Broadcom Inc. $AVGO Holdings Boosted by PUREfi Wealth LLC

Key Points

• PUREfi Wealth LLC increased its Broadcom stake by 12% in the first quarter, buying 1,317 more shares and lifting its holding to 12,334 shares worth about $3.82 million.
• Broadcom continues to attract strong institutional and analyst support, with 76.43% of shares held by institutions and Wall Street maintaining a consensus rating of "Moderate Buy" with an average price target of $493.24.
• The company reported solid quarterly results, beating EPS estimates and posting 47.9% year-over-year revenue growth, while also paying a quarterly dividend of $0.65 per share.

PUREfi Wealth LLC raised its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 12.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,334 shares of the semiconductor manufacturer's stock after acquiring an additional 1,317 shares during the quarter. Broadcom makes up about 2.5% of PUREfi Wealth LLC's portfolio, making the stock its 6th biggest position. PUREfi Wealth LLC's holdings in Broadcom were worth $3,817,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. ROSS JOHNSON & Associates LLC raised its holdings in Broadcom by 1,320.0% in the fourth quarter. ROSS JOHNSON & Associates LLC now owns 71 shares of the semiconductor manufacturer's stock worth $25,000 after purchasing an additional 66 shares in the last quarter. SWAN Capital LLC raised its stake in shares of Broadcom by 261.9% during the 4th quarter. SWAN Capital LLC now owns 76 shares of the semiconductor manufacturer's stock worth $26,000 after acquiring an additional 55 shares in the last quarter. Networth Advisors LLC lifted its position in Broadcom by 546.2% during the first quarter. Networth Advisors LLC now owns 84 shares of the semiconductor manufacturer's stock valued at $26,000 after acquiring an additional 71 shares during the last quarter. Miller Global Investments LLC purchased a new stake in Broadcom during the fourth quarter valued at approximately $31,000. Finally, Nvest Wealth Strategies Inc. acquired a new stake in Broadcom in the fourth quarter valued at approximately $33,000. 76.43% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Harry L. You acquired 1,000 shares of Broadcom stock in a transaction on Thursday, June 11th. The stock was acquired at an average price of $373.57 per share, for a total transaction of $373,570.00. Following the purchase, the director owned 38,466 shares of the company's stock, valued at approximately $14,369,743.62. This represents a 2.67% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Justine Page sold 1,602 shares of the business's stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $373.86, for a total value of $598,923.72. Following the completion of the transaction, the director directly owned 17,426 shares of the company's stock, valued at approximately $6,514,884.36. This trade represents a 8.42% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 9,754 shares of company stock valued at $3,774,846 over the last 90 days. Insiders own 1.90% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on AVGO shares. Weiss Ratings downgraded Broadcom from a "buy (b)" rating to a "buy (b-)" rating in a research report on Friday, June 26th. Wells Fargo & Company reissued an "overweight" rating and issued a $545.00 price objective (up from $430.00) on shares of Broadcom in a research report on Thursday, May 14th. KeyCorp restated an "overweight" rating and set a $575.00 target price (up from $500.00) on shares of Broadcom in a research note on Thursday, June 4th. UBS Group set a $485.00 target price on Broadcom and gave the company a "buy" rating in a research report on Thursday, June 4th. Finally, Citigroup reiterated a "buy" rating on shares of Broadcom in a research note on Thursday, June 4th. One investment analyst has rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $493.24.

More Broadcom News

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

Broadcom Trading Up 3.2%

Broadcom stock opened at $401.11 on Friday. The company has a quick ratio of 2.01, a current ratio of 2.24 and a debt-to-equity ratio of 0.71. Broadcom Inc. has a 52 week low of $269.58 and a 52 week high of $495.00. The company has a market capitalization of $1.91 trillion, a price-to-earnings ratio of 66.85, a price-to-earnings-growth ratio of 0.68 and a beta of 1.45. The stock has a 50-day moving average price of $405.40 and a 200 day moving average price of $363.87.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its quarterly earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share 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 company had revenue of $22.19 billion for the quarter, compared to the consensus estimate of $22.13 billion. During the same quarter in the prior year, the company earned $1.58 EPS. Broadcom's quarterly revenue was up 47.9% on a year-over-year basis. Sell-side analysts anticipate that Broadcom Inc. will post 10.24 EPS for the current year.

Broadcom Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 22nd were issued a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend was Monday, June 22nd. Broadcom's dividend payout ratio (DPR) is 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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