PKO Investment Management Joint Stock Co Trims Holdings in Broadcom Inc. $AVGO

Key Points

• PKO Investment Management cut its Broadcom stake by 35.6% in the first quarter, selling 32,000 shares and leaving it with 58,000 shares worth about $18.0 million.
• Broadcom reported strong quarterly results, with EPS of $2.44 and revenue of $22.19 billion, both slightly above expectations and up 47.9% year over year.
• Analysts remain upbeat on AVGO, with several firms raising price targets and the stock holding a Moderate Buy consensus and average target price of $493.24.

PKO Investment Management Joint Stock Co lessened its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 35.6% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 58,000 shares of the semiconductor manufacturer's stock after selling 32,000 shares during the quarter. Broadcom comprises 1.5% of PKO Investment Management Joint Stock Co's portfolio, making the stock its 14th largest holding. PKO Investment Management Joint Stock Co's holdings in Broadcom were worth $17,952,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in AVGO. Values First Advisors Inc. grew its position in Broadcom by 12.0% during the first quarter. Values First Advisors Inc. now owns 4,050 shares of the semiconductor manufacturer's stock worth $1,254,000 after buying an additional 433 shares in the last quarter. PMG Family Office LLC raised its stake in shares of Broadcom by 3.7% during the first quarter. PMG Family Office LLC now owns 1,242 shares of the semiconductor manufacturer's stock worth $384,000 after acquiring an additional 44 shares in the last quarter. FFG Partners LLC raised its position in Broadcom by 0.3% in the 1st quarter. FFG Partners LLC now owns 53,327 shares of the semiconductor manufacturer's stock worth $16,505,000 after purchasing an additional 135 shares during the period. Stewardship Advisors LLC lifted its stake in shares of Broadcom by 8.0% in the 1st quarter. Stewardship Advisors LLC now owns 2,067 shares of the semiconductor manufacturer's stock valued at $640,000 after acquiring an additional 153 shares during the last quarter. Finally, Intergy Private Wealth LLC boosted its stake in shares of Broadcom by 5.3% during the first quarter. Intergy Private Wealth LLC now owns 4,338 shares of the semiconductor manufacturer's stock valued at $1,343,000 after purchasing an additional 218 shares during the period. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Trending Headlines about Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom and OpenAI unveiled Jalapeño, a custom AI inference chip that could expand Broadcom’s role in AI infrastructure and deepen its long-term partnership with OpenAI. Reuters: OpenAI unveils custom chip it designed with Broadcom to boost its AI infrastructure
• Positive Sentiment: Early testing suggests the new chip delivers better performance per watt, which supports Broadcom’s AI efficiency story and could improve adoption with hyperscale data-center customers. GlobeNewswire: OpenAI and Broadcom Unveil LLM-Optimized Intelligence Processor
• Neutral Sentiment: Broadcom raised its tender offer for senior notes to $3 billion, a financing move that may affect investor views on leverage and capital allocation more than near-term earnings. MSN: Broadcom raises tender offer for its senior notes to $3 billion
• Neutral Sentiment: Commentary around AI-chip sector volatility and whether the AI trade is cooling adds mixed context, but does not change Broadcom’s core AI growth narrative. Benzinga: Broadcom, OpenAI Unveil ‘Jalapeño’ AI Inference Chip
• Negative Sentiment: Some prior reports noted weakness in the broader semiconductor complex and concerns about AI infrastructure spending, which could limit upside if the sector selloff continues. Yahoo Finance: Broadcom (AVGO) Stock Trades Down, Here Is Why

Insider Transactions at Broadcom

In related news, insider Charlie B. Kawwas sold 10,000 shares of the stock in a transaction dated Wednesday, April 8th. The stock was sold at an average price of $345.23, for a total transaction of $3,452,300.00. Following the completion of the sale, the insider owned 787,184 shares in the company, valued at approximately $271,759,532.32. This trade represents a 1.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Justine Page sold 2,018 shares of the stock in a transaction that occurred on Wednesday, April 8th. The shares were sold at an average price of $353.00, for a total transaction of $712,354.00. Following the sale, the director directly owned 18,164 shares of the company's stock, valued at approximately $6,411,892. This trade represents a 10.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 59,385 shares of company stock valued at $21,301,057. 1.90% of the stock is owned by corporate insiders.

Broadcom Trading Up 0.3%

Shares of Broadcom stock opened at $381.30 on Thursday. The company's fifty day simple moving average is $412.37 and its 200-day simple moving average is $363.42. Broadcom Inc. has a 1-year low of $262.66 and a 1-year high of $495.00. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.24 and a quick ratio of 2.01. The stock has a market capitalization of $1.81 trillion, a PE ratio of 63.55, a P/E/G ratio of 0.67 and a beta of 1.41.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its quarterly 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 business had revenue of $22.19 billion during the quarter, compared to analysts' expectations of $22.13 billion. Broadcom had a return on equity of 41.61% and a net margin of 38.85%.The business's quarterly revenue was up 47.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.58 earnings per share. As a group, equities analysts anticipate that Broadcom Inc. will post 10.24 earnings per share for the current year.

Broadcom Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 22nd will be issued a $0.65 dividend. The ex-dividend date of this dividend is Monday, June 22nd. This represents a $2.60 annualized dividend and a yield of 0.7%. Broadcom's dividend payout ratio is currently 43.33%.

Analyst Ratings Changes

AVGO has been the topic of a number of research analyst reports. Bank of America boosted their price target on Broadcom from $450.00 to $530.00 and gave the company a "buy" rating in a report on Thursday, June 4th. Evercore reissued an "outperform" rating and issued a $582.00 target price on shares of Broadcom in a research report on Tuesday, May 19th. Benchmark upped their price objective on shares of Broadcom from $485.00 to $545.00 and gave the stock a "buy" rating in a report on Thursday, June 4th. Truist Financial increased their target price on Broadcom from $545.00 to $550.00 and gave the stock a "buy" rating in a research note on Thursday, June 4th. Finally, Citigroup reissued a "buy" rating on shares of Broadcom in a research report on Thursday, June 4th. One research analyst has rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, Broadcom has an average rating of "Moderate Buy" and a consensus target price of $493.24.

About Broadcom

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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