Broadcom Inc. $AVGO Shares Purchased by Gryphon Financial Partners LLC

Key Points

• Gryphon Financial Partners LLC increased its Broadcom stake by 13.6% in the first quarter, buying 3,539 more shares and bringing its holdings to 29,605 shares worth about $9.16 million.
• Broadcom reported strong quarterly results, with EPS of $2.44 beating estimates and revenue of $22.19 billion, up 47.9% year over year. Analysts now have a consensus rating of Moderate Buy with a target price around $493.24.
• The company also paid a quarterly dividend of $0.65 per share, equal to an annualized $2.60 payout and a 0.7% yield. Recent insider activity was mixed, with one director buying shares while another executive sold stock.

Gryphon Financial Partners LLC raised its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 13.6% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 29,605 shares of the semiconductor manufacturer's stock after buying an additional 3,539 shares during the quarter. Broadcom makes up about 0.9% of Gryphon Financial Partners LLC's investment portfolio, making the stock its 19th largest holding. Gryphon Financial Partners LLC's holdings in Broadcom were worth $9,163,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of AVGO. Arcus Capital Partners LLC grew its position in shares of Broadcom by 64.9% during the first quarter. Arcus Capital Partners LLC now owns 2,348 shares of the semiconductor manufacturer's stock worth $727,000 after acquiring an additional 924 shares during the last quarter. Astra Wealth Partners LLC lifted its position in Broadcom by 5.2% in the 1st quarter. Astra Wealth Partners LLC now owns 2,038 shares of the semiconductor manufacturer's stock valued at $631,000 after purchasing an additional 101 shares during the last quarter. Assetmark Inc. boosted its stake in Broadcom by 1.1% during the 1st quarter. Assetmark Inc. now owns 1,609,089 shares of the semiconductor manufacturer's stock valued at $498,029,000 after purchasing an additional 17,382 shares during the period. NovaPoint Capital LLC boosted its stake in Broadcom by 4.8% during the 1st quarter. NovaPoint Capital LLC now owns 30,054 shares of the semiconductor manufacturer's stock valued at $9,302,000 after purchasing an additional 1,365 shares during the period. Finally, PeakShares LLC grew its position in Broadcom by 29.6% in the 1st quarter. PeakShares LLC now owns 3,436 shares of the semiconductor manufacturer's stock worth $1,063,000 after purchasing an additional 784 shares during the last quarter. Institutional investors and hedge funds own 76.43% of the company's stock.

Broadcom Stock Up 2.0%

AVGO opened at $378.16 on Tuesday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.01 and a current ratio of 2.24. The company has a market capitalization of $1.80 trillion, a PE ratio of 63.03, a P/E/G ratio of 0.65 and a beta of 1.45. The stock's fifty day moving average is $400.28 and its 200-day moving average is $365.62. Broadcom Inc. has a one year low of $273.00 and a one year high of $495.00.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced 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 business had revenue of $22.19 billion during the quarter, compared to analysts' expectations of $22.13 billion. Broadcom had a return on equity of 41.61% and a net margin of 38.85%.The company's quarterly revenue was up 47.9% on a year-over-year basis. During the same quarter last year, the business posted $1.58 earnings per share. On average, equities analysts predict that Broadcom Inc. will post 10.24 EPS for the current fiscal year.

Broadcom Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 22nd were given a dividend of $0.65 per share. The ex-dividend date was Monday, June 22nd. This represents a $2.60 annualized dividend and a dividend yield of 0.7%. Broadcom's dividend payout ratio (DPR) is 43.33%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on AVGO shares. Benchmark lifted their price target on Broadcom from $485.00 to $545.00 and gave the company a "buy" rating in a report on Thursday, June 4th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and issued a $515.00 price objective (up from $430.00) on shares of Broadcom in a report on Thursday, June 4th. Seaport Research Partners restated a "neutral" rating on shares of Broadcom in a research report on Wednesday, April 8th. Morgan Stanley set a $502.00 target price on Broadcom and gave the company an "overweight" rating in a research note on Thursday, June 4th. Finally, Royal Bank Of Canada boosted their price target on Broadcom from $360.00 to $400.00 and gave the stock a "sector perform" rating in a research report on Thursday, June 4th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $493.24.

More Broadcom News

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Morgan Stanley said Broadcom remains one of its preferred ways to play the AI infrastructure buildout, calling AVGO an attractive risk-reward name after the recent semiconductor pullback. Broadcom stock gains 2% today: here's why
• Positive Sentiment: Analysts and market commentary highlighted Broadcom as a high-cash-flow AI chip stock that could benefit as investors look for quality names amid market volatility. 4 High Cash-Producing AI Chip Stocks to Buy Amid Market Uncertainties
• Positive Sentiment: Broadcom’s AI business is being viewed as a key driver of the investment case, with reports noting strong AI chip revenue growth and a larger shift toward AI-related mix. AMD vs. Broadcom: The Better AI-Chip Stock to Buy After the Sell-Off
• Positive Sentiment: Broadcom also announced a major infrastructure software deal with Standard Chartered to modernize banking cloud operations across 54 markets, which supports its VMware-based software revenue stream. Broadcom (AVGO) Lands Standard Chartered Deal To Power Banking Cloud In 54 Markets
• Neutral Sentiment: Broadcom was included in broader “buy the dip” chip-sector commentary as investors looked for value after the recent memory and AI semiconductor sell-off. The Memory Stock Sell-Off Created a ‘Strong Entry Point,' Says Morgan Stanley. Investors Are Buying In.
• Negative Sentiment: Recent articles also noted that semiconductor stocks had fallen into a bear market after a sharp index decline, reflecting ongoing sectorwide pressure that could cap gains for AVGO. Semiconductor stocks enter bear market: Is bubble burst next?

Insider Buying and Selling at Broadcom

In other Broadcom news, Director Harry L. You acquired 1,000 shares of the stock in a transaction dated Thursday, June 11th. The shares were bought at an average price of $373.57 per share, with a total value of $373,570.00. Following the purchase, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Mark David Brazeal sold 25,000 shares of the business's stock in a transaction that occurred on Friday, July 10th. The stock was sold at an average price of $401.33, for a total transaction of $10,033,250.00. Following the completion of the sale, the insider owned 194,989 shares in the company, valued at $78,254,935.37. The trade was a 11.36% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 61,644 shares of company stock worth $24,016,214. Company insiders own 1.90% of the company's stock.

Broadcom Company 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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