Diversify Wealth Management LLC Has $14.30 Million Holdings in Broadcom Inc. $AVGO

Diversify Wealth Management LLC lessened its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 5.0% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 40,333 shares of the semiconductor manufacturer’s stock after selling 2,115 shares during the quarter. Broadcom accounts for about 0.7% of Diversify Wealth Management LLC’s holdings, making the stock its 27th biggest position. Diversify Wealth Management LLC’s holdings in Broadcom were worth $14,302,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Providence First Trust Co raised its holdings in Broadcom by 1,099.3% during the 3rd quarter. Providence First Trust Co now owns 8,923 shares of the semiconductor manufacturer’s stock worth $2,944,000 after buying an additional 8,179 shares during the period. Whittier Trust Co. of Nevada Inc. increased its holdings in shares of Broadcom by 3.4% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 323,587 shares of the semiconductor manufacturer’s stock valued at $109,492,000 after purchasing an additional 10,786 shares during the period. Lmcg Investments LLC increased its holdings in shares of Broadcom by 9.4% in the 3rd quarter. Lmcg Investments LLC now owns 38,961 shares of the semiconductor manufacturer’s stock valued at $12,854,000 after purchasing an additional 3,357 shares during the period. Wright Investors Service Inc. increased its holdings in shares of Broadcom by 5.4% in the 3rd quarter. Wright Investors Service Inc. now owns 42,159 shares of the semiconductor manufacturer’s stock valued at $13,909,000 after purchasing an additional 2,178 shares during the period. Finally, Brown Brothers Harriman & Co. increased its holdings in shares of Broadcom by 10.7% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 77,411 shares of the semiconductor manufacturer’s stock valued at $25,539,000 after purchasing an additional 7,499 shares during the period. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insider Activity

In other Broadcom news, Director Justine Page sold 2,018 shares of the company’s stock in a transaction that occurred on Wednesday, April 8th. The stock was sold at an average price of $353.00, for a total transaction of $712,354.00. Following the completion of the sale, the director owned 18,164 shares of the company’s stock, valued at $6,411,892. This represents a 10.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Mark David Brazeal sold 50,488 shares of the company’s stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $321.60, for a total value of $16,236,940.80. Following the sale, the insider directly owned 278,141 shares of the company’s stock, valued at $89,450,145.60. The trade was a 15.36% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 324,282 shares of company stock valued at $106,425,249. Insiders own 1.90% of the company’s stock.

Analyst Upgrades and Downgrades

AVGO has been the topic of a number of research reports. Citigroup reiterated a “buy” rating and issued a $500.00 target price (up from $475.00) on shares of Broadcom in a report on Tuesday. Seaport Research Partners reiterated a “neutral” rating on shares of Broadcom in a report on Wednesday, April 8th. Wells Fargo & Company upgraded Broadcom from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $410.00 to $430.00 in a report on Thursday, January 15th. Zacks Research upgraded Broadcom from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 2nd. Finally, Royal Bank Of Canada dropped their target price on Broadcom from $370.00 to $340.00 and set a “sector perform” rating on the stock in a report on Monday, March 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $436.13.

Key Broadcom News

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Citi raised its price target on Broadcom to $500 from $475 and kept a Buy rating, saying the company remains one of Wall Street’s top semiconductor picks heading into earnings on continued AI demand. Broadcom Enters Earnings As Citi’s Top Semiconductor Pick
• Positive Sentiment: Multiple reports highlighted Broadcom’s growing role in custom AI silicon and AI infrastructure, including talk of a large financing package to support its chipmaking buildout, reinforcing the bullish long-term AI investment case. Why Broadcom (AVGO) Is Becoming a Bigger Force in Custom AI Silicon
• Positive Sentiment: Fund-flow headlines were supportive, with Chris Rokos reportedly buying Broadcom and Mirova US LLC increasing its stake, suggesting institutional confidence remains strong. Broadcom Inc. (AVGO): Chris Rokos Is Buying This Chip Stock
• Neutral Sentiment: Broadcom sued EU antitrust regulators over a request for U.S. legal documents tied to the VMware deal, which adds legal noise but is not yet a clear business fundamental issue. Broadcom sues EU antitrust regulators over request for US legal documents
• Negative Sentiment: Recent trading showed Broadcom easing after a strong run, and some commentary warned that tech valuations are becoming crowded, which may be prompting profit-taking in the stock. Broadcom Inc. (AVGO) Dips More Than Broader Market: What You Should Know
• Negative Sentiment: Some holders also trimmed positions, including PRIMECAP Management and Cincinnati Specialty Underwriters, adding a modest overhang to sentiment. PRIMECAP Management Co trims Broadcom stake by 12,410 shares

Broadcom Trading Down 0.6%

Shares of NASDAQ AVGO opened at $416.79 on Thursday. The stock has a market cap of $1.97 trillion, a price-to-earnings ratio of 81.40, a PEG ratio of 0.87 and a beta of 1.43. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.73 and a current ratio of 1.90. The business has a 50 day simple moving average of $360.94 and a 200 day simple moving average of $353.52. Broadcom Inc. has a 52 week low of $221.60 and a 52 week high of $437.68.

Broadcom (NASDAQ:AVGO) last announced its earnings results on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.03 by $0.02. The firm had revenue of $19.31 billion during the quarter, compared to analysts’ expectations of $19.10 billion. Broadcom had a return on equity of 38.61% and a net margin of 36.57%.The company’s revenue was up 29.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.60 earnings per share. On average, research analysts predict that Broadcom Inc. will post 9.95 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Monday, March 23rd were given a dividend of $0.65 per share. The ex-dividend date of this dividend was Monday, March 23rd. This represents a $2.60 dividend on an annualized basis and a yield of 0.6%. Broadcom’s dividend payout ratio is presently 50.78%.

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.