Greenwich Wealth Management LLC raised its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 11.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 15,164 shares of the semiconductor manufacturer's stock after acquiring an additional 1,535 shares during the quarter. Greenwich Wealth Management LLC's holdings in Broadcom were worth $5,248,000 at the end of the most recent reporting period.
A number of other large investors also recently bought and sold shares of AVGO. Miller Global Investments LLC purchased a new stake in shares of Broadcom in the fourth quarter valued at approximately $31,000. Nvest Wealth Strategies Inc. purchased a new stake in shares of Broadcom in the fourth quarter valued at approximately $33,000. Family CFO Inc purchased a new stake in shares of Broadcom in the fourth quarter valued at approximately $35,000. PayPay Securities Corp increased its position in shares of Broadcom by 88.9% in the fourth quarter. PayPay Securities Corp now owns 119 shares of the semiconductor manufacturer's stock valued at $41,000 after buying an additional 56 shares in the last quarter. Finally, Camelot Portfolios LLC purchased a new stake in shares of Broadcom in the fourth quarter valued at approximately $45,000. 76.43% of the stock is owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other news, CFO Kirsten M. Spears sold 36,292 shares of the company's stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $321.60, for a total value of $11,671,507.20. Following the transaction, the chief financial officer owned 327,760 shares of the company's stock, valued at $105,407,616. This represents a 9.97% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Mark David Brazeal sold 50,488 shares of the company's stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $321.60, for a total value of $16,236,940.80. Following the completion of the transaction, the insider directly owned 278,141 shares in the company, valued at approximately $89,450,145.60. This trade represents a 15.36% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 324,282 shares of company stock worth $106,425,249. Company insiders own 1.90% of the company's stock.
Key Broadcom News
Here are the key news stories impacting Broadcom this week:
- Positive Sentiment: Broadcom posted record quarterly revenue, beat earnings estimates, and said AI semiconductor demand remains strong, supporting the long-term growth story. Broadcom Q2 Earnings Surpasses Estimates, Revenues Surge Y/Y
- Positive Sentiment: Several analysts remain bullish and raised price targets after the pullback, arguing the market is overreacting to expectations rather than fundamentals. Goldman Sachs urges investors to buy Broadcom dip with still AI revenue trajectory intact
- Positive Sentiment: Management still expects AI revenue to reach $56 billion in fiscal 2026 and more than $100 billion in fiscal 2027, keeping the longer-term AI thesis intact. AVGO Shares Drop 13% Post Q2 Results: Buy, Sell or Hold on the Dip?
- Neutral Sentiment: Broadcom also declared a quarterly dividend, which is supportive for income investors but not a major near-term stock driver.
- Negative Sentiment: The stock is under pressure because the AI outlook, while strong, was not upgraded enough to satisfy investors who had priced in an even bigger upside surprise. Broadcom's sales and AI chip forecast comes in below expectations, shares tumble
- Negative Sentiment: The disappointment has spilled over into the semiconductor sector, pressuring peers such as AMD, Intel, Micron, and Marvell as investors reassess AI trade valuations. Intel, AMD stocks slide again in aftermath of Broadcom's weak outlook
Analyst Ratings Changes
A number of analysts have recently commented on AVGO shares. UBS Group set a $485.00 price objective on Broadcom and gave the company a "buy" rating in a research report on Thursday. Jefferies Financial Group set a $550.00 price objective on Broadcom and gave the company a "buy" rating in a research report on Thursday. Cantor Fitzgerald restated an "overweight" rating and issued a $525.00 price objective on shares of Broadcom in a research report on Thursday. Wall Street Zen cut Broadcom from a "buy" rating to a "hold" rating in a research report on Saturday, May 30th. Finally, Evercore restated an "outperform" rating and issued a $582.00 price objective on shares of Broadcom in a research report on Tuesday, May 19th. One investment analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $490.13.
Read Our Latest Research Report on AVGO
Broadcom Stock Down 7.9%
Shares of AVGO opened at $385.73 on Friday. Broadcom Inc. has a 52-week low of $241.11 and a 52-week high of $495.00. The company has a market capitalization of $1.83 trillion, a PE ratio of 64.29, a price-to-earnings-growth ratio of 0.86 and a beta of 1.41. The stock has a fifty day simple moving average of $396.22 and a two-hundred day simple moving average of $361.90. The company has a quick ratio of 1.73, a current ratio of 2.24 and a debt-to-equity ratio of 0.71.
Broadcom (NASDAQ:AVGO - Get Free Report) last issued its earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share (EPS) for the quarter, topping 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 business had revenue of $22.19 billion during the quarter, compared to the consensus estimate of $22.13 billion. During the same period last year, the company earned $1.58 EPS. The company's revenue for the quarter was up 47.9% on a year-over-year basis. As a group, equities analysts forecast that Broadcom Inc. will post 9.97 EPS for the current year.
Broadcom Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 22nd will be paid a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Monday, June 22nd. Broadcom's dividend payout ratio is 43.33%.
Broadcom Company Profile
(
Free Report)
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.
Further Reading
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).
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