MML Investors Services LLC Raises Position in Broadcom Inc. $AVGO

MML Investors Services LLC grew its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 9.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 697,188 shares of the semiconductor manufacturer’s stock after purchasing an additional 57,319 shares during the quarter. Broadcom makes up about 0.6% of MML Investors Services LLC’s investment portfolio, making the stock its 29th biggest position. MML Investors Services LLC’s holdings in Broadcom were worth $241,297,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the business. Mufg Securities Americas Inc. lifted its stake in shares of Broadcom by 0.3% during the 4th quarter. Mufg Securities Americas Inc. now owns 127,222 shares of the semiconductor manufacturer’s stock worth $44,032,000 after purchasing an additional 387 shares during the period. Nicolet Advisory Services LLC lifted its stake in shares of Broadcom by 21.3% during the 4th quarter. Nicolet Advisory Services LLC now owns 16,047 shares of the semiconductor manufacturer’s stock worth $5,652,000 after purchasing an additional 2,815 shares during the period. Niles Investment Management LLC purchased a new position in shares of Broadcom during the 4th quarter worth $5,813,000. Fifth Lane Capital LP lifted its stake in shares of Broadcom by 77.8% during the 4th quarter. Fifth Lane Capital LP now owns 4,000 shares of the semiconductor manufacturer’s stock worth $1,384,000 after purchasing an additional 1,750 shares during the period. Finally, Fort Point Capital Partners LLC lifted its stake in shares of Broadcom by 468.5% during the 4th quarter. Fort Point Capital Partners LLC now owns 52,424 shares of the semiconductor manufacturer’s stock worth $17,983,000 after purchasing an additional 43,203 shares during the period. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Insider Transactions at Broadcom

In related news, Director Gayla J. Delly sold 1,000 shares of the stock in a transaction on Thursday, April 9th. The stock was sold at an average price of $358.31, for a total value of $358,310.00. Following the completion of the sale, the director directly owned 32,352 shares in the company, valued at approximately $11,592,045.12. This represents a 3.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider S. Ram Velaga sold 8,000 shares of the stock in a transaction on Friday, April 10th. The shares were sold at an average price of $370.52, for a total value of $2,964,160.00. Following the completion of the sale, the insider owned 57,932 shares of the company’s stock, valued at approximately $21,464,964.64. This represents a 12.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 215,970 shares of company stock worth $71,104,945 in the last quarter. 1.90% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on AVGO. KeyCorp reissued an “overweight” rating and set a $575.00 price target (up from $500.00) on shares of Broadcom in a research note on Thursday, June 4th. Wells Fargo & Company restated an “overweight” rating and set a $545.00 price objective (up from $430.00) on shares of Broadcom in a report on Thursday, May 14th. Susquehanna restated a “positive” rating and set a $490.00 price objective (up from $450.00) on shares of Broadcom in a report on Thursday, May 28th. Oppenheimer restated an “outperform” rating and set a $535.00 price objective (up from $450.00) on shares of Broadcom in a report on Thursday, June 4th. Finally, JPMorgan Chase & Co. upped their price objective on Broadcom from $500.00 to $580.00 and gave the stock an “overweight” rating in a report on Thursday, June 4th. One analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $490.13.

Broadcom Stock Performance

AVGO stock opened at $382.07 on Monday. The company has a market cap of $1.82 trillion, a price-to-earnings ratio of 63.68, a PEG ratio of 0.67 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. The business has a fifty day simple moving average of $404.26 and a 200-day simple moving average of $363.22. 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 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. The business had revenue of $22.19 billion during the quarter, compared to the consensus estimate of $22.13 billion. Broadcom had a return on equity of 41.61% and a net margin of 38.85%.The business’s revenue for the quarter was up 47.9% on a year-over-year basis. During the same period in the prior year, the firm posted $1.58 EPS. On average, equities research analysts expect that Broadcom Inc. will post 10.24 EPS for the current year.

Broadcom Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 22nd will be issued a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 0.7%. The ex-dividend date is Monday, June 22nd. Broadcom’s dividend payout ratio is currently 43.33%.

More Broadcom News

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom’s quarterly results were very strong, with revenue up 48% to a record $22.2 billion, semiconductor revenue up 79%, AI semiconductor revenue up 143% to $10.8 billion, and more than $30 billion in AI bookings, suggesting demand remains robust. Article Title
• Positive Sentiment: Several analysts and commentators argue the recent drop could be a buying opportunity, saying Broadcom remains a core infrastructure winner in AI and that Wall Street’s long-term outlook is still constructive. Article Title
• Positive Sentiment: Fresh coverage highlighted Broadcom as one of the stocks with catalysts heading into the second half of the year, and some analysts have raised earnings forecasts and price targets despite the selloff. Article Title
• Neutral Sentiment: Jim Cramer said Broadcom’s earnings were “not good” and suggested tech stocks are harder to trust as leadership names, reflecting a more cautious market mood around the stock. Article Title
• Neutral Sentiment: Broadcom also announced cash tender offers for certain outstanding debt securities, a routine balance-sheet move that is unlikely to move the stock by itself. Article Title
• Negative Sentiment: Market commentary says the stock is being punished because investors are nitpicking Broadcom’s AI outlook and pricing the shares as if growth must keep accelerating without any hiccups. Article Title
• Negative Sentiment: One note warned that Broadcom told investors to expect gross profit margins to continue falling, reinforcing concerns that profitability may soften even as revenue grows. Article Title

Broadcom 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.