Diversified Trust Co Increases Stock Position in Broadcom Inc. $AVGO

Key Points

• Diversified Trust Co increased its Broadcom stake by 1.0% in the first quarter, bringing its holdings to 153,535 shares worth about $47.5 million.
• Broadcom reported strong quarterly results, with earnings of $2.44 per share topping estimates and revenue of $22.19 billion, up 47.9% year over year. The company also highlighted continued strength in AI-related sales.
• Analysts remain broadly positive on AVGO, with several firms raising price targets and the stock carrying a consensus “Moderate Buy” rating and average target price of $490.13.

Diversified Trust Co lifted its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 1.0% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 153,535 shares of the semiconductor manufacturer's stock after purchasing an additional 1,572 shares during the period. Broadcom comprises 0.9% of Diversified Trust Co's holdings, making the stock its 18th biggest position. Diversified Trust Co's holdings in Broadcom were worth $47,521,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Baron Wealth Management LLC raised its position in shares of Broadcom by 2.4% in the 1st quarter. Baron Wealth Management LLC now owns 5,775 shares of the semiconductor manufacturer's stock worth $1,787,000 after acquiring an additional 136 shares in the last quarter. Solitude Financial Services lifted its stake in shares of Broadcom by 0.5% during the 1st quarter. Solitude Financial Services now owns 5,728 shares of the semiconductor manufacturer's stock worth $1,773,000 after purchasing an additional 29 shares during the last quarter. Aventus Investment Advisors Inc. boosted its position in Broadcom by 1.7% during the first quarter. Aventus Investment Advisors Inc. now owns 4,839 shares of the semiconductor manufacturer's stock valued at $1,498,000 after purchasing an additional 83 shares in the last quarter. Cohen Klingenstein LLC bought a new stake in Broadcom during the first quarter valued at about $54,955,000. Finally, Nations Financial Group Inc. IA ADV grew its stake in Broadcom by 0.6% in the first quarter. Nations Financial Group Inc. IA ADV now owns 58,720 shares of the semiconductor manufacturer's stock valued at $18,174,000 after purchasing an additional 362 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors.

Broadcom Price Performance

Shares of NASDAQ AVGO opened at $392.13 on Tuesday. 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 company has a market cap of $1.87 trillion, a PE ratio of 65.36, a P/E/G ratio of 0.72 and a beta of 1.41. The business has a 50-day simple moving average of $412.17 and a two-hundred day simple moving average of $363.42. Broadcom Inc. has a fifty-two week low of $246.46 and a fifty-two week high of $495.00.

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

Broadcom Announces Dividend

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

Key Headlines Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Analysts and market commentators are pointing to Broadcom’s strong AI demand as the main reason to stay bullish. Recent coverage highlighted record semiconductor sales, AI chip and networking demand, and strong customer commitments as evidence that the company’s AI growth story remains intact. Broadcom's AI Push Boosts Semiconductor Sales: More Upside Ahead?
• Positive Sentiment: JPMorgan reportedly reiterated buy-the-dip optimism, citing Broadcom’s multi-year Google partnership, record quarterly revenue of $22.19 billion, and AI semiconductor sales of $10.8 billion, up 143% year over year. The note also pointed to expectations for another step-up in AI-chip growth next quarter. Broadcom's AI boom — Google deal and huge revenue growth spark buy-the-dip calls
• Positive Sentiment: Several pieces argue that the market is overreacting to a modest AI revenue guide and that the selloff has created an accumulation opportunity. They emphasize that Broadcom’s revenue, semiconductor growth, AI bookings, and backlog are all at record levels, which supports the longer-term investment case. The Grandest Castle Ever Floated (and the Stocks to Profit From It)
• Positive Sentiment: Broadcom is also attracting broader investor attention and continued analyst support, including a consensus “Moderate Buy” rating, which may help stabilize sentiment after the recent decline. Broadcom Inc. NASDAQ: AVGO Receives Consensus Recommendation of "Moderate Buy" from Analysts

Wall Street Analyst Weigh In

AVGO has been the subject of a number of recent research reports. DA Davidson boosted their target price on shares of Broadcom from $375.00 to $400.00 and gave the stock a "neutral" rating in a report on Thursday, June 4th. Rosenblatt Securities restated a "buy" rating and issued a $500.00 price target on shares of Broadcom in a report on Thursday, June 4th. Benchmark lifted their price objective on shares of Broadcom from $485.00 to $545.00 and gave the stock a "buy" rating in a research report on Thursday, June 4th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and set a $515.00 price objective (up from $430.00) on shares of Broadcom in a research note on Thursday, June 4th. Finally, Cantor Fitzgerald reissued an "overweight" rating and set a $525.00 target price on shares of Broadcom in a research report on Thursday, June 4th. One research analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, Broadcom currently has a consensus rating of "Moderate Buy" and an average target price of $490.13.

Insider Activity at Broadcom

In other news, insider Mark David Brazeal sold 4,825 shares of Broadcom stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $394.91, for a total transaction of $1,905,440.75. Following the completion of the sale, the insider directly owned 269,989 shares in the company, valued at approximately $106,621,355.99. The trade was a 1.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Gayla J. Delly sold 1,000 shares of the business's stock in a transaction on Thursday, April 9th. The shares were sold at an average price of $358.31, for a total transaction of $358,310.00. Following the sale, the director directly 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 SEC filing for this sale provides additional information. Insiders have sold 59,385 shares of company stock worth $21,301,057 in the last 90 days. 1.90% of the stock is owned by insiders.

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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