Strategic Advisory Partners LLC Makes New $848,000 Investment in Broadcom Inc. $AVGO

Key Points

• Strategic Advisory Partners LLC opened a new position in Broadcom during the fourth quarter, buying 2,450 shares valued at about $848,000. The stake represents roughly 0.7% of its holdings and Broadcom is now its 14th largest holding.
• Broadcom reported strong quarterly results, with EPS of $2.44 beating estimates and revenue of $22.19 billion, up 47.9% year over year. Analysts currently expect the company to earn 10.24 EPS for the fiscal year.
• Sentiment around the stock remains mostly bullish: several brokers raised price targets, and the latest consensus rating is Moderate Buy with a target of $490.13. The company also announced a quarterly dividend of $0.65 per share, payable June 30.

Strategic Advisory Partners LLC acquired a new stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 2,450 shares of the semiconductor manufacturer's stock, valued at approximately $848,000. Broadcom accounts for approximately 0.7% of Strategic Advisory Partners LLC's holdings, making the stock its 14th largest holding.

Other hedge funds also recently made changes to their positions in the company. Brown Brothers Harriman & Co. increased its holdings in shares of Broadcom by 10.7% during the third quarter. Brown Brothers Harriman & Co. now owns 77,411 shares of the semiconductor manufacturer's stock worth $25,539,000 after purchasing an additional 7,499 shares during the period. Dana Investment Advisors Inc. boosted its stake in shares of Broadcom by 2.6% in the third quarter. Dana Investment Advisors Inc. now owns 173,759 shares of the semiconductor manufacturer's stock valued at $57,325,000 after buying an additional 4,442 shares during the period. Sovran Advisors LLC boosted its stake in shares of Broadcom by 121.3% in the fourth quarter. Sovran Advisors LLC now owns 30,631 shares of the semiconductor manufacturer's stock valued at $10,507,000 after buying an additional 16,789 shares during the period. Thurston Springer Miller Herd & Titak Inc. grew its position in Broadcom by 406.1% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 11,994 shares of the semiconductor manufacturer's stock worth $4,151,000 after buying an additional 9,624 shares in the last quarter. Finally, Siligmueller & Norvid Wealth Advisors LLC acquired a new stake in Broadcom during the third quarter worth approximately $762,000. 76.43% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Broadcom

In other news, insider S. Ram Velaga sold 17,260 shares of the stock in a transaction dated Thursday, April 9th. The shares were sold at an average price of $352.12, for a total value of $6,077,591.20. Following the completion of the transaction, the insider owned 65,932 shares of the company's stock, valued at approximately $23,215,975.84. This represents a 20.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Harry L. You purchased 1,000 shares of Broadcom stock in a transaction dated Thursday, June 11th. The stock was bought at an average price of $373.57 per share, for a total transaction of $373,570.00. Following the completion of the purchase, the director owned 38,466 shares in the company, valued at $14,369,743.62. This represents a 2.67% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders have sold 59,385 shares of company stock valued at $21,301,057. Company insiders own 1.90% of the company's stock.

Broadcom Price Performance

NASDAQ AVGO opened at $411.35 on Friday. The business has a fifty day moving average price of $411.42 and a two-hundred day moving average price of $363.50. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.24 and a quick ratio of 2.01. Broadcom Inc. has a fifty-two week low of $244.17 and a fifty-two week high of $495.00. The stock has a market capitalization of $1.96 trillion, a PE ratio of 68.56, a PEG ratio of 0.72 and a beta of 1.41.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued 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 return on equity of 41.61% and a net margin of 38.85%.The company had revenue of $22.19 billion for the quarter, compared to analyst estimates of $22.13 billion. During the same quarter last year, the company posted $1.58 EPS. The company's revenue for the quarter was up 47.9% compared to the same quarter last year. Equities analysts expect that Broadcom Inc. will post 10.24 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The firm also recently disclosed 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 annualized dividend and a yield of 0.6%. Broadcom's dividend payout ratio (DPR) is 43.33%.

Analyst Ratings Changes

Several brokerages have weighed in on AVGO. Bank of America lifted their price objective on Broadcom from $450.00 to $530.00 and gave the company a "buy" rating in a report on Thursday, June 4th. Cantor Fitzgerald reissued an "overweight" rating and set a $525.00 target price on shares of Broadcom in a report on Thursday, June 4th. Deutsche Bank Aktiengesellschaft restated a "buy" rating and issued a $515.00 price target (up from $430.00) on shares of Broadcom in a research report on Thursday, June 4th. Zacks Research downgraded Broadcom from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 21st. Finally, Erste Group Bank raised shares of Broadcom from a "hold" rating to a "buy" rating in a research report on Friday, June 5th. One investment analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $490.13.

Key Headlines Impacting Broadcom

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 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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