E. Ohman J or Asset Management AB Buys 56,003 Shares of Broadcom Inc. $AVGO

Key Points

• E. Ohman J or Asset Management AB increased its Broadcom stake by 12.2% in the first quarter, buying 56,003 shares and bringing its total holding to 513,881 shares worth about $159.1 million.
• Broadcom reported better-than-expected quarterly results, with EPS of $2.44 versus $2.40 expected and revenue of $22.19 billion, up 47.9% year over year.
• The company also announced a quarterly dividend of $0.65 per share, payable June 30, while analysts remain broadly positive with a consensus Moderate Buy rating and average price target of $490.13.

E. Ohman J or Asset Management AB raised its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 12.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 513,881 shares of the semiconductor manufacturer's stock after purchasing an additional 56,003 shares during the quarter. Broadcom accounts for approximately 4.2% of E. Ohman J or Asset Management AB's holdings, making the stock its 6th largest holding. E. Ohman J or Asset Management AB's holdings in Broadcom were worth $159,051,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in AVGO. ROSS JOHNSON & Associates LLC boosted its position in Broadcom by 1,320.0% during the fourth 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 lifted its stake in Broadcom by 261.9% in the fourth 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 position in shares of Broadcom in the 4th quarter valued at about $31,000. Nvest Wealth Strategies Inc. bought a new position in shares of Broadcom in the 4th quarter valued at about $33,000. Finally, Family CFO Inc acquired a new position in shares of Broadcom during the 4th quarter worth about $35,000. Institutional investors and hedge funds own 76.43% of the company's stock.

Broadcom Price Performance

Shares of Broadcom stock opened at $392.13 on Tuesday. The company has a quick ratio of 2.01, a current ratio of 2.24 and a debt-to-equity ratio of 0.71. The stock has a market capitalization of $1.87 trillion, a price-to-earnings ratio of 65.36, a price-to-earnings-growth ratio of 0.72 and a beta of 1.41. Broadcom Inc. has a twelve month low of $246.46 and a twelve month high of $495.00. The company has a 50-day simple moving average of $412.17 and a two-hundred day simple moving average of $363.42.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced 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. The company had revenue of $22.19 billion for 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 for the quarter was up 47.9% on a year-over-year basis. During the same period last year, the firm earned $1.58 earnings per share. Analysts forecast that Broadcom Inc. will post 10.24 EPS for the current year.

Broadcom Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 22nd will be issued a $0.65 dividend. The ex-dividend date of this dividend is 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 Transactions at Broadcom

In related news, insider Mark David Brazeal sold 4,825 shares of the firm's stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $394.91, for a total value of $1,905,440.75. Following the transaction, the insider owned 269,989 shares in the company, valued at approximately $106,621,355.99. This trade represents a 1.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Charlie B. Kawwas sold 10,000 shares of the business's stock in a transaction dated Wednesday, April 8th. The shares were sold at an average price of $345.23, for a total value of $3,452,300.00. Following the completion of the transaction, the insider directly owned 787,184 shares of the company's stock, 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 sold 59,385 shares of company stock worth $21,301,057. Corporate insiders own 1.90% of the company's stock.

Wall Street Analyst Weigh In

AVGO has been the topic of a number of recent analyst reports. Truist Financial boosted their price target on Broadcom from $545.00 to $550.00 and gave the stock a "buy" rating in a research report on Thursday, June 4th. Wall Street Zen lowered Broadcom from a "strong-buy" rating to a "buy" rating in a report on Tuesday. Zacks Research downgraded Broadcom from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 21st. The Goldman Sachs Group reiterated a "buy" rating and issued a $525.00 price objective on shares of Broadcom in a report on Thursday, June 4th. Finally, Oppenheimer restated an "outperform" rating and set a $535.00 target price (up from $450.00) on shares of Broadcom 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 assigned a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $490.13.

Key Stories 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

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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