Gateway Wealth Partners LLC Has $9.43 Million Stock Holdings in Broadcom Inc. $AVGO

Key Points

• Gateway Wealth Partners increased its Broadcom stake by 454.8% in the first quarter, acquiring 24,980 additional shares. Its position totaled 30,473 shares valued at approximately $9.43 million, while institutional investors collectively owned 76.43% of AVGO.
• Broadcom reported quarterly earnings of $2.44 per share and revenue of $22.19 billion, exceeding analyst expectations. Revenue rose 47.9% year over year, and the company maintains a quarterly dividend of $0.65 per share, yielding about 0.7%.
• Wall Street remains broadly positive, with 28 Buy ratings and four Holds producing a “Moderate Buy” consensus and an average price target of $493.24. However, shares trade at an elevated PE ratio of 63.49 amid concerns about AI-stock valuations and reliance on hyperscaler spending.

Gateway Wealth Partners LLC boosted its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 454.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 30,473 shares of the semiconductor manufacturer's stock after acquiring an additional 24,980 shares during the period. Gateway Wealth Partners LLC's holdings in Broadcom were worth $9,432,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AVGO. Vanguard Group Inc. raised its stake in shares of Broadcom by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 482,707,302 shares of the semiconductor manufacturer's stock worth $167,064,997,000 after buying an additional 3,919,715 shares during the last quarter. State Street Corp boosted its stake in Broadcom by 2.7% in the fourth quarter. State Street Corp now owns 190,084,351 shares of the semiconductor manufacturer's stock valued at $65,788,194,000 after acquiring an additional 5,040,801 shares during the last quarter. Geode Capital Management LLC boosted its stake in Broadcom by 1.4% in the fourth quarter. Geode Capital Management LLC now owns 111,277,280 shares of the semiconductor manufacturer's stock valued at $38,396,634,000 after acquiring an additional 1,548,699 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake 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 acquiring an additional 2,491,644 shares during the last quarter. Finally, Norges Bank acquired a new stake in Broadcom during the 4th quarter worth $24,252,196,000. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Broadcom Stock Down 0.6%

Shares of NASDAQ:AVGO opened at $380.91 on Wednesday. The company has a 50 day moving average price of $396.06 and a two-hundred day moving average price of $367.39. 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 capitalization of $1.81 trillion, a PE ratio of 63.49, a PEG ratio of 0.73 and a beta of 1.45. Broadcom Inc. has a 52 week low of $281.61 and a 52 week high of $495.00.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced 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 net margin of 38.85% and a return on equity of 41.61%. The company had revenue of $22.19 billion for the quarter, compared to analysts' expectations of $22.13 billion. During the same period last year, the firm posted $1.58 earnings per share. The business's quarterly revenue was up 47.9% compared to the same quarter last year. Analysts forecast that Broadcom Inc. will post 10.24 earnings per share for the current year.

Broadcom Announces Dividend

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

Wall Street Analysts Forecast Growth

AVGO has been the subject of several recent research reports. The Goldman Sachs Group reiterated a "buy" rating and set a $525.00 target price on shares of Broadcom in a research report on Thursday, June 4th. Erste Group Bank restated a "hold" rating on shares of Broadcom in a research report on Tuesday, July 7th. DA Davidson lifted their price objective on Broadcom from $375.00 to $400.00 and gave the stock a "neutral" rating in a research note on Thursday, June 4th. KeyCorp reiterated an "overweight" rating and issued a $575.00 price objective (up from $500.00) on shares of Broadcom in a report on Thursday, June 4th. Finally, Truist Financial increased their target price on Broadcom from $545.00 to $550.00 and gave the company a "buy" rating in a research note on Thursday, June 4th. Twenty-eight analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $493.24.

More Broadcom News

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom’s custom-silicon business continues to attract demand from hyperscalers building AI infrastructure, with new client wins supporting the company’s growth outlook. Broadcom Rose on Strong Custom Silicon Demand and New Client Wins
• Positive Sentiment: Alphabet plans to spend approximately $195 billion to $205 billion on capital expenditures this year, maintaining a substantial customer opportunity for AI processors supplied by Broadcom and Nvidia. Alphabet CEO Sundar Pichai Just Made a Major Decision Affecting Nvidia and Broadcom Investors
• Positive Sentiment: J.P. Morgan said Broadcom will source most of its memory requirements from Samsung through 2030, potentially improving supply visibility as AI-related memory demand expands. Broadcom's Expanded Samsung Pact Shows AI Trade Is Still All About Memory
• Positive Sentiment: Recent investor commentary highlights Broadcom as a direct beneficiary of rising data-center infrastructure spending, with its custom silicon and networking products positioned as a way to monetize hyperscaler AI investment. I'm Buying Broadcom This Week For One Powerful Reason
• Neutral Sentiment: Broadcom has delivered strong long-term shareholder returns and recently benefited from solid quarterly results, although those gains have contributed to elevated expectations. 3 Big Reasons to Love Broadcom
• Negative Sentiment: The immediate pressure on AVGO is sector-wide: chip stocks extended their pullback as investors questioned whether the AI trade resembles a bubble, weighing on the Nasdaq and semiconductor valuations. Chip Stocks Extend Pullback Amid AI Bubble Fears
• Negative Sentiment: Investors remain concerned that hyperscaler capital-expenditure plans could slow or that Broadcom’s dependence on major customers, including Google, may limit its valuation upside. These concerns are competing with the company’s AI growth narrative. Broadcom: Why the Google Share Panic Misses What Broadcom's Moat Actually Is

Insiders Place Their Bets

In other Broadcom news, Director Justine Page sold 1,602 shares of the business's stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $373.86, for a total value of $598,923.72. Following the completion of the transaction, the director directly owned 17,426 shares of the company's stock, valued at approximately $6,514,884.36. The trade was a 8.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Harry L. You bought 1,000 shares of the firm's stock in a transaction on Thursday, June 11th. The stock was acquired at an average cost of $373.57 per share, with a total value of $373,570.00. Following the completion of the purchase, the director owned 38,466 shares of the company's stock, valued at approximately $14,369,743.62. This trade represents a 2.67% increase in their position. The SEC filing for this purchase provides additional information. In the last ninety days, insiders have sold 61,644 shares of company stock valued at $24,016,214. 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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