Shelton Wealth Management LLC Purchases 2,032 Shares of Broadcom Inc. $AVGO

Key Points

• Shelton Wealth Management LLC increased its Broadcom stake by 124.8% in the first quarter, buying 2,032 shares and bringing its total holding to 3,660 shares valued at about $1.13 million.
• Broadcom continues to benefit from strong AI-related and strategic demand, including a $30 billion+ Apple agreement through 2031 and bullish analyst commentary on its AI chip and networking business.
• Despite solid earnings and revenue growth, some caution is emerging: Broadcom stock is near a $1.9 trillion market cap, and Erste Group recently downgraded the stock to Hold due to valuation concerns.

Shelton Wealth Management LLC grew its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 124.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,660 shares of the semiconductor manufacturer's stock after buying an additional 2,032 shares during the quarter. Shelton Wealth Management LLC's holdings in Broadcom were worth $1,133,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Strata Wealth Advisors LLC increased its stake in shares of Broadcom by 2.9% during the first quarter. Strata Wealth Advisors LLC now owns 2,546 shares of the semiconductor manufacturer's stock valued at $788,000 after buying an additional 72 shares during the period. Fischer Financial Services Inc. lifted its stake in Broadcom by 1.2% in the first quarter. Fischer Financial Services Inc. now owns 24,935 shares of the semiconductor manufacturer's stock worth $7,718,000 after acquiring an additional 298 shares during the period. Canvas Wealth Advisors LLC lifted its stake in Broadcom by 1.7% in the first quarter. Canvas Wealth Advisors LLC now owns 10,144 shares of the semiconductor manufacturer's stock worth $3,140,000 after acquiring an additional 170 shares during the period. Walser Wealth Management Company A Ltd Liability Co grew its holdings in Broadcom by 2.6% during the 1st quarter. Walser Wealth Management Company A Ltd Liability Co now owns 2,026 shares of the semiconductor manufacturer's stock worth $627,000 after acquiring an additional 52 shares in the last quarter. Finally, Hodges Capital Management Inc. grew its holdings in Broadcom by 25.4% during the 1st quarter. Hodges Capital Management Inc. now owns 29,739 shares of the semiconductor manufacturer's stock worth $9,204,000 after acquiring an additional 6,015 shares in the last quarter. Institutional investors own 76.43% of the company's stock.

Key Headlines Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom’s expanded Apple agreement, valued at more than $30 billion through 2031, strengthens visibility for revenue and highlights demand beyond AI chips. Why Broadcom Stock Rose Today
• Positive Sentiment: Analysts remain upbeat on Broadcom’s AI business, with Jefferies reiterating a Buy rating and a $550 price target as AI chip momentum improves. Broadcom’s (AVGO) AI Chip Momentum Keeps Wall Street Bullish
• Positive Sentiment: Broadcom is being viewed as a broader AI infrastructure winner because its networking products help connect large-scale AI systems, expanding the investment thesis beyond GPUs and custom chips. Broadcom stock's latest catalyst targets Nvidia where it looks strongest
• Neutral Sentiment: Some coverage notes Broadcom’s near-$2 trillion market value and strong AI revenue growth, but also suggests much of the good news may already be reflected in the stock. Broadcom Is Less Than 5% From the $2 Trillion Club -- and Apple Just Committed $30 Billion for More Chips
• Negative Sentiment: Erste Group downgraded Broadcom to Hold, citing valuation concerns, which may be limiting upside after the recent rally. Erste Group downgrades Broadcom to Hold citing valuation concerns

Broadcom Stock Performance

AVGO stock opened at $399.97 on Friday. The firm has a market cap of $1.90 trillion, a price-to-earnings ratio of 66.66, a PEG ratio of 0.70 and a beta of 1.45. The firm has a 50-day simple moving average of $405.29 and a two-hundred day simple moving average of $364.13. Broadcom Inc. has a one year low of $269.58 and a one year 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 released its quarterly earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share for the quarter, beating analysts' consensus estimates of $2.40 by $0.04. The business had revenue of $22.19 billion for 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 company's revenue was up 47.9% compared to the same quarter last year. During the same period last year, the business earned $1.58 EPS. On average, equities analysts forecast that Broadcom Inc. will post 10.24 EPS for the current fiscal year.

Broadcom Dividend Announcement

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

Insider Activity

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 transaction, the director directly owned 17,426 shares of the company's stock, valued at approximately $6,514,884.36. The trade was a 8.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gayla J. Delly sold 1,890 shares of the company's stock in a transaction on Wednesday, July 8th. The stock was sold at an average price of $385.38, for a total value of $728,368.20. Following the transaction, the director directly owned 31,326 shares in the company, valued at approximately $12,072,413.88. The trade was a 5.69% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 36,644 shares of company stock valued at $13,982,964 over the last three months. Company insiders own 1.90% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on AVGO. JPMorgan Chase & Co. boosted their price target on shares of Broadcom from $500.00 to $580.00 and gave the company an "overweight" rating in a report on Thursday, June 4th. Mizuho increased their price objective on shares of Broadcom from $480.00 to $530.00 and gave the company an "outperform" rating in a research note on Thursday, June 4th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and set a $515.00 price objective (up from $430.00) on shares of Broadcom in a report on Thursday, June 4th. Citigroup reissued a "buy" rating on shares of Broadcom in a research note on Thursday, June 4th. Finally, Oppenheimer restated an "outperform" rating and set a $535.00 target price (up from $450.00) on shares of Broadcom in a report on Thursday, June 4th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $493.24.

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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