Broadcom Inc. $AVGO is Argonautica Private Wealth Management Inc.'s 5th Largest Position

Key Points

• Argonautica Private Wealth Management trimmed its Broadcom stake by 7.7% in the fourth quarter, but Broadcom still ranks as its 5th-largest holding and makes up 3.8% of its portfolio.
• Broadcom reported strong quarterly results, topping EPS and revenue estimates, with revenue up 47.9% year over year. The company also announced a quarterly dividend of $0.65 per share.
• Wall Street sentiment remains broadly positive, with several firms raising price targets and Broadcom carrying a Moderate Buy consensus rating. Analysts continue to point to its AI momentum and software/security strategy as key strengths.

Argonautica Private Wealth Management Inc. cut its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 7.7% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 37,907 shares of the semiconductor manufacturer's stock after selling 3,156 shares during the period. Broadcom accounts for 3.8% of Argonautica Private Wealth Management Inc.'s holdings, making the stock its 5th biggest holding. Argonautica Private Wealth Management Inc.'s holdings in Broadcom were worth $13,119,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of AVGO. Miller Global Investments LLC acquired a new stake in Broadcom during the 4th quarter worth about $31,000. Nvest Wealth Strategies Inc. acquired a new position in shares of Broadcom in the fourth quarter valued at about $33,000. Family CFO Inc purchased a new position in shares of Broadcom in the fourth quarter worth about $35,000. PayPay Securities Corp raised its stake in shares of Broadcom by 88.9% in the fourth quarter. PayPay Securities Corp now owns 119 shares of the semiconductor manufacturer's stock worth $41,000 after purchasing an additional 56 shares during the last quarter. Finally, Camelot Portfolios LLC acquired a new stake in shares of Broadcom during the fourth quarter worth about $45,000. Institutional investors own 76.43% of the company's stock.

Insider Transactions at Broadcom

In related news, Director Justine Page sold 2,018 shares of the stock in a transaction dated Wednesday, April 8th. The stock was sold at an average price of $353.00, for a total transaction of $712,354.00. Following the transaction, the director owned 18,164 shares of the company's stock, valued at approximately $6,411,892. This represents a 10.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gayla J. Delly sold 1,000 shares of the business's stock in a transaction dated Thursday, April 9th. The stock was sold at an average price of $358.31, for a total transaction of $358,310.00. Following the sale, the director owned 32,352 shares in the company, valued at $11,592,045.12. This trade represents a 3.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 324,282 shares of company stock worth $106,425,249. 1.90% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have commented on AVGO shares. Truist Financial upped their price target on shares of Broadcom from $545.00 to $550.00 and gave the company a "buy" rating in a report on Thursday, June 4th. JPMorgan Chase & Co. raised their price target on shares of Broadcom from $500.00 to $580.00 and gave the company an "overweight" rating in a research report on Thursday, June 4th. Zacks Research cut shares of Broadcom from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 21st. Wall Street Zen raised shares of Broadcom from a "hold" rating to a "buy" rating in a report on Sunday. Finally, Erste Group Bank raised Broadcom from a "hold" rating to a "buy" rating in a research note on Friday. One research analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Broadcom has a consensus rating of "Moderate Buy" and a consensus target price of $490.13.

Broadcom Trading Up 2.8%

AVGO opened at $396.60 on Tuesday. The stock has a market capitalization of $1.88 trillion, a PE ratio of 66.10, a P/E/G ratio of 0.70 and a beta of 1.41. Broadcom Inc. has a one year low of $241.11 and a one year 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 business's 50 day moving average price is $397.96 and its 200 day moving average price is $362.43.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted 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 return on equity of 41.61% and a net margin of 38.85%.The company had revenue of $22.19 billion during the quarter, compared to analysts' expectations of $22.13 billion. During the same quarter last year, the firm earned $1.58 earnings per share. The firm's quarterly revenue was up 47.9% compared to the same quarter last year. As a group, equities research analysts expect that Broadcom Inc. will post 9.97 EPS for the current year.

Broadcom Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 22nd will be issued a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Monday, June 22nd. Broadcom's payout ratio is currently 43.33%.

Key Headlines Impacting 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?

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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