Capital Asset Advisory Services LLC Buys 10,154 Shares of Broadcom Inc. $AVGO

Key Points

• Capital Asset Advisory Services LLC increased its Broadcom stake by 38.4% in the first quarter, buying 10,154 shares to bring its total holdings to 36,593 shares worth about $11.3 million.
• Broadcom continues to attract bullish analyst coverage thanks to AI-related growth opportunities, including demand for custom AI silicon and its work with customers such as OpenAI and Anthropic. Several firms maintained buy-equivalent ratings and price targets well above the current share price.
• The company recently posted strong quarterly results, with EPS of $2.44 topping estimates and revenue of $22.19 billion, up 47.9% year over year. Broadcom also paid a $0.65 quarterly dividend, though the stock remains below recent levels and insider selling has weighed on sentiment.

Capital Asset Advisory Services LLC boosted its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 38.4% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 36,593 shares of the semiconductor manufacturer's stock after buying an additional 10,154 shares during the period. Capital Asset Advisory Services LLC's holdings in Broadcom were worth $11,326,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Prospect Financial Services LLC boosted its stake in shares of Broadcom by 5.9% during the 1st quarter. Prospect Financial Services LLC now owns 2,491 shares of the semiconductor manufacturer's stock worth $771,000 after purchasing an additional 139 shares during the period. Bellevue Asset Management LLC grew its holdings in Broadcom by 50.3% during the 1st quarter. Bellevue Asset Management LLC now owns 2,164 shares of the semiconductor manufacturer's stock valued at $670,000 after purchasing an additional 724 shares during the last quarter. Essex Financial Services Inc. raised its position in Broadcom by 1.7% in the 1st quarter. Essex Financial Services Inc. now owns 19,465 shares of the semiconductor manufacturer's stock worth $6,025,000 after purchasing an additional 325 shares during the period. Syntax Research Inc. raised its position in Broadcom by 0.8% in the 1st quarter. Syntax Research Inc. now owns 13,113 shares of the semiconductor manufacturer's stock worth $4,058,000 after purchasing an additional 103 shares during the period. Finally, Lynch Asset Management Inc. lifted its stake in Broadcom by 1.6% in the first quarter. Lynch Asset Management Inc. now owns 18,550 shares of the semiconductor manufacturer's stock worth $5,741,000 after purchasing an additional 300 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors.

Broadcom News Roundup

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?

Broadcom Stock Performance

NASDAQ AVGO opened at $360.45 on Monday. The company's 50-day simple moving average is $407.92 and its two-hundred day simple moving average is $362.49. Broadcom Inc. has a one year low of $269.58 and a one year high of $495.00. The company has a market capitalization of $1.71 trillion, a price-to-earnings ratio of 60.08, a price-to-earnings-growth ratio of 0.63 and a beta of 1.45. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.01 and a current ratio of 2.24.

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

Broadcom Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 22nd were issued a $0.65 dividend. 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 currently 43.33%.

Insider Transactions at Broadcom

In related news, insider S. Ram Velaga sold 17,260 shares of the firm's stock in a transaction dated 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 sale, the insider owned 65,932 shares of the company's stock, valued at $23,215,975.84. This trade represents a 20.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Charlie B. Kawwas sold 10,000 shares of Broadcom stock in a transaction dated 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 completion of the transaction, the insider owned 787,184 shares in the company, valued at $271,759,532.32. This trade represents a 1.25% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 60,987 shares of company stock worth $21,899,980. Company insiders own 1.90% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently commented on AVGO. The Goldman Sachs Group reaffirmed a "buy" rating and set a $525.00 target price on shares of Broadcom in a research note on Thursday, June 4th. Cantor Fitzgerald reissued an "overweight" rating and set a $525.00 price target on shares of Broadcom in a research note on Thursday, June 4th. Seaport Research Partners restated a "neutral" rating on shares of Broadcom in a report on Wednesday, April 8th. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $545.00 price objective (up from $430.00) on shares of Broadcom in a research report on Thursday, May 14th. Finally, Citigroup reiterated a "buy" rating on shares of Broadcom in a research note on Thursday, June 4th. One investment analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average 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.

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.