1,594 Shares in Broadcom Inc. $AVGO Purchased by First Growth Capital LLC

Key Points

• First Growth Capital LLC disclosed a new position in Broadcom, buying 1,594 shares valued at about $546,000 in the fourth quarter.
• Broadcom has continued to attract positive analyst attention, with firms like JPMorgan and Citi highlighting its AI and data-center growth potential, while several others raised price targets or upgraded the stock.
• The company recently reported strong quarterly results, beating earnings and revenue estimates, and also increased its cash tender offer for outstanding debt to $3 billion after strong investor demand.

First Growth Capital LLC acquired a new position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 1,594 shares of the semiconductor manufacturer's stock, valued at approximately $546,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in AVGO. ROSS JOHNSON & Associates LLC boosted its holdings in shares of 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 purchasing an additional 66 shares during the period. SWAN Capital LLC raised its holdings in Broadcom by 261.9% during the 4th quarter. SWAN Capital LLC now owns 76 shares of the semiconductor manufacturer's stock valued at $26,000 after buying an additional 55 shares during the period. Miller Global Investments LLC purchased a new stake in Broadcom during the 4th quarter valued at $31,000. Nvest Wealth Strategies Inc. bought a new stake in Broadcom in the fourth quarter worth $33,000. Finally, Family CFO Inc bought a new stake in Broadcom in the fourth quarter worth $35,000. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Broadcom News Summary

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom expanded its cash tender offers for outstanding debt to $3 billion from $2.5 billion after strong investor demand, which can be viewed as a sign of balance-sheet management and helped lift sentiment toward the stock. Broadcom Inc. Announces Results and Upsize of Offers to Purchase for Cash Certain of its Outstanding Debt Securities
• Positive Sentiment: JPMorgan reiterated a bullish view, saying investors should be “aggressive buyers” and arguing the market is underestimating Broadcom’s long-term AI opportunity, reinforcing the rally in AVGO. AVGO stock jumps — JPMorgan says investors should be 'aggressive buyers' of Broadcom at current levels
• Positive Sentiment: Citi also highlighted Broadcom as a top chip stock on soaring data-center demand, adding to optimism around AI-driven revenue growth. Citi Touts Broadcom Inc. (AVGO) as a Top Chip Stock on Soaring Data Center Demand
• Neutral Sentiment: Insider Mark David Brazeal sold shares in two June transactions totaling more than 8,100 shares. The sales are notable, but they represent relatively small reductions in a large personal holding and do not necessarily signal a change in the company’s outlook. Mark David Brazeal insider trading page

Analyst Upgrades and Downgrades

AVGO has been the topic of a number of analyst reports. Weiss Ratings upgraded shares of Broadcom from a "buy (b-)" rating to a "buy (b)" rating in a research report on Tuesday, June 9th. Cantor Fitzgerald restated an "overweight" rating and issued a $525.00 target price on shares of Broadcom in a report on Thursday, June 4th. Wells Fargo & Company restated an "overweight" rating and issued a $545.00 target price (up from $430.00) on shares of Broadcom in a report on Thursday, May 14th. Erste Group Bank raised shares of Broadcom from a "hold" rating to a "buy" rating in a research note on Friday, June 5th. Finally, DA Davidson upped their price target on shares of Broadcom from $375.00 to $400.00 and gave the company a "neutral" rating in a report on Thursday, June 4th. One research analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $490.13.

Insider Activity at Broadcom

In other Broadcom news, insider Charlie B. Kawwas sold 10,000 shares of the company's stock in a transaction dated Wednesday, April 8th. The shares were 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 $271,759,532.32. This represents a 1.25% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Mark David Brazeal sold 4,825 shares of the firm's stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $394.91, for a total transaction of $1,905,440.75. Following the transaction, the insider directly owned 269,989 shares in the company, valued at approximately $106,621,355.99. This trade represents a 1.76% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 59,385 shares of company stock worth $21,301,057 over the last ninety days. 1.90% of the stock is currently owned by company insiders.

Broadcom Stock Performance

Shares of Broadcom stock opened at $411.35 on Friday. 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 stock's fifty day moving average is $410.21 and its two-hundred day moving average is $363.17. Broadcom Inc. has a 52 week low of $244.17 and a 52 week high of $495.00. The company has a market capitalization of $1.96 trillion, a PE ratio of 68.56, a price-to-earnings-growth ratio of 0.69 and a beta of 1.41.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its 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. The business 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%.The business's revenue for the quarter was up 47.9% compared to the same quarter last year. During the same period last year, the company earned $1.58 earnings per share. As a group, analysts expect that Broadcom Inc. will post 10.24 earnings per share for the current 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 paid a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Monday, June 22nd. 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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