Van Diest Capital LLC Buys Shares of 1,563 Broadcom Inc. $AVGO

Van Diest Capital LLC purchased a new position in shares of Broadcom Inc. (NASDAQ:AVGO) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 1,563 shares of the semiconductor manufacturer’s stock, valued at approximately $541,000. Broadcom comprises about 0.8% of Van Diest Capital LLC’s portfolio, making the stock its 29th biggest position.

Several other hedge funds also recently made changes to their positions in the business. Norges Bank acquired a new position in Broadcom during the fourth quarter worth $24,252,196,000. Cardano Risk Management B.V. increased its stake in Broadcom by 895.2% in the 4th quarter. Cardano Risk Management B.V. now owns 12,689,800 shares of the semiconductor manufacturer’s stock valued at $4,391,940,000 after buying an additional 11,414,701 shares during the last quarter. State Street Corp increased its stake in Broadcom by 2.7% in the 4th quarter. State Street Corp now owns 190,084,351 shares of the semiconductor manufacturer’s stock valued at $65,788,194,000 after buying an additional 5,040,801 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its position in Broadcom by 499.4% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 5,634,232 shares of the semiconductor manufacturer’s stock worth $1,858,789,000 after buying an additional 4,694,313 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in Broadcom by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 482,707,302 shares of the semiconductor manufacturer’s stock worth $167,064,997,000 after buying an additional 3,919,715 shares in the last quarter. 76.43% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Oppenheimer restated an “outperform” rating and set a $535.00 price objective (up from $450.00) on shares of Broadcom in a research note on Thursday, June 4th. JPMorgan Chase & Co. upped their price target on shares of Broadcom from $500.00 to $580.00 and gave the stock an “overweight” rating in a research report on Thursday, June 4th. The Goldman Sachs Group reiterated a “buy” rating and issued a $525.00 price target on shares of Broadcom in a research note on Thursday, June 4th. Evercore reissued an “outperform” rating and issued a $582.00 price objective on shares of Broadcom in a research report on Tuesday, May 19th. Finally, Truist Financial boosted their price objective on shares of Broadcom from $545.00 to $550.00 and gave the stock a “buy” rating in a research note on Thursday, June 4th. One investment analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Broadcom currently has a consensus rating of “Moderate Buy” and a consensus target price of $490.13.

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

Broadcom Stock Up 4.7%

AVGO opened at $411.35 on Friday. The stock’s fifty day simple moving average is $410.21 and its 200 day simple moving average is $363.17. Broadcom Inc. has a 1-year low of $244.17 and a 1-year high of $495.00. The stock has a market cap of $1.96 trillion, a PE ratio of 68.56, a price-to-earnings-growth ratio of 0.69 and a beta of 1.41. 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 released 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. Broadcom had a net margin of 38.85% and a return on equity of 41.61%. The firm had revenue of $22.19 billion during the quarter, compared to analysts’ expectations of $22.13 billion. During the same period in the previous year, the business posted $1.58 earnings per share. The company’s revenue for the quarter was up 47.9% compared to the same quarter last year. As a group, research analysts expect that Broadcom Inc. will post 10.24 earnings per share for the current year.

Broadcom Announces Dividend

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

Insider Buying and Selling at Broadcom

In related news, Director Harry L. You bought 1,000 shares of Broadcom stock in a transaction that occurred on Thursday, June 11th. The stock was acquired at an average price of $373.57 per share, with a total value of $373,570.00. Following the acquisition, the director owned 38,466 shares of the company’s stock, valued at approximately $14,369,743.62. This represents a 2.67% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gayla J. Delly sold 1,000 shares of the company’s stock in a transaction dated Thursday, April 9th. The shares were sold at an average price of $358.31, for a total transaction of $358,310.00. Following the completion of the transaction, the director owned 32,352 shares in the company, valued at approximately $11,592,045.12. This trade represents a 3.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 59,385 shares of company stock worth $21,301,057 in the last ninety days. Insiders own 1.90% of the company’s stock.

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.