SageGuard Financial Group LLC Grows Holdings in Broadcom Inc. $AVGO

Key Points

• SageGuard Financial Group LLC increased its Broadcom stake by 34% in the first quarter, buying 1,766 more shares and bringing its total to 6,965 shares worth about $2.16 million.
• Broadcom continues to draw strong institutional and analyst support, with institutional investors owning 76.43% of the company and analysts maintaining a consensus “Moderate Buy” rating with an average price target of $493.24.
• The company reported solid quarterly results, beating earnings expectations with $2.44 EPS and posting $22.19 billion in revenue, while also paying a quarterly dividend of $0.65 per share.

SageGuard Financial Group LLC boosted its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 34.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,965 shares of the semiconductor manufacturer's stock after acquiring an additional 1,766 shares during the period. SageGuard Financial Group LLC's holdings in Broadcom were worth $2,156,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position 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 valued at $167,064,997,000 after purchasing an additional 3,919,715 shares during the period. State Street Corp lifted its stake 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 buying an additional 5,040,801 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Broadcom by 1.4% in the 4th quarter. Geode Capital Management LLC now owns 111,277,280 shares of the semiconductor manufacturer's stock worth $38,396,634,000 after buying an additional 1,548,699 shares during the period. Price T Rowe Associates Inc. MD increased its stake in Broadcom by 3.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 85,546,083 shares of the semiconductor manufacturer's stock worth $29,607,500,000 after buying an additional 2,491,644 shares in the last quarter. Finally, Norges Bank purchased a new stake in Broadcom in the 4th quarter worth $24,252,196,000. Institutional investors own 76.43% of the company's stock.

Insider Buying and Selling

In other Broadcom news, Director Justine Page sold 1,602 shares of Broadcom stock in a transaction on Monday, June 29th. The shares were sold at an average price of $373.86, for a total value of $598,923.72. Following the completion of the transaction, the director directly owned 17,426 shares of the company's stock, valued at $6,514,884.36. This trade represents a 8.42% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Harry L. You bought 1,000 shares of Broadcom stock in a transaction dated Thursday, June 11th. The stock was acquired at an average price of $373.57 per share, for a total transaction of $373,570.00. Following the completion of the acquisition, the director owned 38,466 shares in the company, valued at approximately $14,369,743.62. The trade was a 2.67% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have sold a total of 60,987 shares of company stock valued at $21,899,980 in the last three months. Corporate insiders own 1.90% of the company's stock.

Broadcom Price Performance

NASDAQ:AVGO opened at $360.45 on Friday. The company has a current ratio of 2.24, a quick ratio of 2.01 and a debt-to-equity ratio of 0.71. The company has a market capitalization of $1.71 trillion, a P/E ratio of 60.08, a P/E/G ratio of 0.65 and a beta of 1.45. Broadcom Inc. has a 12 month low of $269.58 and a 12 month high of $495.00. The business's 50-day moving average is $409.17 and its 200 day moving average is $362.34.

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

Broadcom Dividend Announcement

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

Key Stories Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Wall Street remains upbeat on Broadcom’s AI growth story, with UBS reaffirming a Buy rating and $485 target on strong AI ASIC demand tied to customers like OpenAI and Anthropic. UBS Reaffirms Buy Rating on Broadcom (AVGO) Amid AI ASIC Demand and OpenAI, Anthropic Growth
• Positive Sentiment: Several recent pieces point to Broadcom’s expanding role in custom AI silicon and its OpenAI-related accelerator work, reinforcing the long-term revenue opportunity from AI infrastructure spending.
• Positive Sentiment: Analysts continue to view recent weakness as a buying opportunity, with multiple firms maintaining bullish targets well above the current share price.
• Neutral Sentiment: Commentary this week also highlighted Broadcom as a major beneficiary of the broader semiconductor and AI trade, but much of that optimism simply reiterates an already well-known investment thesis.
• Negative Sentiment: Director Justine Page sold 1,602 shares at $373.86, adding to recent insider-selling headlines that can make investors cautious. SEC Form 4 filing for Justine Page sale
• Negative Sentiment: Broadcom’s post-earnings pullback has continued to draw attention, as investors worry the company’s strong results and guidance still weren’t enough to satisfy very high expectations.

Analysts Set New Price Targets

AVGO has been the topic of several research analyst reports. Zacks Research downgraded Broadcom from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 21st. Dbs Bank raised Broadcom to a "moderate buy" rating in a research note on Thursday, June 18th. Jefferies Financial Group set a $550.00 price target on Broadcom and gave the stock a "buy" rating in a report on Thursday, June 4th. TD Cowen restated a "buy" rating and issued a $500.00 price target on shares of Broadcom in a research note on Thursday, June 4th. Finally, Truist Financial increased their price objective on shares of Broadcom from $545.00 to $550.00 and gave the company a "buy" rating in a report on Thursday, June 4th. One analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target 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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