Broadcom Inc. $AVGO Stock Holdings Decreased by IFP Advisors Inc

Key Points

• IFP Advisors cut its Broadcom stake by 3.3% in the second quarter, selling 2,957 shares and retaining 87,886 shares valued at approximately $33.2 million. Institutional investors collectively own 76.43% of Broadcom.
• Analyst sentiment remains positive, with 28 Buy ratings and four Holds, producing a consensus “Moderate Buy” rating and an average price target of $493.24.
• Broadcom reported quarterly revenue of $22.19 billion, up 47.9% year over year, and earnings of $2.44 per share, exceeding estimates. The stock opened at $393.05, while insiders sold $24.0 million of shares over the past 90 days.

IFP Advisors Inc lessened its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 3.3% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 87,886 shares of the semiconductor manufacturer's stock after selling 2,957 shares during the quarter. IFP Advisors Inc's holdings in Broadcom were worth $33,199,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. ROSS JOHNSON & Associates LLC raised its stake in Broadcom by 1,320.0% during the fourth 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 lifted its holdings in 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 during the last quarter. Networth Advisors LLC grew its position 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 in the last quarter. Nvest Wealth Strategies Inc. bought a new stake in shares of Broadcom in the 4th quarter valued at approximately $33,000. Finally, Family CFO Inc bought a new stake in shares of Broadcom in the 4th quarter valued at approximately $35,000. Institutional investors own 76.43% of the company's stock.

Insider Activity

In related news, Director Gayla J. Delly sold 1,890 shares of Broadcom stock in a transaction dated Wednesday, July 8th. The shares were sold at an average price of $385.38, for a total value of $728,368.20. Following the sale, the director directly owned 31,326 shares in the company, valued at $12,072,413.88. This trade represents a 5.69% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Harry L. You bought 1,000 shares of Broadcom stock in a transaction on Thursday, June 11th. The shares were purchased at an average cost of $373.57 per share, with a total value of $373,570.00. Following the completion of the purchase, the director directly owned 38,466 shares in the company, valued at $14,369,743.62. This trade represents a 2.67% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders sold 61,644 shares of company stock worth $24,016,214 in the last 90 days. 1.90% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities analysts recently issued reports on AVGO shares. Evercore restated an "outperform" rating and set a $582.00 price objective on shares of Broadcom in a research note on Tuesday, May 19th. Citigroup reiterated a "buy" rating on shares of Broadcom in a research note on Thursday, June 4th. Royal Bank Of Canada increased their target price on shares of Broadcom from $360.00 to $400.00 and gave the stock a "sector perform" rating in a report on Thursday, June 4th. Benchmark raised their price target on shares of Broadcom from $485.00 to $545.00 and gave the stock a "buy" rating in a research report on Thursday, June 4th. Finally, Zacks Research lowered shares of Broadcom from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 21st. Twenty-eight analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $493.24.

More Broadcom News

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom’s custom-silicon and XPU opportunity remains a key long-term catalyst. Analysts and commentators point to accelerating AI infrastructure spending, major customer agreements, and potential growth in custom chips and networking. Broadcom: XPU Growth Trajectory Underestimated, Stock A Bargain
• Positive Sentiment: Wall Street’s average price target implies substantial upside from recent trading levels, supporting the bullish view that the market may be underestimating Broadcom’s AI growth trajectory. Broadcom is Down Over 3 Months: One Wall Street Pro Sees 60%+ Gains Ahead
• Positive Sentiment: Continued institutional interest, including purchases by GAMCO Investors and Cathie Wood’s reported investment, provides some additional support for the stock’s long-term AI investment case. Cathie Wood buys $16.2 million of Broadcom

Broadcom Trading Down 5.9%

NASDAQ:AVGO opened at $393.05 on Friday. Broadcom Inc. has a 12-month low of $281.87 and a 12-month high of $495.00. The firm has a market capitalization of $1.87 trillion, a P/E ratio of 65.51, a P/E/G ratio of 0.80 and a beta of 1.45. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.24 and a quick ratio of 2.01. The business has a 50 day simple moving average of $389.79 and a 200 day simple moving average of $373.30.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share 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 return on equity of 41.61% and a net margin of 38.85%.The firm's revenue for the quarter was up 47.9% on a year-over-year basis. During the same period last year, the company earned $1.58 earnings per share. Equities research analysts predict that Broadcom Inc. will post 10.24 EPS for the current year.

Broadcom Dividend Announcement

The company also recently disclosed 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 of this dividend was Monday, June 22nd. Broadcom's dividend payout ratio (DPR) is 43.33%.

About Broadcom

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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