Citrine Capital LLC Invests $638,000 in Broadcom Inc. $AVGO

Key Points

• Citrine Capital LLC disclosed a new stake in Broadcom, buying 2,060 shares worth about $638,000 in the first quarter. The position makes Broadcom its 27th-largest holding.
• Broadcom reported strong quarterly results, with EPS of $2.44 beating estimates and revenue of $22.19 billion topping expectations. Revenue rose 47.9% year over year, underscoring continued growth.
• Analyst sentiment remains upbeat, with several firms reiterating Buy/Overweight ratings and price targets as high as $550. The company also paid a quarterly dividend of $0.65 per share, or $2.60 annualized.

Citrine Capital LLC purchased a new stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 2,060 shares of the semiconductor manufacturer's stock, valued at approximately $638,000. Broadcom makes up approximately 0.3% of Citrine Capital LLC's investment portfolio, making the stock its 27th biggest position.

Several other institutional investors also recently modified their holdings of AVGO. ROSS JOHNSON & Associates LLC lifted its stake in Broadcom by 1,320.0% during the 4th quarter. ROSS JOHNSON & Associates LLC now owns 71 shares of the semiconductor manufacturer's stock valued at $25,000 after acquiring an additional 66 shares during the period. SWAN Capital LLC boosted its holdings in shares of Broadcom by 261.9% during 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 last quarter. Miller Global Investments LLC bought a new stake in shares of Broadcom in the fourth quarter worth approximately $31,000. Nvest Wealth Strategies Inc. purchased a new position in shares of Broadcom during the fourth quarter valued at approximately $33,000. Finally, Family CFO Inc purchased a new position in shares of Broadcom during the fourth quarter valued at approximately $35,000. 76.43% of the stock is owned by hedge funds and other institutional investors.

Broadcom Stock Up 1.4%

NASDAQ AVGO opened at $377.75 on Wednesday. The stock's 50-day moving average price is $410.61 and its 200-day moving average price is $362.60. 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 Inc. has a 52 week low of $262.66 and a 52 week high of $495.00. The company has a market capitalization of $1.80 trillion, a P/E ratio of 62.96, a price-to-earnings-growth ratio of 0.65 and a beta of 1.41.

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

Broadcom Announces Dividend

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

Insider Buying and Selling at Broadcom

In other news, insider S. Ram Velaga sold 17,260 shares of the firm's stock in a transaction on Thursday, April 9th. The shares were sold at an average price of $352.12, for a total transaction of $6,077,591.20. Following the sale, the insider directly owned 65,932 shares in the company, valued at $23,215,975.84. This trade represents a 20.75% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Charlie B. Kawwas sold 10,000 shares of Broadcom stock in a transaction on Wednesday, April 8th. The shares were sold at an average price of $345.23, for a total transaction of $3,452,300.00. Following the transaction, the insider owned 787,184 shares in the company, valued at approximately $271,759,532.32. This trade represents a 1.25% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 59,385 shares of company stock valued at $21,301,057. 1.90% of the stock is currently owned by company insiders.

Broadcom News Summary

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Jefferies reiterated its Buy rating on Broadcom and kept a $550 price target, suggesting substantial upside from current levels. Analyst updates Broadcom (AVGO) stock price target
• Positive Sentiment: Erste Group raised its earnings estimates for Broadcom, including higher FY2026 and FY2027 EPS forecasts, reinforcing the view that earnings growth remains strong. Broadcom estimate update
• Positive Sentiment: Coverage around Broadcom’s partnership with OpenAI on the Jalapeño AI accelerator continues to support the company’s AI growth story and long-term demand outlook. What Broadcom (AVGO)'s Jalapeño AI Accelerator Partnership With OpenAI Means For Shareholders
• Neutral Sentiment: Several articles highlighted Broadcom’s recent weakness and “buy the dip” debate, indicating that investor sentiment is cautious but not turning bearish on fundamentals. Broadcom's Stock Has Slumped Over 20% From Its Highs. These Experts Say They Would Buy the Dip
• Negative Sentiment: Reports of heavy insider selling over the past two weeks may weigh on sentiment, as investors often view large insider sales as a cautionary signal. Monster insider trading alert for Broadcom (AVGO) stock

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on AVGO shares. Susquehanna reaffirmed 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. The Goldman Sachs Group reissued a "buy" rating and set a $525.00 price target on shares of Broadcom in a report on Thursday, June 4th. Bank of America increased their target price on 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 issued a $535.00 target price (up from $450.00) on shares of Broadcom in a research report on Thursday, June 4th. Finally, Cantor Fitzgerald restated an "overweight" rating and set a $525.00 price target on shares of Broadcom in a research note on Thursday, June 4th. One equities research 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.com, Broadcom presently has a consensus rating of "Moderate Buy" and a consensus price target 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.

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