17,782 Shares in Broadcom Inc. $AVGO Bought by Element Capital Management LLC

Element Capital Management LLC acquired a new stake in shares of Broadcom Inc. (NASDAQ:AVGO) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 17,782 shares of the semiconductor manufacturer’s stock, valued at approximately $6,154,000. Broadcom accounts for approximately 2.9% of Element Capital Management LLC’s holdings, making the stock its 12th largest position.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Broadcom by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 482,707,302 shares of the semiconductor manufacturer’s stock worth $167,064,997,000 after purchasing an additional 3,919,715 shares in the last quarter. State Street Corp raised its stake in Broadcom by 2.7% in the fourth quarter. State Street Corp now owns 190,084,351 shares of the semiconductor manufacturer’s stock valued at $65,788,194,000 after purchasing an additional 5,040,801 shares in the last quarter. Geode Capital Management LLC lifted its position in Broadcom by 1.4% during the fourth quarter. Geode Capital Management LLC now owns 111,277,280 shares of the semiconductor manufacturer’s stock valued at $38,396,634,000 after purchasing an additional 1,548,699 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in Broadcom by 3.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 85,546,083 shares of the semiconductor manufacturer’s stock valued at $29,607,500,000 after purchasing an additional 2,491,644 shares during the last quarter. Finally, Norges Bank purchased a new position in Broadcom in the 4th quarter worth approximately $24,252,196,000. 76.43% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

AVGO has been the topic of several research reports. Seaport Research Partners restated a “neutral” rating on shares of Broadcom in a research report on Wednesday, April 8th. KeyCorp restated an “overweight” rating and set a $575.00 price target (up from $500.00) on shares of Broadcom in a research report on Thursday, June 4th. Wall Street Zen raised Broadcom from a “buy” rating to a “strong-buy” rating in a research note on Monday. Wells Fargo & Company reiterated an “overweight” rating and issued a $545.00 price objective (up from $430.00) on shares of Broadcom in a report on Thursday, May 14th. Finally, Susquehanna reiterated a “positive” rating and set a $490.00 price objective (up from $450.00) on shares of Broadcom in a research report on Thursday, May 28th. One research analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $490.13.

Broadcom Price Performance

AVGO stock opened at $392.90 on Thursday. The firm has a market cap 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. The firm’s fifty day moving average is $408.66 and its 200 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 debt-to-equity ratio of 0.71, a quick ratio of 2.01 and a current ratio of 2.24.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share for the quarter, topping the consensus estimate of $2.40 by $0.04. Broadcom had a net margin of 38.85% and a return on equity of 41.61%. The business had revenue of $22.19 billion during the quarter, compared to the consensus estimate of $22.13 billion. During the same period in the previous year, the firm posted $1.58 earnings per share. The firm’s revenue for the quarter was up 47.9% on a year-over-year basis. Research analysts predict that Broadcom Inc. will post 10.24 earnings per share for the current year.

Broadcom Dividend Announcement

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

More Broadcom News

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

Insider Activity at Broadcom

In other news, 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 transaction of $3,452,300.00. Following the completion of the sale, the insider owned 787,184 shares of the company’s stock, valued at approximately $271,759,532.32. This represents a 1.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Harry L. You bought 1,000 shares of the business’s stock in a transaction dated Thursday, June 11th. The stock was purchased at an average price of $373.57 per share, for a total transaction of $373,570.00. Following the acquisition, the director directly owned 38,466 shares of the company’s stock, valued at approximately $14,369,743.62. The trade was a 2.67% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders sold a total of 51,233 shares of company stock worth $18,125,134 over the last three months. Corporate insiders own 1.90% of the company’s stock.

About Broadcom

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.