Aljian Capital Management LLC Increases Holdings in Broadcom Inc. $AVGO

Key Points

• Aljian Capital Management increased its Broadcom stake by 5.4% in the first quarter, adding 1,337 shares to bring its total to 26,146 shares valued at about $8.1 million.
• Broadcom continues to attract strong institutional interest, with 76.43% of shares held by institutions, while several other hedge funds also recently boosted their positions.
• The company’s recent fundamentals and outlook remain solid: Broadcom beat quarterly earnings and revenue estimates, paid a quarterly dividend of $0.65 per share, and analysts largely maintain a Buy stance despite some valuation concerns.

Aljian Capital Management LLC boosted its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 5.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,146 shares of the semiconductor manufacturer's stock after acquiring an additional 1,337 shares during the quarter. Broadcom accounts for 1.7% of Aljian Capital Management LLC's portfolio, making the stock its 9th largest position. Aljian Capital Management LLC's holdings in Broadcom were worth $8,093,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in AVGO. ROSS JOHNSON & Associates LLC raised its holdings in shares of Broadcom by 1,320.0% in the fourth quarter. ROSS JOHNSON & Associates LLC now owns 71 shares of the semiconductor manufacturer's stock valued at $25,000 after buying an additional 66 shares during the last quarter. SWAN Capital LLC grew its holdings in Broadcom by 261.9% during 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 during the last quarter. Networth Advisors LLC grew its holdings in Broadcom by 546.2% during the 1st quarter. Networth Advisors LLC now owns 84 shares of the semiconductor manufacturer's stock worth $26,000 after acquiring an additional 71 shares during the last quarter. Miller Global Investments LLC acquired a new stake in Broadcom in the 4th quarter valued at about $31,000. Finally, Nvest Wealth Strategies Inc. bought a new position in shares of Broadcom in the fourth quarter worth about $33,000. 76.43% of the stock is owned by institutional investors.

Key Broadcom News

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom’s expanded Apple agreement, valued at more than $30 billion through 2031, strengthens visibility for revenue and highlights demand beyond AI chips. Why Broadcom Stock Rose Today
• Positive Sentiment: Analysts remain upbeat on Broadcom’s AI business, with Jefferies reiterating a Buy rating and a $550 price target as AI chip momentum improves. Broadcom’s (AVGO) AI Chip Momentum Keeps Wall Street Bullish
• Positive Sentiment: Broadcom is being viewed as a broader AI infrastructure winner because its networking products help connect large-scale AI systems, expanding the investment thesis beyond GPUs and custom chips. Broadcom stock's latest catalyst targets Nvidia where it looks strongest
• Neutral Sentiment: Some coverage notes Broadcom’s near-$2 trillion market value and strong AI revenue growth, but also suggests much of the good news may already be reflected in the stock. Broadcom Is Less Than 5% From the $2 Trillion Club -- and Apple Just Committed $30 Billion for More Chips
• Negative Sentiment: Erste Group downgraded Broadcom to Hold, citing valuation concerns, which may be limiting upside after the recent rally. Erste Group downgrades Broadcom to Hold citing valuation concerns

Broadcom Trading Down 0.3%

NASDAQ AVGO traded down $1.14 during trading hours on Friday, hitting $399.97. The company's stock had a trading volume of 14,579,242 shares, compared to its average volume of 26,802,910. Broadcom Inc. has a twelve month low of $269.58 and a twelve month high of $495.00. The firm has a market capitalization of $1.90 trillion, a P/E ratio of 66.66, a PEG ratio of 0.70 and a beta of 1.45. 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 has a fifty day moving average of $405.29 and a 200 day moving average of $364.13.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 EPS for the quarter, topping analysts' consensus estimates of $2.40 by $0.04. The firm had revenue of $22.19 billion during the quarter, compared to analyst estimates of $22.13 billion. Broadcom had a net margin of 38.85% and a return on equity of 41.61%. The business's quarterly revenue was up 47.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.58 EPS. Equities research analysts forecast that Broadcom Inc. will post 10.24 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 22nd were issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date was Monday, June 22nd. Broadcom's dividend payout ratio is currently 43.33%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Rosenblatt Securities reiterated a "buy" rating and set a $500.00 target price on shares of Broadcom in a research report on Thursday, June 4th. Jefferies Financial Group set a $550.00 price objective on shares of Broadcom and gave the stock a "buy" rating in a research report on Thursday, June 4th. Wall Street Zen upgraded Broadcom from a "buy" rating to a "strong-buy" rating in a research report on Wednesday, July 1st. Oppenheimer reissued an "outperform" rating and issued a $535.00 target price (up from $450.00) on shares of Broadcom in a research note on Thursday, June 4th. Finally, Morgan Stanley set a $502.00 target price on Broadcom and gave the stock an "overweight" rating in a research report on Thursday, June 4th. One analyst has rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, Broadcom has an average rating of "Moderate Buy" and a consensus target price of $493.24.

Insider Buying and Selling

In other Broadcom news, insider Mark David Brazeal sold 25,000 shares of the firm's stock in a transaction dated Wednesday, July 8th. The stock was sold at an average price of $379.19, for a total transaction of $9,479,750.00. Following the transaction, the insider owned 219,989 shares in the company, valued at approximately $83,417,628.91. This trade represents a 10.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Harry L. You bought 1,000 shares of the firm's stock in a transaction dated Thursday, June 11th. The shares were bought at an average price of $373.57 per share, with a total value of $373,570.00. Following the completion of the transaction, the director directly owned 38,466 shares in the company, valued at approximately $14,369,743.62. This trade represents a 2.67% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders sold 36,644 shares of company stock worth $13,982,964. Corporate insiders own 1.90% of the company's stock.

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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