10,219 Shares in Broadcom Inc. $AVGO Purchased by BNB Wealth Management LLC

BNB Wealth Management LLC bought a new position in shares of Broadcom Inc. (NASDAQ:AVGO) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 10,219 shares of the semiconductor manufacturer’s stock, valued at approximately $3,537,000. Broadcom accounts for 2.3% of BNB Wealth Management LLC’s holdings, making the stock its 17th biggest holding.

Several other large investors have also recently added to or reduced their stakes in AVGO. ROSS JOHNSON & Associates LLC increased its stake in Broadcom by 1,320.0% during the fourth quarter. ROSS JOHNSON & Associates LLC now owns 71 shares of the semiconductor manufacturer’s stock worth $25,000 after acquiring an additional 66 shares during the last quarter. SWAN Capital LLC increased its stake in 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 during the last quarter. Miller Global Investments LLC acquired a new stake in Broadcom during the fourth quarter worth about $31,000. Nvest Wealth Strategies Inc. acquired a new stake in Broadcom during the fourth quarter worth about $33,000. Finally, Family CFO Inc acquired a new stake in Broadcom during the fourth quarter worth about $35,000. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Charlie B. Kawwas sold 10,000 shares of the firm’s 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 sale, the insider owned 787,184 shares of the company’s stock, valued at approximately $271,759,532.32. This trade represents a 1.25% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Harry L. You bought 1,000 shares of the stock in a transaction that occurred on Thursday, June 11th. The stock was acquired at an average price of $373.57 per share, for a total transaction of $373,570.00. Following the completion of the transaction, the director owned 38,466 shares in the company, valued at $14,369,743.62. This trade represents a 2.67% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last quarter, insiders have sold 51,233 shares of company stock worth $18,125,134. 1.90% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on AVGO shares. Royal Bank Of Canada increased their target price on Broadcom from $360.00 to $400.00 and gave the company a “sector perform” rating in a research note on Thursday, June 4th. Evercore reiterated an “outperform” rating and issued a $582.00 target price on shares of Broadcom in a research note on Tuesday, May 19th. Truist Financial increased their target price on Broadcom from $545.00 to $550.00 and gave the company a “buy” rating in a research note on Thursday, June 4th. Mizuho increased their target price on Broadcom from $480.00 to $530.00 and gave the company an “outperform” rating in a research note on Thursday, June 4th. Finally, Morgan Stanley set a $502.00 target price on Broadcom and gave the company an “overweight” rating in a research note on Thursday, June 4th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, Broadcom presently has an average rating of “Moderate Buy” and an average target price of $490.13.

Broadcom News Roundup

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 Trading Up 4.3%

Shares of AVGO opened at $392.90 on Thursday. The company has a market capitalization of $1.87 trillion, a P/E ratio of 65.48, a P/E/G ratio of 0.66 and a beta of 1.41. Broadcom Inc. has a one year low of $244.17 and a one year high of $495.00. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.01 and a current ratio of 2.24. The stock has a 50-day moving average price of $408.66 and a 200 day moving average price of $363.11.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 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 in the prior year, the business posted $1.58 earnings per share. Broadcom’s revenue for the quarter was up 47.9% on a year-over-year basis. Sell-side analysts forecast that Broadcom Inc. will post 10.24 EPS for the current fiscal 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. The ex-dividend date of this dividend is Monday, June 22nd. This represents a $2.60 annualized dividend and a dividend yield of 0.7%. Broadcom’s dividend payout ratio (DPR) is 43.33%.

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.