Stenger Family Office LLC lifted its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 221.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 15,007 shares of the semiconductor manufacturer's stock after purchasing an additional 10,340 shares during the quarter. Broadcom comprises approximately 1.1% of Stenger Family Office LLC's portfolio, making the stock its 24th largest holding. Stenger Family Office LLC's holdings in Broadcom were worth $5,194,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently made changes to their positions in AVGO. Brighton Jones LLC boosted its position in shares of Broadcom by 21.8% during the 4th quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer's stock valued at $6,882,000 after acquiring an additional 5,322 shares during the last quarter. Revolve Wealth Partners LLC raised its stake in Broadcom by 10.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 7,997 shares of the semiconductor manufacturer's stock valued at $1,854,000 after purchasing an additional 756 shares in the last quarter. United Bank raised its stake in Broadcom by 76.5% in the first quarter. United Bank now owns 2,339 shares of the semiconductor manufacturer's stock valued at $392,000 after purchasing an additional 1,014 shares in the last quarter. Sivia Capital Partners LLC lifted its position in Broadcom by 10.1% during the second quarter. Sivia Capital Partners LLC now owns 12,693 shares of the semiconductor manufacturer's stock valued at $3,499,000 after purchasing an additional 1,160 shares during the last quarter. Finally, Capital & Planning LLC lifted its position in Broadcom by 10.5% during the second quarter. Capital & Planning LLC now owns 3,983 shares of the semiconductor manufacturer's stock valued at $1,098,000 after purchasing an additional 378 shares during the last quarter. Hedge funds and other institutional investors own 76.43% of the company's stock.
Analyst Ratings Changes
AVGO has been the topic of several research reports. Citigroup restated a "buy" rating on shares of Broadcom in a research report on Thursday, June 4th. TD Cowen reissued a "buy" rating and issued a $500.00 target price on shares of Broadcom in a research note on Thursday, June 4th. Erste Group Bank upgraded Broadcom from a "hold" rating to a "buy" rating in a research report on Friday, June 5th. Morgan Stanley set a $502.00 price objective on Broadcom and gave the stock an "overweight" rating in a report on Thursday, June 4th. Finally, Oppenheimer reissued an "outperform" rating and set a $535.00 price objective (up from $450.00) on shares of Broadcom in a report on Thursday, June 4th. One research analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $490.13.
Check Out Our Latest Analysis on Broadcom
Broadcom Price Performance
Shares of NASDAQ:AVGO opened at $411.35 on Friday. The company has a quick ratio of 2.01, a current ratio of 2.24 and a debt-to-equity ratio of 0.71. The stock has a market cap of $1.96 trillion, a PE ratio of 68.56, a PEG ratio of 0.72 and a beta of 1.41. The company's fifty day moving average is $411.42 and its 200 day moving average is $363.50. Broadcom Inc. has a 52 week low of $244.17 and a 52 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 (EPS) 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 business had revenue of $22.19 billion during the quarter, compared to analyst estimates of $22.13 billion. During the same period in the prior year, the business posted $1.58 earnings per share. The company's revenue was up 47.9% on a year-over-year basis. Research analysts anticipate that Broadcom Inc. will post 10.24 earnings per share for the current year.
Broadcom Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 22nd will be issued a dividend of $0.65 per share. The ex-dividend date is Monday, June 22nd. This represents a $2.60 annualized dividend and a yield of 0.6%. Broadcom's dividend payout ratio is currently 43.33%.
More Broadcom News
Here are the key news stories impacting Broadcom this week:
- Positive Sentiment: Broadcom’s debt tender offer was upsized to $3 billion after strong investor demand, signaling active balance-sheet management and reinforcing investor confidence. Broadcom Inc. Announces Results and Upsize of Offers to Purchase for Cash Certain of its Outstanding Debt Securities
- Positive Sentiment: JPMorgan remained bullish on Broadcom, saying investors should be “aggressive buyers,” which supports the view that the market may still be underestimating AVGO’s AI growth. AVGO stock jumps — JPMorgan says investors should be 'aggressive buyers' of Broadcom at current levels
- Positive Sentiment: Citi also called Broadcom a top chip stock on strong data-center demand, adding another bullish Wall Street view tied to AI infrastructure spending. Citi Touts Broadcom Inc. (AVGO) as a Top Chip Stock on Soaring Data Center Demand
- Positive Sentiment: One report said VMware, Broadcom’s second-largest business, may be set to accelerate, which could broaden growth beyond the company’s AI chip exposure. VMware: Broadcom's Second Biggest Business Set to Accelerate
- Neutral Sentiment: Insider Mark David Brazeal sold shares in two June transactions, but the sales were relatively small versus his remaining stake and do not necessarily change the broader investment thesis. Mark David Brazeal insider trading page
- Negative Sentiment: One analyst warned that chip valuations are getting stretched and suggested investors could consider alternatives, including Broadcom, which may temper enthusiasm if valuation concerns intensify. Analyst Warns Intel Valuation ‘Doesn't Make Sense.' Suggests NVIDIA, AMD, Micron, and Broadcom as Alternatives.
Insider Buying and Selling at Broadcom
In related news, insider Mark David Brazeal sold 4,825 shares of the firm's stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $394.91, for a total transaction of $1,905,440.75. Following the transaction, the insider directly owned 269,989 shares in the company, valued at $106,621,355.99. This trade represents a 1.76% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Harry L. You purchased 1,000 shares of the firm's stock in a transaction on Thursday, June 11th. The stock was bought at an average cost of $373.57 per share, for a total transaction of $373,570.00. Following the completion of the purchase, the director directly owned 38,466 shares in the company, valued at approximately $14,369,743.62. This trade represents a 2.67% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders sold 59,385 shares of company stock worth $21,301,057 over the last quarter. Company insiders own 1.90% of the company's stock.
Broadcom Company Profile
(
Free Report)
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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