Angeles Wealth Management LLC Raises Position in Broadcom Inc. $AVGO

Angeles Wealth Management LLC grew its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 9.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 42,884 shares of the semiconductor manufacturer's stock after purchasing an additional 3,607 shares during the period. Broadcom makes up about 0.7% of Angeles Wealth Management LLC's portfolio, making the stock its 24th biggest position. Angeles Wealth Management LLC's holdings in Broadcom were worth $13,273,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of AVGO. ROSS JOHNSON & Associates LLC boosted its stake in Broadcom by 1,320.0% during the fourth quarter. ROSS JOHNSON & Associates LLC now owns 71 shares of the semiconductor manufacturer's stock worth $25,000 after buying an additional 66 shares during the period. Networth Advisors LLC lifted its holdings in shares of Broadcom by 546.2% in 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. SWAN Capital LLC lifted its holdings in shares of Broadcom by 261.9% in 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. Nvest Wealth Strategies Inc. purchased a new position in shares of Broadcom during the 4th quarter worth about $33,000. Finally, Family CFO Inc purchased a new position in shares of Broadcom during the 4th quarter worth about $35,000. Hedge funds and other institutional investors own 76.43% of the company's stock.

Broadcom Trading Up 2.0%

Shares of NASDAQ AVGO opened at $378.16 on Tuesday. 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 business has a fifty day simple moving average of $400.28 and a two-hundred day simple moving average of $365.62. The firm has a market cap of $1.80 trillion, a PE ratio of 63.03, a price-to-earnings-growth ratio of 0.65 and a beta of 1.45. Broadcom Inc. has a twelve month low of $273.00 and a twelve month high of $495.00.

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

Broadcom Dividend Announcement

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

Analyst Upgrades and Downgrades

AVGO has been the topic of a number of recent analyst reports. Wells Fargo & Company reissued an "overweight" rating and issued a $545.00 price objective (up from $430.00) on shares of Broadcom in a research report on Thursday, May 14th. JPMorgan Chase & Co. upped their target price on Broadcom from $500.00 to $580.00 and gave the company an "overweight" rating in a research note on Thursday, June 4th. Bank of America increased their price target on Broadcom from $450.00 to $530.00 and gave the stock a "buy" rating in a report on Thursday, June 4th. Royal Bank Of Canada raised their price target on Broadcom from $360.00 to $400.00 and gave the stock a "sector perform" rating in a research note on Thursday, June 4th. Finally, Oppenheimer restated an "outperform" rating and set a $535.00 price objective (up from $450.00) on shares of Broadcom in a report on Thursday, June 4th. One investment 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 stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $493.24.

More Broadcom News

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Morgan Stanley said Broadcom remains one of its preferred ways to play the AI infrastructure buildout, calling AVGO an attractive risk-reward name after the recent semiconductor pullback. Broadcom stock gains 2% today: here's why
• Positive Sentiment: Analysts and market commentary highlighted Broadcom as a high-cash-flow AI chip stock that could benefit as investors look for quality names amid market volatility. 4 High Cash-Producing AI Chip Stocks to Buy Amid Market Uncertainties
• Positive Sentiment: Broadcom’s AI business is being viewed as a key driver of the investment case, with reports noting strong AI chip revenue growth and a larger shift toward AI-related mix. AMD vs. Broadcom: The Better AI-Chip Stock to Buy After the Sell-Off
• Positive Sentiment: Broadcom also announced a major infrastructure software deal with Standard Chartered to modernize banking cloud operations across 54 markets, which supports its VMware-based software revenue stream. Broadcom (AVGO) Lands Standard Chartered Deal To Power Banking Cloud In 54 Markets
• Neutral Sentiment: Broadcom was included in broader “buy the dip” chip-sector commentary as investors looked for value after the recent memory and AI semiconductor sell-off. The Memory Stock Sell-Off Created a ‘Strong Entry Point,' Says Morgan Stanley. Investors Are Buying In.
• Negative Sentiment: Recent articles also noted that semiconductor stocks had fallen into a bear market after a sharp index decline, reflecting ongoing sectorwide pressure that could cap gains for AVGO. Semiconductor stocks enter bear market: Is bubble burst next?

Insider Buying and Selling at Broadcom

In other Broadcom news, Director Harry L. You bought 1,000 shares of the business's stock in a transaction on Thursday, June 11th. The shares were acquired at an average price of $373.57 per share, with a total value of $373,570.00. Following the transaction, the director owned 38,466 shares of the company's stock, valued at approximately $14,369,743.62. This trade represents a 2.67% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Gayla J. Delly sold 1,890 shares of the firm's stock in a transaction dated Wednesday, July 8th. The shares were sold at an average price of $385.38, for a total transaction of $728,368.20. Following the transaction, the director directly owned 31,326 shares in the company, valued at $12,072,413.88. This trade represents a 5.69% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 61,644 shares of company stock valued at $24,016,214 in the last 90 days. Insiders own 1.90% of the company's stock.

Broadcom Company 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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