Smith Chas P & Associates PA Cpas Has $1.23 Million Holdings in Broadcom Inc. $AVGO

Key Points

• Smith Chas P & Associates PA Cpas increased its Broadcom stake by 62.2% in the fourth quarter, ending with 3,546 shares worth about $1.23 million.
• Broadcom continues to draw strong institutional interest, with several other hedge funds adding shares and 76.43% of the stock now held by institutional investors and hedge funds.
• Wall Street remains broadly bullish on AVGO: recent analysts’ moves included higher price targets, and the stock’s average rating is Moderate Buy with an average target price of $455.07.

Smith Chas P & Associates PA Cpas lifted its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 62.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,546 shares of the semiconductor manufacturer's stock after acquiring an additional 1,360 shares during the period. Smith Chas P & Associates PA Cpas' holdings in Broadcom were worth $1,227,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Severin Investments LLC increased its stake in Broadcom by 21.7% during the 4th quarter. Severin Investments LLC now owns 5,469 shares of the semiconductor manufacturer's stock worth $1,893,000 after purchasing an additional 975 shares in the last quarter. Leeward Financial Partners LLC increased its stake in Broadcom by 9.9% during the 4th quarter. Leeward Financial Partners LLC now owns 14,081 shares of the semiconductor manufacturer's stock worth $4,873,000 after purchasing an additional 1,271 shares in the last quarter. PSI Advisors LLC increased its stake in Broadcom by 8.9% during the 4th quarter. PSI Advisors LLC now owns 755 shares of the semiconductor manufacturer's stock worth $261,000 after purchasing an additional 62 shares in the last quarter. Texas Capital Bank Wealth Management Services Inc increased its stake in Broadcom by 16.0% during the 4th quarter. Texas Capital Bank Wealth Management Services Inc now owns 15,556 shares of the semiconductor manufacturer's stock worth $5,384,000 after purchasing an additional 2,143 shares in the last quarter. Finally, Waystone Advisors LLC bought a new stake in Broadcom during the 4th quarter worth approximately $923,000. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AVGO has been the subject of several research reports. Weiss Ratings raised shares of Broadcom from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday, May 27th. Wells Fargo & Company reaffirmed an "overweight" rating and set a $545.00 price target (up from $430.00) on shares of Broadcom in a research note on Thursday, May 14th. Zacks Research cut shares of Broadcom from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 21st. JPMorgan Chase & Co. raised their price target on shares of Broadcom from $475.00 to $500.00 and gave the stock an "overweight" rating in a research note on Thursday, March 5th. Finally, Morgan Stanley raised their price target on shares of Broadcom from $470.00 to $485.00 and gave the stock an "overweight" rating in a research note on Monday. One research analyst has rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $455.07.

Broadcom Stock Up 3.0%

Shares of NASDAQ AVGO opened at $459.97 on Tuesday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.73 and a current ratio of 1.90. Broadcom Inc. has a 52 week low of $241.11 and a 52 week high of $466.05. The stock has a market capitalization of $2.18 trillion, a P/E ratio of 89.84, a PEG ratio of 0.92 and a beta of 1.41. The stock's fifty day moving average is $386.31 and its 200 day moving average is $359.32.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its quarterly earnings results on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 EPS for the quarter, topping analysts' consensus estimates of $2.03 by $0.02. Broadcom had a return on equity of 38.61% and a net margin of 36.57%.The company had revenue of $19.31 billion for the quarter, compared to analysts' expectations of $19.10 billion. During the same quarter last year, the business earned $1.60 earnings per share. Broadcom's revenue was up 29.5% on a year-over-year basis. Sell-side analysts forecast that Broadcom Inc. will post 9.91 earnings per share for the current fiscal year.

Key Broadcom News

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom unveiled new broadband and Wi‑Fi 8 connectivity innovations with an embedded NPU, reinforcing its AI-at-the-edge growth story and expanding its product pipeline. Article link
• Positive Sentiment: Morgan Stanley raised its price target on Broadcom to $485 and kept an overweight rating, signaling continued analyst confidence ahead of earnings.
• Positive Sentiment: Broadcom is attracting bullish investor attention as traders bet on strong AI-chip demand and a potential breakout after earnings, with several articles calling it a top stock to watch. Article link
• Positive Sentiment: Broadcom is being highlighted by market commentators and bullish research as an AI leader and a long-term growth stock, which is helping sentiment into the earnings print.
• Neutral Sentiment: Some coverage notes that expectations are very high, with the stock trading at a premium valuation, so the upcoming earnings report will need to be strong to justify the move. Article link
• Neutral Sentiment: Traders are expecting a large post-earnings swing, which reflects uncertainty as much as optimism.
• Negative Sentiment: Bearish commentary from one market watcher suggests some investors are hedging ahead of the report, reflecting concern that the stock’s elevated valuation leaves little room for disappointment. Article link

Insiders Place Their Bets

In other Broadcom news, insider Mark David Brazeal sold 50,488 shares of Broadcom stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $321.60, for a total value of $16,236,940.80. Following the transaction, the insider owned 278,141 shares in the company, valued at $89,450,145.60. The trade was a 15.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Kirsten M. Spears sold 36,292 shares of Broadcom stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $321.60, for a total value of $11,671,507.20. Following the completion of the transaction, the chief financial officer owned 327,760 shares in the company, valued at approximately $105,407,616. This represents a 9.97% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 324,282 shares of company stock worth $106,425,249. Insiders own 1.90% of the company's stock.

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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