Blue Jean Financial LLC Buys New Stake in Broadcom Inc. $AVGO

Key Points

• Blue Jean Financial LLC opened a new position in Broadcom during the fourth quarter, buying 4,685 shares valued at about $1.62 million.
• Broadcom insiders sold stock recently, including CFO Kirsten M. Spears and insider Charlie B. Kawwas, with total insider sales over the past three months reaching $106.4 million.
• The company reported strong quarterly results, beating EPS estimates and posting revenue of $22.19 billion, while analysts remain broadly bullish with a consensus rating of Moderate Buy and an average price target of $490.13.

Blue Jean Financial LLC purchased a new position in Broadcom Inc. (NASDAQ:AVGO - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 4,685 shares of the semiconductor manufacturer's stock, valued at approximately $1,621,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Baring Financial LLC raised its holdings in shares of Broadcom by 2.2% in the fourth quarter. Baring Financial LLC now owns 1,359 shares of the semiconductor manufacturer's stock worth $470,000 after buying an additional 29 shares during the last quarter. Five Oceans Advisors raised its holdings in shares of Broadcom by 0.4% in the fourth quarter. Five Oceans Advisors now owns 8,191 shares of the semiconductor manufacturer's stock worth $2,835,000 after buying an additional 29 shares during the last quarter. Planning Alternatives Ltd. ADV raised its holdings in shares of Broadcom by 1.4% in the third quarter. Planning Alternatives Ltd. ADV now owns 2,168 shares of the semiconductor manufacturer's stock worth $715,000 after buying an additional 30 shares during the last quarter. Bell Investment Advisors Inc raised its holdings in shares of Broadcom by 1.9% in the third quarter. Bell Investment Advisors Inc now owns 1,638 shares of the semiconductor manufacturer's stock worth $540,000 after buying an additional 30 shares during the last quarter. Finally, Bare Financial Services Inc raised its holdings in shares of Broadcom by 11.6% in the third quarter. Bare Financial Services Inc now owns 299 shares of the semiconductor manufacturer's stock worth $99,000 after buying an additional 31 shares during the last quarter. Hedge funds and other institutional investors own 76.43% of the company's stock.

Insider Buying and Selling at Broadcom

In other Broadcom news, CFO Kirsten M. Spears sold 36,292 shares of Broadcom stock in a transaction 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 completion of the transaction, the chief financial officer owned 327,760 shares of the company's stock, valued at approximately $105,407,616. The trade was a 9.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Charlie B. Kawwas sold 39,116 shares of Broadcom stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $321.61, for a total transaction of $12,580,096.76. Following the completion of the transaction, the insider directly owned 74,626 shares of the company's stock, valued at $24,000,467.86. The trade was a 34.39% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 324,282 shares of company stock worth $106,425,249. 1.90% of the stock is currently owned by company insiders.

Broadcom Trading Down 0.9%

Shares of Broadcom stock opened at $382.07 on Friday. 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 fifty day moving average price of $404.26 and a 200 day moving average price of $363.33. Broadcom Inc. has a 1 year low of $244.17 and a 1 year high of $495.00. The stock has a market cap of $1.82 trillion, a PE ratio of 63.68, a price-to-earnings-growth ratio of 0.67 and a beta of 1.41.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.40 by $0.04. Broadcom had a net margin of 38.85% and a return on equity of 41.61%. The firm had revenue of $22.19 billion during the quarter, compared to analysts' expectations of $22.13 billion. During the same quarter last year, the company posted $1.58 earnings per share. The firm's revenue 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 year.

Broadcom Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors 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 dividend yield of 0.7%. The ex-dividend date of this dividend is Monday, June 22nd. Broadcom's dividend payout ratio (DPR) is 43.33%.

Broadcom News Summary

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

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Jefferies Financial Group set a $550.00 price target on shares of Broadcom and gave the stock a "buy" rating in a report on Thursday, June 4th. Morgan Stanley set a $502.00 price target on shares of Broadcom and gave the stock an "overweight" rating in a report on Thursday, June 4th. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $525.00 price target on shares of Broadcom in a report on Thursday, June 4th. UBS Group set a $485.00 price target on shares of Broadcom and gave the stock a "buy" rating in a report on Thursday, June 4th. Finally, Oppenheimer reaffirmed an "outperform" rating and issued a $535.00 price target (up from $450.00) on shares of Broadcom in a report on Thursday, June 4th. One equities 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. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price 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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