Broadcom Inc. $AVGO Shares Purchased by Bleakley Financial Group LLC

Key Points

• Bleakley Financial Group LLC increased its Broadcom stake by 2.5% in the first quarter, buying 4,603 additional shares and bringing its total to 186,537 shares worth about $57.7 million.
• Broadcom continues to draw mixed insider activity and strong institutional interest. While insider Mark David Brazeal sold 25,000 shares, director Harry L. You bought 1,000 shares, and institutional investors still own about 76.43% of the stock.
• Wall Street remains broadly bullish on AVGO. Analysts hold a consensus “Moderate Buy” rating with a $493.24 average price target, while Broadcom also reported quarterly earnings and revenue that slightly beat estimates and raised its annual dividend to $2.60 per share.

Bleakley Financial Group LLC boosted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 2.5% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 186,537 shares of the semiconductor manufacturer's stock after purchasing an additional 4,603 shares during the quarter. Broadcom makes up approximately 0.9% of Bleakley Financial Group LLC's holdings, making the stock its 24th largest holding. Bleakley Financial Group LLC's holdings in Broadcom were worth $57,735,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in AVGO. ROSS JOHNSON & Associates LLC grew its position in shares of Broadcom by 1,320.0% during the fourth quarter. ROSS JOHNSON & Associates LLC now owns 71 shares of the semiconductor manufacturer's stock worth $25,000 after buying an additional 66 shares in the last quarter. Networth Advisors LLC raised its holdings in Broadcom by 546.2% in the first quarter. Networth Advisors LLC now owns 84 shares of the semiconductor manufacturer's stock valued at $26,000 after acquiring an additional 71 shares in the last quarter. SWAN Capital LLC boosted its stake in 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 acquiring an additional 55 shares during the last quarter. Miller Global Investments LLC bought a new position in Broadcom during the 4th quarter valued at $31,000. Finally, Nvest Wealth Strategies Inc. bought a new position in Broadcom during the 4th quarter valued at $33,000. 76.43% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Mark David Brazeal sold 25,000 shares of the company's stock in a transaction dated Friday, July 10th. The shares were sold at an average price of $401.33, for a total value of $10,033,250.00. Following the completion of the sale, the insider owned 194,989 shares of the company's stock, valued at $78,254,935.37. This represents a 11.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Harry L. You acquired 1,000 shares of Broadcom stock in a transaction that occurred on Thursday, June 11th. The stock was bought at an average cost of $373.57 per share, with a total value of $373,570.00. Following the acquisition, the director directly owned 38,466 shares of the company's stock, valued at approximately $14,369,743.62. This trade represents a 2.67% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last ninety days, insiders sold 61,644 shares of company stock worth $24,016,214. 1.90% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

AVGO has been the subject of several research analyst reports. Rosenblatt Securities reissued a "buy" rating and issued a $500.00 target price on shares of Broadcom in a research report on Thursday, June 4th. Morgan Stanley set a $502.00 price target on shares of Broadcom and gave the stock an "overweight" rating in a research report on Thursday, June 4th. Dbs Bank raised shares of Broadcom to a "moderate buy" rating in a research report on Thursday, June 18th. Benchmark lifted their price target on Broadcom from $485.00 to $545.00 and gave the stock a "buy" rating in a research note on Thursday, June 4th. Finally, Zacks Research lowered Broadcom from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 21st. One research 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 company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $493.24.

Key Broadcom News

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom announced a long-term strategic commitment with Standard Chartered to modernize global banking infrastructure using a secure private cloud foundation, highlighting another enterprise customer win and supporting the company’s recurring infrastructure-software and semiconductor growth story. Standard Chartered Selects Broadcom to Deliver Secure, Always-On Banking Services at Global Scale
• Positive Sentiment: Multiple commentaries framed Broadcom as a core AI beneficiary, with articles saying its AI moat is expanding and that it remains one of the biggest winners from AI infrastructure spending. Broadcom's AI Moat Keeps Expanding
• Positive Sentiment: Analysts have been boosting price targets despite recent weakness, suggesting Wall Street still expects meaningful upside if Broadcom’s AI and custom-chip momentum continues. As Shares Fall, Analyst Are Boosting Their Broadcom Price Targets
• Neutral Sentiment: Broadcom remains a frequent topic in bullish valuation pieces and long-term price-prediction articles, but these are mainly sentiment drivers rather than immediate catalysts. Price Prediction: Nvidia, AMD & Broadcom-Our Bold Price Predictions for 2029
• Negative Sentiment: Semiconductor shares sold off broadly on worries that AI capex growth may be slowing, and Broadcom was caught up in the sector-wide decline. Marvell Drops 8% as AI Capex Slowdown Fears Weigh on Chips; Broadcom, AMD, and Intel Slide
• Negative Sentiment: An insider sale by Broadcom executive Mark David Brazeal also weighed on sentiment, as investors often view large insider selling as a caution sign even when fundamentals remain strong. Broadcom Inc. NASDAQ: AVGO Insider Mark David Brazeal Sells 25,000 Shares

Broadcom Stock Performance

Shares of NASDAQ AVGO opened at $374.45 on Friday. The company has a current ratio of 2.24, a quick ratio of 2.01 and a debt-to-equity ratio of 0.71. The stock has a 50 day simple moving average of $402.47 and a 200-day simple moving average of $365.27. The company has a market cap of $1.78 trillion, a PE ratio of 62.41, a P/E/G ratio of 0.69 and a beta of 1.45. Broadcom Inc. has a 12-month low of $273.00 and a 12-month high of $495.00.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its quarterly earnings data 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 analyst estimates of $22.13 billion. During the same period in the prior year, the company posted $1.58 EPS. The business's revenue for the quarter was up 47.9% compared to the same quarter last year. On average, equities research analysts forecast that Broadcom Inc. will post 10.24 EPS for the current year.

Broadcom Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 22nd were paid 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 dividend payout ratio is presently 43.33%.

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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