Free Trial

Allium Financial Advisors LLC Takes $625,000 Position in Broadcom Inc. (NASDAQ:AVGO)

Broadcom logo with Computer and Technology background

Key Points

  • Allium Financial Advisors LLC acquired a new position in Broadcom Inc., purchasing 3,734 shares valued at approximately $625,000, which constitutes 0.6% of their portfolio.
  • Broadcom recently reported earnings of $1.58 per share for the quarter, surpassing analyst estimates by $0.01, with total revenue reaching $15 billion.
  • The company's Board of Directors has initiated a $10 billion share buyback program, indicating confidence in the stock's valuation.
  • Interested in Broadcom? Here are five stocks we like better.

Allium Financial Advisors LLC acquired a new position in Broadcom Inc. (NASDAQ:AVGO - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 3,734 shares of the semiconductor manufacturer's stock, valued at approximately $625,000. Broadcom comprises about 0.6% of Allium Financial Advisors LLC's investment portfolio, making the stock its 29th largest holding.

Several other institutional investors have also added to or reduced their stakes in AVGO. Geode Capital Management LLC raised its stake in shares of Broadcom by 3.0% during the fourth quarter. Geode Capital Management LLC now owns 102,207,120 shares of the semiconductor manufacturer's stock valued at $23,647,209,000 after acquiring an additional 3,018,294 shares in the last quarter. FMR LLC grew its holdings in Broadcom by 3.2% in the fourth quarter. FMR LLC now owns 93,274,317 shares of the semiconductor manufacturer's stock worth $21,624,718,000 after purchasing an additional 2,873,809 shares during the last quarter. Northern Trust Corp grew its holdings in Broadcom by 12.0% in the fourth quarter. Northern Trust Corp now owns 49,087,351 shares of the semiconductor manufacturer's stock worth $11,380,411,000 after purchasing an additional 5,258,925 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Broadcom by 46.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 47,524,533 shares of the semiconductor manufacturer's stock worth $11,018,089,000 after purchasing an additional 15,171,849 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Broadcom by 1.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 34,401,379 shares of the semiconductor manufacturer's stock worth $7,975,616,000 after purchasing an additional 581,704 shares during the last quarter. Institutional investors own 76.43% of the company's stock.

Insiders Place Their Bets

In other news, Director Justine Page sold 800 shares of the firm's stock in a transaction on Monday, July 14th. The shares were sold at an average price of $274.30, for a total value of $219,440.00. Following the sale, the director directly owned 24,582 shares in the company, valued at approximately $6,742,842.60. This trade represents a 3.15% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Hock E. Tan sold 40,000 shares of the firm's stock in a transaction on Thursday, June 26th. The shares were sold at an average price of $268.29, for a total transaction of $10,731,600.00. Following the completion of the sale, the chief executive officer owned 482,836 shares in the company, valued at $129,540,070.44. The trade was a 7.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 830,516 shares of company stock worth $217,224,641. 2.00% of the stock is currently owned by insiders.

Broadcom Stock Up 0.9%

Broadcom stock traded up $2.57 during mid-day trading on Tuesday, reaching $296.87. 9,742,510 shares of the company's stock were exchanged, compared to its average volume of 26,937,945. The company has a market cap of $1.40 trillion, a P/E ratio of 111.20, a P/E/G ratio of 2.06 and a beta of 1.12. Broadcom Inc. has a twelve month low of $128.50 and a twelve month high of $302.19. The company has a quick ratio of 0.98, a current ratio of 1.08 and a debt-to-equity ratio of 0.89. The company has a fifty day moving average of $261.32 and a 200-day moving average of $222.57.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.57 by $0.01. The company had revenue of $15 billion for the quarter, compared to analyst estimates of $14.98 billion. Broadcom had a net margin of 22.64% and a return on equity of 35.49%. The firm's quarterly revenue was up 20.2% on a year-over-year basis. During the same period in the prior year, the business earned $10.96 EPS. Sell-side analysts expect that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom declared that its Board of Directors has initiated a stock buyback program on Monday, April 7th that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the semiconductor manufacturer to repurchase up to 1.4% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board believes its stock is undervalued.

Broadcom Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 20th were issued a $0.59 dividend. The ex-dividend date of this dividend was Friday, June 20th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.79%. Broadcom's payout ratio is 88.39%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on AVGO. Rosenblatt Securities boosted their price objective on shares of Broadcom from $223.00 to $340.00 and gave the company a "buy" rating in a report on Friday, June 6th. JPMorgan Chase & Co. boosted their price objective on shares of Broadcom from $250.00 to $325.00 and gave the company an "overweight" rating in a report on Friday, June 6th. Morgan Stanley boosted their price objective on shares of Broadcom from $260.00 to $270.00 and gave the company an "overweight" rating in a report on Friday, June 6th. UBS Group boosted their price objective on shares of Broadcom from $270.00 to $290.00 and gave the company a "buy" rating in a report on Friday, June 6th. Finally, Evercore ISI reaffirmed an "outperform" rating and issued a $304.00 price target (up from $267.00) on shares of Broadcom in a report on Friday, June 6th. One equities research analyst has rated the stock with a hold rating, twenty-seven have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $292.08.

View Our Latest Stock Analysis on Broadcom

Broadcom Profile

(Free Report)

Broadcom Inc designs, develops, and supplies various semiconductor devices with a focus on complex digital and mixed signal complementary metal oxide semiconductor based devices and analog III-V based products worldwide. The company operates in two segments, Semiconductor Solutions and Infrastructure Software.

Recommended Stories

Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

Should You Invest $1,000 in Broadcom Right Now?

Before you consider Broadcom, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Broadcom wasn't on the list.

While Broadcom currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

 The Best Nuclear Energy Stocks to Buy Cover

Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

Recent Videos

5 Stocks to BUY NOW in August 2025
The $2.5B Merger No One Is Talking About
ALERT: Big Tech Earnings – Watch Before Wednesday

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines