Broadcom Inc. $AVGO is River Street Advisors LLC's 8th Largest Position

Key Points

• River Street Advisors LLC boosted its Broadcom stake by 7.2% in the first quarter, making AVGO its 8th largest position and valuing the holding at about $6.88 million.
• Broadcom reported better-than-expected quarterly results, with EPS of $2.44 versus $2.40 expected and revenue of $22.19 billion, up 47.9% year over year.
• Analysts remain constructive on the stock: several firms reiterated Buy ratings, with consensus target price around $493.24, while Broadcom also paid a quarterly dividend of $0.65 per share.

River Street Advisors LLC grew its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 7.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 22,215 shares of the semiconductor manufacturer's stock after acquiring an additional 1,498 shares during the quarter. Broadcom comprises about 2.3% of River Street Advisors LLC's portfolio, making the stock its 8th largest position. River Street Advisors LLC's holdings in Broadcom were worth $6,876,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the company. Signature Wealth Management Partners LLC lifted its stake in Broadcom by 5.4% in the first quarter. Signature Wealth Management Partners LLC now owns 2,699 shares of the semiconductor manufacturer's stock worth $835,000 after purchasing an additional 139 shares during the last quarter. Granite Islands Private Wealth LLC lifted its stake in shares of Broadcom by 13.6% during the 1st quarter. Granite Islands Private Wealth LLC now owns 9,637 shares of the semiconductor manufacturer's stock worth $2,968,000 after acquiring an additional 1,151 shares during the last quarter. TigerOak Management L.L.C. grew its position in Broadcom by 6.4% in the 1st quarter. TigerOak Management L.L.C. now owns 5,190 shares of the semiconductor manufacturer's stock valued at $1,606,000 after acquiring an additional 313 shares during the last quarter. Riverstone Advisors LLC increased its stake in Broadcom by 2.8% in the first quarter. Riverstone Advisors LLC now owns 20,493 shares of the semiconductor manufacturer's stock worth $6,343,000 after purchasing an additional 562 shares during the period. Finally, Laurel Oak Wealth Management LLC lifted its position in shares of Broadcom by 15.8% during the first quarter. Laurel Oak Wealth Management LLC now owns 8,124 shares of the semiconductor manufacturer's stock worth $2,514,000 after purchasing an additional 1,107 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors.

Broadcom Trading Up 1.4%

AVGO opened at $377.75 on Wednesday. Broadcom Inc. has a 12 month low of $262.66 and a 12 month high of $495.00. The stock has a fifty day moving average price of $410.61 and a 200-day moving average price of $362.60. The firm has a market cap of $1.80 trillion, a price-to-earnings ratio of 62.96, a PEG ratio of 0.65 and a beta of 1.41. 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 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 quarterly revenue was up 47.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.58 earnings per share. As a group, equities research analysts anticipate that Broadcom Inc. will post 10.24 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The company 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. The ex-dividend date of this dividend was Monday, June 22nd. This represents a $2.60 dividend on an annualized basis and a yield of 0.7%. Broadcom's dividend payout ratio is presently 43.33%.

Insider Buying and Selling at Broadcom

In related news, insider Mark David Brazeal sold 4,825 shares of the company's stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $394.91, for a total transaction of $1,905,440.75. Following the transaction, the insider directly owned 269,989 shares of the company's stock, valued at $106,621,355.99. This represents a 1.76% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Justine Page sold 2,018 shares of the firm's stock in a transaction dated Wednesday, April 8th. The stock was sold at an average price of $353.00, for a total value of $712,354.00. Following the completion of the sale, the director directly owned 18,164 shares of the company's stock, valued at approximately $6,411,892. This represents a 10.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 59,385 shares of company stock valued at $21,301,057. Corporate insiders own 1.90% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on AVGO. UBS Group set a $485.00 target price on shares of Broadcom and gave the stock a "buy" rating in a research note on Thursday, June 4th. Benchmark increased their price objective on Broadcom from $485.00 to $545.00 and gave the stock a "buy" rating in a research note on Thursday, June 4th. Citigroup restated a "buy" rating on shares of Broadcom in a report on Thursday, June 4th. Seaport Research Partners reissued a "neutral" rating on shares of Broadcom in a research report on Wednesday, April 8th. Finally, Jefferies Financial Group set a $550.00 price objective on Broadcom 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-nine have given a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Broadcom currently has a consensus rating of "Moderate Buy" and a consensus target price of $493.24.

Key Stories Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Jefferies reiterated its Buy rating on Broadcom and kept a $550 price target, suggesting substantial upside from current levels. Analyst updates Broadcom (AVGO) stock price target
• Positive Sentiment: Erste Group raised its earnings estimates for Broadcom, including higher FY2026 and FY2027 EPS forecasts, reinforcing the view that earnings growth remains strong. Broadcom estimate update
• Positive Sentiment: Coverage around Broadcom’s partnership with OpenAI on the Jalapeño AI accelerator continues to support the company’s AI growth story and long-term demand outlook. What Broadcom (AVGO)'s Jalapeño AI Accelerator Partnership With OpenAI Means For Shareholders
• Neutral Sentiment: Several articles highlighted Broadcom’s recent weakness and “buy the dip” debate, indicating that investor sentiment is cautious but not turning bearish on fundamentals. Broadcom's Stock Has Slumped Over 20% From Its Highs. These Experts Say They Would Buy the Dip
• Negative Sentiment: Reports of heavy insider selling over the past two weeks may weigh on sentiment, as investors often view large insider sales as a cautionary signal. Monster insider trading alert for Broadcom (AVGO) stock

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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