Advisortrust Partners LLC Takes $15.23 Million Position in Broadcom Inc. $AVGO

Key Points

• Advisortrust Partners LLC initiated a new position in Broadcom during the fourth quarter, buying 44,000 shares worth about $15.23 million. The stake makes Broadcom its second-largest holding and about 6.7% of the portfolio.
• Broadcom continues to attract strong institutional and analyst support, with several firms raising price targets and Wall Street consensus standing at a Moderate Buy with an average target of $490.13. Recent commentary has also been bullish on AI-driven demand and data-center growth.
• The company reported better-than-expected quarterly results, including EPS of $2.44 and revenue of $22.19 billion, up 47.9% from a year earlier. Broadcom also announced a quarterly dividend of $0.65 per share, payable June 30.

Advisortrust Partners LLC bought a new stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 44,000 shares of the semiconductor manufacturer's stock, valued at approximately $15,228,000. Broadcom comprises 6.7% of Advisortrust Partners LLC's portfolio, making the stock its 2nd biggest position.

Several other institutional investors and hedge funds have also bought and sold shares of AVGO. Brown Brothers Harriman & Co. grew its position in Broadcom by 10.7% during the third quarter. Brown Brothers Harriman & Co. now owns 77,411 shares of the semiconductor manufacturer's stock worth $25,539,000 after buying an additional 7,499 shares in the last quarter. Dana Investment Advisors Inc. grew its holdings in shares of Broadcom by 2.6% during the 3rd quarter. Dana Investment Advisors Inc. now owns 173,759 shares of the semiconductor manufacturer's stock worth $57,325,000 after purchasing an additional 4,442 shares in the last quarter. Sovran Advisors LLC grew its holdings in shares of Broadcom by 121.3% during the 4th quarter. Sovran Advisors LLC now owns 30,631 shares of the semiconductor manufacturer's stock worth $10,507,000 after purchasing an additional 16,789 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. increased its position in shares of Broadcom by 406.1% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 11,994 shares of the semiconductor manufacturer's stock worth $4,151,000 after purchasing an additional 9,624 shares during the period. Finally, Siligmueller & Norvid Wealth Advisors LLC bought a new position in shares of Broadcom in the third quarter worth $762,000. Institutional investors own 76.43% of the company's stock.

Insider Buying and Selling

In related news, Director Gayla J. Delly sold 1,000 shares of the 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 represents a 3.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Charlie B. Kawwas sold 10,000 shares of the firm's stock in a transaction on Wednesday, April 8th. The stock was 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 of the company's stock, valued at approximately $271,759,532.32. This represents a 1.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 59,385 shares of company stock valued at $21,301,057 over the last quarter. 1.90% of the stock is currently owned by company insiders.

Key Stories Impacting 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 Upgrades and Downgrades

AVGO has been the topic of a number of analyst reports. DA Davidson increased their price objective on shares of Broadcom from $375.00 to $400.00 and gave the stock a "neutral" rating in a research note on Thursday, June 4th. Erste Group Bank upgraded shares of Broadcom from a "hold" rating to a "buy" rating in a research report on Friday, June 5th. KeyCorp reaffirmed an "overweight" rating and set a $575.00 price target (up from $500.00) on shares of Broadcom in a report on Thursday, June 4th. The Goldman Sachs Group reiterated a "buy" rating and set a $525.00 price target on shares of Broadcom in a research report on Thursday, June 4th. Finally, Benchmark boosted their price objective on shares of Broadcom from $485.00 to $545.00 and gave the company a "buy" rating in a research report on Thursday, June 4th. 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. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $490.13.

Broadcom Price Performance

Broadcom stock opened at $411.35 on Monday. The company has a current ratio of 2.24, a quick ratio of 2.01 and a debt-to-equity ratio of 0.71. The company has a market capitalization of $1.96 trillion, a PE ratio of 68.56, a P/E/G ratio of 0.72 and a beta of 1.41. Broadcom Inc. has a 12 month low of $244.17 and a 12 month high of $495.00. The stock has a 50-day moving average price of $411.42 and a two-hundred day moving average price of $363.34.

Broadcom (NASDAQ:AVGO - Get Free Report) last released 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 company had revenue of $22.19 billion for the quarter, compared to analysts' expectations of $22.13 billion. During the same period in the previous year, the business posted $1.58 earnings per share. The business's quarterly revenue was up 47.9% compared to the same quarter last year. Analysts expect that Broadcom Inc. will post 10.24 EPS for the current year.

Broadcom Announces Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend is Monday, June 22nd. This represents a $2.60 annualized dividend and a dividend yield of 0.6%. Broadcom's payout ratio is currently 43.33%.

Broadcom 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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