USS Investment Management Ltd Grows Position in Broadcom Inc. $AVGO

USS Investment Management Ltd grew its position in Broadcom Inc. (NASDAQ:AVGO) by 3.1% during the first quarter, HoldingsChannel.com reports. The fund owned 765,851 shares of the semiconductor manufacturer’s stock after acquiring an additional 23,379 shares during the quarter. Broadcom comprises 1.0% of USS Investment Management Ltd’s investment portfolio, making the stock its 13th biggest position. USS Investment Management Ltd’s holdings in Broadcom were worth $236,970,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Tcfg Wealth Management LLC boosted its position in shares of Broadcom by 4.1% during the 1st quarter. Tcfg Wealth Management LLC now owns 6,341 shares of the semiconductor manufacturer’s stock valued at $1,963,000 after acquiring an additional 249 shares during the last quarter. IFM Investors Pty Ltd increased its position in Broadcom by 4.1% in the first quarter. IFM Investors Pty Ltd now owns 928,103 shares of the semiconductor manufacturer’s stock worth $287,257,000 after purchasing an additional 36,920 shares during the last quarter. Rexford Capital Inc. increased its position in Broadcom by 63.1% in the first quarter. Rexford Capital Inc. now owns 1,359 shares of the semiconductor manufacturer’s stock worth $421,000 after purchasing an additional 526 shares during the last quarter. Severin Investments LLC raised its stake in Broadcom by 24.9% during the first quarter. Severin Investments LLC now owns 6,831 shares of the semiconductor manufacturer’s stock valued at $2,114,000 after purchasing an additional 1,362 shares in the last quarter. Finally, Bayban raised its stake in Broadcom by 25.3% during the first quarter. Bayban now owns 565 shares of the semiconductor manufacturer’s stock valued at $175,000 after purchasing an additional 114 shares in the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Mark David Brazeal sold 4,825 shares of the stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $394.91, for a total value of $1,905,440.75. Following the sale, the insider directly owned 269,989 shares in the company, valued at approximately $106,621,355.99. This represents a 1.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Gayla J. Delly sold 1,000 shares of the firm’s stock in a transaction that occurred 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 sale, the director directly owned 32,352 shares of the company’s stock, valued at $11,592,045.12. This represents a 3.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 60,987 shares of company stock valued at $21,899,980 over the last quarter. Corporate insiders own 1.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on AVGO shares. Jefferies Financial Group set a $550.00 price objective on shares of Broadcom and gave the stock a “buy” rating in a research note on Thursday, June 4th. Bank of America upped their target price on shares of Broadcom from $450.00 to $530.00 and gave the company a “buy” rating in a research report on Thursday, June 4th. Dbs Bank raised shares of Broadcom to a “moderate buy” rating in a report on Thursday, June 18th. Royal Bank Of Canada lifted their price target on Broadcom from $360.00 to $400.00 and gave the stock a “sector perform” rating in a research report on Thursday, June 4th. Finally, Mizuho boosted their price objective on Broadcom from $480.00 to $530.00 and gave the stock an “outperform” rating in a research note on Thursday, June 4th. 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. According to data from MarketBeat, Broadcom has a consensus rating of “Moderate Buy” and a consensus price target of $493.24.

Broadcom News Summary

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: JPMorgan, UBS, Jefferies and other analysts remain constructive on Broadcom’s AI-driven growth, with price targets well above current levels and continued optimism around custom AI silicon demand, including exposure to customers such as OpenAI and Anthropic. UBS Reaffirms Buy Rating on Broadcom (AVGO) Amid AI ASIC Demand and OpenAI, Anthropic Growth
• Positive Sentiment: Articles highlighting Broadcom’s partnership with OpenAI on the “Jalapeño” AI accelerator reinforce the market’s bullish view that AI infrastructure can keep driving revenue growth. What Broadcom (AVGO)’s Jalapeño AI Accelerator Partnership With OpenAI Means For Shareholders
• Neutral Sentiment: Several recent write-ups argue Broadcom may be attractive after its pullback, but they mostly restate the same long-term thesis rather than pointing to a new catalyst. Why Broadcom Stock Slumped Today
• Neutral Sentiment: Investors continue to search for clues on whether Broadcom can rebound from its post-earnings decline, with coverage focusing on earnings estimates and fair-value changes. Broadcom (AVGO) Stock Gets Fair Value Boost As Analysts Split On AI Outlook
• Negative Sentiment: Director Justine Page sold 1,602 shares of Broadcom stock, extending insider-selling headlines that can weigh on sentiment even if the sale is relatively small versus the company’s size. SEC Form 4 filing for Justine Page sale
• Negative Sentiment: Broadcom remains about 14% below its last earnings report level, and recent commentary suggests investors are still uneasy about whether the company’s strong results were enough to justify its premium valuation. Broadcom Inc. (AVGO) Down 14% Since Last Earnings Report: Can It Rebound?

Broadcom Stock Performance

AVGO stock opened at $360.45 on Friday. Broadcom Inc. has a twelve month low of $269.58 and a twelve month high of $495.00. The stock has a market capitalization of $1.71 trillion, a price-to-earnings ratio of 60.08, a price-to-earnings-growth ratio of 0.63 and a beta of 1.45. 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 firm’s fifty day simple moving average is $407.92 and its two-hundred day simple moving average is $362.33.

Broadcom (NASDAQ:AVGO) last released its earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share (EPS) 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 firm had revenue of $22.19 billion during the quarter, compared to analyst estimates of $22.13 billion. During the same quarter last year, the business earned $1.58 EPS. The business’s revenue was up 47.9% on a year-over-year basis. As a group, analysts anticipate that Broadcom Inc. will post 10.24 earnings per share for the current year.

Broadcom Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 22nd were paid a $0.65 dividend. The ex-dividend date of this dividend was Monday, June 22nd. This represents a $2.60 annualized dividend and a yield of 0.7%. Broadcom’s dividend payout ratio (DPR) is presently 43.33%.

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.