Broadcom Inc. $AVGO is Murphy & Mullick Capital Management Corp's 4th Largest Position

Key Points

• Murphy & Mullick Capital Management cut its Broadcom stake by 13.9% in the first quarter, but the stock remains its 4th largest holding at 2.7% of the portfolio, worth about $3.7 million.
• Broadcom reported better-than-expected quarterly results, with EPS of $2.44 and revenue of $22.19 billion, while revenue jumped 47.9% year over year. Analysts still see more upside, with several raising price targets and a consensus rating of Moderate Buy.
• The company also announced a quarterly dividend of $0.65 per share, payable June 30, and recent headlines point to growing AI-related opportunities, including a custom chip collaboration with OpenAI and a new $35 billion AI platform.

Murphy & Mullick Capital Management Corp reduced its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 13.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,942 shares of the semiconductor manufacturer's stock after selling 1,929 shares during the period. Broadcom comprises 2.7% of Murphy & Mullick Capital Management Corp's investment portfolio, making the stock its 4th largest position. Murphy & Mullick Capital Management Corp's holdings in Broadcom were worth $3,696,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. ROSS JOHNSON & Associates LLC boosted its position in 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 buying an additional 66 shares during the period. SWAN Capital LLC increased its position in shares of Broadcom by 261.9% in the fourth quarter. SWAN Capital LLC now owns 76 shares of the semiconductor manufacturer's stock valued at $26,000 after acquiring an additional 55 shares during the period. Miller Global Investments LLC bought a new position in shares of Broadcom during the fourth quarter valued at about $31,000. Nvest Wealth Strategies Inc. bought a new position in shares of Broadcom during the fourth quarter valued at about $33,000. Finally, Family CFO Inc purchased a new stake in shares of Broadcom during the fourth quarter worth about $35,000. Institutional investors own 76.43% of the company's stock.

Broadcom Stock Down 0.8%

Shares of NASDAQ:AVGO opened at $378.91 on Friday. The firm has a market capitalization of $1.80 trillion, a P/E ratio of 63.15, a P/E/G ratio of 0.67 and a beta of 1.41. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.01 and a current ratio of 2.24. The stock has a 50 day moving average price of $412.34 and a 200-day moving average price of $363.34. Broadcom Inc. has a 52-week low of $262.66 and a 52-week high of $495.00.

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

Broadcom Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 22nd will be given a dividend of $0.65 per share. The ex-dividend date of this dividend is Monday, June 22nd. This represents a $2.60 annualized dividend and a yield of 0.7%. Broadcom's dividend payout ratio (DPR) is currently 43.33%.

Trending Headlines about Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom and OpenAI unveiled Jalapeño, a custom AI inference chip that could strengthen Broadcom’s role in next-generation AI infrastructure and generate new demand for its networking and accelerator products. Reuters article on OpenAI/Broadcom custom chip
• Positive Sentiment: Broadcom was also tied to a new $35 billion AI platform aimed at expanding data-center compute capacity, reinforcing the company’s exposure to multi-year AI spending. Yahoo Finance article on AI platform
• Neutral Sentiment: Market commentary suggested semiconductor weakness may be a buying opportunity, but broader AI sentiment remains uneven as investors question which parts of the ecosystem will see the biggest payoff. 247WallSt article on chip stocks
• Neutral Sentiment: Broadcom’s short-interest update reported 0 shares outstanding, which does not provide a meaningful signal for investors.
• Negative Sentiment: Despite the positive AI headlines, AVGO has also been pressured by broader semiconductor volatility and reports of weakness in parts of the AI-chip complex. Yahoo Finance article on AVGO weakness

Insider Activity

In related news, insider Mark David Brazeal sold 4,825 shares of the stock in a transaction dated 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 completion of the transaction, the insider directly owned 269,989 shares in the company, valued at $106,621,355.99. This trade represents a 1.76% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gayla J. Delly sold 1,000 shares of Broadcom stock in a transaction dated Thursday, April 9th. The shares were sold at an average price of $358.31, for a total transaction of $358,310.00. Following the transaction, the director directly owned 32,352 shares of the company's stock, valued at approximately $11,592,045.12. This trade represents a 3.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 59,385 shares of company stock worth $21,301,057. 1.90% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Mizuho raised their target price on Broadcom from $480.00 to $530.00 and gave the stock an "outperform" rating in a research note on Thursday, June 4th. DA Davidson upped their price target on Broadcom from $375.00 to $400.00 and gave the company a "neutral" rating in a research report on Thursday, June 4th. Bank of America increased their price objective on Broadcom from $450.00 to $530.00 and gave the stock a "buy" rating in a report on Thursday, June 4th. Susquehanna reiterated a "positive" rating and issued a $490.00 price objective (up from $450.00) on shares of Broadcom in a research report on Thursday, May 28th. Finally, Wall Street Zen cut Broadcom from a "strong-buy" rating to a "buy" rating in a research note on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $493.24.

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.

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