Cane Capital Partners LLC Grows Holdings in Broadcom Inc. $AVGO

Cane Capital Partners LLC grew its position in Broadcom Inc. (NASDAQ:AVGO) by 21.2% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 16,358 shares of the semiconductor manufacturer’s stock after acquiring an additional 2,864 shares during the period. Broadcom comprises approximately 2.2% of Cane Capital Partners LLC’s investment portfolio, making the stock its 13th biggest position. Cane Capital Partners LLC’s holdings in Broadcom were worth $5,063,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the business. Vertrix Wealth Management LLC acquired a new stake in Broadcom in the 1st quarter valued at $5,436,000. Essex LLC grew its holdings in shares of Broadcom by 9.2% during the first quarter. Essex LLC now owns 3,629 shares of the semiconductor manufacturer’s stock worth $1,123,000 after buying an additional 305 shares in the last quarter. Lederer & Associates Investment Counsel CA boosted its position in Broadcom by 0.4% during the first quarter. Lederer & Associates Investment Counsel CA now owns 11,547 shares of the semiconductor manufacturer’s stock worth $3,574,000 after acquiring an additional 47 shares during the last quarter. USS Investment Management Ltd lifted its stake in Broadcom by 3.1% in the 1st quarter. USS Investment Management Ltd now owns 765,851 shares of the semiconductor manufacturer’s stock worth $236,970,000 after purchasing an additional 23,379 shares in the last quarter. Finally, Tcfg Wealth Management LLC grew its position in shares of Broadcom by 4.1% in the first quarter. Tcfg Wealth Management LLC now owns 6,341 shares of the semiconductor manufacturer’s stock valued at $1,963,000 after purchasing an additional 249 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Broadcom

In other news, Director Justine Page sold 2,018 shares of the firm’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 transaction, the director directly owned 18,164 shares in the company, valued at approximately $6,411,892. This trade represents a 10.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Charlie B. Kawwas sold 10,000 shares of the firm’s stock in a transaction on Wednesday, April 8th. The stock was sold at an average price of $345.23, for a total transaction of $3,452,300.00. Following the transaction, the insider directly owned 787,184 shares in the company, valued at $271,759,532.32. The trade was a 1.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 60,987 shares of company stock valued at $21,899,980. 1.90% of the stock is owned by company insiders.

Broadcom Price Performance

Broadcom stock opened at $360.45 on Friday. The company has a current ratio of 2.24, a quick ratio of 2.01 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $1.71 trillion, a P/E ratio of 60.08, a P/E/G ratio of 0.63 and a beta of 1.45. The stock’s fifty day simple moving average is $407.92 and its 200-day simple moving average is $362.33. Broadcom Inc. has a twelve month low of $269.58 and a twelve month high of $495.00.

Broadcom (NASDAQ:AVGO) last issued its earnings results 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 the consensus estimate of $22.13 billion. During the same quarter in the previous year, the firm posted $1.58 earnings per share. The company’s revenue was up 47.9% compared to the same quarter last year. As a group, equities analysts expect that Broadcom Inc. will post 10.24 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 22nd were issued a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Monday, June 22nd. Broadcom’s dividend payout ratio is presently 43.33%.

Key Headlines Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: JPMorgan, UBS, Jefferies and other analysts remain constructive on Broadcom’s AI-driven growth, with price targets well above current levels and continued optimism around custom AI silicon demand, including exposure to customers such as OpenAI and Anthropic. UBS Reaffirms Buy Rating on Broadcom (AVGO) Amid AI ASIC Demand and OpenAI, Anthropic Growth
• Positive Sentiment: Articles highlighting Broadcom’s partnership with OpenAI on the “Jalapeño” AI accelerator reinforce the market’s bullish view that AI infrastructure can keep driving revenue growth. What Broadcom (AVGO)’s Jalapeño AI Accelerator Partnership With OpenAI Means For Shareholders
• Neutral Sentiment: Several recent write-ups argue Broadcom may be attractive after its pullback, but they mostly restate the same long-term thesis rather than pointing to a new catalyst. Why Broadcom Stock Slumped Today
• Neutral Sentiment: Investors continue to search for clues on whether Broadcom can rebound from its post-earnings decline, with coverage focusing on earnings estimates and fair-value changes. Broadcom (AVGO) Stock Gets Fair Value Boost As Analysts Split On AI Outlook
• Negative Sentiment: Director Justine Page sold 1,602 shares of Broadcom stock, extending insider-selling headlines that can weigh on sentiment even if the sale is relatively small versus the company’s size. SEC Form 4 filing for Justine Page sale
• Negative Sentiment: Broadcom remains about 14% below its last earnings report level, and recent commentary suggests investors are still uneasy about whether the company’s strong results were enough to justify its premium valuation. Broadcom Inc. (AVGO) Down 14% Since Last Earnings Report: Can It Rebound?

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on AVGO shares. Wall Street Zen upgraded Broadcom from a “buy” rating to a “strong-buy” rating in a report on Wednesday. Evercore restated an “outperform” rating and set a $582.00 price target on shares of Broadcom in a report on Tuesday, May 19th. Truist Financial lifted their price target on shares of Broadcom from $545.00 to $550.00 and gave the company a “buy” rating in a research report on Thursday, June 4th. Dbs Bank upgraded Broadcom to a “moderate buy” rating in a report on Thursday, June 18th. Finally, TD Cowen reiterated a “buy” rating and issued a $500.00 price objective on shares of Broadcom in a research report on Thursday, June 4th. One investment 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. According to MarketBeat, Broadcom presently has a consensus rating of “Moderate Buy” and an average target price of $493.24.

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.