NWF Advisory Services Inc. Has $4.36 Million Holdings in Broadcom Inc. $AVGO

Key Points

• NWF Advisory Services increased its Broadcom stake by 19.6% in the fourth quarter, bringing its holdings to 12,584 shares valued at about $4.36 million.
• Broadcom continues to attract institutional interest, with hedge funds and other institutions owning 76.43% of the company’s stock. Several firms also boosted their positions during recent reporting periods.
• The article highlights a generally positive outlook for Broadcom: it beat quarterly earnings and revenue estimates, raised investor confidence with a $3 billion debt tender offer, and received multiple bullish analyst calls and price target increases.

NWF Advisory Services Inc. grew its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 19.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,584 shares of the semiconductor manufacturer's stock after acquiring an additional 2,059 shares during the quarter. NWF Advisory Services Inc.'s holdings in Broadcom were worth $4,355,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Brighton Jones LLC boosted its holdings in Broadcom by 21.8% in the 4th quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer's stock valued at $6,882,000 after purchasing an additional 5,322 shares during the period. Revolve Wealth Partners LLC increased its holdings in shares of Broadcom by 10.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 7,997 shares of the semiconductor manufacturer's stock worth $1,854,000 after purchasing an additional 756 shares during the period. United Bank increased its holdings in shares of Broadcom by 76.5% during the 1st quarter. United Bank now owns 2,339 shares of the semiconductor manufacturer's stock worth $392,000 after purchasing an additional 1,014 shares during the period. Sivia Capital Partners LLC raised its position in shares of Broadcom by 10.1% during the second quarter. Sivia Capital Partners LLC now owns 12,693 shares of the semiconductor manufacturer's stock valued at $3,499,000 after buying an additional 1,160 shares during the last quarter. Finally, Capital & Planning LLC raised its position in shares of Broadcom by 10.5% during the second quarter. Capital & Planning LLC now owns 3,983 shares of the semiconductor manufacturer's stock valued at $1,098,000 after buying an additional 378 shares during the last quarter. Institutional investors and hedge funds own 76.43% of the company's stock.

Key Stories Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom’s debt tender offer was upsized to $3 billion after strong investor demand, signaling active balance-sheet management and reinforcing investor confidence. Broadcom Inc. Announces Results and Upsize of Offers to Purchase for Cash Certain of its Outstanding Debt Securities
• Positive Sentiment: JPMorgan remained bullish on Broadcom, saying investors should be “aggressive buyers,” which supports the view that the market may still be underestimating AVGO’s AI growth. AVGO stock jumps — JPMorgan says investors should be 'aggressive buyers' of Broadcom at current levels
• Positive Sentiment: Citi also called Broadcom a top chip stock on strong data-center demand, adding another bullish Wall Street view tied to AI infrastructure spending. Citi Touts Broadcom Inc. (AVGO) as a Top Chip Stock on Soaring Data Center Demand
• Positive Sentiment: One report said VMware, Broadcom’s second-largest business, may be set to accelerate, which could broaden growth beyond the company’s AI chip exposure. VMware: Broadcom's Second Biggest Business Set to Accelerate
• Neutral Sentiment: Insider Mark David Brazeal sold shares in two June transactions, but the sales were relatively small versus his remaining stake and do not necessarily change the broader investment thesis. Mark David Brazeal insider trading page
• Negative Sentiment: One analyst warned that chip valuations are getting stretched and suggested investors could consider alternatives, including Broadcom, which may temper enthusiasm if valuation concerns intensify. Analyst Warns Intel Valuation ‘Doesn't Make Sense.' Suggests NVIDIA, AMD, Micron, and Broadcom as Alternatives.

Broadcom Price Performance

Shares of Broadcom stock opened at $411.35 on Friday. The firm has a market cap of $1.96 trillion, a P/E ratio of 68.56, a price-to-earnings-growth ratio of 0.72 and a beta of 1.41. The firm's 50-day simple moving average is $411.42 and its 200-day simple moving average is $363.50. Broadcom Inc. has a twelve month low of $244.17 and a twelve month 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.

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

Broadcom Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 22nd will be paid a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 0.6%. The ex-dividend date is Monday, June 22nd. Broadcom's dividend payout ratio is currently 43.33%.

Insiders Place Their Bets

In other Broadcom news, insider Charlie B. Kawwas sold 10,000 shares of the company's stock in a transaction on Wednesday, April 8th. The stock was sold at an average price of $345.23, for a total value of $3,452,300.00. Following the sale, the insider directly owned 787,184 shares in the company, valued at $271,759,532.32. This represents a 1.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider S. Ram Velaga sold 17,260 shares of the stock in a transaction on 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 transaction, the insider owned 65,932 shares of the company's stock, valued at $23,215,975.84. This represents a 20.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 59,385 shares of company stock worth $21,301,057 in the last 90 days. 1.90% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on AVGO shares. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and set a $515.00 target price (up from $430.00) on shares of Broadcom 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 Monday, June 15th. Jefferies Financial Group set a $550.00 price objective on Broadcom and gave the stock a "buy" rating in a research report on Thursday, June 4th. Citigroup reissued a "buy" rating on shares of Broadcom in a report on Thursday, June 4th. Finally, DA Davidson lifted their price objective on Broadcom from $375.00 to $400.00 and gave the stock a "neutral" rating in a report on Thursday, June 4th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $490.13.

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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