Corient Private Wealth LLC Has $1.36 Billion Stake in Broadcom Inc. $AVGO

Key Points

• Corient Private Wealth LLC increased its Broadcom stake by 7.5% in the fourth quarter, ending with 3.9 million shares valued at about $1.36 billion. Broadcom is now Corient’s 11th-largest holding and makes up roughly 1.5% of its portfolio.
• Wall Street remains bullish on Broadcom, with multiple firms raising price targets and the consensus rating sitting at Moderate Buy. Analysts cited strong demand, especially tied to AI and data-center spending.
• Broadcom’s latest quarter beat expectations, reporting $2.44 EPS on $22.19 billion in revenue, while revenue jumped 47.9% year over year. The company also declared a quarterly dividend of $0.65 per share.

Corient Private Wealth LLC boosted its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 7.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,913,103 shares of the semiconductor manufacturer's stock after acquiring an additional 273,044 shares during the quarter. Broadcom accounts for approximately 1.5% of Corient Private Wealth LLC's investment portfolio, making the stock its 11th biggest holding. Corient Private Wealth LLC owned approximately 0.08% of Broadcom worth $1,355,463,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. ROSS JOHNSON & Associates LLC lifted its stake in Broadcom by 1,320.0% in the 4th quarter. ROSS JOHNSON & Associates LLC now owns 71 shares of the semiconductor manufacturer's stock valued at $25,000 after purchasing an additional 66 shares during the last quarter. SWAN Capital LLC increased its position in Broadcom by 261.9% during the fourth quarter. SWAN Capital LLC now owns 76 shares of the semiconductor manufacturer's stock worth $26,000 after buying an additional 55 shares during the last quarter. Miller Global Investments LLC acquired a new position in Broadcom during the fourth quarter worth approximately $31,000. Nvest Wealth Strategies Inc. bought a new stake in Broadcom in the fourth quarter valued at approximately $33,000. Finally, Family CFO Inc bought a new stake in Broadcom in the fourth quarter valued at approximately $35,000. Institutional investors and hedge funds own 76.43% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on AVGO. Evercore reiterated an "outperform" rating and set a $582.00 target price on shares of Broadcom in a research note on Tuesday, May 19th. Bank of America increased their price target on Broadcom from $450.00 to $530.00 and gave the company a "buy" rating in a research note on Thursday, June 4th. UBS Group set a $485.00 price target on Broadcom and gave the company a "buy" rating in a report on Thursday, June 4th. JPMorgan Chase & Co. upped their price objective on shares of Broadcom from $500.00 to $580.00 and gave the company an "overweight" rating in a report on Thursday, June 4th. Finally, Jefferies Financial Group set a $550.00 price objective on shares of Broadcom and gave the company 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 assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Broadcom currently has a consensus rating of "Moderate Buy" and an average target price of $490.13.

Broadcom Stock Performance

Shares of Broadcom stock opened at $411.35 on Friday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.01 and a current ratio of 2.24. The firm has a 50-day moving average of $411.42 and a 200-day moving average of $363.50. Broadcom Inc. has a 52-week low of $244.17 and a 52-week high of $495.00. The stock has a market cap of $1.96 trillion, a PE ratio of 68.56, a PEG ratio of 0.72 and a beta of 1.41.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its quarterly earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 EPS for the quarter, topping analysts' consensus estimates of $2.40 by $0.04. The business 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 for the quarter was up 47.9% compared to the same quarter last year. During the same period last year, the firm earned $1.58 earnings per share. As a group, sell-side analysts forecast that Broadcom Inc. will post 10.24 EPS for the current year.

Broadcom Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 22nd will be issued a dividend of $0.65 per share. The ex-dividend date of this dividend is Monday, June 22nd. This represents a $2.60 annualized dividend and a dividend yield of 0.6%. Broadcom's dividend payout ratio (DPR) is currently 43.33%.

More Broadcom News

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom’s debt tender offer was upsized to $3 billion after strong investor demand, signaling active balance-sheet management and reinforcing investor confidence. Broadcom Inc. Announces Results and Upsize of Offers to Purchase for Cash Certain of its Outstanding Debt Securities
• Positive Sentiment: JPMorgan remained bullish on Broadcom, saying investors should be “aggressive buyers,” which supports the view that the market may still be underestimating AVGO’s AI growth. AVGO stock jumps — JPMorgan says investors should be 'aggressive buyers' of Broadcom at current levels
• Positive Sentiment: Citi also called Broadcom a top chip stock on strong data-center demand, adding another bullish Wall Street view tied to AI infrastructure spending. Citi Touts Broadcom Inc. (AVGO) as a Top Chip Stock on Soaring Data Center Demand
• Positive Sentiment: One report said VMware, Broadcom’s second-largest business, may be set to accelerate, which could broaden growth beyond the company’s AI chip exposure. VMware: Broadcom's Second Biggest Business Set to Accelerate
• Neutral Sentiment: Insider Mark David Brazeal sold shares in two June transactions, but the sales were relatively small versus his remaining stake and do not necessarily change the broader investment thesis. Mark David Brazeal insider trading page
• Negative Sentiment: One analyst warned that chip valuations are getting stretched and suggested investors could consider alternatives, including Broadcom, which may temper enthusiasm if valuation concerns intensify. Analyst Warns Intel Valuation ‘Doesn't Make Sense.' Suggests NVIDIA, AMD, Micron, and Broadcom as Alternatives.

Insider Buying and Selling

In related news, Director Harry L. You acquired 1,000 shares of the stock in a transaction on Thursday, June 11th. The shares were purchased at an average price of $373.57 per share, for a total transaction of $373,570.00. Following the purchase, the director directly owned 38,466 shares in the company, valued at approximately $14,369,743.62. The trade was a 2.67% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Charlie B. Kawwas sold 10,000 shares of the stock in a transaction on Wednesday, April 8th. The stock was sold at an average price of $345.23, for a total value of $3,452,300.00. Following the sale, the insider directly owned 787,184 shares in the company, valued at approximately $271,759,532.32. This trade represents a 1.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 59,385 shares of company stock valued at $21,301,057 in the last quarter. Corporate insiders own 1.90% of the company's stock.

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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