Broadcom Inc. $AVGO Shares Bought by DGS Capital Management LLC

Key Points

• DGS Capital Management boosted its Broadcom stake by 13.5% in the first quarter, buying 2,064 more shares and bringing its holdings to 17,374 shares worth about $5.38 million.
• Broadcom continues to draw strong institutional and analyst attention, with institutional investors owning 76.43% of the stock and the consensus analyst rating remaining Moderate Buy.
• The company posted solid quarterly results, beating earnings expectations with $2.44 EPS and $22.19 billion in revenue, while also benefiting from positive news around Apple’s $30 billion chip deal and ongoing AI demand.

DGS Capital Management LLC raised its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 13.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 17,374 shares of the semiconductor manufacturer's stock after purchasing an additional 2,064 shares during the quarter. Broadcom accounts for 0.9% of DGS Capital Management LLC's investment portfolio, making the stock its 17th biggest holding. DGS Capital Management LLC's holdings in Broadcom were worth $5,377,000 as of its most recent filing with the Securities and Exchange Commission.

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

Insider Activity

In other news, insider Mark David Brazeal sold 4,825 shares of Broadcom stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $394.91, for a total value 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. The trade was a 1.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Justine Page sold 1,602 shares of the business's stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $373.86, for a total value of $598,923.72. Following the sale, the director owned 17,426 shares of the company's stock, valued at $6,514,884.36. The trade was a 8.42% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 9,754 shares of company stock valued at $3,774,846 in the last three months. Corporate insiders own 1.90% of the company's stock.

Broadcom News Roundup

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

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on AVGO shares. Oppenheimer reiterated an "outperform" rating and set a $535.00 price target (up from $450.00) on shares of Broadcom in a research report on Thursday, June 4th. Seaport Research Partners reiterated a "neutral" rating on shares of Broadcom in a research report on Wednesday, April 8th. Cantor Fitzgerald reissued an "overweight" rating and issued a $525.00 target price on shares of Broadcom in a report on Thursday, June 4th. Wall Street Zen upgraded shares of Broadcom from a "buy" rating to a "strong-buy" rating in a research report on Wednesday, July 1st. Finally, Citigroup reiterated a "buy" rating on shares of Broadcom in a research report on Thursday, June 4th. One research analyst has rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $493.24.

Broadcom Trading Up 3.2%

AVGO stock opened at $401.11 on Friday. The company has a quick ratio of 2.01, a current ratio of 2.24 and a debt-to-equity ratio of 0.71. The company has a market cap of $1.91 trillion, a price-to-earnings ratio of 66.85, a PEG ratio of 0.68 and a beta of 1.45. The business has a fifty day simple moving average of $405.40 and a 200-day simple moving average of $363.87. Broadcom Inc. has a 52 week low of $269.58 and a 52 week high of $495.00.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its earnings results 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. Broadcom had a return on equity of 41.61% and a net margin of 38.85%.The firm had revenue of $22.19 billion for the quarter, compared to analysts' expectations of $22.13 billion. During the same quarter last year, the firm earned $1.58 earnings per share. The firm's revenue for the quarter was up 47.9% compared to the same quarter last year. On average, equities research analysts expect that Broadcom Inc. will post 10.24 EPS for the current year.

Broadcom Announces Dividend

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

About Broadcom

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.

Want to see what other hedge funds are holding AVGO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Broadcom Inc. (NASDAQ:AVGO - Free Report).

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.