Broadcom Inc. $AVGO is BI Asset Management Fondsmaeglerselskab A S's 5th Largest Position

Key Points

• BI Asset Management Fondsmaeglerselskab A S trimmed its Broadcom stake by 4.6% in the first quarter but still held 865,272 shares worth about $263.5 million, making Broadcom its 5th-largest position and 2.8% of its portfolio.
• Analysts remain broadly positive on AVGO, with recent target-price hikes from firms like Oppenheimer and Mizuho. The stock currently carries a consensus rating of “Moderate Buy” with an average price target of $490.13.
• Broadcom posted strong quarterly results and kept rewarding shareholders, reporting EPS and revenue above estimates and 47.9% year-over-year revenue growth. The company also announced a quarterly dividend of $0.65 per share, payable June 30.

BI Asset Management Fondsmaeglerselskab A S reduced its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 4.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 865,272 shares of the semiconductor manufacturer's stock after selling 41,928 shares during the period. Broadcom makes up about 2.8% of BI Asset Management Fondsmaeglerselskab A S's investment portfolio, making the stock its 5th biggest holding. BI Asset Management Fondsmaeglerselskab A S's holdings in Broadcom were worth $263,545,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. ROSS JOHNSON & Associates LLC grew its stake in shares of Broadcom by 1,320.0% in the fourth quarter. ROSS JOHNSON & Associates LLC now owns 71 shares of the semiconductor manufacturer's stock valued at $25,000 after buying an additional 66 shares in the last quarter. SWAN Capital LLC lifted its position in 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. Miller Global Investments LLC purchased a new position in Broadcom in the 4th quarter worth approximately $31,000. Nvest Wealth Strategies Inc. purchased a new position in Broadcom in the 4th quarter worth approximately $33,000. Finally, Family CFO Inc acquired a new stake in Broadcom in the fourth quarter valued at approximately $35,000. 76.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on AVGO shares. Oppenheimer reissued an "outperform" rating and set a $535.00 target price (up from $450.00) on shares of Broadcom in a research report on Thursday, June 4th. Mizuho boosted their price objective on shares of Broadcom from $480.00 to $530.00 and gave the stock an "outperform" rating in a report on Thursday, June 4th. DA Davidson boosted their price objective on shares of Broadcom from $375.00 to $400.00 and gave the stock a "neutral" rating in a report on Thursday, June 4th. Wall Street Zen downgraded Broadcom from a "strong-buy" rating to a "buy" rating in a research note on Tuesday. Finally, Weiss Ratings raised Broadcom from a "buy (b-)" rating to a "buy (b)" rating in a research report on Tuesday, June 9th. One analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat.com, Broadcom currently has a consensus rating of "Moderate Buy" and a consensus price target of $490.13.

Insider Buying and Selling

In related news, Director Justine Page sold 2,018 shares of the stock in a transaction dated Wednesday, April 8th. The shares were sold at an average price of $353.00, for a total transaction of $712,354.00. Following the sale, the director owned 18,164 shares in the company, valued at $6,411,892. This represents a 10.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Mark David Brazeal sold 4,825 shares of the firm's stock in a transaction dated 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 in the company, valued at $106,621,355.99. This represents a 1.76% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 59,385 shares of company stock worth $21,301,057. Company insiders own 1.90% of the company's stock.

Broadcom Trading Down 4.7%

Shares of NASDAQ AVGO opened at $392.13 on Tuesday. The stock's 50 day moving average price is $412.17 and its two-hundred day moving average price is $363.42. Broadcom Inc. has a 52-week low of $246.46 and a 52-week high of $495.00. The stock has a market capitalization of $1.87 trillion, a P/E ratio of 65.36, a PEG ratio of 0.72 and a beta of 1.41. 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 (NASDAQ:AVGO - Get Free Report) last issued its earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 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 analyst estimates of $22.13 billion. During the same quarter last year, the firm earned $1.58 EPS. The business's revenue was up 47.9% on a year-over-year basis. On average, analysts anticipate that Broadcom Inc. will post 10.24 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 22nd will be issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Monday, June 22nd. Broadcom's dividend payout ratio is 43.33%.

More Broadcom News

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Analysts and market commentators are pointing to Broadcom’s strong AI demand as the main reason to stay bullish. Recent coverage highlighted record semiconductor sales, AI chip and networking demand, and strong customer commitments as evidence that the company’s AI growth story remains intact. Broadcom's AI Push Boosts Semiconductor Sales: More Upside Ahead?
• Positive Sentiment: JPMorgan reportedly reiterated buy-the-dip optimism, citing Broadcom’s multi-year Google partnership, record quarterly revenue of $22.19 billion, and AI semiconductor sales of $10.8 billion, up 143% year over year. The note also pointed to expectations for another step-up in AI-chip growth next quarter. Broadcom's AI boom — Google deal and huge revenue growth spark buy-the-dip calls
• Positive Sentiment: Several pieces argue that the market is overreacting to a modest AI revenue guide and that the selloff has created an accumulation opportunity. They emphasize that Broadcom’s revenue, semiconductor growth, AI bookings, and backlog are all at record levels, which supports the longer-term investment case. The Grandest Castle Ever Floated (and the Stocks to Profit From It)
• Positive Sentiment: Broadcom is also attracting broader investor attention and continued analyst support, including a consensus “Moderate Buy” rating, which may help stabilize sentiment after the recent decline. Broadcom Inc. NASDAQ: AVGO Receives Consensus Recommendation of "Moderate Buy" from Analysts

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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