Atalanta Sosnoff Capital LLC Sells 20,695 Shares of Broadcom Inc. $AVGO

Atalanta Sosnoff Capital LLC trimmed its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 3.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 561,328 shares of the semiconductor manufacturer's stock after selling 20,695 shares during the period. Broadcom makes up 3.8% of Atalanta Sosnoff Capital LLC's investment portfolio, making the stock its 8th largest holding. Atalanta Sosnoff Capital LLC's holdings in Broadcom were worth $194,276,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Tillman Hartley LLC boosted its holdings in shares of Broadcom by 32.2% during the 4th quarter. Tillman Hartley LLC now owns 2,729 shares of the semiconductor manufacturer's stock worth $945,000 after buying an additional 664 shares in the last quarter. Columbia Bank boosted its holdings in shares of Broadcom by 5.1% during the 4th quarter. Columbia Bank now owns 5,782 shares of the semiconductor manufacturer's stock worth $2,001,000 after buying an additional 280 shares in the last quarter. Allianz SE boosted its holdings in shares of Broadcom by 0.3% during the 4th quarter. Allianz SE now owns 171,040 shares of the semiconductor manufacturer's stock worth $59,197,000 after buying an additional 563 shares in the last quarter. Gerber Kawasaki Wealth & Investment Management boosted its holdings in shares of Broadcom by 23.3% during the 4th quarter. Gerber Kawasaki Wealth & Investment Management now owns 54,191 shares of the semiconductor manufacturer's stock worth $18,775,000 after buying an additional 10,257 shares in the last quarter. Finally, SVRN Asset Management LLC bought a new position in shares of Broadcom during the 4th quarter worth approximately $1,876,000. 76.43% of the stock is currently owned by institutional investors.

Broadcom Stock Performance

Shares of NASDAQ AVGO opened at $382.07 on Friday. 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 stock's 50-day moving average is $404.26 and its 200 day moving average is $363.33. The stock has a market cap of $1.82 trillion, a price-to-earnings ratio of 63.68, a P/E/G ratio of 0.68 and a beta of 1.41. Broadcom Inc. has a 1-year low of $244.17 and a 1-year high of $495.00.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its quarterly 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 business had revenue of $22.19 billion for the quarter, compared to analysts' expectations of $22.13 billion. Broadcom had a return on equity of 41.61% and a net margin of 38.85%.The business's quarterly revenue was up 47.9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.58 EPS. On average, sell-side analysts anticipate that Broadcom Inc. will post 10.24 EPS for the current fiscal year.

Broadcom Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 22nd will be given a dividend of $0.65 per share. The ex-dividend date is Monday, June 22nd. This represents a $2.60 annualized dividend and a dividend yield of 0.7%. Broadcom's payout ratio is currently 43.33%.

Key Headlines Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom’s quarterly results were very strong, with revenue up 48% to a record $22.2 billion, semiconductor revenue up 79%, AI semiconductor revenue up 143% to $10.8 billion, and more than $30 billion in AI bookings, suggesting demand remains robust. Article Title
• Positive Sentiment: Several analysts and commentators argue the recent drop could be a buying opportunity, saying Broadcom remains a core infrastructure winner in AI and that Wall Street’s long-term outlook is still constructive. Article Title
• Positive Sentiment: Fresh coverage highlighted Broadcom as one of the stocks with catalysts heading into the second half of the year, and some analysts have raised earnings forecasts and price targets despite the selloff. Article Title
• Neutral Sentiment: Jim Cramer said Broadcom’s earnings were “not good” and suggested tech stocks are harder to trust as leadership names, reflecting a more cautious market mood around the stock. Article Title
• Neutral Sentiment: Broadcom also announced cash tender offers for certain outstanding debt securities, a routine balance-sheet move that is unlikely to move the stock by itself. Article Title
• Negative Sentiment: Market commentary says the stock is being punished because investors are nitpicking Broadcom’s AI outlook and pricing the shares as if growth must keep accelerating without any hiccups. Article Title
• Negative Sentiment: One note warned that Broadcom told investors to expect gross profit margins to continue falling, reinforcing concerns that profitability may soften even as revenue grows. Article Title

Insider Activity at Broadcom

In related news, Director Gayla J. Delly sold 1,000 shares of Broadcom stock in a transaction that occurred on Thursday, April 9th. The stock was sold at an average price of $358.31, for a total transaction of $358,310.00. Following the sale, the director directly owned 32,352 shares in the company, valued at $11,592,045.12. The trade was a 3.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider S. Ram Velaga sold 8,000 shares of Broadcom stock in a transaction that occurred on Friday, April 10th. The shares were sold at an average price of $370.52, for a total value of $2,964,160.00. Following the sale, the insider owned 57,932 shares in the company, valued at $21,464,964.64. This represents a 12.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 324,282 shares of company stock valued at $106,425,249 over the last ninety days. Insiders own 1.90% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on AVGO shares. JPMorgan Chase & Co. increased their price target on Broadcom from $500.00 to $580.00 and gave the stock an "overweight" rating in a report on Thursday, June 4th. Truist Financial increased their price target on Broadcom from $545.00 to $550.00 and gave the stock a "buy" rating in a report on Thursday, June 4th. Cantor Fitzgerald reissued an "overweight" rating and issued a $525.00 price target on shares of Broadcom in a research report on Thursday, June 4th. Rosenblatt Securities reissued a "buy" rating and issued a $500.00 price target on shares of Broadcom in a research report on Thursday, June 4th. Finally, Mizuho increased their price target on Broadcom from $480.00 to $530.00 and gave the company an "outperform" rating in a research report on Thursday, June 4th. One research analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $490.13.

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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