Broadcom Inc. $AVGO Shares Sold by EJMK Ventures LLC

Key Points

• EJMK Ventures LLC reduced its Broadcom stake by 19% in the first quarter, selling 1,834 shares and leaving it with 7,838 shares valued at about $2.43 million.
• Broadcom continues to draw bullish analyst support thanks to AI-related growth expectations, including custom AI chip demand and its work with OpenAI on the “Jalapeño” accelerator.
• The company’s latest results were strong, with EPS of $2.44 and revenue of $22.19 billion, both topping estimates; however, the stock has still been under pressure and recently traded well below its 52-week high.

EJMK Ventures LLC lessened its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 19.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,838 shares of the semiconductor manufacturer's stock after selling 1,834 shares during the period. Broadcom accounts for about 1.4% of EJMK Ventures LLC's investment portfolio, making the stock its 16th biggest holding. EJMK Ventures LLC's holdings in Broadcom were worth $2,426,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. ROSS JOHNSON & Associates LLC grew its position in Broadcom by 1,320.0% in the 4th quarter. ROSS JOHNSON & Associates LLC now owns 71 shares of the semiconductor manufacturer's stock valued at $25,000 after buying an additional 66 shares in the last quarter. SWAN Capital LLC raised its position in shares of Broadcom by 261.9% during the 4th quarter. SWAN Capital LLC now owns 76 shares of the semiconductor manufacturer's stock worth $26,000 after buying an additional 55 shares in the last quarter. Networth Advisors LLC lifted its stake in shares of Broadcom by 546.2% in the 1st quarter. Networth Advisors LLC now owns 84 shares of the semiconductor manufacturer's stock worth $26,000 after acquiring an additional 71 shares during the period. Miller Global Investments LLC bought a new position in shares of Broadcom in the fourth quarter valued at approximately $31,000. Finally, Nvest Wealth Strategies Inc. bought a new position in shares of Broadcom in the fourth quarter valued at approximately $33,000. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Trending Headlines about Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: JPMorgan, UBS, Jefferies and other analysts remain constructive on Broadcom’s AI-driven growth, with price targets well above current levels and continued optimism around custom AI silicon demand, including exposure to customers such as OpenAI and Anthropic. UBS Reaffirms Buy Rating on Broadcom (AVGO) Amid AI ASIC Demand and OpenAI, Anthropic Growth
• Positive Sentiment: Articles highlighting Broadcom’s partnership with OpenAI on the “Jalapeño” AI accelerator reinforce the market’s bullish view that AI infrastructure can keep driving revenue growth. What Broadcom (AVGO)'s Jalapeño AI Accelerator Partnership With OpenAI Means For Shareholders
• Neutral Sentiment: Several recent write-ups argue Broadcom may be attractive after its pullback, but they mostly restate the same long-term thesis rather than pointing to a new catalyst. Why Broadcom Stock Slumped Today
• Neutral Sentiment: Investors continue to search for clues on whether Broadcom can rebound from its post-earnings decline, with coverage focusing on earnings estimates and fair-value changes. Broadcom (AVGO) Stock Gets Fair Value Boost As Analysts Split On AI Outlook
• Negative Sentiment: Director Justine Page sold 1,602 shares of Broadcom stock, extending insider-selling headlines that can weigh on sentiment even if the sale is relatively small versus the company’s size. SEC Form 4 filing for Justine Page sale
• Negative Sentiment: Broadcom remains about 14% below its last earnings report level, and recent commentary suggests investors are still uneasy about whether the company’s strong results were enough to justify its premium valuation. Broadcom Inc. (AVGO) Down 14% Since Last Earnings Report: Can It Rebound?

Wall Street Analysts Forecast Growth

A number of research firms recently commented on AVGO. Morgan Stanley set a $502.00 price objective on shares of Broadcom and gave the company an "overweight" rating in a research note on Thursday, June 4th. Truist Financial increased their price target on Broadcom from $545.00 to $550.00 and gave the company a "buy" rating in a research note on Thursday, June 4th. 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. KeyCorp reissued an "overweight" rating and issued a $575.00 price objective (up from $500.00) on shares of Broadcom in a research note on Thursday, June 4th. Finally, UBS Group set a $485.00 price objective on Broadcom and gave the company a "buy" rating in a report on Thursday, June 4th. One research analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $493.24.

Broadcom Stock Performance

Shares of NASDAQ:AVGO opened at $360.45 on Monday. The stock has a market capitalization of $1.71 trillion, a price-to-earnings ratio of 60.08, a PEG ratio of 0.63 and a beta of 1.45. Broadcom Inc. has a 1-year low of $269.58 and a 1-year high of $495.00. 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 50 day moving average price of $407.92 and a 200 day moving average price of $362.49.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its quarterly earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.40 by $0.04. The firm had revenue of $22.19 billion for 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 quarterly revenue was up 47.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.58 earnings per share. On average, research analysts anticipate that Broadcom Inc. will post 10.24 EPS for the current fiscal year.

Broadcom Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors 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 0.7%. The ex-dividend date was Monday, June 22nd. Broadcom's payout ratio is presently 43.33%.

Insider Activity at Broadcom

In related news, Director Harry L. You purchased 1,000 shares of the firm's stock in a transaction that occurred on Thursday, June 11th. The stock was acquired at an average price of $373.57 per share, for a total transaction of $373,570.00. Following the transaction, the director directly owned 38,466 shares of the company's stock, valued at $14,369,743.62. This trade represents a 2.67% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider S. Ram Velaga sold 8,000 shares of Broadcom stock in a transaction dated Friday, April 10th. The stock was sold at an average price of $370.52, for a total value of $2,964,160.00. Following the completion of the transaction, the insider directly owned 57,932 shares in the company, valued at $21,464,964.64. This represents a 12.13% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 60,987 shares of company stock valued at $21,899,980 over the last ninety days. 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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