15,088 Shares in Broadcom Inc. $AVGO Acquired by Cinctive Capital Management LP

Key Points

• Cinctive Capital Management opened a new position in Broadcom during the fourth quarter, buying 15,088 shares valued at about $5.22 million. Other institutional investors also added to Broadcom, and hedge funds now own about 76.43% of the stock.
• Analysts remain broadly constructive on Broadcom, with JPMorgan and Truist raising price targets and the consensus rating sitting at Moderate Buy. The average target price is about $490.13.
• Broadcom reported stronger-than-expected quarterly results, including EPS of $2.44 on revenue of $22.19 billion, with revenue up 47.9% year over year. The company also announced a quarterly dividend of $0.65 per share, payable June 30.

Cinctive Capital Management LP bought a new position in Broadcom Inc. (NASDAQ:AVGO - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 15,088 shares of the semiconductor manufacturer's stock, valued at approximately $5,222,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. ROSS JOHNSON & Associates LLC increased its holdings in Broadcom by 1,320.0% in the 4th quarter. ROSS JOHNSON & Associates LLC now owns 71 shares of the semiconductor manufacturer's stock worth $25,000 after acquiring an additional 66 shares in the last quarter. SWAN Capital LLC increased its holdings in Broadcom by 261.9% in the 4th quarter. SWAN Capital LLC now owns 76 shares of the semiconductor manufacturer's stock worth $26,000 after acquiring an additional 55 shares in the last quarter. Miller Global Investments LLC purchased a new stake in Broadcom in the 4th quarter worth approximately $31,000. Nvest Wealth Strategies Inc. purchased a new stake in Broadcom in the 4th quarter worth approximately $33,000. Finally, Family CFO Inc purchased a new stake in Broadcom in the 4th quarter worth approximately $35,000. 76.43% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on AVGO shares. JPMorgan Chase & Co. increased their price objective on shares of Broadcom from $500.00 to $580.00 and gave the company an "overweight" rating in a report on Thursday, June 4th. Zacks Research lowered shares of Broadcom from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 21st. Truist Financial increased their price objective on shares of Broadcom from $545.00 to $550.00 and gave the company a "buy" rating in a report on Thursday, June 4th. Rosenblatt Securities reaffirmed a "buy" rating and set a $500.00 price objective on shares of Broadcom in a report on Thursday, June 4th. Finally, Seaport Research Partners reaffirmed a "neutral" rating on shares of Broadcom in a report on Wednesday, April 8th. One investment analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus 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

Insider Buying and Selling

In related news, Director Gayla J. Delly sold 1,000 shares of the firm's 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 $11,592,045.12. This trade represents a 3.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Justine Page sold 2,018 shares of the firm's stock in a transaction on Wednesday, April 8th. The stock was sold at an average price of $353.00, for a total value of $712,354.00. Following the completion of the sale, the director owned 18,164 shares of the company's stock, valued at approximately $6,411,892. This represents a 10.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 51,233 shares of company stock valued at $18,125,134 over the last 90 days. 1.90% of the stock is currently owned by insiders.

Broadcom Stock Up 4.3%

NASDAQ AVGO opened at $392.90 on Thursday. 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 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 stock has a 50 day moving average price of $408.66 and a 200-day moving average price of $363.11.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its quarterly earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.40 by $0.04. The company 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%.Broadcom's revenue was up 47.9% on a year-over-year basis. During the same period last year, the company earned $1.58 earnings per share. As a group, equities analysts predict 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 given a $0.65 dividend. The ex-dividend date is Monday, June 22nd. This represents a $2.60 dividend on an annualized basis and a yield of 0.7%. Broadcom's dividend payout ratio (DPR) is currently 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.

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