Carmel Capital Management L.L.C. Has $43.80 Million Stock Position in Broadcom Inc. $AVGO

Carmel Capital Management L.L.C. trimmed its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 1.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 141,515 shares of the semiconductor manufacturer's stock after selling 1,415 shares during the period. Broadcom accounts for approximately 12.5% of Carmel Capital Management L.L.C.'s holdings, making the stock its largest position. Carmel Capital Management L.L.C.'s holdings in Broadcom were worth $43,800,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. IFM Investors Pty Ltd lifted its position in Broadcom by 4.1% during the first quarter. IFM Investors Pty Ltd now owns 928,103 shares of the semiconductor manufacturer's stock valued at $287,257,000 after purchasing an additional 36,920 shares in the last quarter. Rexford Capital Inc. increased its position in Broadcom by 63.1% in the first quarter. Rexford Capital Inc. now owns 1,359 shares of the semiconductor manufacturer's stock worth $421,000 after buying an additional 526 shares in the last quarter. Severin Investments LLC increased its position in Broadcom by 24.9% in the first quarter. Severin Investments LLC now owns 6,831 shares of the semiconductor manufacturer's stock worth $2,114,000 after buying an additional 1,362 shares in the last quarter. Bayban raised its stake in shares of Broadcom by 25.3% in the first quarter. Bayban now owns 565 shares of the semiconductor manufacturer's stock worth $175,000 after buying an additional 114 shares during the period. Finally, North Point Portfolio Managers Corp OH raised its stake in shares of Broadcom by 22.2% in the first quarter. North Point Portfolio Managers Corp OH now owns 770 shares of the semiconductor manufacturer's stock worth $238,000 after buying an additional 140 shares during the period. 76.43% of the stock is owned by institutional investors.

Broadcom Stock Performance

Shares of AVGO opened at $360.45 on Friday. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.24 and a quick ratio of 2.01. Broadcom Inc. has a 1 year low of $269.58 and a 1 year high of $495.00. The company has a 50 day simple moving average of $407.92 and a two-hundred day simple moving average of $362.33. The firm has a market cap of $1.71 trillion, a P/E ratio of 60.08, a price-to-earnings-growth ratio of 0.63 and a beta of 1.45.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 EPS for the quarter, topping the consensus estimate 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 the consensus estimate of $22.13 billion. During the same quarter in the previous year, the firm earned $1.58 earnings per share. The company's quarterly revenue was up 47.9% compared to the same quarter last year. On average, equities analysts expect that Broadcom Inc. will post 10.24 earnings per share for the current fiscal year.

Broadcom Announces Dividend

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

Insiders Place Their Bets

In other news, Director Gayla J. Delly sold 1,000 shares of the firm's stock in a transaction dated Thursday, April 9th. The stock was sold at an average price of $358.31, for a total transaction of $358,310.00. Following the completion of the transaction, the director owned 32,352 shares in the company, valued at $11,592,045.12. This trade represents a 3.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Justine Page sold 1,602 shares of Broadcom stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $373.86, for a total value of $598,923.72. Following the completion of the sale, the director directly owned 17,426 shares in the company, valued at $6,514,884.36. This trade represents a 8.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 60,987 shares of company stock worth $21,899,980. 1.90% of the stock is owned by corporate insiders.

More Broadcom News

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?

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on AVGO. TD Cowen reiterated a "buy" rating and set a $500.00 price objective on shares of Broadcom in a research note on Thursday, June 4th. Wall Street Zen upgraded shares of Broadcom from a "buy" rating to a "strong-buy" rating in a research note on Wednesday. KeyCorp reaffirmed an "overweight" rating and set a $575.00 price target (up from $500.00) on shares of Broadcom in a report on Thursday, June 4th. Seaport Research Partners reiterated a "neutral" rating on shares of Broadcom in a research report on Wednesday, April 8th. Finally, Morgan Stanley set a $502.00 price objective on shares of Broadcom and gave the stock an "overweight" rating in a research note on Thursday, June 4th. One investment analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $493.24.

Broadcom 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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