Broadcom Inc. $AVGO is Eagle Wealth Advisors LLC's 7th Largest Position

Key Points

• Eagle Wealth Advisors LLC cut its Broadcom stake by 14.3% in the first quarter, but AVGO still ranked as its 7th-largest position, representing about 3.5% of the portfolio and $3.75 million in value.
• Wall Street remains bullish on Broadcom, with multiple firms reiterating buy/overweight ratings and lifting price targets; the consensus rating is Moderate Buy with a target price of $493.24.
• Broadcom reported strong quarterly results, beating EPS and revenue expectations and posting 47.9% year-over-year revenue growth, while also paying a quarterly dividend of $0.65 per share.

Eagle Wealth Advisors LLC reduced its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 14.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,116 shares of the semiconductor manufacturer's stock after selling 2,029 shares during the quarter. Broadcom comprises about 3.5% of Eagle Wealth Advisors LLC's investment portfolio, making the stock its 7th biggest position. Eagle Wealth Advisors LLC's holdings in Broadcom were worth $3,750,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. ROSS JOHNSON & Associates LLC boosted its holdings in shares of Broadcom by 1,320.0% in the 4th quarter. ROSS JOHNSON & Associates LLC now owns 71 shares of the semiconductor manufacturer's stock worth $25,000 after purchasing an additional 66 shares during the period. SWAN Capital LLC raised its holdings in Broadcom by 261.9% during the 4th quarter. SWAN Capital LLC now owns 76 shares of the semiconductor manufacturer's stock valued at $26,000 after buying an additional 55 shares during the period. Networth Advisors LLC raised its holdings in Broadcom by 546.2% during the 1st quarter. Networth Advisors LLC now owns 84 shares of the semiconductor manufacturer's stock valued at $26,000 after buying an additional 71 shares during the period. Miller Global Investments LLC bought a new stake in Broadcom in the fourth quarter worth $31,000. Finally, Nvest Wealth Strategies Inc. bought a new stake in Broadcom in the fourth quarter worth $33,000. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

AVGO has been the topic of a number of analyst reports. Cantor Fitzgerald reiterated an "overweight" rating and set a $525.00 price objective on shares of Broadcom in a research report on Thursday, June 4th. Bank of America raised their target price on shares of Broadcom from $450.00 to $530.00 and gave the stock a "buy" rating in a report on Thursday, June 4th. Evercore reaffirmed an "outperform" rating and set a $582.00 price target on shares of Broadcom in a research note on Tuesday, May 19th. Morgan Stanley set a $502.00 price target on shares of Broadcom and gave the company an "overweight" rating in a report on Thursday, June 4th. Finally, 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. One analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Broadcom presently has a consensus rating of "Moderate Buy" and a consensus target price of $493.24.

Broadcom Price Performance

Shares of AVGO opened at $360.45 on Friday. The firm has a fifty day moving average price of $407.92 and a 200-day moving average price of $362.33. The company has a current ratio of 2.24, a quick ratio of 2.01 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $1.71 trillion, a P/E ratio of 60.08, a P/E/G ratio of 0.63 and a beta of 1.45. Broadcom Inc. has a 12-month low of $269.58 and a 12-month high of $495.00.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its quarterly 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 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 last year, the firm posted $1.58 EPS. The firm's revenue was up 47.9% compared to the same quarter last year. Equities research analysts expect that Broadcom Inc. will post 10.24 earnings per share for the current year.

Broadcom Dividend Announcement

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

Insider Buying and Selling at Broadcom

In related news, Director Harry L. You purchased 1,000 shares of the firm's stock in a transaction dated Thursday, June 11th. The stock was purchased at an average price of $373.57 per share, with a total value of $373,570.00. Following the completion of the purchase, the director owned 38,466 shares of the company's stock, valued at approximately $14,369,743.62. The trade was a 2.67% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Justine Page sold 2,018 shares of the business's stock in a transaction that occurred on Wednesday, April 8th. The shares were sold at an average price of $353.00, for a total value of $712,354.00. Following the completion of the sale, the director owned 18,164 shares of the company's stock, valued at $6,411,892. The trade was a 10.00% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 60,987 shares of company stock valued at $21,899,980. 1.90% of the stock is owned by corporate insiders.

Key Stories Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: JPMorgan, UBS, Jefferies and other analysts remain constructive on Broadcom’s AI-driven growth, with price targets well above current levels and continued optimism around custom AI silicon demand, including exposure to customers such as OpenAI and Anthropic. UBS Reaffirms Buy Rating on Broadcom (AVGO) Amid AI ASIC Demand and OpenAI, Anthropic Growth
• Positive Sentiment: Articles highlighting Broadcom’s partnership with OpenAI on the “Jalapeño” AI accelerator reinforce the market’s bullish view that AI infrastructure can keep driving revenue growth. What Broadcom (AVGO)'s Jalapeño AI Accelerator Partnership With OpenAI Means For Shareholders
• Neutral Sentiment: Several recent write-ups argue Broadcom may be attractive after its pullback, but they mostly restate the same long-term thesis rather than pointing to a new catalyst. Why Broadcom Stock Slumped Today
• Neutral Sentiment: Investors continue to search for clues on whether Broadcom can rebound from its post-earnings decline, with coverage focusing on earnings estimates and fair-value changes. Broadcom (AVGO) Stock Gets Fair Value Boost As Analysts Split On AI Outlook
• Negative Sentiment: Director Justine Page sold 1,602 shares of Broadcom stock, extending insider-selling headlines that can weigh on sentiment even if the sale is relatively small versus the company’s size. SEC Form 4 filing for Justine Page sale
• Negative Sentiment: Broadcom remains about 14% below its last earnings report level, and recent commentary suggests investors are still uneasy about whether the company’s strong results were enough to justify its premium valuation. Broadcom Inc. (AVGO) Down 14% Since Last Earnings Report: Can It Rebound?

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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