ATX Financial Planning LLC Acquires New Shares in Broadcom Inc. $AVGO

Key Points

• ATX Financial Planning LLC disclosed a new stake in Broadcom, buying 3,067 shares worth about $1.06 million in the fourth quarter. The filing also showed Broadcom remains widely held by institutions, with roughly 76.43% of shares owned by institutional investors.
• Broadcom reported stronger-than-expected quarterly results, posting $2.44 EPS versus the $2.40 estimate and revenue of $22.19 billion, up 47.9% year over year. Analysts expect the company to earn $10.24 EPS for the current fiscal year.
• Wall Street remains broadly positive on AVGO, with several firms raising price targets and maintaining buy/outperform ratings; the consensus target is about $490.13. Broadcom also announced a quarterly dividend of $0.65 per share, payable June 30, for an annualized yield of about 0.6%.

ATX Financial Planning LLC purchased a new stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 3,067 shares of the semiconductor manufacturer's stock, valued at approximately $1,061,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. ROSS JOHNSON & Associates LLC increased its stake in shares of Broadcom by 1,320.0% during the fourth quarter. ROSS JOHNSON & Associates LLC now owns 71 shares of the semiconductor manufacturer's stock valued at $25,000 after acquiring an additional 66 shares during the period. SWAN Capital LLC lifted its position in Broadcom by 261.9% in the fourth quarter. SWAN Capital LLC now owns 76 shares of the semiconductor manufacturer's stock worth $26,000 after purchasing an additional 55 shares during the period. Miller Global Investments LLC acquired a new stake in Broadcom in the fourth quarter worth approximately $31,000. Nvest Wealth Strategies Inc. bought a new position in Broadcom during the 4th quarter valued at $33,000. Finally, Family CFO Inc bought a new position in Broadcom during the 4th quarter valued at $35,000. 76.43% of the stock is owned by institutional investors.

Broadcom Price Performance

NASDAQ AVGO opened at $411.35 on Friday. The company has a 50 day simple moving average of $410.21 and a 200-day simple moving average of $363.17. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.24 and a quick ratio of 2.01. The firm has a market capitalization of $1.96 trillion, a price-to-earnings ratio of 68.56, a price-to-earnings-growth ratio of 0.69 and a beta of 1.41. Broadcom Inc. has a 52-week low of $244.17 and a 52-week 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 for the quarter, topping analysts' consensus estimates of $2.40 by $0.04. Broadcom had a net margin of 38.85% and a return on equity of 41.61%. The business had revenue of $22.19 billion for the quarter, compared to the consensus estimate of $22.13 billion. During the same period in the prior year, the business posted $1.58 earnings per share. Broadcom's revenue for the quarter was up 47.9% compared to the same quarter last year. Equities research analysts predict that Broadcom Inc. will post 10.24 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 22nd will be issued a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 0.6%. The ex-dividend date is Monday, June 22nd. Broadcom's dividend payout ratio (DPR) is 43.33%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. The Goldman Sachs Group reissued a "buy" rating and issued a $525.00 price objective on shares of Broadcom in a research note on Thursday, June 4th. Mizuho raised their target price on Broadcom from $480.00 to $530.00 and gave the company an "outperform" rating in a research note on Thursday, June 4th. Oppenheimer reaffirmed an "outperform" rating and set a $535.00 target price (up from $450.00) on shares of Broadcom in a report on Thursday, June 4th. Bank of America boosted their price target on shares of Broadcom from $450.00 to $530.00 and gave the stock a "buy" rating in a research report on Thursday, June 4th. Finally, Zacks Research downgraded shares of Broadcom from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 21st. One equities research analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $490.13.

Insider Buying and Selling

In related news, Director Justine Page sold 2,018 shares of Broadcom stock in a transaction on Wednesday, April 8th. The shares were sold at an average price of $353.00, for a total value of $712,354.00. Following the transaction, the director owned 18,164 shares in the company, valued at $6,411,892. This trade represents a 10.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider S. Ram Velaga sold 17,260 shares of Broadcom stock in a transaction dated Thursday, April 9th. The stock was sold at an average price of $352.12, for a total value of $6,077,591.20. Following the completion of the transaction, the insider owned 65,932 shares in the company, valued at $23,215,975.84. The trade was a 20.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 59,385 shares of company stock valued at $21,301,057. 1.90% of the stock is owned by corporate insiders.

Key Headlines Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom expanded its cash tender offers for outstanding debt to $3 billion from $2.5 billion after strong investor demand, which can be viewed as a sign of balance-sheet management and helped lift sentiment toward the stock. Broadcom Inc. Announces Results and Upsize of Offers to Purchase for Cash Certain of its Outstanding Debt Securities
• Positive Sentiment: JPMorgan reiterated a bullish view, saying investors should be “aggressive buyers” and arguing the market is underestimating Broadcom’s long-term AI opportunity, reinforcing the rally in AVGO. AVGO stock jumps — JPMorgan says investors should be 'aggressive buyers' of Broadcom at current levels
• Positive Sentiment: Citi also highlighted Broadcom as a top chip stock on soaring data-center demand, adding to optimism around AI-driven revenue growth. Citi Touts Broadcom Inc. (AVGO) as a Top Chip Stock on Soaring Data Center Demand
• Neutral Sentiment: Insider Mark David Brazeal sold shares in two June transactions totaling more than 8,100 shares. The sales are notable, but they represent relatively small reductions in a large personal holding and do not necessarily signal a change in the company’s outlook. Mark David Brazeal insider trading page

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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