Stone Wealth Partners Purchases Shares of 2,252 Broadcom Inc. $AVGO

Key Points

• Stone Wealth Partners bought a new stake in Broadcom during the fourth quarter, purchasing 2,252 shares valued at about $779,000.
• Broadcom continues to attract institutional interest, with multiple other investors also adding shares; overall, about 76.43% of the stock is now owned by hedge funds and other institutions.
• The company has been backed by several bullish developments, including an upsized $3 billion debt tender offer, strong earnings that beat estimates, and a quarterly dividend of $0.65 per share.

Stone Wealth Partners acquired a new stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,252 shares of the semiconductor manufacturer's stock, valued at approximately $779,000.

Other institutional investors have also recently modified their holdings of the company. ROSS JOHNSON & Associates LLC increased its holdings in Broadcom by 1,320.0% in the 4th quarter. ROSS JOHNSON & Associates LLC now owns 71 shares of the semiconductor manufacturer's stock worth $25,000 after buying an additional 66 shares during the period. SWAN Capital LLC lifted its stake in Broadcom by 261.9% during the 4th quarter. SWAN Capital LLC now owns 76 shares of the semiconductor manufacturer's stock valued at $26,000 after acquiring an additional 55 shares during the period. Miller Global Investments LLC purchased a new stake in shares of Broadcom in the 4th quarter valued at $31,000. Nvest Wealth Strategies Inc. acquired a new stake in shares of Broadcom in the fourth quarter worth $33,000. Finally, Family CFO Inc acquired a new stake in shares of Broadcom in the fourth quarter worth $35,000. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Broadcom News Summary

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.

Broadcom Price Performance

Shares of NASDAQ AVGO opened at $411.35 on Friday. 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 firm has a fifty day moving average of $411.42 and a 200 day moving average of $363.50. The firm 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. Broadcom Inc. has a one year low of $244.17 and a one year high of $495.00.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $22.13 billion. During the same period last year, the firm posted $1.58 earnings per share. The company's revenue was up 47.9% compared to the same quarter last year. As a group, research analysts predict that Broadcom Inc. will post 10.24 EPS for the current fiscal year.

Broadcom Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 22nd will be paid a $0.65 dividend. The ex-dividend date of this dividend is Monday, June 22nd. This represents a $2.60 dividend on an annualized basis and a yield of 0.6%. Broadcom's dividend payout ratio (DPR) is currently 43.33%.

Analyst Upgrades and Downgrades

AVGO has been the subject of a number of research reports. Erste Group Bank upgraded shares of Broadcom from a "hold" rating to a "buy" rating in a research report on Friday, June 5th. 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 report on Thursday, May 14th. Benchmark lifted their price objective on Broadcom from $485.00 to $545.00 and gave the company a "buy" rating in a research note on Thursday, June 4th. KeyCorp reissued an "overweight" rating and issued a $575.00 price objective (up from $500.00) on shares of Broadcom in a report on Thursday, June 4th. Finally, UBS Group set a $485.00 target price on Broadcom and gave the stock a "buy" rating in a research note on Thursday, June 4th. One equities 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's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $490.13.

Insider Buying and Selling

In other news, Director Harry L. You acquired 1,000 shares of the business'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 purchase, the director owned 38,466 shares in the company, valued at approximately $14,369,743.62. This represents a 2.67% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Mark David Brazeal sold 4,825 shares of the business'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 value of $1,905,440.75. Following the sale, the insider owned 269,989 shares of the company's stock, valued at approximately $106,621,355.99. This trade represents a 1.76% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 59,385 shares of company stock worth $21,301,057 in the last quarter. 1.90% of the stock is owned by insiders.

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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