Simplicity Wealth LLC Purchases 4,905 Shares of Broadcom Inc. $AVGO

Key Points

• Simplicity Wealth LLC increased its Broadcom stake by 15.5% in the first quarter, adding 4,905 shares and bringing its total position to 36,579 shares valued at about $11.3 million.
• Wall Street remains broadly bullish on AVGO, with most analysts rating it a Buy or better and a consensus price target of $493.24, above the stock’s recent trading level around $389.
• Broadcom continues to post strong fundamentals, reporting quarterly EPS of $2.44 on $22.19 billion in revenue, both slightly above expectations, while revenue rose 47.9% year over year.

Simplicity Wealth LLC boosted its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 15.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 36,579 shares of the semiconductor manufacturer's stock after purchasing an additional 4,905 shares during the quarter. Simplicity Wealth LLC's holdings in Broadcom were worth $11,322,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Norges Bank acquired a new position in shares of Broadcom during the fourth quarter valued at about $24,252,196,000. Cardano Risk Management B.V. raised its holdings in shares of Broadcom by 895.2% in the 4th quarter. Cardano Risk Management B.V. now owns 12,689,800 shares of the semiconductor manufacturer's stock worth $4,391,940,000 after acquiring an additional 11,414,701 shares during the last quarter. State Street Corp lifted its position in Broadcom by 2.7% in 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 in the last quarter. Vanguard Group Inc. boosted its stake in 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 last quarter. Finally, Nordea Investment Management AB boosted its stake in Broadcom by 47.5% during the 4th quarter. Nordea Investment Management AB now owns 9,814,757 shares of the semiconductor manufacturer's stock valued at $3,406,211,000 after purchasing an additional 3,160,586 shares during the last quarter. Institutional investors and hedge funds own 76.43% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on AVGO shares. KeyCorp reissued an "overweight" rating and issued a $575.00 price objective (up from $500.00) on shares of Broadcom in a research note on Thursday, June 4th. Evercore reaffirmed an "outperform" rating and set a $582.00 target price on shares of Broadcom in a research report on Tuesday, May 19th. The Goldman Sachs Group reiterated a "buy" rating and set a $525.00 price target on shares of Broadcom in a report on Thursday, June 4th. Royal Bank Of Canada increased their price target on Broadcom from $360.00 to $400.00 and gave the company a "sector perform" rating in a research report on Thursday, June 4th. Finally, Rosenblatt Securities restated a "buy" rating and set a $500.00 price objective on shares of Broadcom in a research note on Thursday, June 4th. One analyst has rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat, Broadcom currently has an average rating of "Moderate Buy" and a consensus price target of $493.24.

Trending Headlines about Broadcom

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

Broadcom Price Performance

Shares of NASDAQ:AVGO opened at $389.11 on Wednesday. The company's 50-day moving average is $403.86 and its 200 day moving average is $364.80. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.01 and a current ratio of 2.24. The company has a market capitalization of $1.85 trillion, a P/E ratio of 64.85, a price-to-earnings-growth ratio of 0.67 and a beta of 1.45. Broadcom Inc. has a fifty-two week low of $273.00 and a fifty-two week high of $495.00.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted 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 net margin of 38.85% and a return on equity of 41.61%. The company had revenue of $22.19 billion during the quarter, compared to analyst estimates of $22.13 billion. During the same quarter in the prior year, the business earned $1.58 earnings per share. The firm's revenue for the quarter was up 47.9% on a year-over-year basis. On average, equities research analysts forecast that Broadcom Inc. will post 10.24 earnings per share for the current year.

Broadcom Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 22nd were given 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 of this dividend was Monday, June 22nd. Broadcom's dividend payout ratio is currently 43.33%.

Insider Activity at Broadcom

In other news, insider Mark David Brazeal sold 25,000 shares of the firm's stock in a transaction that occurred on Friday, July 10th. The shares were sold at an average price of $401.33, for a total transaction of $10,033,250.00. Following the completion of the sale, the insider owned 194,989 shares in the company, valued at $78,254,935.37. This trade represents a 11.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Justine Page sold 1,602 shares of Broadcom stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $373.86, for a total transaction of $598,923.72. Following the completion of the sale, the director directly owned 17,426 shares in the company, valued at $6,514,884.36. This trade represents a 8.42% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 61,644 shares of company stock valued at $24,016,214 over the last quarter. 1.90% of the stock is currently owned by insiders.

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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