Geneva Partners LLC Has $9.63 Million Position in Broadcom Inc. $AVGO

Key Points

• Geneva Partners LLC cut its Broadcom stake by 28.4% in the first quarter, selling 12,370 shares and ending with 31,129 shares worth about $9.63 million.
• Broadcom reported strong quarterly results, with EPS of $2.44 and revenue of $22.19 billion, both slightly ahead of analyst expectations; revenue also jumped 47.9% year over year.
• Wall Street remains broadly bullish on Broadcom, with an average “Moderate Buy” rating and a consensus price target of $493.24, though some analysts have raised valuation concerns after the stock’s rally.

Geneva Partners LLC lowered its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 28.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,129 shares of the semiconductor manufacturer's stock after selling 12,370 shares during the period. Broadcom comprises about 4.6% of Geneva Partners LLC's portfolio, making the stock its 4th largest position. Geneva Partners LLC's holdings in Broadcom were worth $9,635,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the company. Norges Bank purchased a new stake in Broadcom in the 4th quarter valued at about $24,252,196,000. Cardano Risk Management B.V. lifted its position in shares of Broadcom by 895.2% during the 4th quarter. Cardano Risk Management B.V. now owns 12,689,800 shares of the semiconductor manufacturer's stock worth $4,391,940,000 after buying an additional 11,414,701 shares in the last quarter. State Street Corp boosted its stake in shares of Broadcom by 2.7% in the 4th quarter. State Street Corp now owns 190,084,351 shares of the semiconductor manufacturer's stock worth $65,788,194,000 after buying an additional 5,040,801 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in shares of Broadcom by 499.4% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 5,634,232 shares of the semiconductor manufacturer's stock worth $1,858,789,000 after buying an additional 4,694,313 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of Broadcom by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 482,707,302 shares of the semiconductor manufacturer's stock valued at $167,064,997,000 after acquiring an additional 3,919,715 shares in the last quarter. 76.43% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. UBS Group set a $485.00 price target on Broadcom and gave the stock a "buy" rating in a report on Thursday, June 4th. Mizuho upped their price objective on Broadcom from $480.00 to $530.00 and gave the company an "outperform" rating in a research note on Thursday, June 4th. Benchmark raised their target price on Broadcom from $485.00 to $545.00 and gave the company a "buy" rating in a research report on Thursday, June 4th. Erste Group Bank reiterated a "hold" rating on shares of Broadcom in a research note on Tuesday. Finally, Weiss Ratings downgraded shares of Broadcom from a "buy (b)" rating to a "buy (b-)" rating in a report on Friday, June 26th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Broadcom has an average rating of "Moderate Buy" and an average target price of $493.24.

Broadcom Price Performance

Broadcom stock opened at $399.97 on Friday. Broadcom Inc. has a 12 month low of $269.58 and a 12 month high of $495.00. 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 business's 50 day simple moving average is $405.29 and its 200 day simple moving average is $364.13. The company has a market cap of $1.90 trillion, a price-to-earnings ratio of 66.66, a PEG ratio of 0.70 and a beta of 1.45.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.40 by $0.04. The business had revenue of $22.19 billion during the quarter, compared to the consensus estimate of $22.13 billion. Broadcom had a return on equity of 41.61% and a net margin of 38.85%.The business's revenue for the quarter was up 47.9% on a year-over-year basis. During the same period last year, the business posted $1.58 earnings per share. Sell-side analysts forecast that Broadcom Inc. will post 10.24 EPS for the current year.

Broadcom Dividend Announcement

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. The ex-dividend date was Monday, June 22nd. This represents a $2.60 annualized dividend and a dividend yield of 0.7%. Broadcom's dividend payout ratio is presently 43.33%.

Key Broadcom News

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom’s expanded Apple agreement, valued at more than $30 billion through 2031, strengthens visibility for revenue and highlights demand beyond AI chips. Why Broadcom Stock Rose Today
• Positive Sentiment: Analysts remain upbeat on Broadcom’s AI business, with Jefferies reiterating a Buy rating and a $550 price target as AI chip momentum improves. Broadcom’s (AVGO) AI Chip Momentum Keeps Wall Street Bullish
• Positive Sentiment: Broadcom is being viewed as a broader AI infrastructure winner because its networking products help connect large-scale AI systems, expanding the investment thesis beyond GPUs and custom chips. Broadcom stock's latest catalyst targets Nvidia where it looks strongest
• Neutral Sentiment: Some coverage notes Broadcom’s near-$2 trillion market value and strong AI revenue growth, but also suggests much of the good news may already be reflected in the stock. Broadcom Is Less Than 5% From the $2 Trillion Club -- and Apple Just Committed $30 Billion for More Chips
• Negative Sentiment: Erste Group downgraded Broadcom to Hold, citing valuation concerns, which may be limiting upside after the recent rally. Erste Group downgrades Broadcom to Hold citing valuation concerns

Insider Transactions at Broadcom

In related news, Director Justine Page sold 1,602 shares of Broadcom 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 sale, the director owned 17,426 shares of the company's stock, valued at approximately $6,514,884.36. This trade represents a 8.42% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Harry L. You acquired 1,000 shares of the stock in a transaction that occurred on Thursday, June 11th. The stock was purchased at an average price of $373.57 per share, for a total transaction of $373,570.00. Following the completion of the purchase, the director directly owned 38,466 shares in the company, valued at $14,369,743.62. This trade represents a 2.67% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders sold 36,644 shares of company stock worth $13,982,964. 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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