AlphaStar Capital Management LLC Has $12.71 Million Position in Broadcom Inc. $AVGO

Key Points

• AlphaStar Capital Management increased its Broadcom stake by 5.7% in the fourth quarter, ending with 36,734 shares valued at about $12.71 million. Broadcom now represents 0.9% of the firm’s portfolio and its 22nd-largest position.
• Broadcom’s latest quarterly results beat expectations, with earnings of $2.05 per share on revenue of $19.31 billion. Revenue rose 29.5% year over year, and analysts now expect full-year EPS of 9.95.
• The stock has drawn a mostly bullish analyst outlook, with an average rating of “Moderate Buy” and a price target of $435.30. However, the article also notes recent pressure tied to concerns that OpenAI’s planned $18 billion custom chip deal may face financing issues.

AlphaStar Capital Management LLC boosted its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 5.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,734 shares of the semiconductor manufacturer's stock after acquiring an additional 1,984 shares during the quarter. Broadcom accounts for 0.9% of AlphaStar Capital Management LLC's portfolio, making the stock its 22nd largest position. AlphaStar Capital Management LLC's holdings in Broadcom were worth $12,714,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. Providence First Trust Co increased its holdings in shares of Broadcom by 1,099.3% during the 3rd quarter. Providence First Trust Co now owns 8,923 shares of the semiconductor manufacturer's stock worth $2,944,000 after acquiring an additional 8,179 shares during the last quarter. Whittier Trust Co. of Nevada Inc. lifted its holdings in Broadcom by 3.4% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 323,587 shares of the semiconductor manufacturer's stock worth $109,492,000 after purchasing an additional 10,786 shares during the last quarter. Lmcg Investments LLC grew its holdings in Broadcom by 9.4% in the 3rd quarter. Lmcg Investments LLC now owns 38,961 shares of the semiconductor manufacturer's stock valued at $12,854,000 after buying an additional 3,357 shares in the last quarter. Wright Investors Service Inc. grew its holdings in Broadcom by 5.4% in the 3rd quarter. Wright Investors Service Inc. now owns 42,159 shares of the semiconductor manufacturer's stock valued at $13,909,000 after buying an additional 2,178 shares in the last quarter. Finally, Brown Brothers Harriman & Co. grew its holdings in Broadcom by 10.7% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 77,411 shares of the semiconductor manufacturer's stock valued at $25,539,000 after buying an additional 7,499 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Broadcom Price Performance

Shares of AVGO stock opened at $430.00 on Monday. The company has a quick ratio of 1.73, a current ratio of 1.90 and a debt-to-equity ratio of 0.80. Broadcom Inc. has a twelve month low of $206.52 and a twelve month high of $437.68. The company has a market cap of $2.04 trillion, a P/E ratio of 83.98, a P/E/G ratio of 0.89 and a beta of 1.43. The business has a fifty day simple moving average of $352.89 and a 200 day simple moving average of $351.28.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its quarterly earnings data on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 earnings per share for the quarter, topping the consensus estimate of $2.03 by $0.02. The business had revenue of $19.31 billion during the quarter, compared to the consensus estimate of $19.10 billion. Broadcom had a return on equity of 38.61% and a net margin of 36.57%.Broadcom's revenue for the quarter was up 29.5% on a year-over-year basis. During the same period in the prior year, the company earned $1.60 EPS. On average, sell-side analysts forecast that Broadcom Inc. will post 9.95 EPS for the current fiscal year.

Broadcom Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Monday, March 23rd were given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date was Monday, March 23rd. Broadcom's dividend payout ratio (DPR) is 50.78%.

Analyst Ratings Changes

A number of brokerages have commented on AVGO. Rosenblatt Securities reaffirmed a "buy" rating and issued a $500.00 price objective on shares of Broadcom in a report on Tuesday, April 7th. Wolfe Research raised Broadcom from a "peer perform" rating to an "outperform" rating and set a $400.00 price objective on the stock in a report on Friday, January 30th. JPMorgan Chase & Co. upped their price objective on Broadcom from $475.00 to $500.00 and gave the company an "overweight" rating in a report on Thursday, March 5th. Benchmark reaffirmed a "buy" rating and issued a $485.00 price objective on shares of Broadcom in a report on Thursday, March 5th. Finally, Royal Bank Of Canada decreased their price objective on Broadcom from $370.00 to $340.00 and set a "sector perform" rating on the stock in a report on Monday, March 2nd. Two investment analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $435.30.

Broadcom News Roundup

Here are the key news stories impacting Broadcom this week:

• Negative Sentiment: Broadcom shares are under pressure after reports said OpenAI’s planned $18 billion custom chip deal with the company hit a financing roadblock, creating uncertainty around a key AI revenue driver. Broadcom shares slump as OpenAI’s $18B custom chip deal hits financing snag
• Negative Sentiment: Another report framed the OpenAI issue as a major setback for Broadcom’s custom AI chip ambitions, adding concern that one of its flagship customer relationships may not be as immediately monetizable as investors hoped. Broadcom's OpenAI mega AI deal hits $18 billion wall
• Neutral Sentiment: Broadcom also announced VMware by Broadcom VCF 9.1, a product update aimed at accelerating production AI workloads in private clouds, which supports the company’s long-term enterprise AI strategy. Broadcom (AVGO) Launches VCF 9.1 to Accelerate Production AI in Private Clouds
• Neutral Sentiment: Several commentary pieces remained constructive on Broadcom’s position in the AI infrastructure stack, noting that recent hyperscaler results still support demand for chips and networking tied to AI buildouts. Big Tech earnings support Broadcom’s outlook
• Neutral Sentiment: Broadcom was also mentioned in a public-sector VMware partnership update, which could help broaden enterprise distribution but is not likely the main driver of the stock today. evoila U.S. and Carahsoft Partner to Deliver VMware by Broadcom Services to the Public Sector

Insider Buying and Selling

In other news, insider Mark David Brazeal sold 50,488 shares of the firm's stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $321.60, for a total transaction of $16,236,940.80. Following the completion of the transaction, the insider directly owned 278,141 shares in the company, valued at $89,450,145.60. This trade represents a 15.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Charlie B. Kawwas sold 39,116 shares of the firm's stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $321.61, for a total value of $12,580,096.76. Following the transaction, the insider owned 74,626 shares of the company's stock, valued at $24,000,467.86. This trade represents a 34.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 324,282 shares of company stock valued at $106,425,249 over the last three months. 1.90% of the stock is owned by insiders.

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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