Childress Capital Advisors LLC Has $5.60 Million Position in Broadcom Inc. $AVGO

Key Points

• Childress Capital Advisors cut its Broadcom stake by 9% in Q1, but still held 18,106 shares valued at about $5.6 million. Broadcom remained a meaningful holding, making up roughly 1% of the firm’s portfolio.
• Broadcom reported strong quarterly results, with EPS of $2.44 beating estimates and revenue of $22.19 billion topping forecasts. Revenue rose 47.9% year over year, underscoring continued momentum in the business.
• The company also paid a quarterly dividend of $0.65 per share and continues to draw upbeat analyst coverage, with several firms raising price targets. The stock currently carries a consensus rating of Moderate Buy and an average target price of about $493.24.

Childress Capital Advisors LLC trimmed its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 9.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,106 shares of the semiconductor manufacturer's stock after selling 1,801 shares during the quarter. Broadcom comprises about 1.0% of Childress Capital Advisors LLC's portfolio, making the stock its 23rd biggest position. Childress Capital Advisors LLC's holdings in Broadcom were worth $5,604,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank bought a new position in shares of Broadcom during the 4th quarter worth approximately $24,252,196,000. Cardano Risk Management B.V. increased its stake in shares of Broadcom by 895.2% in the 4th quarter. Cardano Risk Management B.V. now owns 12,689,800 shares of the semiconductor manufacturer's stock valued at $4,391,940,000 after acquiring an additional 11,414,701 shares in the last quarter. State Street Corp increased its stake in shares of Broadcom by 2.7% in the 4th quarter. State Street Corp now owns 190,084,351 shares of the semiconductor manufacturer's stock valued at $65,788,194,000 after acquiring an additional 5,040,801 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Broadcom by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 482,707,302 shares of the semiconductor manufacturer's stock valued at $167,064,997,000 after acquiring an additional 3,919,715 shares during the period. Finally, Nordea Investment Management AB lifted its position in shares of Broadcom by 47.5% during the 4th quarter. Nordea Investment Management AB now owns 9,814,757 shares of the semiconductor manufacturer's stock valued at $3,406,211,000 after acquiring an additional 3,160,586 shares during the period. Institutional investors own 76.43% of the company's stock.

Insider Buying and Selling

In related news, Director Justine Page sold 1,602 shares of Broadcom stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $373.86, for a total transaction of $598,923.72. Following the transaction, the director owned 17,426 shares of the company's stock, valued at $6,514,884.36. The trade was a 8.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Gayla J. Delly sold 1,890 shares of the company's stock in a transaction on Wednesday, July 8th. The stock was sold at an average price of $385.38, for a total value of $728,368.20. Following the sale, the director owned 31,326 shares of the company's stock, valued at $12,072,413.88. This trade represents a 5.69% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 36,644 shares of company stock valued at $13,982,964. Company insiders own 1.90% of the company's stock.

Broadcom Stock Down 0.3%

AVGO traded down $1.14 during trading on Friday, hitting $399.97. 14,579,242 shares of the company's stock were exchanged, compared to its average volume of 26,802,910. Broadcom Inc. has a fifty-two week low of $269.58 and a fifty-two week high of $495.00. The stock has a market cap of $1.90 trillion, a P/E ratio of 66.66, a PEG ratio of 0.70 and a beta of 1.45. The business's 50 day moving average is $405.29 and its two-hundred day moving average is $364.13. The company has a quick ratio of 2.01, a current ratio of 2.24 and a debt-to-equity ratio of 0.71.

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 analysts' consensus estimates of $2.40 by $0.04. The firm had revenue of $22.19 billion during the quarter, compared to analysts' expectations of $22.13 billion. Broadcom had a net margin of 38.85% and a return on equity of 41.61%. The business's revenue was up 47.9% on a year-over-year basis. During the same period last year, the company earned $1.58 earnings per share. As a group, 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 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 yield of 0.7%. Broadcom's payout ratio is 43.33%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on AVGO shares. Royal Bank Of Canada raised their price target 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. Bank of America upped their price objective on shares of Broadcom from $450.00 to $530.00 and gave the company a "buy" rating in a report on Thursday, June 4th. Oppenheimer reissued an "outperform" rating and set a $535.00 price objective (up from $450.00) on shares of Broadcom in a research report on Thursday, June 4th. Jefferies Financial Group set a $550.00 target price on Broadcom and gave the company a "buy" rating in a research note on Thursday, June 4th. Finally, Mizuho boosted their target price on Broadcom from $480.00 to $530.00 and gave the company an "outperform" rating in a research report on Thursday, June 4th. One investment analyst has rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $493.24.

Key Headlines Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom’s expanded Apple agreement, valued at more than $30 billion through 2031, strengthens visibility for revenue and highlights demand beyond AI chips. Why Broadcom Stock Rose Today
• Positive Sentiment: Analysts remain upbeat on Broadcom’s AI business, with Jefferies reiterating a Buy rating and a $550 price target as AI chip momentum improves. Broadcom’s (AVGO) AI Chip Momentum Keeps Wall Street Bullish
• Positive Sentiment: Broadcom is being viewed as a broader AI infrastructure winner because its networking products help connect large-scale AI systems, expanding the investment thesis beyond GPUs and custom chips. Broadcom stock's latest catalyst targets Nvidia where it looks strongest
• Neutral Sentiment: Some coverage notes Broadcom’s near-$2 trillion market value and strong AI revenue growth, but also suggests much of the good news may already be reflected in the stock. Broadcom Is Less Than 5% From the $2 Trillion Club -- and Apple Just Committed $30 Billion for More Chips
• Negative Sentiment: Erste Group downgraded Broadcom to Hold, citing valuation concerns, which may be limiting upside after the recent rally. Erste Group downgrades Broadcom to Hold citing valuation concerns

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.

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