Horst & Graben Wealth Management LLC Boosts Holdings in Broadcom Inc. $AVGO

Key Points

• Horst & Graben Wealth Management increased its Broadcom stake by 78.9% in the first quarter, ending with 6,286 shares valued at about $1.95 million.
• Broadcom reported strong quarterly results, with $2.44 EPS and $22.19 billion in revenue, both slightly above expectations, while revenue rose 47.9% from a year earlier.
• Analysts remain mostly positive on AVGO, but insider selling and some valuation concerns have tempered sentiment; the stock has a Moderate Buy consensus and an average price target of $493.24.

Horst & Graben Wealth Management LLC grew its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 78.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,286 shares of the semiconductor manufacturer's stock after purchasing an additional 2,772 shares during the quarter. Horst & Graben Wealth Management LLC's holdings in Broadcom were worth $1,946,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. ROSS JOHNSON & Associates LLC boosted its holdings in Broadcom by 1,320.0% in the 4th 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 last quarter. SWAN Capital LLC increased its stake in Broadcom by 261.9% during the 4th quarter. SWAN Capital LLC now owns 76 shares of the semiconductor manufacturer's stock worth $26,000 after buying an additional 55 shares in the last quarter. Networth Advisors LLC raised its holdings in shares of Broadcom by 546.2% during the first 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. Miller Global Investments LLC acquired a new position in shares of Broadcom during the fourth quarter valued at approximately $31,000. Finally, Nvest Wealth Strategies Inc. purchased a new position in shares of Broadcom in the fourth quarter valued at approximately $33,000. Hedge funds and other institutional investors own 76.43% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on AVGO shares. Jefferies Financial Group set a $550.00 price target on Broadcom and gave the stock a "buy" rating in a research note on Thursday, June 4th. Dbs Bank raised Broadcom to a "moderate buy" rating in a research note on Thursday, June 18th. DA Davidson raised their price objective on Broadcom from $375.00 to $400.00 and gave the company a "neutral" rating in a report on Thursday, June 4th. Zacks Research cut shares of Broadcom from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 21st. Finally, Truist Financial upped their target price on shares of Broadcom from $545.00 to $550.00 and gave the stock a "buy" rating in a 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 issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $493.24.

Insider Activity

In other Broadcom news, Director Justine Page sold 1,602 shares of the firm's stock in a transaction on Monday, June 29th. The stock was sold at an average price of $373.86, for a total transaction of $598,923.72. Following the completion of the sale, the director owned 17,426 shares of the company's stock, valued at $6,514,884.36. This trade represents 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 available through the SEC website. Also, Director Gayla J. Delly sold 1,890 shares of the firm's stock in a transaction on Wednesday, July 8th. The stock was sold at an average price of $385.38, for a total value of $728,368.20. Following the sale, the director directly owned 31,326 shares of the company's stock, valued at approximately $12,072,413.88. This trade represents a 5.69% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 36,644 shares of company stock worth $13,982,964 in the last 90 days. 1.90% of the stock is owned by corporate insiders.

Key Headlines Impacting Broadcom

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

Broadcom Trading Down 0.3%

Shares of AVGO 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 firm has a market capitalization of $1.90 trillion, a P/E ratio of 66.66, a P/E/G ratio of 0.70 and a beta of 1.45. The firm has a 50-day moving average price of $405.29 and a 200 day moving average price of $364.13. The company has a current ratio of 2.24, a quick ratio of 2.01 and a debt-to-equity ratio of 0.71.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 EPS for the quarter, topping analysts' consensus estimates of $2.40 by $0.04. The company had revenue of $22.19 billion for the quarter, compared to the consensus estimate of $22.13 billion. Broadcom had a net margin of 38.85% and a return on equity of 41.61%. Broadcom's quarterly revenue was up 47.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.58 earnings per share. Sell-side analysts forecast that Broadcom Inc. will post 10.24 EPS for the current 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 issued a dividend of $0.65 per share. The ex-dividend date was Monday, June 22nd. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.7%. Broadcom's dividend payout ratio (DPR) is currently 43.33%.

Broadcom 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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