Broadcom Inc. $AVGO Shares Acquired by Oregon Public Employees Retirement Fund

Key Points

• Oregon Public Employees Retirement Fund increased its Broadcom stake by 0.4% in the first quarter, ending with 542,892 shares worth about $168 million. Broadcom is now its 6th-largest holding and makes up 2.2% of the portfolio.
• Broadcom recently reported better-than-expected quarterly results, with EPS of $2.44 versus $2.40 expected and revenue of $22.19 billion versus $22.13 billion estimated. Revenue jumped 47.9% year over year, underscoring continued strong demand.
• The company also announced a quarterly dividend of $0.65 per share, or $2.60 annualized, while analysts remain generally positive with a consensus rating of Moderate Buy and a target price around $493.24. However, some recent insider selling and valuation concerns have added caution after the stock’s rally.

Oregon Public Employees Retirement Fund grew its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 0.4% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 542,892 shares of the semiconductor manufacturer's stock after acquiring an additional 2,032 shares during the quarter. Broadcom comprises 2.2% of Oregon Public Employees Retirement Fund's investment portfolio, making the stock its 6th biggest holding. Oregon Public Employees Retirement Fund's holdings in Broadcom were worth $168,031,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. ROSS JOHNSON & Associates LLC increased its stake in Broadcom by 1,320.0% in the fourth quarter. ROSS JOHNSON & Associates LLC now owns 71 shares of the semiconductor manufacturer's stock valued at $25,000 after purchasing an additional 66 shares during the last quarter. SWAN Capital LLC lifted its position in shares of Broadcom by 261.9% during the 4th quarter. SWAN Capital LLC now owns 76 shares of the semiconductor manufacturer's stock worth $26,000 after buying an additional 55 shares during the last quarter. Networth Advisors LLC lifted its position in shares of Broadcom by 546.2% during the 1st quarter. Networth Advisors LLC now owns 84 shares of the semiconductor manufacturer's stock worth $26,000 after buying an additional 71 shares during the last quarter. Miller Global Investments LLC acquired a new position in shares of Broadcom in the 4th quarter valued at $31,000. Finally, Nvest Wealth Strategies Inc. acquired a new position in shares of Broadcom in the 4th quarter valued at $33,000. Institutional investors and hedge funds own 76.43% of the company's stock.

Insider Activity

In other Broadcom news, Director Gayla J. Delly sold 1,890 shares of the business's stock in a transaction that occurred on Wednesday, July 8th. The stock was sold at an average price of $385.38, for a total transaction of $728,368.20. Following the transaction, the director owned 31,326 shares in the company, valued at approximately $12,072,413.88. The trade was a 5.69% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Mark David Brazeal sold 25,000 shares of the stock in a transaction that occurred on Wednesday, July 8th. The stock was sold at an average price of $379.19, for a total value of $9,479,750.00. Following the transaction, the insider directly owned 219,989 shares of the company's stock, valued at approximately $83,417,628.91. This trade represents a 10.20% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 36,644 shares of company stock valued at $13,982,964. 1.90% of the stock is owned by insiders.

Broadcom Price Performance

Broadcom stock opened at $399.97 on Monday. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.24 and a quick ratio of 2.01. The business has a 50 day simple moving average of $405.29 and a 200-day simple moving average of $364.28. Broadcom Inc. has a 12 month low of $269.58 and a 12 month high of $495.00. The stock has a market capitalization of $1.90 trillion, a PE ratio of 66.66, a price-to-earnings-growth ratio of 0.70 and a beta of 1.45.

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 for the quarter, beating analysts' consensus estimates of $2.40 by $0.04. The firm had revenue of $22.19 billion for the quarter, compared to analyst estimates of $22.13 billion. Broadcom had a net margin of 38.85% and a return on equity of 41.61%. Broadcom's quarterly revenue was up 47.9% on a year-over-year basis. During the same period last year, the firm posted $1.58 EPS. Equities analysts predict that Broadcom Inc. will post 10.24 earnings per share for the current year.

Broadcom Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 22nd were issued a $0.65 dividend. The ex-dividend date of this dividend was Monday, June 22nd. This represents a $2.60 annualized dividend and a dividend yield of 0.7%. Broadcom's payout ratio is presently 43.33%.

Key Broadcom News

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom’s expanded Apple agreement, valued at more than $30 billion through 2031, strengthens visibility for revenue and highlights demand beyond AI chips. Why Broadcom Stock Rose Today
• Positive Sentiment: Analysts remain upbeat on Broadcom’s AI business, with Jefferies reiterating a Buy rating and a $550 price target as AI chip momentum improves. Broadcom’s (AVGO) AI Chip Momentum Keeps Wall Street Bullish
• Positive Sentiment: Broadcom is being viewed as a broader AI infrastructure winner because its networking products help connect large-scale AI systems, expanding the investment thesis beyond GPUs and custom chips. Broadcom stock's latest catalyst targets Nvidia where it looks strongest
• Neutral Sentiment: Some coverage notes Broadcom’s near-$2 trillion market value and strong AI revenue growth, but also suggests much of the good news may already be reflected in the stock. Broadcom Is Less Than 5% From the $2 Trillion Club -- and Apple Just Committed $30 Billion for More Chips
• Negative Sentiment: Erste Group downgraded Broadcom to Hold, citing valuation concerns, which may be limiting upside after the recent rally. Erste Group downgrades Broadcom to Hold citing valuation concerns

Wall Street Analyst Weigh In

Several equities research analysts recently commented on AVGO shares. Jefferies Financial Group set a $550.00 price target on shares of Broadcom and gave the stock a "buy" rating in a research note 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. Susquehanna reissued a "positive" rating and issued a $490.00 target price (up from $450.00) on shares of Broadcom in a report on Thursday, May 28th. Citigroup reissued a "buy" rating on shares of Broadcom in a research report on Thursday, June 4th. Finally, Weiss Ratings downgraded Broadcom from a "buy (b)" rating to a "buy (b-)" rating in a research note on Friday, June 26th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price 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.

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