Jacobs Equity LLC Buys Shares of 1,335 Broadcom Inc. $AVGO

Jacobs Equity LLC purchased a new position in shares of Broadcom Inc. (NASDAQ:AVGO) during the fourth quarter, Holdings Channel.com reports. The fund purchased 1,335 shares of the semiconductor manufacturer’s stock, valued at approximately $462,000.

A number of other institutional investors also recently made changes to their positions in the stock. Brighton Jones LLC raised its stake in shares of Broadcom by 21.8% in the 4th quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer’s stock worth $6,882,000 after buying an additional 5,322 shares in the last quarter. Revolve Wealth Partners LLC boosted its stake in Broadcom by 10.4% during the fourth quarter. Revolve Wealth Partners LLC now owns 7,997 shares of the semiconductor manufacturer’s stock valued at $1,854,000 after buying an additional 756 shares in the last quarter. United Bank grew its holdings in Broadcom by 76.5% during the first quarter. United Bank now owns 2,339 shares of the semiconductor manufacturer’s stock worth $392,000 after acquiring an additional 1,014 shares during the period. Sivia Capital Partners LLC grew its holdings in Broadcom by 10.1% during the second quarter. Sivia Capital Partners LLC now owns 12,693 shares of the semiconductor manufacturer’s stock worth $3,499,000 after acquiring an additional 1,160 shares during the period. Finally, Capital & Planning LLC raised its position in Broadcom by 10.5% in the second quarter. Capital & Planning LLC now owns 3,983 shares of the semiconductor manufacturer’s stock worth $1,098,000 after acquiring an additional 378 shares in the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

More Broadcom News

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom expanded its cash tender offers for outstanding debt to $3 billion from $2.5 billion after strong investor demand, which can be viewed as a sign of balance-sheet management and helped lift sentiment toward the stock. Broadcom Inc. Announces Results and Upsize of Offers to Purchase for Cash Certain of its Outstanding Debt Securities
• Positive Sentiment: JPMorgan reiterated a bullish view, saying investors should be “aggressive buyers” and arguing the market is underestimating Broadcom’s long-term AI opportunity, reinforcing the rally in AVGO. AVGO stock jumps — JPMorgan says investors should be ‘aggressive buyers’ of Broadcom at current levels
• Positive Sentiment: Citi also highlighted Broadcom as a top chip stock on soaring data-center demand, adding to optimism around AI-driven revenue growth. Citi Touts Broadcom Inc. (AVGO) as a Top Chip Stock on Soaring Data Center Demand
• Neutral Sentiment: Insider Mark David Brazeal sold shares in two June transactions totaling more than 8,100 shares. The sales are notable, but they represent relatively small reductions in a large personal holding and do not necessarily signal a change in the company’s outlook. Mark David Brazeal insider trading page

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Bank of America upped their price target on shares of Broadcom from $450.00 to $530.00 and gave the company a “buy” rating in a report on Thursday, June 4th. Royal Bank Of Canada lifted their price objective on shares of Broadcom from $360.00 to $400.00 and gave the stock a “sector perform” rating in a research note on Thursday, June 4th. JPMorgan Chase & Co. boosted their target price on shares of Broadcom from $500.00 to $580.00 and gave the stock an “overweight” rating in a report on Thursday, June 4th. Benchmark increased their target price on shares of Broadcom from $485.00 to $545.00 and gave the company a “buy” rating in a research note on Thursday, June 4th. Finally, The Goldman Sachs Group restated a “buy” rating and set a $525.00 target price on shares of Broadcom in a report on Thursday, June 4th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $490.13.

Insiders Place Their Bets

In other news, insider Mark David Brazeal sold 4,825 shares of Broadcom stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $394.91, for a total value of $1,905,440.75. Following the transaction, the insider directly owned 269,989 shares of the company’s stock, valued at $106,621,355.99. This trade represents a 1.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Justine Page sold 2,018 shares of the business’s stock in a transaction that occurred on Wednesday, April 8th. The shares were 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 in the company, valued at $6,411,892. This represents a 10.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 59,385 shares of company stock valued at $21,301,057 over the last 90 days. 1.90% of the stock is owned by corporate insiders.

Broadcom Trading Up 4.7%

NASDAQ:AVGO opened at $411.35 on Friday. 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 1-year low of $244.17 and a 1-year high of $495.00. The firm has a market capitalization of $1.96 trillion, a price-to-earnings ratio of 68.56, a price-to-earnings-growth ratio of 0.69 and a beta of 1.41. The stock has a fifty day simple moving average of $410.21 and a 200 day simple moving average of $363.17.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share for the quarter, topping analysts’ consensus estimates of $2.40 by $0.04. The firm had revenue of $22.19 billion for 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%.Broadcom’s revenue was up 47.9% on a year-over-year basis. During the same quarter last year, the business posted $1.58 EPS. Sell-side analysts forecast that Broadcom Inc. will post 10.24 earnings per share for the current year.

Broadcom Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders 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 0.6%. The ex-dividend date is Monday, June 22nd. Broadcom’s dividend payout ratio (DPR) is presently 43.33%.

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.