First Dallas Securities Inc. Has $1.47 Million Stake in Broadcom Inc. $AVGO

Key Points

• First Dallas Securities increased its Broadcom stake by 245.6% in the first quarter, ending with 4,735 shares worth about $1.47 million.
• Broadcom reported better-than-expected quarterly earnings, 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, while analysts remain broadly positive with a Moderate Buy consensus and a price target around $493.24.

First Dallas Securities Inc. raised its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 245.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,735 shares of the semiconductor manufacturer's stock after acquiring an additional 3,365 shares during the period. First Dallas Securities Inc.'s holdings in Broadcom were worth $1,466,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of AVGO. Vanguard Group Inc. grew its holdings in shares of Broadcom by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 482,707,302 shares of the semiconductor manufacturer's stock worth $167,064,997,000 after purchasing an additional 3,919,715 shares during the last quarter. State Street Corp lifted its holdings in Broadcom by 2.7% during the 4th quarter. State Street Corp now owns 190,084,351 shares of the semiconductor manufacturer's stock valued at $65,788,194,000 after purchasing an additional 5,040,801 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Broadcom by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 111,277,280 shares of the semiconductor manufacturer's stock valued at $38,396,634,000 after purchasing an additional 1,548,699 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in Broadcom by 3.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 85,546,083 shares of the semiconductor manufacturer's stock valued at $29,607,500,000 after buying an additional 2,491,644 shares in the last quarter. Finally, Norges Bank acquired a new position in Broadcom in the fourth quarter valued at about $24,252,196,000. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Broadcom Price Performance

Shares of AVGO stock opened at $370.78 on Wednesday. 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 firm has a market capitalization of $1.76 trillion, a price-to-earnings ratio of 61.80, a PEG ratio of 0.66 and a beta of 1.45. The firm's 50 day moving average is $405.96 and its 200-day moving average is $363.03. Broadcom Inc. has a 1 year low of $269.58 and a 1 year high of $495.00.

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, topping the consensus estimate of $2.40 by $0.04. Broadcom had a net margin of 38.85% and a return on equity of 41.61%. The firm had revenue of $22.19 billion during the quarter, compared to analysts' expectations of $22.13 billion. During the same quarter in the previous year, the company posted $1.58 EPS. Broadcom's revenue was up 47.9% on a year-over-year basis. Sell-side analysts forecast that Broadcom Inc. will post 10.24 EPS for the current fiscal year.

Broadcom Announces Dividend

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

Wall Street Analysts Forecast Growth

AVGO has been the subject of several recent analyst reports. Rosenblatt Securities reaffirmed a "buy" rating and set a $500.00 price objective on shares of Broadcom in a report on Thursday, June 4th. Morgan Stanley set a $502.00 target price on Broadcom and gave the stock an "overweight" rating in a report on Thursday, June 4th. Royal Bank Of Canada increased their price target on Broadcom from $360.00 to $400.00 and gave the stock a "sector perform" rating in a research report on Thursday, June 4th. Wall Street Zen raised Broadcom from a "buy" rating to a "strong-buy" rating in a report on Wednesday, July 1st. Finally, Oppenheimer reiterated an "outperform" rating and issued a $535.00 price objective (up from $450.00) on shares of Broadcom in a research report on Thursday, June 4th. One analyst has rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $493.24.

Broadcom News Roundup

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom extended its chip and wireless component partnership with Apple through 2031, including custom ASIC silicon for Apple’s AI server chips. Investors view the deal as a major win because it locks in a durable revenue stream and improves visibility into Broadcom’s future cash flow. Apple and Broadcom Forge a Decade-Long Silicon Fortress
• Positive Sentiment: Several analysts and commentators reiterated a bullish view on Broadcom, arguing the Apple extension strengthens its “AI infrastructure” story and makes the stock look more attractive after the recent pullback. Bull v. Bear: AVGO New Value as Sell-Off Steepens
• Neutral Sentiment: Broadcom also benefited from a broader rebound in chip names, with investors reacting to renewed enthusiasm for AI and semiconductor spending, even as some of that move looked tied to sector rotation rather than company-specific news. Allegro MicroSystems and Penguin Solutions Shares Skyrocket, What You Need To Know
• Neutral Sentiment: A recent hold rating reaffirmation from Erste Group Bank did not materially change the story, but it may temper near-term upside if investors were expecting a fresh bullish catalyst. Benzinga report on Erste Group Bank reaffirmation
• Negative Sentiment: Broader semiconductor weakness and a global tech sell-off, tied in part to a margin/liquidity shock in Asia, have weighed on AVGO and other chip stocks despite no clear deterioration in fundamentals. The AI Chip Sell-Off Looks Scary, But the Real Story May Be Liquidity
• Negative Sentiment: AVGO remains well below its recent highs and is being described as in a bear market, reflecting ongoing valuation pressure and investor caution after the sector pullback. Bull v. Bear: AVGO New Value as Sell-Off Steepens

Insider Buying and Selling at Broadcom

In related news, insider Mark David Brazeal sold 4,825 shares of the firm's stock in a transaction dated 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 $106,621,355.99. This trade represents a 1.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider S. Ram Velaga sold 17,260 shares of Broadcom stock in a transaction dated Thursday, April 9th. The stock was sold at an average price of $352.12, for a total value of $6,077,591.20. Following the completion of the sale, the insider owned 65,932 shares of the company's stock, valued at approximately $23,215,975.84. The trade was a 20.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 36,014 shares of company stock valued at $13,174,907 over the last ninety days. Company insiders own 1.90% of the company's stock.

Broadcom Company Profile

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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