4,768 Shares in Broadcom Inc. $AVGO Bought by DUTCH ASSET Corp

Key Points

• DUTCH ASSET Corp reported a new stake in Broadcom, buying 4,768 shares valued at about $1.65 million. The position makes Broadcom roughly 1.3% of the portfolio and the fund’s 16th-largest holding.
• Broadcom continues to draw bullish analyst attention, with firms like Mizuho, Oppenheimer, Citigroup, and Goldman Sachs maintaining or raising positive ratings and targets. The consensus rating remains Moderate Buy with an average price target of $490.13.
• The company posted strong quarterly results, beating EPS and revenue estimates and delivering 47.9% year-over-year revenue growth. Broadcom also announced a quarterly dividend of $0.65 per share, payable June 30, while recent insider selling was disclosed.

DUTCH ASSET Corp acquired a new stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 4,768 shares of the semiconductor manufacturer's stock, valued at approximately $1,651,000. Broadcom makes up about 1.3% of DUTCH ASSET Corp's portfolio, making the stock its 16th biggest holding.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in AVGO. Baring Financial LLC lifted its holdings in shares of Broadcom by 2.2% in the fourth quarter. Baring Financial LLC now owns 1,359 shares of the semiconductor manufacturer's stock valued at $470,000 after purchasing an additional 29 shares in the last quarter. Five Oceans Advisors grew its holdings in shares of Broadcom by 0.4% during the fourth quarter. Five Oceans Advisors now owns 8,191 shares of the semiconductor manufacturer's stock worth $2,835,000 after buying an additional 29 shares in the last quarter. Planning Alternatives Ltd. ADV grew its holdings in shares of Broadcom by 1.4% during the third quarter. Planning Alternatives Ltd. ADV now owns 2,168 shares of the semiconductor manufacturer's stock worth $715,000 after buying an additional 30 shares in the last quarter. Bell Investment Advisors Inc raised its position in Broadcom by 1.9% in the 3rd quarter. Bell Investment Advisors Inc now owns 1,638 shares of the semiconductor manufacturer's stock valued at $540,000 after buying an additional 30 shares during the last quarter. Finally, Bare Financial Services Inc raised its position in Broadcom by 11.6% in the 3rd quarter. Bare Financial Services Inc now owns 299 shares of the semiconductor manufacturer's stock valued at $99,000 after buying an additional 31 shares during the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

Trending Headlines about Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom’s debt tender offer was upsized to $3 billion after strong investor demand, signaling active balance-sheet management and reinforcing investor confidence. Broadcom Inc. Announces Results and Upsize of Offers to Purchase for Cash Certain of its Outstanding Debt Securities
• Positive Sentiment: JPMorgan remained bullish on Broadcom, saying investors should be “aggressive buyers,” which supports the view that the market may still be underestimating AVGO’s AI growth. AVGO stock jumps — JPMorgan says investors should be 'aggressive buyers' of Broadcom at current levels
• Positive Sentiment: Citi also called Broadcom a top chip stock on strong data-center demand, adding another bullish Wall Street view tied to AI infrastructure spending. Citi Touts Broadcom Inc. (AVGO) as a Top Chip Stock on Soaring Data Center Demand
• Positive Sentiment: One report said VMware, Broadcom’s second-largest business, may be set to accelerate, which could broaden growth beyond the company’s AI chip exposure. VMware: Broadcom's Second Biggest Business Set to Accelerate
• Neutral Sentiment: Insider Mark David Brazeal sold shares in two June transactions, but the sales were relatively small versus his remaining stake and do not necessarily change the broader investment thesis. Mark David Brazeal insider trading page
• Negative Sentiment: One analyst warned that chip valuations are getting stretched and suggested investors could consider alternatives, including Broadcom, which may temper enthusiasm if valuation concerns intensify. Analyst Warns Intel Valuation ‘Doesn't Make Sense.' Suggests NVIDIA, AMD, Micron, and Broadcom as Alternatives.

Analyst Ratings Changes

A number of equities analysts have weighed in on AVGO shares. Mizuho upped their price target on Broadcom from $480.00 to $530.00 and gave the stock an "outperform" rating in a research report on Thursday, June 4th. Weiss Ratings raised shares of Broadcom from a "buy (b-)" rating to a "buy (b)" rating in a research note on Tuesday, June 9th. Oppenheimer reiterated an "outperform" rating and issued a $535.00 price objective (up from $450.00) on shares of Broadcom in a report on Thursday, June 4th. Citigroup reissued a "buy" rating on shares of Broadcom in a research report on Thursday, June 4th. Finally, The Goldman Sachs Group restated a "buy" rating and set a $525.00 target price on shares of Broadcom in a report on Thursday, June 4th. One investment analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $490.13.

Broadcom Stock Performance

Shares of NASDAQ AVGO opened at $411.35 on Monday. The stock has a 50 day moving average price of $411.42 and a 200 day moving average price of $363.34. 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. The stock has a market capitalization of $1.96 trillion, a PE ratio of 68.56, a price-to-earnings-growth ratio of 0.72 and a beta of 1.41.

Broadcom (NASDAQ:AVGO - Get Free Report) 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 return on equity of 41.61% and a net margin of 38.85%.The firm had revenue of $22.19 billion for the quarter, compared to analyst estimates of $22.13 billion. During the same quarter in the previous year, the firm earned $1.58 EPS. The business's quarterly revenue was up 47.9% on a year-over-year basis. Analysts predict that Broadcom Inc. will post 10.24 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The company 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. This represents a $2.60 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date is Monday, June 22nd. Broadcom's payout ratio is presently 43.33%.

Insider Buying and Selling at Broadcom

In other news, insider Mark David Brazeal sold 4,825 shares of Broadcom stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $394.91, for a total value of $1,905,440.75. Following the completion of the transaction, the insider owned 269,989 shares of the company's stock, valued at $106,621,355.99. This trade represents a 1.76% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider S. Ram Velaga sold 17,260 shares of the business's stock in a transaction dated Thursday, April 9th. The stock was sold at an average price of $352.12, for a total transaction of $6,077,591.20. Following the transaction, the insider owned 65,932 shares in the company, valued at $23,215,975.84. This represents a 20.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 59,385 shares of company stock valued at $21,301,057 in the last 90 days. Company insiders own 1.90% of the company's stock.

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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