PYA Waltman Capital LLC Sells 3,493 Shares of Broadcom Inc. $AVGO

Key Points

• PYA Waltman Capital LLC reduced its Broadcom stake by 17.8% in the fourth quarter, selling 3,493 shares and leaving it with 16,123 shares valued at about $5.58 million.
• Wall Street sentiment remains bullish: multiple analysts recently raised or reiterated positive ratings and price targets, with Broadcom’s consensus target at $490.13 and a “Moderate Buy” rating overall.
• Broadcom posted strong earnings and continued AI optimism, reporting Q2 EPS of $2.44 on revenue of $22.19 billion, while recent commentary highlights the company as a key beneficiary of AI infrastructure spending despite some valuation concerns.

PYA Waltman Capital LLC lessened its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 17.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 16,123 shares of the semiconductor manufacturer's stock after selling 3,493 shares during the period. Broadcom accounts for 1.5% of PYA Waltman Capital LLC's holdings, making the stock its 14th biggest holding. PYA Waltman Capital LLC's holdings in Broadcom were worth $5,580,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Parker Investment Management LLC raised its stake in Broadcom by 0.4% during the fourth quarter. Parker Investment Management LLC now owns 25,931 shares of the semiconductor manufacturer's stock worth $8,975,000 after buying an additional 96 shares during the last quarter. Piedmont Capital Management LLC NC bought a new position in Broadcom during the fourth quarter worth $1,090,000. Progressive Investment Management Corp raised its stake in Broadcom by 15.3% during the fourth quarter. Progressive Investment Management Corp now owns 46,919 shares of the semiconductor manufacturer's stock worth $16,239,000 after buying an additional 6,242 shares during the last quarter. QVT Financial LP bought a new position in Broadcom during the fourth quarter worth $6,085,000. Finally, Resources Management Corp CT ADV raised its stake in Broadcom by 402.1% during the fourth quarter. Resources Management Corp CT ADV now owns 61,608 shares of the semiconductor manufacturer's stock worth $21,322,000 after buying an additional 49,337 shares during the last quarter. Institutional investors own 76.43% of the company's stock.

Analysts Set New Price Targets

AVGO has been the subject of a number of research reports. Susquehanna restated a "positive" rating and issued a $490.00 price target (up from $450.00) on shares of Broadcom in a report on Thursday, May 28th. Weiss Ratings upgraded shares of Broadcom from a "buy (b-)" rating to a "buy (b)" rating in a report on Tuesday, June 9th. Morgan Stanley set a $502.00 price target on shares of Broadcom and gave the stock an "overweight" rating in a report on Thursday, June 4th. KeyCorp restated an "overweight" rating and issued a $575.00 price target (up from $500.00) on shares of Broadcom in a report on Thursday, June 4th. Finally, TD Cowen restated a "buy" rating and issued a $500.00 price target on shares of Broadcom in a report on Thursday, June 4th. One investment analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, Broadcom presently has a consensus rating of "Moderate Buy" and a consensus price target of $490.13.

Broadcom News Summary

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Director Harry L. You bought 1,000 Broadcom shares in a disclosed SEC filing, a vote of confidence that can reassure investors about the company’s outlook. SEC Form 4 filing
• Positive Sentiment: Recent articles continue to frame Broadcom as a major beneficiary of the AI infrastructure buildout, with investors focusing on its custom compute, networking, and semiconductor exposure. Investopedia article
• Positive Sentiment: Broadcom was included in bullish commentary about “beaten down” AI infrastructure stocks, suggesting some investors see the recent pullback as a buying opportunity rather than a fundamental deterioration. 247WallSt article
• Positive Sentiment: Wall Street Zen reportedly upgraded Broadcom to Strong-Buy, adding to the bullish analyst tone around the stock. American Banking News article
• Neutral Sentiment: Some coverage compared Broadcom with other AI infrastructure names and noted that competitors may have stronger near-term upside, which could temper enthusiasm but does not change Broadcom’s long-term AI thesis. Zacks article
• Negative Sentiment: Recent market commentary said Broadcom’s stock pulled back after record quarterly results because investors were focused on cautious AI guidance and valuation concerns, which may be weighing on sentiment. Yahoo Finance article

Insider Activity

In other news, Director Justine Page sold 2,018 shares of Broadcom stock in a transaction dated Wednesday, April 8th. The shares were sold at an average price of $353.00, for a total transaction of $712,354.00. Following the completion of the transaction, the director directly owned 18,164 shares in the company, valued at $6,411,892. This trade represents a 10.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Harry L. You acquired 1,000 shares of Broadcom stock in a transaction dated Thursday, June 11th. The shares were acquired at an average price of $373.57 per share, with a total value of $373,570.00. Following the completion of the acquisition, the director directly owned 38,466 shares of the company's stock, valued at approximately $14,369,743.62. The trade was a 2.67% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders sold 51,233 shares of company stock valued at $18,125,134. 1.90% of the stock is currently owned by insiders.

Broadcom Trading Up 3.1%

NASDAQ:AVGO opened at $393.94 on Tuesday. The stock has a market capitalization of $1.87 trillion, a price-to-earnings ratio of 65.66, a PEG ratio of 0.67 and a beta of 1.41. The firm has a fifty day simple moving average of $405.85 and a two-hundred day simple moving average of $363.29. Broadcom Inc. has a 12 month low of $244.17 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.

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

Broadcom Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 22nd will be issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Monday, June 22nd. 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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