Rare Wolf Capital LLC Acquires New Position in Broadcom Inc. $AVGO

Rare Wolf Capital LLC acquired a new stake in shares of Broadcom Inc. (NASDAQ:AVGO) in the fourth quarter, HoldingsChannel.com reports. The firm acquired 1,520 shares of the semiconductor manufacturer’s stock, valued at approximately $526,000.

Several other large investors have also bought and sold shares of the company. Brown Brothers Harriman & Co. raised its stake in shares of Broadcom by 10.7% in the third quarter. Brown Brothers Harriman & Co. now owns 77,411 shares of the semiconductor manufacturer’s stock worth $25,539,000 after purchasing an additional 7,499 shares during the last quarter. Dana Investment Advisors Inc. boosted its position in shares of Broadcom by 2.6% during the third quarter. Dana Investment Advisors Inc. now owns 173,759 shares of the semiconductor manufacturer’s stock valued at $57,325,000 after buying an additional 4,442 shares during the last quarter. Sovran Advisors LLC increased 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 in the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its position 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 last quarter. Finally, Siligmueller & Norvid Wealth Advisors LLC purchased a new position in Broadcom in the 3rd quarter worth about $762,000. 76.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on AVGO. DA Davidson upped their target price on shares of Broadcom from $375.00 to $400.00 and gave the company a “neutral” rating in a research note on Thursday, June 4th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $525.00 price target on shares of Broadcom in a research note on Thursday, June 4th. Citigroup reissued a “buy” rating on shares of Broadcom in a report on Thursday, June 4th. UBS Group set a $485.00 price objective on shares of Broadcom and gave the company a “buy” rating in a research report on Thursday, June 4th. Finally, Weiss Ratings upgraded shares of Broadcom from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, June 9th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $490.13.

Broadcom Trading Up 4.7%

Shares of NASDAQ:AVGO opened at $411.35 on Friday. The stock has a market capitalization of $1.96 trillion, a price-to-earnings ratio of 68.56, a PEG ratio of 0.69 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. The stock’s 50-day simple moving average is $410.21 and its two-hundred day simple moving average is $363.17. Broadcom Inc. has a 52-week low of $244.17 and a 52-week high of $495.00.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings results 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. Broadcom had a return on equity of 41.61% and a net margin of 38.85%.The business had revenue of $22.19 billion during the quarter, compared to the consensus estimate of $22.13 billion. During the same period in the previous year, the company posted $1.58 EPS. The business’s quarterly revenue was up 47.9% compared to the same quarter last year. Analysts expect that Broadcom Inc. will post 10.24 EPS for the current year.

Broadcom Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 22nd will be given a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 0.6%. The ex-dividend date is Monday, June 22nd. Broadcom’s payout ratio is 43.33%.

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

Insider Activity at Broadcom

In other Broadcom news, insider Charlie B. Kawwas sold 10,000 shares of the stock in a transaction that occurred on 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 directly owned 787,184 shares in the company, valued at approximately $271,759,532.32. This trade represents a 1.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider S. Ram Velaga sold 8,000 shares of Broadcom stock in a transaction on Friday, April 10th. The stock was sold at an average price of $370.52, for a total transaction of $2,964,160.00. Following the transaction, the insider owned 57,932 shares in the company, valued at $21,464,964.64. This represents a 12.13% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 59,385 shares of company stock valued at $21,301,057 in the last three months. Corporate insiders own 1.90% of the company’s stock.

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.