Broadcom Inc. $AVGO is Groupama Asset Managment's 5th Largest Position

Groupama Asset Managment decreased its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 28.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 866,755 shares of the semiconductor manufacturer's stock after selling 345,635 shares during the period. Broadcom makes up about 4.4% of Groupama Asset Managment's investment portfolio, making the stock its 5th largest position. Groupama Asset Managment's holdings in Broadcom were worth $299,682,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in AVGO. Brighton Jones LLC raised its position in Broadcom by 21.8% in the 4th quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer's stock worth $6,882,000 after purchasing an additional 5,322 shares during the period. Revolve Wealth Partners LLC boosted its holdings in Broadcom by 10.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 7,997 shares of the semiconductor manufacturer's stock valued at $1,854,000 after acquiring an additional 756 shares during the period. United Bank boosted its holdings in Broadcom by 76.5% during the 1st quarter. United Bank now owns 2,339 shares of the semiconductor manufacturer's stock valued at $392,000 after acquiring an additional 1,014 shares during the period. Sivia Capital Partners LLC grew its position in Broadcom by 10.1% in the 2nd quarter. Sivia Capital Partners LLC now owns 12,693 shares of the semiconductor manufacturer's stock valued at $3,499,000 after acquiring an additional 1,160 shares during the last quarter. Finally, Capital & Planning LLC increased its stake in Broadcom by 10.5% in the second quarter. Capital & Planning LLC now owns 3,983 shares of the semiconductor manufacturer's stock worth $1,098,000 after purchasing an additional 378 shares during the period. Hedge funds and other institutional investors own 76.43% of the company's stock.

Key Broadcom News

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom’s debt tender offer was upsized to $3 billion after strong investor demand, signaling active balance-sheet management and reinforcing investor confidence. Broadcom Inc. Announces Results and Upsize of Offers to Purchase for Cash Certain of its Outstanding Debt Securities
• Positive Sentiment: JPMorgan remained bullish on Broadcom, saying investors should be “aggressive buyers,” which supports the view that the market may still be underestimating AVGO’s AI growth. AVGO stock jumps — JPMorgan says investors should be 'aggressive buyers' of Broadcom at current levels
• Positive Sentiment: Citi also called Broadcom a top chip stock on strong data-center demand, adding another bullish Wall Street view tied to AI infrastructure spending. Citi Touts Broadcom Inc. (AVGO) as a Top Chip Stock on Soaring Data Center Demand
• Positive Sentiment: One report said VMware, Broadcom’s second-largest business, may be set to accelerate, which could broaden growth beyond the company’s AI chip exposure. VMware: Broadcom's Second Biggest Business Set to Accelerate
• Neutral Sentiment: Insider Mark David Brazeal sold shares in two June transactions, but the sales were relatively small versus his remaining stake and do not necessarily change the broader investment thesis. Mark David Brazeal insider trading page
• Negative Sentiment: One analyst warned that chip valuations are getting stretched and suggested investors could consider alternatives, including Broadcom, which may temper enthusiasm if valuation concerns intensify. Analyst Warns Intel Valuation ‘Doesn't Make Sense.' Suggests NVIDIA, AMD, Micron, and Broadcom as Alternatives.

Broadcom Stock Performance

Broadcom stock opened at $411.35 on Friday. The firm has a market cap of $1.96 trillion, a PE ratio of 68.56, a P/E/G ratio of 0.72 and a beta of 1.41. Broadcom Inc. has a 12 month low of $244.17 and a 12 month high of $495.00. The stock's 50 day simple moving average is $411.42 and its two-hundred day simple moving average is $363.50. The company has a current ratio of 2.24, a quick ratio of 2.01 and a debt-to-equity ratio of 0.71.

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, beating the consensus estimate of $2.40 by $0.04. The firm had revenue of $22.19 billion during the quarter, compared to analysts' expectations 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 period in the previous year, the business posted $1.58 EPS. Analysts anticipate that Broadcom Inc. will post 10.24 earnings per share for the current year.

Broadcom Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 22nd will be paid a dividend of $0.65 per share. The ex-dividend date of this dividend is Monday, June 22nd. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.6%. Broadcom's payout ratio is currently 43.33%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on AVGO shares. Citigroup restated a "buy" rating on shares of Broadcom in a report on Thursday, June 4th. Rosenblatt Securities reissued a "buy" rating and issued a $500.00 price objective on shares of Broadcom in a research report on Thursday, June 4th. Weiss Ratings upgraded shares of Broadcom from a "buy (b-)" rating to a "buy (b)" rating in a research note on Tuesday, June 9th. Truist Financial lifted their price target on shares of Broadcom from $545.00 to $550.00 and gave the company a "buy" rating in a research note on Thursday, June 4th. Finally, JPMorgan Chase & Co. boosted their price target on Broadcom from $500.00 to $580.00 and gave the company an "overweight" rating in a report on Thursday, June 4th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, Broadcom currently has a consensus rating of "Moderate Buy" and a consensus target price of $490.13.

Insider Activity

In other Broadcom news, insider S. Ram Velaga sold 17,260 shares of Broadcom stock in a transaction on Thursday, April 9th. The shares were sold at an average price of $352.12, for a total transaction of $6,077,591.20. Following the sale, the insider owned 65,932 shares of the company's stock, valued at $23,215,975.84. The trade was a 20.75% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Justine Page sold 2,018 shares of the business's 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 in the company, valued at $6,411,892. The trade was a 10.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 59,385 shares of company stock worth $21,301,057. Company insiders own 1.90% of the company's stock.

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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