Noesis Capital Mangement Corp Purchases 14,188 Shares of Broadcom Inc. $AVGO

Key Points

• Noesis Capital Management boosted its Broadcom stake by 1,062.8% in the first quarter, buying 14,188 additional shares and bringing its total holdings to 15,523 shares valued at about $4.8 million.
• Broadcom’s latest quarter showed strong earnings and revenue growth, with EPS of $2.44 beating estimates and revenue of $22.19 billion, up 47.9% year over year. The company also continued its dividend, paying $0.65 per share for a 0.7% yield.
• The stock remains a major AI and semiconductor name, but investors are weighing both bullish analyst support and valuation concerns. Broadcom also faces added uncertainty from a reported EU antitrust review related to VMware licensing changes.

Noesis Capital Mangement Corp lifted its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 1,062.8% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 15,523 shares of the semiconductor manufacturer's stock after acquiring an additional 14,188 shares during the quarter. Noesis Capital Mangement Corp's holdings in Broadcom were worth $4,805,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in AVGO. Fullerton Advisors LLC lifted its position in Broadcom by 1.3% during the 1st quarter. Fullerton Advisors LLC now owns 1,989 shares of the semiconductor manufacturer's stock valued at $616,000 after purchasing an additional 25 shares during the period. NORTHSTAR ASSET MANAGEMENT Co raised its stake in shares of Broadcom by 0.5% during the first quarter. NORTHSTAR ASSET MANAGEMENT Co now owns 5,350 shares of the semiconductor manufacturer's stock worth $1,656,000 after buying an additional 25 shares during the last quarter. RFG Holdings Inc. boosted its stake in Broadcom by 0.3% in the first quarter. RFG Holdings Inc. now owns 8,499 shares of the semiconductor manufacturer's stock valued at $2,631,000 after acquiring an additional 26 shares during the last quarter. Yukon Wealth Management Inc. grew its holdings in Broadcom by 1.1% during the 1st quarter. Yukon Wealth Management Inc. now owns 2,501 shares of the semiconductor manufacturer's stock worth $774,000 after acquiring an additional 26 shares during the period. Finally, Capital Planning LLC raised its position in shares of Broadcom by 0.7% during the 1st quarter. Capital Planning LLC now owns 4,044 shares of the semiconductor manufacturer's stock valued at $1,252,000 after acquiring an additional 28 shares during the last quarter. Institutional investors own 76.43% of the company's stock.

Broadcom Price Performance

Shares of AVGO opened at $370.83 on Monday. The stock has a 50 day simple moving average of $401.29 and a 200 day simple moving average of $365.42. Broadcom Inc. has a 52-week low of $273.00 and a 52-week high of $495.00. 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 firm has a market capitalization of $1.76 trillion, a PE ratio of 61.81, a P/E/G ratio of 0.65 and a beta of 1.45.

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, beating 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 firm had revenue of $22.19 billion for the quarter, compared to analyst estimates of $22.13 billion. During the same quarter in the previous year, the firm posted $1.58 earnings per share. The business's revenue was up 47.9% on a year-over-year basis. Sell-side analysts predict 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. Shareholders of record on Monday, June 22nd were paid a $0.65 dividend. The ex-dividend date of this dividend was Monday, June 22nd. This represents a $2.60 annualized dividend and a dividend yield of 0.7%. Broadcom's dividend payout ratio (DPR) is currently 43.33%.

Key Stories Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Standard Chartered chose Broadcom to support a long-term modernization of its global banking infrastructure, underscoring Broadcom’s role in secure private-cloud and enterprise networking solutions. Standard Chartered Selects Broadcom to Deliver Secure, Always-On Banking Services at Global Scale
• Positive Sentiment: Wall Street commentary continues to describe Broadcom as a core AI beneficiary, and some analysts have raised price targets even after the stock pullback. As Shares Fall, Analyst Are Boosting Their Broadcom Price Targets
• Neutral Sentiment: Broadcom remains a major talking point in AI-focused market coverage, with some investors viewing it as an indicator for the broader market and semiconductor cycle. Jim Cramer Says Broadcom Will Tell You When the Market Is About to Turn
• Negative Sentiment: Broadcom is facing renewed skepticism around valuation, with one report asking whether the AI story has made the stock too expensive. Has Broadcom Become Too Expensive for Its AI Story?
• Negative Sentiment: The stock is also being hit by a broader selloff in semiconductor names as investors rotate away from AI-capex winners and worry about a slowdown in chip spending. Marvell Drops 8% as AI Capex Slowdown Fears Weigh on Chips; Broadcom, AMD, and Intel Slide
• Negative Sentiment: Broadcom is also dealing with regulatory uncertainty after reports said it faces an EU antitrust review tied to VMware licensing changes. Broadcom (AVGO) Faces EU Antitrust Review Over VMware Licensing Changes

Analyst Upgrades and Downgrades

AVGO has been the topic of several recent research reports. Wall Street Zen lowered Broadcom from a "strong-buy" rating to a "buy" rating in a research report on Saturday. Evercore reissued an "outperform" rating and issued a $582.00 target price on shares of Broadcom in a research note on Tuesday, May 19th. Dbs Bank upgraded Broadcom to a "moderate buy" rating in a research report on Thursday, June 18th. Benchmark increased their price target on shares of Broadcom from $485.00 to $545.00 and gave the company a "buy" rating in a research report on Thursday, June 4th. Finally, The Goldman Sachs Group restated a "buy" rating and set a $525.00 price objective on shares of Broadcom in a report on Thursday, June 4th. One investment analyst has rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, Broadcom presently has an average rating of "Moderate Buy" and a consensus price target of $493.24.

Insider Transactions at Broadcom

In other news, insider Mark David Brazeal sold 25,000 shares of Broadcom stock in a transaction that occurred on Friday, July 10th. The shares were sold at an average price of $401.33, for a total value of $10,033,250.00. Following the sale, the insider directly owned 194,989 shares in the company, valued at $78,254,935.37. This trade represents a 11.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Justine Page sold 1,602 shares of the 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 transaction, the director owned 17,426 shares of the company's stock, valued at $6,514,884.36. The trade was a 8.42% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 61,644 shares of company stock worth $24,016,214. 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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