Lansforsakringar Fondforvaltning AB publ increased its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 0.2% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,741,305 shares of the semiconductor manufacturer's stock after acquiring an additional 4,210 shares during the quarter. Broadcom makes up 2.8% of Lansforsakringar Fondforvaltning AB publ's portfolio, making the stock its 6th biggest position. Lansforsakringar Fondforvaltning AB publ's holdings in Broadcom were worth $538,948,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. ROSS JOHNSON & Associates LLC increased its holdings in Broadcom by 1,320.0% during the 4th quarter. ROSS JOHNSON & Associates LLC now owns 71 shares of the semiconductor manufacturer's stock worth $25,000 after purchasing an additional 66 shares during the last quarter. Networth Advisors LLC boosted its stake in shares of Broadcom by 546.2% during the 1st quarter. Networth Advisors LLC now owns 84 shares of the semiconductor manufacturer's stock valued at $26,000 after buying an additional 71 shares during the last quarter. SWAN Capital LLC boosted its stake in shares of 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 buying an additional 55 shares during the last quarter. Miller Global Investments LLC acquired a new stake in shares of Broadcom during the fourth quarter worth approximately $31,000. Finally, Nvest Wealth Strategies Inc. acquired a new stake in shares of Broadcom during the fourth quarter worth approximately $33,000. Hedge funds and other institutional investors own 76.43% of the company's stock.
Insider Activity
In other news, Director Justine Page sold 1,602 shares of the company'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 transaction of $598,923.72. Following the completion of the transaction, the director directly owned 17,426 shares of the company's stock, valued at approximately $6,514,884.36. This represents a 8.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gayla J. Delly sold 1,000 shares of the company's stock in a transaction that occurred on Thursday, April 9th. The shares were sold at an average price of $358.31, for a total value of $358,310.00. Following the transaction, the director directly owned 32,352 shares of the company's stock, valued at $11,592,045.12. This trade represents a 3.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 60,987 shares of company stock valued at $21,899,980 over the last quarter. Corporate insiders own 1.90% of the company's stock.
Analyst Ratings Changes
A number of brokerages recently issued reports on AVGO. Wall Street Zen upgraded shares of Broadcom from a "buy" rating to a "strong-buy" rating in a research note on Wednesday. Erste Group Bank raised shares of Broadcom from a "hold" rating to a "buy" rating in a report on Friday, June 5th. Zacks Research downgraded shares of Broadcom from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 21st. Dbs Bank upgraded shares of Broadcom to a "moderate buy" rating in a research note on Thursday, June 18th. Finally, DA Davidson increased their price target on shares of Broadcom from $375.00 to $400.00 and gave the stock a "neutral" rating in a research report on Thursday, June 4th. One 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, Broadcom currently has a consensus rating of "Moderate Buy" and an average target price of $493.24.
Check Out Our Latest Analysis on Broadcom
Broadcom Stock Performance
Shares of AVGO opened at $360.45 on Friday. The stock has a market capitalization of $1.71 trillion, a PE ratio of 60.08, a price-to-earnings-growth ratio of 0.65 and a beta of 1.45. The business's fifty day moving average price is $409.17 and its 200 day moving average price is $362.34. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.24 and a quick ratio of 2.01. Broadcom Inc. has a 12-month low of $269.58 and a 12-month high of $495.00.
Broadcom (NASDAQ:AVGO - Get Free Report) last released its earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share for the quarter, beating the consensus estimate of $2.40 by $0.04. The firm had revenue of $22.19 billion during 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%. The firm'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 firm earned $1.58 earnings per share. Equities research analysts forecast that Broadcom Inc. will post 10.24 EPS for the current year.
Broadcom Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 22nd were given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Monday, June 22nd. Broadcom's dividend payout ratio is currently 43.33%.
Key Broadcom News
Here are the key news stories impacting Broadcom this week:
- Positive Sentiment: Wall Street remains upbeat on Broadcom’s AI growth story, with UBS reaffirming a Buy rating and $485 target on strong AI ASIC demand tied to customers like OpenAI and Anthropic. UBS Reaffirms Buy Rating on Broadcom (AVGO) Amid AI ASIC Demand and OpenAI, Anthropic Growth
- Positive Sentiment: Several recent pieces point to Broadcom’s expanding role in custom AI silicon and its OpenAI-related accelerator work, reinforcing the long-term revenue opportunity from AI infrastructure spending.
- Positive Sentiment: Analysts continue to view recent weakness as a buying opportunity, with multiple firms maintaining bullish targets well above the current share price.
- Neutral Sentiment: Commentary this week also highlighted Broadcom as a major beneficiary of the broader semiconductor and AI trade, but much of that optimism simply reiterates an already well-known investment thesis.
- Negative Sentiment: Director Justine Page sold 1,602 shares at $373.86, adding to recent insider-selling headlines that can make investors cautious. SEC Form 4 filing for Justine Page sale
- Negative Sentiment: Broadcom’s post-earnings pullback has continued to draw attention, as investors worry the company’s strong results and guidance still weren’t enough to satisfy very high expectations.
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
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