Broadcom Inc. $AVGO is Glass Wealth Management Co LLC's Largest Position

Glass Wealth Management Co LLC trimmed its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 2.4% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 92,025 shares of the semiconductor manufacturer's stock after selling 2,223 shares during the quarter. Broadcom accounts for about 11.0% of Glass Wealth Management Co LLC's investment portfolio, making the stock its biggest position. Glass Wealth Management Co LLC's holdings in Broadcom were worth $28,483,000 as of its most recent SEC filing.

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

Broadcom News Roundup

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Evercore ISI said Broadcom’s multiyear agreement with Apple is strategically positive, as it strengthens Apple’s AI compute silicon efforts and extends Broadcom’s role as a key custom-chip partner. Broadcom Inc. (AVGO) Agreement a Strategic Positive for Apple, says Evercore ISI
• Positive Sentiment: Reports say Broadcom secured its role as a key Apple supplier through 2031, giving investors more confidence in a long-duration revenue stream. Broadcom Inc. (AVGO) Secures Role as Key Apple Supplier with Chip Deal through 2031
• Positive Sentiment: Morgan Stanley described Broadcom as a “core AI winner,” keeping the stock in focus as one of the main beneficiaries of AI infrastructure spending. Broadcom is a 'core AI winner,' even as MediaTek encroaches, Morgan Stanley says
• Neutral Sentiment: Additional commentary highlighted Broadcom as a major AI stock and a possible outperformer versus other chip names, which adds to the bullish narrative but does not change the near-term business outlook directly. Is Broadcom Inc. (AVGO) a Buy as Wall Street Analysts Look Optimistic?
• Negative Sentiment: There was also an insider-selling headline, which can weigh on sentiment even if it does not necessarily reflect a change in the company’s fundamentals. Insider Selling: Broadcom NASDAQ: AVGO Insider Sells $9,479,750.00 in Stock

Analyst Ratings Changes

AVGO has been the topic of a number of research reports. Zacks Research downgraded shares of Broadcom from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 21st. Bank of America raised their price target 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 restated an "outperform" rating and issued a $582.00 target price on shares of Broadcom in a research note on Tuesday, May 19th. Susquehanna reissued a "positive" rating and issued a $490.00 target price (up from $450.00) on shares of Broadcom in a research report on Thursday, May 28th. Finally, Benchmark increased their price objective on Broadcom from $485.00 to $545.00 and gave the company a "buy" rating in a report on Thursday, June 4th. One analyst has rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, Broadcom has a consensus rating of "Moderate Buy" and an average target price of $493.24.

Insider Activity

In other Broadcom news, Director Harry L. You purchased 1,000 shares of the firm's stock in a transaction that occurred on Thursday, June 11th. The shares were acquired at an average cost of $373.57 per share, for a total transaction of $373,570.00. Following the transaction, the director directly owned 38,466 shares in the company, valued at approximately $14,369,743.62. The trade was a 2.67% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, insider Mark David Brazeal sold 25,000 shares of the business's stock in a transaction on Friday, July 10th. The stock was sold at an average price of $401.33, for a total value of $10,033,250.00. Following the completion of the transaction, the insider directly owned 194,989 shares in the company, valued at approximately $78,254,935.37. This represents a 11.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 61,644 shares of company stock worth $24,016,214 over the last 90 days. 1.90% of the stock is currently owned by company insiders.

Broadcom Trading Up 1.3%

Broadcom stock opened at $389.11 on Wednesday. The business has a 50 day moving average price of $403.86 and a two-hundred day moving average price of $364.80. The company has a quick ratio of 2.01, a current ratio of 2.24 and a debt-to-equity ratio of 0.71. The stock has a market cap of $1.85 trillion, a price-to-earnings ratio of 64.85, a price-to-earnings-growth ratio of 0.67 and a beta of 1.45. Broadcom Inc. has a 12 month low of $273.00 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 earnings per share for the quarter, topping analysts' consensus estimates of $2.40 by $0.04. The firm had revenue of $22.19 billion for the quarter, compared to the consensus estimate of $22.13 billion. Broadcom had a net margin of 38.85% and a return on equity of 41.61%. The business's revenue was up 47.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.58 earnings per share. As a group, equities analysts forecast that Broadcom Inc. will post 10.24 EPS for the current year.

Broadcom Dividend Announcement

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

Broadcom Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.