Broadcom Inc. $AVGO Position Lessened by Evernest Financial Advisors LLC

Evernest Financial Advisors LLC decreased its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 20.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,267 shares of the semiconductor manufacturer's stock after selling 1,636 shares during the period. Evernest Financial Advisors LLC's holdings in Broadcom were worth $2,156,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. ROSS JOHNSON & Associates LLC raised its stake 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 acquiring an additional 66 shares in the last quarter. SWAN Capital LLC raised its stake in Broadcom by 261.9% during the 4th quarter. SWAN Capital LLC now owns 76 shares of the semiconductor manufacturer's stock valued at $26,000 after acquiring an additional 55 shares in the last quarter. Miller Global Investments LLC bought a new stake in Broadcom during the 4th quarter valued at $31,000. Nvest Wealth Strategies Inc. bought a new stake in Broadcom during the 4th quarter valued at $33,000. Finally, Family CFO Inc bought a new stake in Broadcom during the 4th quarter valued at $35,000. Institutional investors own 76.43% of the company's stock.

Insider Activity

In other Broadcom news, CFO Kirsten M. Spears sold 36,292 shares of the business's stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $321.60, for a total transaction of $11,671,507.20. Following the sale, the chief financial officer owned 327,760 shares in the company, valued at approximately $105,407,616. The trade was a 9.97% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Justine Page sold 2,018 shares of Broadcom stock in a transaction on Wednesday, April 8th. The shares were sold at an average price of $353.00, for a total value of $712,354.00. Following the transaction, the director owned 18,164 shares in the company, valued at $6,411,892. This represents a 10.00% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 215,970 shares of company stock worth $71,104,945. 1.90% of the stock is owned by company insiders.

Broadcom Price Performance

NASDAQ AVGO opened at $382.07 on Monday. The stock's 50-day moving average price is $404.26 and its two-hundred day moving average price is $363.22. The company has a current ratio of 2.24, a quick ratio of 2.01 and a debt-to-equity ratio of 0.71. The company has a market cap of $1.82 trillion, a PE ratio of 63.68, a PEG ratio of 0.67 and a beta of 1.41. Broadcom Inc. has a 1 year low of $244.17 and a 1 year high of $495.00.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its quarterly earnings data on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share (EPS) for the quarter, topping the consensus estimate 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 return on equity of 41.61% and a net margin of 38.85%.The business's revenue for the quarter was up 47.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.58 EPS. On average, analysts predict that Broadcom Inc. will post 10.24 EPS for the current year.

Broadcom Announces Dividend

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

Wall Street Analyst Weigh In

Several brokerages have weighed in on AVGO. TD Cowen reaffirmed a "buy" rating and set a $500.00 target price on shares of Broadcom in a research note on Thursday, June 4th. The Goldman Sachs Group reiterated a "buy" rating and set a $525.00 price target on shares of Broadcom in a research report on Thursday, June 4th. Cantor Fitzgerald reiterated an "overweight" rating and set a $525.00 price target on shares of Broadcom in a research report on Thursday, June 4th. Zacks Research cut Broadcom from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 21st. Finally, Rosenblatt Securities reiterated a "buy" rating and set a $500.00 price target on shares of Broadcom in a research report on Thursday, June 4th. One investment analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $490.13.

Key Broadcom News

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom’s quarterly results were very strong, with revenue up 48% to a record $22.2 billion, semiconductor revenue up 79%, AI semiconductor revenue up 143% to $10.8 billion, and more than $30 billion in AI bookings, suggesting demand remains robust. Article Title
• Positive Sentiment: Several analysts and commentators argue the recent drop could be a buying opportunity, saying Broadcom remains a core infrastructure winner in AI and that Wall Street’s long-term outlook is still constructive. Article Title
• Positive Sentiment: Fresh coverage highlighted Broadcom as one of the stocks with catalysts heading into the second half of the year, and some analysts have raised earnings forecasts and price targets despite the selloff. Article Title
• Neutral Sentiment: Jim Cramer said Broadcom’s earnings were “not good” and suggested tech stocks are harder to trust as leadership names, reflecting a more cautious market mood around the stock. Article Title
• Neutral Sentiment: Broadcom also announced cash tender offers for certain outstanding debt securities, a routine balance-sheet move that is unlikely to move the stock by itself. Article Title
• Negative Sentiment: Market commentary says the stock is being punished because investors are nitpicking Broadcom’s AI outlook and pricing the shares as if growth must keep accelerating without any hiccups. Article Title
• Negative Sentiment: One note warned that Broadcom told investors to expect gross profit margins to continue falling, reinforcing concerns that profitability may soften even as revenue grows. Article Title

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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