Strengthening Families & Communities LLC Has $8.57 Million Stock Position in Broadcom Inc. $AVGO

Key Points

• Strengthening Families & Communities LLC increased its Broadcom stake by 14.5% in the fourth quarter, buying 3,140 additional shares and bringing its total holding to 24,761 shares worth about $8.57 million.
• Broadcom insiders have been selling shares, including director Gayla J. Delly and insider S. Ram Velaga; over the last 90 days, insiders sold 324,282 shares valued at about $106.4 million.
• The company reported better-than-expected quarterly results, with EPS of $2.05 and revenue of $19.31 billion, while analysts remain broadly bullish and the stock has also recently paid a quarterly dividend of $0.65 per share.

Strengthening Families & Communities LLC lifted its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 14.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,761 shares of the semiconductor manufacturer's stock after purchasing an additional 3,140 shares during the period. Broadcom accounts for approximately 3.1% of Strengthening Families & Communities LLC's holdings, making the stock its 10th largest position. Strengthening Families & Communities LLC's holdings in Broadcom were worth $8,570,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Baring Financial LLC raised its stake in shares of Broadcom by 2.2% in the fourth quarter. Baring Financial LLC now owns 1,359 shares of the semiconductor manufacturer's stock worth $470,000 after buying an additional 29 shares during the period. Five Oceans Advisors increased its holdings in Broadcom by 0.4% in the 4th quarter. Five Oceans Advisors now owns 8,191 shares of the semiconductor manufacturer's stock worth $2,835,000 after acquiring an additional 29 shares in the last quarter. Jackson Hole Capital Partners LLC increased its holdings in Broadcom by 1.4% in the 3rd quarter. Jackson Hole Capital Partners LLC now owns 2,170 shares of the semiconductor manufacturer's stock worth $716,000 after acquiring an additional 30 shares in the last quarter. Private Wealth Partners LLC raised its stake in Broadcom by 0.7% during the 3rd quarter. Private Wealth Partners LLC now owns 4,273 shares of the semiconductor manufacturer's stock worth $1,410,000 after acquiring an additional 30 shares during the period. Finally, Planning Alternatives Ltd. ADV lifted its holdings in Broadcom by 1.4% during the third quarter. Planning Alternatives Ltd. ADV now owns 2,168 shares of the semiconductor manufacturer's stock valued at $715,000 after purchasing an additional 30 shares in the last quarter. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Broadcom

In other Broadcom news, Director Gayla J. Delly sold 1,000 shares of the firm's stock in a transaction that occurred on Thursday, April 9th. The stock was sold at an average price of $358.31, for a total transaction of $358,310.00. Following the completion of the transaction, the director owned 32,352 shares in the company, valued at $11,592,045.12. This trade represents a 3.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider S. Ram Velaga sold 8,000 shares of the stock in a transaction that occurred on Friday, April 10th. The shares were sold at an average price of $370.52, for a total value of $2,964,160.00. Following the transaction, the insider owned 57,932 shares of the company's stock, valued at $21,464,964.64. This represents a 12.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 324,282 shares of company stock valued at $106,425,249. 1.90% of the stock is owned by insiders.

Broadcom Price Performance

Shares of NASDAQ:AVGO opened at $439.79 on Friday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.73 and a current ratio of 1.90. The firm has a fifty day moving average price of $363.46 and a 200 day moving average price of $354.12. Broadcom Inc. has a fifty-two week low of $221.60 and a fifty-two week high of $442.36. The firm has a market cap of $2.08 trillion, a price-to-earnings ratio of 85.90, a P/E/G ratio of 0.86 and a beta of 1.43.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its quarterly earnings results on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.03 by $0.02. The company had revenue of $19.31 billion for the quarter, compared to the consensus estimate of $19.10 billion. Broadcom had a net margin of 36.57% and a return on equity of 38.61%. Broadcom's revenue for the quarter was up 29.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.60 EPS. As a group, sell-side analysts expect that Broadcom Inc. will post 9.95 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Monday, March 23rd were issued a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend was Monday, March 23rd. Broadcom's payout ratio is 50.78%.

Trending Headlines about Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Wells Fargo and other analysts turned more bullish on Broadcom’s AI chip and data-center networking business, saying Wall Street may be underestimating demand from hyperscaler buildouts. Article Title
• Positive Sentiment: Broadcom is being framed as one of the main winners of the AI capital-spending cycle, with multiple articles highlighting accelerating custom AI silicon revenue and expectations for continued earnings growth into the next report. Article Title
• Positive Sentiment: Investor sentiment was also helped by major institutions and high-profile investors continuing to add to Broadcom positions, reinforcing the view that the AI thesis remains intact. Article Title
• Neutral Sentiment: Broadcom’s valuation remains elevated after its sharp run, so the stock may be sensitive to any sign that AI growth slows or expectations become too optimistic.
• Negative Sentiment: The company is also facing an EU antitrust lawsuit over VMware-related document requests, which adds a legal overhang even though it is not the main driver of today’s move. Article Title

Wall Street Analysts Forecast Growth

AVGO has been the subject of a number of recent analyst reports. Zacks Research upgraded shares of Broadcom from a "hold" rating to a "strong-buy" rating in a research report on Thursday, April 2nd. Morgan Stanley lifted their target price on shares of Broadcom from $462.00 to $470.00 and gave the company an "overweight" rating in a research note on Friday, March 6th. Rosenblatt Securities reaffirmed a "buy" rating and issued a $500.00 target price on shares of Broadcom in a report on Tuesday, April 7th. Bank of America decreased their price target on Broadcom from $500.00 to $450.00 and set a "buy" rating on the stock in a report on Thursday, March 5th. Finally, Wolfe Research upgraded Broadcom from a "peer perform" rating to an "outperform" rating and set a $400.00 price objective on the stock in a research report on Friday, January 30th. Two analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $439.97.

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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