71 West Capital Partners Makes New Investment in Broadcom Inc. $AVGO

Key Points

• 71 West Capital Partners opened a new position in Broadcom during the fourth quarter, buying 23,059 shares valued at about $7.98 million.
• Wall Street remains mostly bullish on AVGO, with multiple firms raising price targets; the stock currently carries a Moderate Buy consensus and an average target price of $490.13.
• Broadcom reported strong quarterly results, beating EPS expectations and posting 47.9% year-over-year revenue growth, even as the stock was trading down and investors weighed valuation and AI guidance concerns.

71 West Capital Partners acquired a new position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 23,059 shares of the semiconductor manufacturer's stock, valued at approximately $7,981,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Baring Financial LLC raised its holdings in Broadcom by 2.2% during the fourth quarter. Baring Financial LLC now owns 1,359 shares of the semiconductor manufacturer's stock worth $470,000 after purchasing an additional 29 shares in the last quarter. Five Oceans Advisors raised its holdings in 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 purchasing an additional 29 shares in the last quarter. Planning Alternatives Ltd. ADV raised its holdings in 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 purchasing an additional 30 shares in the last quarter. Bell Investment Advisors Inc raised its holdings in Broadcom by 1.9% during the third quarter. Bell Investment Advisors Inc now owns 1,638 shares of the semiconductor manufacturer's stock worth $540,000 after purchasing an additional 30 shares in the last quarter. Finally, Bare Financial Services Inc raised its holdings in Broadcom by 11.6% during the third quarter. Bare Financial Services Inc now owns 299 shares of the semiconductor manufacturer's stock worth $99,000 after purchasing an additional 31 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on AVGO. Weiss Ratings raised shares of Broadcom from a "buy (b-)" rating to a "buy (b)" rating in a report on Tuesday, June 9th. Bank of America upped their price target 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. Wells Fargo & Company reiterated an "overweight" rating and set a $545.00 price target (up from $430.00) on shares of Broadcom in a research note on Thursday, May 14th. Truist Financial increased their price target on shares of Broadcom from $545.00 to $550.00 and gave the stock a "buy" rating in a research note on Thursday, June 4th. Finally, Zacks Research cut shares of Broadcom from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 21st. One analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $490.13.

Insider Transactions at Broadcom

In related news, Director Justine Page sold 2,018 shares of Broadcom stock in a transaction on Wednesday, April 8th. The shares were sold at an average price of $353.00, for a total value of $712,354.00. Following the transaction, the director directly owned 18,164 shares in the company, valued at $6,411,892. This trade represents a 10.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider S. Ram Velaga sold 17,260 shares of Broadcom stock in a transaction on Thursday, April 9th. The shares were sold at an average price of $352.12, for a total transaction of $6,077,591.20. Following the completion of the transaction, the insider owned 65,932 shares in the company, valued at approximately $23,215,975.84. This trade represents a 20.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 51,233 shares of company stock worth $18,125,134 over the last quarter. 1.90% of the stock is currently owned by corporate insiders.

Broadcom News Roundup

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Director Harry L. You bought 1,000 Broadcom shares in a disclosed SEC filing, a sign of confidence that can reassure investors after the recent selloff. SEC Form 4 filing
• Positive Sentiment: Broadcom continues to be viewed as a major AI infrastructure beneficiary, with recent articles highlighting its semiconductor, networking, and custom compute exposure as AI spending remains strong. Investopedia article
• Positive Sentiment: Wall Street Zen reportedly upgraded Broadcom to Strong-Buy, adding to bullish analyst sentiment around the stock. American Banking News article
• Positive Sentiment: Broadcom’s spring and Java security initiative, along with new AI-enabled vulnerability detection tools, may support its infrastructure software franchise and deepen enterprise relationships. Yahoo Finance article
• Neutral Sentiment: Some analysts say competitors like Credo and Lumentum may have stronger near-term upside in data-center connectivity, which doesn’t weaken Broadcom’s thesis but could limit relative enthusiasm. Zacks article
• Negative Sentiment: Market commentary says Broadcom’s post-earnings decline was driven by cautious AI guidance and valuation concerns, suggesting investors are reassessing how much upside is already priced in. Yahoo Finance article

Broadcom Stock Down 4.4%

Shares of NASDAQ:AVGO opened at $376.71 on Wednesday. The firm has a fifty day moving average price of $407.09 and a 200 day moving average price of $363.14. Broadcom Inc. has a 1-year low of $244.17 and a 1-year high of $495.00. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.24 and a quick ratio of 2.01. The stock has a market cap of $1.79 trillion, a P/E ratio of 62.79, a P/E/G ratio of 0.69 and a beta of 1.41.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its quarterly earnings data on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $22.13 billion. During the same period last year, the firm posted $1.58 EPS. Broadcom's quarterly revenue was up 47.9% on a year-over-year basis. Sell-side analysts predict that Broadcom Inc. will post 10.24 EPS for the current year.

Broadcom Dividend Announcement

The company also recently disclosed 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. This represents a $2.60 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Monday, June 22nd. Broadcom's dividend payout ratio (DPR) is 43.33%.

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.

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