BIT Capital GmbH Increases Stock Holdings in Broadcom Inc. $AVGO

Key Points

• BIT Capital GmbH increased its Broadcom stake by 199.1% in the fourth quarter, buying 25,620 additional shares and bringing its total to 38,485 shares valued at about $13.3 million.
• Broadcom reported strong quarterly results, with EPS of $2.44 topping estimates and revenue of $22.19 billion, up 47.9% from a year ago.
• The company also announced a quarterly dividend of $0.65 per share, while analysts remain broadly positive, with several raising price targets and the consensus rating still at Moderate Buy.

BIT Capital GmbH lifted its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 199.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 38,485 shares of the semiconductor manufacturer's stock after buying an additional 25,620 shares during the quarter. BIT Capital GmbH's holdings in Broadcom were worth $13,320,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Miller Global Investments LLC acquired a new stake in Broadcom during the 4th quarter valued at approximately $31,000. Nvest Wealth Strategies Inc. acquired a new stake in Broadcom during the 4th quarter valued at approximately $33,000. Family CFO Inc acquired a new stake in Broadcom during the 4th quarter valued at approximately $35,000. PayPay Securities Corp grew its stake in Broadcom by 88.9% during the 4th quarter. PayPay Securities Corp now owns 119 shares of the semiconductor manufacturer's stock valued at $41,000 after purchasing an additional 56 shares in the last quarter. Finally, Camelot Portfolios LLC acquired a new stake in Broadcom during the 4th quarter valued at approximately $45,000. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Broadcom Trading Up 2.8%

NASDAQ:AVGO opened at $396.60 on Tuesday. Broadcom Inc. has a 12-month low of $241.11 and a 12-month high of $495.00. The firm has a market capitalization of $1.88 trillion, a P/E ratio of 66.10, a P/E/G ratio of 0.70 and a beta of 1.41. 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 business has a 50 day simple moving average of $397.96 and a 200 day simple moving average of $362.43.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its quarterly earnings data on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.40 by $0.04. Broadcom had a return on equity of 41.61% and a net margin of 38.85%.The business had revenue of $22.19 billion during the quarter, compared to analyst estimates of $22.13 billion. During the same quarter in the previous year, the firm posted $1.58 EPS. The business'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 9.97 EPS for the current year.

Broadcom Dividend Announcement

The business also recently disclosed 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 dividend on an annualized basis and a yield of 0.7%. Broadcom's payout ratio is currently 43.33%.

Insider Buying and Selling

In related news, insider Mark David Brazeal sold 50,488 shares of the business's stock in a transaction that occurred on 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 owned 278,141 shares in the company, valued at $89,450,145.60. The trade was a 15.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Kirsten M. Spears sold 36,292 shares of the business's stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $321.60, for a total value of $11,671,507.20. Following the transaction, the chief financial officer owned 327,760 shares of the company's stock, valued at $105,407,616. This represents a 9.97% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 324,282 shares of company stock worth $106,425,249. 1.90% of the stock is owned by company insiders.

Trending Headlines about Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom announced expanded security investments for the Spring and Java ecosystem, aiming to help enterprise customers defend against AI-enabled threats and reinforcing its software strategy. Broadcom Expands Its Investment in Spring and Java Ecosystem Security to Prepare Customers for AI-Enabled Threats
• Positive Sentiment: Several analysts and market commentators said the recent post-earnings decline may be exaggerated, arguing that Broadcom’s strong revenue growth and AI momentum still support the long-term story. Jim Cramer on Broadcom: “The Disappointing Earnings May Not Be as Crushing as We Think”
• Positive Sentiment: Wall Street sentiment remains constructive, with Bank of America raising its price target on Broadcom to $530 from $450 while keeping a Buy rating after the latest quarterly results and guidance. Is Broadcom (AVGO) the Best Stock in Chase Coleman’s Tiger Global?

Analyst Upgrades and Downgrades

AVGO has been the subject of a number of recent analyst reports. Evercore restated an "outperform" rating and set a $582.00 price objective on shares of Broadcom in a research note on Tuesday, May 19th. Royal Bank Of Canada raised their price objective on Broadcom from $360.00 to $400.00 and gave the company a "sector perform" rating in a research note on Thursday, June 4th. Mizuho raised their price objective on Broadcom from $480.00 to $530.00 and gave the company an "outperform" rating in a research note on Thursday, June 4th. Truist Financial raised their price objective on Broadcom from $545.00 to $550.00 and gave the company a "buy" rating in a research note on Thursday, June 4th. Finally, JPMorgan Chase & Co. raised their price objective on Broadcom from $500.00 to $580.00 and gave the company an "overweight" rating in a research note on Thursday, June 4th. One research analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $490.13.

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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