Professional Financial Solutions LLC ADV Takes $2.98 Million Position in Broadcom Inc. $AVGO

Professional Financial Solutions LLC ADV acquired a new position in shares of Broadcom Inc. (NASDAQ:AVGO) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 8,603 shares of the semiconductor manufacturer’s stock, valued at approximately $2,977,000. Broadcom accounts for about 2.8% of Professional Financial Solutions LLC ADV’s portfolio, making the stock its 10th largest holding.

Several other institutional investors have also made changes to their positions in the business. ROSS JOHNSON & Associates LLC lifted its stake in Broadcom by 1,320.0% during the fourth quarter. ROSS JOHNSON & Associates LLC now owns 71 shares of the semiconductor manufacturer’s stock worth $25,000 after purchasing an additional 66 shares during the period. SWAN Capital LLC grew its stake in shares of Broadcom by 261.9% in the 4th quarter. SWAN Capital LLC now owns 76 shares of the semiconductor manufacturer’s stock valued at $26,000 after purchasing an additional 55 shares during the period. Miller Global Investments LLC bought a new stake in shares of Broadcom in the 4th quarter valued at approximately $31,000. Nvest Wealth Strategies Inc. acquired a new position in shares of Broadcom in the 4th quarter worth approximately $33,000. Finally, Family CFO Inc bought a new position in shares of Broadcom during the 4th quarter worth approximately $35,000. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Broadcom News Roundup

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

Insider Activity

In other news, insider Mark David Brazeal sold 4,825 shares of the company’s stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $394.91, for a total transaction of $1,905,440.75. Following the transaction, the insider directly owned 269,989 shares in the company, valued at approximately $106,621,355.99. This represents a 1.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gayla J. Delly sold 1,000 shares of the stock in a transaction that occurred on Thursday, April 9th. The shares were sold at an average price of $358.31, for a total transaction of $358,310.00. Following the sale, the director directly owned 32,352 shares in the company, valued at $11,592,045.12. This trade represents a 3.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 59,385 shares of company stock worth $21,301,057. 1.90% of the stock is currently owned by insiders.

Broadcom Trading Up 4.7%

AVGO stock opened at $411.35 on Friday. The business has a fifty day moving average price of $410.21 and a 200 day moving average price of $363.17. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.24 and a quick ratio of 2.01. Broadcom Inc. has a fifty-two week low of $244.17 and a fifty-two week high of $495.00. The stock has a market capitalization of $1.96 trillion, a price-to-earnings ratio of 68.56, a P/E/G ratio of 0.69 and a beta of 1.41.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data 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 company had revenue of $22.19 billion for the quarter, compared to analyst estimates of $22.13 billion. Broadcom had a return on equity of 41.61% and a net margin of 38.85%.The business’s revenue was up 47.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.58 earnings per share. Analysts expect that Broadcom Inc. will post 10.24 EPS for the current fiscal year.

Broadcom Dividend Announcement

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 issued 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 yield of 0.6%. Broadcom’s dividend payout ratio is currently 43.33%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on AVGO shares. Evercore reaffirmed an “outperform” rating and issued a $582.00 price target on shares of Broadcom in a research note on Tuesday, May 19th. Citigroup reissued a “buy” rating on shares of Broadcom in a report on Thursday, June 4th. Erste Group Bank upgraded shares of Broadcom from a “hold” rating to a “buy” rating in a research note on Friday, June 5th. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $545.00 target price (up from $430.00) on shares of Broadcom in a report on Thursday, May 14th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $525.00 target price on shares of Broadcom 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. According to MarketBeat, Broadcom currently has a consensus rating of “Moderate Buy” and an average price target of $490.13.

Broadcom Company 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.