Broadcom Inc. $AVGO Shares Acquired by Kathmere Capital Management LLC

Key Points

• Kathmere Capital Management increased its Broadcom stake by 49.4% in the first quarter, adding 6,075 shares and bringing its total holdings to 18,366 shares worth about $5.68 million.
• Broadcom continues to attract institutional interest, with institutions and hedge funds owning 76.43% of the stock. Several large investors, including Norges Bank, State Street, and Vanguard, reported sizable positions.
• Business momentum remains strong: Broadcom beat quarterly EPS and revenue estimates, its dividend was recently paid, and analysts remain broadly positive with a “Moderate Buy” consensus and an average price target near $493.

Kathmere Capital Management LLC lifted its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 49.4% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 18,366 shares of the semiconductor manufacturer's stock after buying an additional 6,075 shares during the quarter. Kathmere Capital Management LLC's holdings in Broadcom were worth $5,684,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AVGO. Norges Bank purchased a new stake in shares of Broadcom during the fourth quarter valued at approximately $24,252,196,000. Cardano Risk Management B.V. boosted its stake in shares of Broadcom by 895.2% in the fourth quarter. Cardano Risk Management B.V. now owns 12,689,800 shares of the semiconductor manufacturer's stock valued at $4,391,940,000 after purchasing an additional 11,414,701 shares during the period. State Street Corp grew its holdings in Broadcom by 2.7% during the 4th quarter. State Street Corp now owns 190,084,351 shares of the semiconductor manufacturer's stock valued at $65,788,194,000 after purchasing an additional 5,040,801 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in Broadcom by 499.4% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 5,634,232 shares of the semiconductor manufacturer's stock valued at $1,858,789,000 after purchasing an additional 4,694,313 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in Broadcom by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 482,707,302 shares of the semiconductor manufacturer's stock worth $167,064,997,000 after buying an additional 3,919,715 shares during the period. 76.43% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Justine Page sold 1,602 shares of the business's stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $373.86, for a total value of $598,923.72. Following the completion of the sale, the director directly owned 17,426 shares in the company, valued at approximately $6,514,884.36. The trade was a 8.42% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Mark David Brazeal sold 4,825 shares of the company'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 sale, the insider directly owned 269,989 shares in the company, valued at approximately $106,621,355.99. This represents a 1.76% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 9,754 shares of company stock worth $3,774,846. 1.90% of the stock is currently owned by insiders.

Trending Headlines about Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Apple’s multiyear agreement to buy more than $30 billion of Broadcom chips through 2031 reinforces demand for Broadcom’s custom silicon and U.S. manufacturing strategy. Reuters: Apple to spend $30 billion in Broadcom chips deal that will see Colorado factory expand
• Positive Sentiment: Wall Street remains upbeat on Broadcom’s AI chip momentum, with Jefferies reiterating a Buy rating and a $550 price target on improving AI-related growth prospects. Broadcom’s (AVGO) AI Chip Momentum Keeps Wall Street Bullish
• Positive Sentiment: Broader semiconductor sentiment improved as the AI trade rebounded, with analysts and market commentators viewing the recent selloff as a buying opportunity for chip stocks like Broadcom. Broadcom, Intel, Corning, Marvell, and More Stocks That Explain Today's Market
• Neutral Sentiment: Zacks highlighted Broadcom as a dividend-paying AI infrastructure name, underscoring its mix of income and AI exposure, but this was more of a stock-picking view than a new company-specific catalyst. These Dividend Paying Stocks Offer Strong Exposure to AI Trends
• Negative Sentiment: Erste Group downgraded Broadcom to Hold, citing valuation concerns, which may temper some of the enthusiasm after the recent rally. Erste Group downgrades Broadcom to Hold citing valuation concerns

Broadcom Stock Performance

Shares of Broadcom stock opened at $401.11 on Friday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.01 and a current ratio of 2.24. Broadcom Inc. has a 1 year low of $269.58 and a 1 year high of $495.00. The firm's 50-day simple moving average is $405.40 and its 200-day simple moving average is $363.87. The firm has a market cap of $1.91 trillion, a PE ratio of 66.85, a price-to-earnings-growth ratio of 0.68 and a beta of 1.45.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its quarterly earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 EPS for the quarter, topping analysts' consensus estimates of $2.40 by $0.04. The business had revenue of $22.19 billion during 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 company's revenue for the quarter was up 47.9% compared to the same quarter last year. During the same period last year, the firm earned $1.58 earnings per share. Equities analysts forecast that Broadcom Inc. will post 10.24 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 22nd were given a $0.65 dividend. The ex-dividend date was Monday, June 22nd. This represents a $2.60 annualized dividend and a dividend yield of 0.6%. Broadcom's dividend payout ratio (DPR) is presently 43.33%.

Analyst Ratings Changes

AVGO has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. boosted their price objective on shares of Broadcom from $500.00 to $580.00 and gave the stock an "overweight" rating in a report on Thursday, June 4th. Wells Fargo & Company restated an "overweight" rating and set a $545.00 target price (up from $430.00) on shares of Broadcom in a research note on Thursday, May 14th. Morgan Stanley set a $502.00 target price on Broadcom and gave the stock an "overweight" rating in a research report on Thursday, June 4th. Erste Group Bank reiterated a "hold" rating on shares of Broadcom in a research note on Tuesday. Finally, The Goldman Sachs Group reissued a "buy" rating and issued a $525.00 price target on shares of Broadcom in a report on Thursday, June 4th. One analyst has rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $493.24.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.