Family Investment Center Inc. acquired a new position in Broadcom Inc. (NASDAQ:AVGO - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,568 shares of the semiconductor manufacturer's stock, valued at approximately $592,000.
Several other institutional investors have also added to or reduced their stakes in AVGO. ROSS JOHNSON & Associates LLC raised its holdings in shares of Broadcom by 1,320.0% in the fourth quarter. ROSS JOHNSON & Associates LLC now owns 71 shares of the semiconductor manufacturer's stock worth $25,000 after buying an additional 66 shares during the period. SWAN Capital LLC boosted its holdings in 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 period. Networth Advisors LLC grew its position in Broadcom by 546.2% in the 1st quarter. Networth Advisors LLC now owns 84 shares of the semiconductor manufacturer's stock valued at $26,000 after acquiring an additional 71 shares during the last quarter. Nvest Wealth Strategies Inc. bought a new position in Broadcom in the 4th quarter valued at $33,000. Finally, PayPay Securities Corp increased its stake in Broadcom by 88.9% in the fourth quarter. PayPay Securities Corp now owns 119 shares of the semiconductor manufacturer's stock worth $41,000 after purchasing an additional 56 shares during the period. Institutional investors own 76.43% of the company's stock.
Wall Street Analyst Weigh In
Several analysts have recently weighed in on AVGO shares. DA Davidson lifted their target price on Broadcom from $375.00 to $400.00 and gave the stock a "neutral" rating in a research report on Thursday, June 4th. Morgan Stanley set a $502.00 price target on shares of Broadcom and gave the stock an "overweight" rating in a report on Thursday, June 4th. UBS Group set a $485.00 price target on shares of Broadcom and gave the stock a "buy" rating in a research note on Thursday, June 4th. Benchmark lifted their price objective on shares of Broadcom from $485.00 to $545.00 and gave the company a "buy" rating in a report on Thursday, June 4th. Finally, Mizuho boosted their price objective on shares of Broadcom from $480.00 to $530.00 and gave the company an "outperform" rating in a research report on Thursday, June 4th. Twenty-eight equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, Broadcom currently has a consensus rating of "Moderate Buy" and a consensus price target of $493.24.
Check Out Our Latest Stock Report on AVGO
Broadcom Stock Performance
Shares of Broadcom stock opened at $362.48 on Thursday. The company has a current ratio of 2.24, a quick ratio of 2.01 and a debt-to-equity ratio of 0.71. The stock's fifty day moving average price is $389.27 and its 200-day moving average price is $374.61. The firm has a market cap of $1.72 trillion, a P/E ratio of 60.41, a P/E/G ratio of 0.73 and a beta of 1.45. Broadcom Inc. has a 12 month low of $281.87 and a 12 month high of $495.00.
Broadcom (NASDAQ:AVGO - Get Free Report) last released its quarterly earnings data 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 net margin of 38.85% and a return on equity of 41.61%. The company had revenue of $22.19 billion during the quarter, compared to analyst estimates of $22.13 billion. During the same period in the prior year, the firm earned $1.58 earnings per share. The firm's revenue for the quarter was up 47.9% compared to the same quarter last year. On average, equities research analysts expect that Broadcom Inc. will post 10.24 earnings per share for the current fiscal year.
Broadcom Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 22nd were issued a $0.65 dividend. The ex-dividend date was Monday, June 22nd. This represents a $2.60 annualized dividend and a dividend yield of 0.7%. Broadcom's payout ratio is currently 43.33%.
Insider Buying and Selling at Broadcom
In other news, Director Justine Page sold 1,602 shares of the company's stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $373.86, for a total value of $598,923.72. Following the completion of the sale, the director owned 17,426 shares of the company's stock, valued at approximately $6,514,884.36. This represents a 8.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Mark David Brazeal sold 25,000 shares of the stock in a transaction that occurred on Friday, July 10th. The shares were sold at an average price of $401.33, for a total transaction of $10,033,250.00. Following the transaction, the insider owned 194,989 shares in the company, valued at approximately $78,254,935.37. This represents a 11.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 61,644 shares of company stock worth $24,016,214 over the last quarter. 1.90% of the stock is currently owned by company insiders.
More Broadcom News
Here are the key news stories impacting Broadcom this week:
- Positive Sentiment: Broadcom’s custom AI accelerator and networking businesses remain major growth drivers. The company recently reported 47.9% year-over-year revenue growth and exceeded quarterly EPS and revenue expectations, while one analysis argues its combination of custom chips and data-center networking gives it durable AI exposure. Broadcom AI infrastructure analysis
- Positive Sentiment: TD Cowen reiterated a Buy rating and maintained a $500 price target, indicating that at least one major analyst views the recent weakness as an opportunity rather than a deterioration in Broadcom’s long-term outlook. TD Cowen Broadcom price target
- Positive Sentiment: Broader AI spending trends remain favorable for chip and infrastructure suppliers, including Broadcom, as companies increase investment in compute and connectivity. Anthropic’s reported growth and its infrastructure relationships also highlight potential demand for Broadcom custom silicon. Anthropic pre-IPO and Broadcom infrastructure
- Neutral Sentiment: Broadcom is scheduled to pay its regular quarterly dividend of $0.65 per share on September 30, providing income support but little immediate catalyst for the stock. Broadcom dividend announcement
- Negative Sentiment: Marvell Technology announced an agreement to help Google develop custom AI chips and received a potential $12.2 billion Google-linked warrant or equity option. Because Broadcom has been viewed as Google’s leading custom-chip partner, the deal raised concerns that Marvell could take share or weaken Broadcom’s negotiating position. Marvell Google custom AI chip deal
- Negative Sentiment: Investors remain concerned about financing conditions for AI infrastructure spending, Broadcom’s leverage and VMware-related issues, including a reported vCenter Syslog Server vulnerability. Comparisons with NVIDIA and Astera Labs also emphasize Broadcom’s higher perceived financial risk or less attractive growth profile. Broadcom VMware and financing concerns
About Broadcom
(
Free Report)
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.
See Also
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
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