Bogart Wealth LLC Purchases 36,465 Shares of Broadcom Inc. $AVGO

Key Points

• Bogart Wealth LLC more than doubled its Broadcom stake in the first quarter, buying 36,465 additional shares for a total of 70,682 shares worth about $21.9 million. Broadcom now makes up 0.8% of the firm’s portfolio.
• Broadcom is seeing continued institutional support, with several other large investors also increasing holdings and institutional ownership now at 76.43% of the stock.
• Recent catalysts remain mixed but mostly positive: Apple’s reported multiyear chip deal and bullish AI-chip commentary have supported sentiment, while Broadcom also posted better-than-expected quarterly earnings and revenue and pays a quarterly dividend of $0.65 per share.

Bogart Wealth LLC boosted its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 106.6% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 70,682 shares of the semiconductor manufacturer's stock after purchasing an additional 36,465 shares during the period. Broadcom comprises 0.8% of Bogart Wealth LLC's portfolio, making the stock its 22nd biggest holding. Bogart Wealth LLC's holdings in Broadcom were worth $21,877,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in AVGO. Brighton Jones LLC grew its position in Broadcom by 21.8% during the fourth quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer's stock valued at $6,882,000 after buying an additional 5,322 shares during the period. Revolve Wealth Partners LLC increased its holdings in Broadcom by 10.4% during the fourth quarter. Revolve Wealth Partners LLC now owns 7,997 shares of the semiconductor manufacturer's stock valued at $1,854,000 after buying an additional 756 shares during the last quarter. United Bank raised its position in Broadcom by 76.5% in the first quarter. United Bank now owns 2,339 shares of the semiconductor manufacturer's stock worth $392,000 after acquiring an additional 1,014 shares during the period. Sivia Capital Partners LLC raised its position in Broadcom by 10.1% in the second quarter. Sivia Capital Partners LLC now owns 12,693 shares of the semiconductor manufacturer's stock worth $3,499,000 after acquiring an additional 1,160 shares during the period. Finally, Capital & Planning LLC boosted its stake in shares of Broadcom by 10.5% during the 2nd quarter. Capital & Planning LLC now owns 3,983 shares of the semiconductor manufacturer's stock worth $1,098,000 after acquiring an additional 378 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors.

Trending Headlines about Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Apple’s multiyear agreement to buy more than $30 billion of Broadcom chips through 2031 reinforces demand for Broadcom’s custom silicon and U.S. manufacturing strategy. Reuters: Apple to spend $30 billion in Broadcom chips deal that will see Colorado factory expand
• Positive Sentiment: Wall Street remains upbeat on Broadcom’s AI chip momentum, with Jefferies reiterating a Buy rating and a $550 price target on improving AI-related growth prospects. Broadcom’s (AVGO) AI Chip Momentum Keeps Wall Street Bullish
• Positive Sentiment: Broader semiconductor sentiment improved as the AI trade rebounded, with analysts and market commentators viewing the recent selloff as a buying opportunity for chip stocks like Broadcom. Broadcom, Intel, Corning, Marvell, and More Stocks That Explain Today's Market
• Neutral Sentiment: Zacks highlighted Broadcom as a dividend-paying AI infrastructure name, underscoring its mix of income and AI exposure, but this was more of a stock-picking view than a new company-specific catalyst. These Dividend Paying Stocks Offer Strong Exposure to AI Trends
• Negative Sentiment: Erste Group downgraded Broadcom to Hold, citing valuation concerns, which may temper some of the enthusiasm after the recent rally. Erste Group downgrades Broadcom to Hold citing valuation concerns

Insider Buying and Selling

In related news, insider Mark David Brazeal sold 4,825 shares of the stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $394.91, for a total transaction of $1,905,440.75. Following the completion of the transaction, the insider directly owned 269,989 shares of the company's stock, valued at approximately $106,621,355.99. This represents a 1.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Justine Page sold 1,602 shares of the firm's stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $373.86, for a total value of $598,923.72. Following the transaction, the director owned 17,426 shares of the company's stock, valued at $6,514,884.36. This represents a 8.42% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 9,754 shares of company stock worth $3,774,846. Corporate insiders own 1.90% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on AVGO shares. Evercore reissued an "outperform" rating and set a $582.00 price objective on shares of Broadcom in a research report on Tuesday, May 19th. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $545.00 target price (up from $430.00) on shares of Broadcom in a report on Thursday, May 14th. The Goldman Sachs Group reiterated a "buy" rating and set a $525.00 target price on shares of Broadcom in a research report on Thursday, June 4th. DA Davidson boosted their price target on Broadcom from $375.00 to $400.00 and gave the company a "neutral" rating in a report on Thursday, June 4th. Finally, Benchmark upped their price target on Broadcom from $485.00 to $545.00 and gave the stock a "buy" rating in a research report on Thursday, June 4th. One research analyst has rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, Broadcom presently has a consensus rating of "Moderate Buy" and a consensus target price of $493.24.

Broadcom Trading Up 3.2%

Shares of Broadcom stock opened at $401.11 on Friday. Broadcom Inc. has a fifty-two week low of $269.58 and a fifty-two week high of $495.00. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.01 and a current ratio of 2.24. The company has a market capitalization of $1.91 trillion, a P/E ratio of 66.85, a P/E/G ratio of 0.68 and a beta of 1.45. The company has a fifty day moving average of $405.40 and a 200 day moving average of $363.87.

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 the consensus estimate of $2.40 by $0.04. The firm had revenue of $22.19 billion for the quarter, compared to analysts' expectations of $22.13 billion. Broadcom had a net margin of 38.85% and a return on equity of 41.61%. The company's revenue for the quarter was up 47.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.58 earnings per share. On average, sell-side analysts anticipate that Broadcom Inc. will post 10.24 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 22nd were given a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date was Monday, June 22nd. Broadcom's payout ratio is currently 43.33%.

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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