Rossmore Private Capital Acquires 1,480 Shares of Broadcom Inc. $AVGO

Key Points

• Rossmore Private Capital increased its Broadcom stake by 2.2% in the first quarter, buying 1,480 additional shares and bringing its holdings to 70,243 shares valued at about $21.7 million.
• Broadcom reported strong quarterly results, with EPS of $2.44 and revenue of $22.19 billion, both slightly ahead of analyst expectations; revenue also jumped 47.9% from a year earlier.
• The company recently paid a quarterly dividend of $0.65 per share and continues to draw bullish analyst and AI-related attention, with several firms raising price targets and citing Broadcom as a key beneficiary of AI infrastructure spending.

Rossmore Private Capital grew its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 2.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 70,243 shares of the semiconductor manufacturer's stock after purchasing an additional 1,480 shares during the quarter. Broadcom makes up 1.9% of Rossmore Private Capital's investment portfolio, making the stock its 12th largest holding. Rossmore Private Capital's holdings in Broadcom were worth $21,741,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in AVGO. Norges Bank purchased a new stake in Broadcom during the fourth quarter worth about $24,252,196,000. Cardano Risk Management B.V. grew its position in shares of Broadcom by 895.2% during the 4th quarter. Cardano Risk Management B.V. now owns 12,689,800 shares of the semiconductor manufacturer's stock valued at $4,391,940,000 after acquiring an additional 11,414,701 shares during the period. State Street Corp grew its position in shares of Broadcom by 2.7% during the 4th quarter. State Street Corp now owns 190,084,351 shares of the semiconductor manufacturer's stock valued at $65,788,194,000 after acquiring an additional 5,040,801 shares during the period. Vanguard Group Inc. increased its stake in shares of Broadcom by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 482,707,302 shares of the semiconductor manufacturer's stock worth $167,064,997,000 after purchasing an additional 3,919,715 shares during the last quarter. Finally, Nordea Investment Management AB raised its holdings in shares of Broadcom by 47.5% in the 4th quarter. Nordea Investment Management AB now owns 9,814,757 shares of the semiconductor manufacturer's stock worth $3,406,211,000 after purchasing an additional 3,160,586 shares during the period. 76.43% of the stock is currently owned by institutional investors.

Broadcom Price Performance

NASDAQ:AVGO opened at $389.11 on Wednesday. The firm has a market capitalization of $1.85 trillion, a price-to-earnings ratio of 64.85, a P/E/G ratio of 0.67 and a beta of 1.45. 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 Inc. has a 52-week low of $273.00 and a 52-week high of $495.00. The stock has a fifty day moving average of $403.86 and a 200 day moving average of $364.80.

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

Broadcom Announces Dividend

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

Broadcom News Summary

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Evercore ISI said Broadcom’s multiyear agreement with Apple is strategically positive, as it strengthens Apple’s AI compute silicon efforts and extends Broadcom’s role as a key custom-chip partner. Broadcom Inc. (AVGO) Agreement a Strategic Positive for Apple, says Evercore ISI
• Positive Sentiment: Reports say Broadcom secured its role as a key Apple supplier through 2031, giving investors more confidence in a long-duration revenue stream. Broadcom Inc. (AVGO) Secures Role as Key Apple Supplier with Chip Deal through 2031
• Positive Sentiment: Morgan Stanley described Broadcom as a “core AI winner,” keeping the stock in focus as one of the main beneficiaries of AI infrastructure spending. Broadcom is a 'core AI winner,' even as MediaTek encroaches, Morgan Stanley says
• Neutral Sentiment: Additional commentary highlighted Broadcom as a major AI stock and a possible outperformer versus other chip names, which adds to the bullish narrative but does not change the near-term business outlook directly. Is Broadcom Inc. (AVGO) a Buy as Wall Street Analysts Look Optimistic?
• Negative Sentiment: There was also an insider-selling headline, which can weigh on sentiment even if it does not necessarily reflect a change in the company’s fundamentals. Insider Selling: Broadcom NASDAQ: AVGO Insider Sells $9,479,750.00 in Stock

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on AVGO shares. DA Davidson upped their price objective on Broadcom from $375.00 to $400.00 and gave the company a "neutral" rating in a research note on Thursday, June 4th. Seaport Research Partners reissued a "neutral" rating on shares of Broadcom in a research report on Wednesday, April 8th. Wells Fargo & Company restated an "overweight" rating and issued a $545.00 target price (up from $430.00) on shares of Broadcom in a research note on Thursday, May 14th. Mizuho upped their price target on Broadcom from $480.00 to $530.00 and gave the company an "outperform" rating in a research report on Thursday, June 4th. Finally, 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. One research analyst has rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, Broadcom has a consensus rating of "Moderate Buy" and an average price target of $493.24.

Insider Activity

In other Broadcom news, insider Mark David Brazeal sold 25,000 shares of the firm's stock in a transaction 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 owned 194,989 shares of the company's stock, valued at $78,254,935.37. This trade represents a 11.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Justine Page sold 1,602 shares of the business's stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $373.86, for a total transaction of $598,923.72. Following the completion of the transaction, the director owned 17,426 shares in the company, 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 have sold 61,644 shares of company stock valued at $24,016,214. 1.90% of the stock is owned by corporate insiders.

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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