Cane Capital Partners LLC Boosts Holdings in Broadcom Inc. $AVGO

Cane Capital Partners LLC raised its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 21.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,358 shares of the semiconductor manufacturer's stock after acquiring an additional 2,864 shares during the period. Broadcom makes up approximately 2.2% of Cane Capital Partners LLC's holdings, making the stock its 13th biggest holding. Cane Capital Partners LLC's holdings in Broadcom were worth $5,063,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. grew its stake in Broadcom by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 482,707,302 shares of the semiconductor manufacturer's stock worth $167,064,997,000 after buying an additional 3,919,715 shares during the last quarter. State Street Corp raised its stake in Broadcom by 2.7% in the fourth quarter. State Street Corp now owns 190,084,351 shares of the semiconductor manufacturer's stock valued at $65,788,194,000 after buying an additional 5,040,801 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Broadcom by 1.4% in the fourth quarter. Geode Capital Management LLC now owns 111,277,280 shares of the semiconductor manufacturer's stock worth $38,396,634,000 after acquiring an additional 1,548,699 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Broadcom by 3.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 85,546,083 shares of the semiconductor manufacturer's stock worth $29,607,500,000 after acquiring an additional 2,491,644 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Broadcom during the fourth quarter valued at about $24,252,196,000. 76.43% of the stock is owned by hedge funds and other institutional investors.

Broadcom Stock Performance

Shares of NASDAQ AVGO opened at $360.45 on Friday. The company has a 50 day simple moving average of $407.92 and a two-hundred day simple moving average of $362.33. The stock has a market cap of $1.71 trillion, a price-to-earnings ratio of 60.08, a PEG ratio of 0.63 and a beta of 1.45. The company has a current ratio of 2.24, a quick ratio of 2.01 and a debt-to-equity ratio of 0.71. Broadcom Inc. has a 12 month low of $269.58 and a 12 month high of $495.00.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its quarterly earnings data on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share for the quarter, topping analysts' consensus estimates of $2.40 by $0.04. Broadcom had a net margin of 38.85% and a return on equity of 41.61%. The firm had revenue of $22.19 billion for the quarter, compared to analyst estimates of $22.13 billion. During the same quarter in the prior year, the business earned $1.58 earnings per share. The business's quarterly revenue was up 47.9% compared to the same quarter last year. As a group, analysts predict that Broadcom Inc. will post 10.24 earnings per share for the current year.

Broadcom Dividend Announcement

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

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?

Insider Buying and Selling at Broadcom

In related news, insider S. Ram Velaga sold 17,260 shares of Broadcom stock in a transaction that occurred on Thursday, April 9th. The stock was sold at an average price of $352.12, for a total transaction of $6,077,591.20. Following the completion of the transaction, the insider directly owned 65,932 shares in the company, valued at approximately $23,215,975.84. This trade represents a 20.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Mark David Brazeal sold 4,825 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the insider directly owned 269,989 shares of the company's stock, valued at $106,621,355.99. The trade was a 1.76% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 60,987 shares of company stock worth $21,899,980. Insiders own 1.90% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on AVGO shares. Zacks Research cut shares of Broadcom from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 21st. Cantor Fitzgerald reiterated an "overweight" rating and set a $525.00 price objective on shares of Broadcom in a research note on Thursday, June 4th. Susquehanna reissued a "positive" rating and issued a $490.00 target price (up from $450.00) on shares of Broadcom in a research report on Thursday, May 28th. DA Davidson raised their target price on Broadcom from $375.00 to $400.00 and gave the stock a "neutral" rating in a research note on Thursday, June 4th. Finally, Bank of America lifted their price target on Broadcom from $450.00 to $530.00 and gave the stock a "buy" rating in a research report on Thursday, June 4th. 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. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $493.24.

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.

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.