Buffalo Business & Estate Services Ltd. Buys 2,367 Shares of Broadcom Inc. $AVGO

Key Points

• Buffalo Business & Estate Services Ltd. increased its Broadcom stake by 8.3% in the first quarter, buying 2,367 more shares and bringing its holdings to 30,718 shares worth about $9.5 million.
• Broadcom continues to attract attention from institutions and analysts, with hedge funds and other institutions owning 76.43% of the stock and several firms recently raising price targets or reiterating bullish ratings.
• The company reported strong quarterly results, with EPS of $2.44 and revenue of $22.19 billion, while also announcing a quarterly dividend of $0.65 per share. Broadcom shares were trading down 0.8% at $378.91 in Friday’s session.

Buffalo Business & Estate Services Ltd. boosted its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 8.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 30,718 shares of the semiconductor manufacturer's stock after purchasing an additional 2,367 shares during the period. Broadcom comprises approximately 1.4% of Buffalo Business & Estate Services Ltd.'s portfolio, making the stock its 11th biggest holding. Buffalo Business & Estate Services Ltd.'s holdings in Broadcom were worth $9,507,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the company. ROSS JOHNSON & Associates LLC grew its stake in shares of 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 acquiring an additional 66 shares during the period. SWAN Capital LLC raised its stake in Broadcom by 261.9% in 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 period. Miller Global Investments LLC purchased a new stake in Broadcom during the fourth quarter valued at about $31,000. Nvest Wealth Strategies Inc. purchased a new stake in Broadcom during the fourth quarter valued at about $33,000. Finally, Family CFO Inc bought a new position in Broadcom during the fourth quarter worth about $35,000. Hedge funds and other institutional investors own 76.43% of the company's stock.

Trending Headlines about Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom and OpenAI unveiled Jalapeño, a custom AI inference chip that could strengthen Broadcom’s role in next-generation AI infrastructure and generate new demand for its networking and accelerator products. Reuters article on OpenAI/Broadcom custom chip
• Positive Sentiment: Broadcom was also tied to a new $35 billion AI platform aimed at expanding data-center compute capacity, reinforcing the company’s exposure to multi-year AI spending. Yahoo Finance article on AI platform
• Neutral Sentiment: Market commentary suggested semiconductor weakness may be a buying opportunity, but broader AI sentiment remains uneven as investors question which parts of the ecosystem will see the biggest payoff. 247WallSt article on chip stocks
• Neutral Sentiment: Broadcom’s short-interest update reported 0 shares outstanding, which does not provide a meaningful signal for investors.
• Negative Sentiment: Despite the positive AI headlines, AVGO has also been pressured by broader semiconductor volatility and reports of weakness in parts of the AI-chip complex. Yahoo Finance article on AVGO weakness

Insider Transactions at Broadcom

In other news, insider Charlie B. Kawwas sold 10,000 shares of the company's stock in a transaction on Wednesday, April 8th. The shares were sold at an average price of $345.23, for a total value of $3,452,300.00. Following the transaction, the insider owned 787,184 shares of the company's stock, valued at approximately $271,759,532.32. This represents a 1.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Mark David Brazeal sold 4,825 shares of Broadcom stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $394.91, for a total value of $1,905,440.75. Following the sale, the insider directly owned 269,989 shares of the company's stock, valued at $106,621,355.99. This represents a 1.76% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 59,385 shares of company stock worth $21,301,057. 1.90% of the stock is owned by corporate insiders.

Analyst Ratings Changes

AVGO has been the subject of several recent research reports. TD Cowen reiterated a "buy" rating and issued a $500.00 target price on shares of Broadcom in a research note on Thursday, June 4th. Dbs Bank upgraded shares of Broadcom to a "moderate buy" rating in a research note on Thursday, June 18th. JPMorgan Chase & Co. raised their price objective on shares of Broadcom from $500.00 to $580.00 and gave the stock an "overweight" rating in a report on Thursday, June 4th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and issued a $515.00 price objective (up from $430.00) on shares of Broadcom in a research note on Thursday, June 4th. Finally, Seaport Research Partners reissued a "neutral" rating on shares of Broadcom in a report on Wednesday, April 8th. One investment 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's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $493.24.

Broadcom Trading Down 0.8%

Shares of AVGO opened at $378.91 on Friday. Broadcom Inc. has a twelve month low of $262.66 and a twelve month high of $495.00. The stock has a market cap of $1.80 trillion, a PE ratio of 63.15, a P/E/G ratio of 0.67 and a beta of 1.41. The company has a quick ratio of 2.01, a current ratio of 2.24 and a debt-to-equity ratio of 0.71. The business's 50-day moving average price is $412.34 and its 200-day moving average price is $363.34.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its quarterly earnings data on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 EPS for the quarter, beating analysts' consensus estimates of $2.40 by $0.04. The company 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%. Broadcom's revenue was up 47.9% compared to the same quarter last year. During the same period last year, the business earned $1.58 earnings per share. On average, equities analysts forecast that Broadcom Inc. will post 10.24 EPS for the current fiscal year.

Broadcom Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 22nd will be issued a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Monday, June 22nd. Broadcom's dividend payout ratio (DPR) is presently 43.33%.

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.

Want to see what other hedge funds are holding AVGO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Broadcom Inc. (NASDAQ:AVGO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.