Broadcom Inc. $AVGO Shares Acquired by Bamco Inc. NY

Bamco Inc. NY increased its stake in Broadcom Inc. (NASDAQ:AVGO) by 8.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 537,840 shares of the semiconductor manufacturer’s stock after buying an additional 40,441 shares during the quarter. Bamco Inc. NY’s holdings in Broadcom were worth $186,146,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. ROSS JOHNSON & Associates LLC grew its stake in shares of Broadcom by 1,320.0% in the fourth 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 grew its stake in shares of Broadcom by 261.9% in the fourth quarter. SWAN Capital LLC now owns 76 shares of the semiconductor manufacturer’s stock valued at $26,000 after buying an additional 55 shares in the last quarter. Miller Global Investments LLC purchased a new position in Broadcom in the fourth quarter valued at about $31,000. Nvest Wealth Strategies Inc. purchased a new position in Broadcom in the fourth quarter valued at about $33,000. Finally, Family CFO Inc purchased a new position in Broadcom in the fourth quarter valued at about $35,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on AVGO. Wells Fargo & Company reissued an “overweight” rating and issued a $545.00 price target (up from $430.00) on shares of Broadcom in a report on Thursday, May 14th. KeyCorp reissued an “overweight” rating and issued a $575.00 price target (up from $500.00) on shares of Broadcom in a report on Thursday, June 4th. JPMorgan Chase & Co. increased their price target on Broadcom from $500.00 to $580.00 and gave the company an “overweight” rating in a report on Thursday, June 4th. Bank of America increased their price target on Broadcom from $450.00 to $530.00 and gave the company a “buy” rating in a report on Thursday, June 4th. Finally, Truist Financial increased their price target on Broadcom from $545.00 to $550.00 and gave the company a “buy” rating in a 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 issued a Hold rating to the stock. According to data from MarketBeat.com, Broadcom currently has a consensus rating of “Moderate Buy” and an average price target of $490.13.

Insider Activity at Broadcom

In other Broadcom news, Director Justine Page sold 2,018 shares of the 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 transaction, the director owned 18,164 shares of the company’s stock, valued at $6,411,892. This trade represents a 10.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Charlie B. Kawwas sold 10,000 shares of the stock in a transaction that occurred on Wednesday, April 8th. The stock was sold at an average price of $345.23, for a total value of $3,452,300.00. Following the transaction, the insider directly owned 787,184 shares in the company, valued at approximately $271,759,532.32. This represents a 1.25% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 51,233 shares of company stock worth $18,125,134 over the last quarter. 1.90% of the stock is owned by corporate insiders.

Broadcom Trading Up 4.3%

NASDAQ:AVGO opened at $392.90 on Thursday. 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’s 50 day moving average is $408.66 and its two-hundred day moving average is $363.11. Broadcom Inc. has a 52 week low of $244.17 and a 52 week high of $495.00. The company has a market cap of $1.87 trillion, a PE ratio of 65.48, a P/E/G ratio of 0.66 and a beta of 1.41.

Broadcom (NASDAQ:AVGO) last released 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 return on equity of 41.61% and a net margin of 38.85%.The company had revenue of $22.19 billion for the quarter, compared to the consensus estimate of $22.13 billion. During the same quarter last year, the business posted $1.58 EPS. Broadcom’s quarterly revenue was up 47.9% compared to the same quarter last year. On average, analysts predict that Broadcom Inc. will post 10.24 EPS for the current year.

Broadcom Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 22nd will be issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Monday, June 22nd. Broadcom’s dividend payout ratio (DPR) is currently 43.33%.

Trending Headlines about Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: JPMorgan reiterated a bullish stance on Broadcom, saying the market may be underestimating its long-term AI opportunity and calling the shares attractive at current levels. Barrons article
• Positive Sentiment: Other coverage highlighted Broadcom’s “massive AI pipeline” and the company’s growing role in AI infrastructure, reinforcing expectations for multi-year revenue growth. Benzinga article
• Positive Sentiment: Broadcom announced pricing terms for cash tender offers to repurchase portions of its outstanding debt, a move that can support balance-sheet management and financial flexibility. PR Newswire article
• Neutral Sentiment: Commentary on Broadcom’s latest quarter noted strong AI-chip demand and revenue growth, but also pointed to gross margin pressure and cautious guidance, which may be keeping some investors from getting more aggressive. Zacks article
• Negative Sentiment: Some broader AI-stock commentary has compared today’s AI capex boom to the dot-com era, renewing valuation and cycle-risk concerns across the sector that could weigh on sentiment for AVGO. 247WallSt article

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.