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

Key Points

• Moran Wealth Management trimmed its Broadcom stake by 7.7% in the first quarter but still holds 189,286 shares valued at about $58.6 million, making AVGO its largest position.
• Broadcom reported better-than-expected quarterly results, with EPS of $2.44 and revenue of $22.19 billion, while revenue surged 47.9% year over year.
• Analysts remain mostly bullish: the stock carries a Moderate Buy consensus rating with an average price target of $493.24, and several firms recently raised their targets.

Moran Wealth Management LLC lessened its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 7.7% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 189,286 shares of the semiconductor manufacturer's stock after selling 15,837 shares during the quarter. Broadcom comprises 1.8% of Moran Wealth Management LLC's portfolio, making the stock its largest position. Moran Wealth Management LLC's holdings in Broadcom were worth $58,586,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. ROSS JOHNSON & Associates LLC grew its stake 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 buying an additional 66 shares during the last quarter. Networth Advisors LLC raised its stake in Broadcom by 546.2% during the first 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 last quarter. SWAN Capital LLC raised its stake in Broadcom by 261.9% during the fourth 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 last quarter. 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. Institutional investors own 76.43% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Wall Street Zen upgraded Broadcom from a "buy" rating to a "strong-buy" rating in a report on Wednesday, July 1st. Royal Bank Of Canada increased their price objective on shares of Broadcom from $360.00 to $400.00 and gave the company a "sector perform" rating in a research report on Thursday, June 4th. UBS Group set a $485.00 price objective on shares of Broadcom and gave the company a "buy" rating in a research note on Thursday, June 4th. Mizuho lifted their target price on shares of Broadcom from $480.00 to $530.00 and gave the stock an "outperform" rating in a report on Thursday, June 4th. Finally, Bank of America upped their target price on shares of Broadcom from $450.00 to $530.00 and gave the stock a "buy" rating in a research note 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 assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $493.24.

Broadcom Stock Performance

Shares of AVGO opened at $370.78 on Wednesday. The firm has a market capitalization of $1.76 trillion, a P/E ratio of 61.80, a PEG ratio of 0.66 and a beta of 1.45. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.24 and a quick ratio of 2.01. Broadcom Inc. has a one year low of $269.58 and a one year high of $495.00. The business has a fifty day moving average of $405.96 and a 200 day moving average of $363.03.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share for the quarter, beating analysts' consensus estimates of $2.40 by $0.04. The company had revenue of $22.19 billion for the quarter, compared to the consensus estimate of $22.13 billion. Broadcom had a return on equity of 41.61% and a net margin of 38.85%.Broadcom's revenue was up 47.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.58 earnings per share. As a group, sell-side analysts anticipate that Broadcom Inc. will post 10.24 EPS for the current year.

Broadcom Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 22nd were paid a $0.65 dividend. 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 is 43.33%.

More Broadcom News

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom extended its chip and wireless component partnership with Apple through 2031, including custom ASIC silicon for Apple’s AI server chips. Investors view the deal as a major win because it locks in a durable revenue stream and improves visibility into Broadcom’s future cash flow. Apple and Broadcom Forge a Decade-Long Silicon Fortress
• Positive Sentiment: Several analysts and commentators reiterated a bullish view on Broadcom, arguing the Apple extension strengthens its “AI infrastructure” story and makes the stock look more attractive after the recent pullback. Bull v. Bear: AVGO New Value as Sell-Off Steepens
• Neutral Sentiment: Broadcom also benefited from a broader rebound in chip names, with investors reacting to renewed enthusiasm for AI and semiconductor spending, even as some of that move looked tied to sector rotation rather than company-specific news. Allegro MicroSystems and Penguin Solutions Shares Skyrocket, What You Need To Know
• Neutral Sentiment: A recent hold rating reaffirmation from Erste Group Bank did not materially change the story, but it may temper near-term upside if investors were expecting a fresh bullish catalyst. Benzinga report on Erste Group Bank reaffirmation
• Negative Sentiment: Broader semiconductor weakness and a global tech sell-off, tied in part to a margin/liquidity shock in Asia, have weighed on AVGO and other chip stocks despite no clear deterioration in fundamentals. The AI Chip Sell-Off Looks Scary, But the Real Story May Be Liquidity
• Negative Sentiment: AVGO remains well below its recent highs and is being described as in a bear market, reflecting ongoing valuation pressure and investor caution after the sector pullback. Bull v. Bear: AVGO New Value as Sell-Off Steepens

Insider Buying and Selling

In related news, insider Mark David Brazeal sold 4,825 shares of the firm's stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $394.91, for a total value of $1,905,440.75. Following the transaction, the insider owned 269,989 shares of the company's stock, valued at approximately $106,621,355.99. This trade represents a 1.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Justine Page sold 1,602 shares of the business's stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $373.86, for a total transaction of $598,923.72. Following the sale, the director owned 17,426 shares of the company's stock, valued at $6,514,884.36. This trade represents a 8.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 36,014 shares of company stock valued at $13,174,907 in the last 90 days. 1.90% of the stock is owned by insiders.

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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