Gunpowder Capital Management LLC dba Oliver Wealth Management Makes New $2.13 Million Investment in Broadcom Inc. $AVGO

Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new position in Broadcom Inc. (NASDAQ:AVGO) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 6,155 shares of the semiconductor manufacturer’s stock, valued at approximately $2,130,000. Broadcom makes up approximately 1.7% of Gunpowder Capital Management LLC dba Oliver Wealth Management’s investment portfolio, making the stock its 17th largest position.

Several other hedge funds and other institutional investors also recently modified their holdings of AVGO. ROSS JOHNSON & Associates LLC grew its stake in Broadcom by 1,320.0% in the 4th quarter. ROSS JOHNSON & Associates LLC now owns 71 shares of the semiconductor manufacturer’s stock valued at $25,000 after buying an additional 66 shares in the last quarter. SWAN Capital LLC lifted its position in shares of Broadcom by 261.9% during the fourth quarter. SWAN Capital LLC now owns 76 shares of the semiconductor manufacturer’s stock worth $26,000 after acquiring an additional 55 shares in the last quarter. Miller Global Investments LLC purchased a new stake in shares of Broadcom during the fourth quarter worth $31,000. Nvest Wealth Strategies Inc. bought a new position in shares of Broadcom in the fourth quarter worth $33,000. Finally, Family CFO Inc bought a new position in shares of Broadcom in the fourth quarter worth $35,000. Institutional investors own 76.43% of the company’s stock.

Broadcom Price Performance

Shares of NASDAQ AVGO opened at $411.35 on Friday. The stock’s 50-day simple moving average is $411.42 and its two-hundred day simple moving average is $363.50. Broadcom Inc. has a twelve month low of $244.17 and a twelve month high of $495.00. The firm has a market capitalization of $1.96 trillion, a P/E ratio of 68.56, a P/E/G ratio of 0.72 and a beta of 1.41. 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 (NASDAQ:AVGO) last issued 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 firm had revenue of $22.19 billion during the quarter, compared to the consensus estimate of $22.13 billion. During the same quarter last year, the company posted $1.58 EPS. The company’s revenue for the quarter was up 47.9% on a year-over-year basis. As a group, equities analysts anticipate that Broadcom Inc. will post 10.24 EPS for the current fiscal year.

Broadcom Dividend Announcement

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

More Broadcom News

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom’s debt tender offer was upsized to $3 billion after strong investor demand, signaling active balance-sheet management and reinforcing investor confidence. Broadcom Inc. Announces Results and Upsize of Offers to Purchase for Cash Certain of its Outstanding Debt Securities
• Positive Sentiment: JPMorgan remained bullish on Broadcom, saying investors should be “aggressive buyers,” which supports the view that the market may still be underestimating AVGO’s AI growth. AVGO stock jumps — JPMorgan says investors should be ‘aggressive buyers’ of Broadcom at current levels
• Positive Sentiment: Citi also called Broadcom a top chip stock on strong data-center demand, adding another bullish Wall Street view tied to AI infrastructure spending. Citi Touts Broadcom Inc. (AVGO) as a Top Chip Stock on Soaring Data Center Demand
• Positive Sentiment: One report said VMware, Broadcom’s second-largest business, may be set to accelerate, which could broaden growth beyond the company’s AI chip exposure. VMware: Broadcom’s Second Biggest Business Set to Accelerate
• Neutral Sentiment: Insider Mark David Brazeal sold shares in two June transactions, but the sales were relatively small versus his remaining stake and do not necessarily change the broader investment thesis. Mark David Brazeal insider trading page
• Negative Sentiment: One analyst warned that chip valuations are getting stretched and suggested investors could consider alternatives, including Broadcom, which may temper enthusiasm if valuation concerns intensify. Analyst Warns Intel Valuation ‘Doesn’t Make Sense.’ Suggests NVIDIA, AMD, Micron, and Broadcom as Alternatives.

Insider Buying and Selling at Broadcom

In other news, Director Gayla J. Delly sold 1,000 shares of the firm’s stock in a transaction 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 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Mark David Brazeal sold 4,825 shares of Broadcom stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $394.91, for a total transaction of $1,905,440.75. Following the sale, the insider directly owned 269,989 shares of the company’s stock, valued at $106,621,355.99. This represents a 1.76% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 59,385 shares of company stock valued at $21,301,057 over the last quarter. Company insiders own 1.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Royal Bank Of Canada lifted their price target on Broadcom from $360.00 to $400.00 and gave the company a “sector perform” rating in a research report on Thursday, June 4th. DA Davidson increased their price objective on Broadcom from $375.00 to $400.00 and gave the stock a “neutral” rating in a report on Thursday, June 4th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $515.00 target price (up from $430.00) on shares of Broadcom in a research note on Thursday, June 4th. UBS Group set a $485.00 target price on Broadcom and gave the company a “buy” rating in a report on Thursday, June 4th. Finally, Weiss Ratings upgraded Broadcom from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, June 9th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Broadcom presently has an average rating of “Moderate Buy” and an average target price 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.