now owns 173,759 shares of the semiconductor manufacturer’s stock worth $57,325,000 after buying an additional 4,442 shares during the period. Sovran Advisors LLC lifted its holdings in Broadcom by 121.3% in the 4th quarter. Sovran Advisors LLC now owns 30,631 shares of the semiconductor manufacturer’s stock worth $10,507,000 after buying an additional 16,789 shares during the period. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in Broadcom by 406.1% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 11,994 shares of the semiconductor manufacturer’s stock worth $4,151,000 after buying an additional 9,624 shares during the period. Finally, Siligmueller & Norvid Wealth Advisors LLC purchased a new stake in Broadcom in the 3rd quarter worth approximately $762,000. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Kirsten M. Spears sold 36,292 shares of the business’s stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $321.60, for a total value of $11,671,507.20. Following the completion of the transaction, the chief financial officer owned 327,760 shares in the company, valued at $105,407,616. The trade was a 9.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Mark David Brazeal sold 50,488 shares of the business’s stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $321.60, for a total value of $16,236,940.80. Following the completion of the transaction, the insider owned 278,141 shares of the company’s stock, valued at $89,450,145.60. This represents a 15.36% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 324,282 shares of company stock worth $106,425,249 over the last three months. Company insiders own 1.90% of the company’s stock.

Broadcom News Roundup

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

Broadcom Stock Up 3.6%

Shares of NASDAQ:AVGO opened at $385.57 on Friday. The stock has a fifty day simple moving average of $402.89 and a two-hundred day simple moving average of $363.19. The stock has a market capitalization of $1.83 trillion, a price-to-earnings ratio of 64.26, a PEG ratio of 0.65 and a beta of 1.41. Broadcom Inc. has a 12-month low of $244.17 and a 12-month high of $495.00. The company has a current ratio of 2.24, a quick ratio of 2.01 and a debt-to-equity ratio of 0.71.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share (EPS) 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 firm’s quarterly revenue was up 47.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.58 earnings per share. On average, research analysts anticipate that Broadcom Inc. will post 10.24 earnings per share for the current fiscal year.

Broadcom Announces Dividend

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

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on AVGO shares. Wells Fargo & Company reiterated an “overweight” rating and issued a $545.00 price objective (up from $430.00) on shares of Broadcom in a report on Thursday, May 14th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $515.00 price target (up from $430.00) on shares of Broadcom in a research report on Thursday, June 4th. TD Cowen restated a “buy” rating and set a $500.00 price target on shares of Broadcom in a research report on Thursday, June 4th. Mizuho lifted their price target on Broadcom from $480.00 to $530.00 and gave the company an “outperform” rating in a research report on Thursday, June 4th. Finally, The Goldman Sachs Group restated a “buy” rating and set a $525.00 price target on shares of Broadcom in a research report on Thursday, June 4th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, Broadcom currently has an average rating of “Moderate Buy” and a consensus price target of $490.13.

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.