Total Wealth Planning & Management Inc. Takes $1.61 Million Position in Broadcom Inc. $AVGO

Key Points

• Total Wealth Planning & Management Inc. initiated a new position in Broadcom during the fourth quarter, buying 4,638 shares valued at about $1.61 million. The stake represents roughly 1.2% of its portfolio and is its 15th-largest holding.
• Broadcom reported better-than-expected quarterly results, with EPS of $2.44 versus $2.40 expected and revenue of $22.19 billion versus $22.13 billion forecast. Revenue rose 47.9% year over year, reinforcing momentum in the company’s AI and growth story.
• Analysts remain constructive on AVGO, with several firms raising or reiterating bullish price targets, including Bank of America lifting its target to $530. Broadcom also announced a quarterly dividend of $0.65 per share, payable June 30.

Total Wealth Planning & Management Inc. bought a new position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 4,638 shares of the semiconductor manufacturer's stock, valued at approximately $1,605,000. Broadcom accounts for about 1.2% of Total Wealth Planning & Management Inc.'s portfolio, making the stock its 15th largest position.

A number of other hedge funds and other institutional investors have also bought and sold shares of AVGO. Brighton Jones LLC increased its holdings in Broadcom by 21.8% during the 4th quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer's stock worth $6,882,000 after acquiring an additional 5,322 shares during the period. Revolve Wealth Partners LLC increased its holdings in Broadcom by 10.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 7,997 shares of the semiconductor manufacturer's stock worth $1,854,000 after acquiring an additional 756 shares during the period. United Bank increased its holdings in Broadcom by 76.5% during the 1st quarter. United Bank now owns 2,339 shares of the semiconductor manufacturer's stock worth $392,000 after acquiring an additional 1,014 shares during the period. Sivia Capital Partners LLC increased its holdings in Broadcom by 10.1% during the 2nd quarter. Sivia Capital Partners LLC now owns 12,693 shares of the semiconductor manufacturer's stock worth $3,499,000 after acquiring an additional 1,160 shares during the period. Finally, Capital & Planning LLC increased its holdings in Broadcom by 10.5% during the 2nd quarter. Capital & Planning LLC now owns 3,983 shares of the semiconductor manufacturer's stock worth $1,098,000 after acquiring an additional 378 shares during the period. Institutional investors own 76.43% of the company's stock.

Key Broadcom News

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom announced expanded security investments for the Spring and Java ecosystem, aiming to help enterprise customers defend against AI-enabled threats and reinforcing its software strategy. Broadcom Expands Its Investment in Spring and Java Ecosystem Security to Prepare Customers for AI-Enabled Threats
• Positive Sentiment: Several analysts and market commentators said the recent post-earnings decline may be exaggerated, arguing that Broadcom’s strong revenue growth and AI momentum still support the long-term story. Jim Cramer on Broadcom: “The Disappointing Earnings May Not Be as Crushing as We Think”
• Positive Sentiment: Wall Street sentiment remains constructive, with Bank of America raising its price target on Broadcom to $530 from $450 while keeping a Buy rating after the latest quarterly results and guidance. Is Broadcom (AVGO) the Best Stock in Chase Coleman’s Tiger Global?

Broadcom Price Performance

Shares of Broadcom stock opened at $396.60 on Tuesday. Broadcom Inc. has a 52-week low of $241.11 and a 52-week high of $495.00. The stock has a market capitalization of $1.88 trillion, a price-to-earnings ratio of 66.10, a price-to-earnings-growth ratio of 0.70 and a beta of 1.41. The company has a fifty day moving average of $397.96 and a 200-day moving average of $362.43. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.01 and a current ratio of 2.24.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its quarterly earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share for the quarter, beating the consensus estimate of $2.40 by $0.04. The business had revenue of $22.19 billion during the quarter, compared to analysts' expectations of $22.13 billion. Broadcom had a net margin of 38.85% and a return on equity of 41.61%. The firm's revenue for the quarter was up 47.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.58 EPS. Equities research analysts expect that Broadcom Inc. will post 9.97 EPS for the current year.

Broadcom Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 22nd will be issued a $0.65 dividend. The ex-dividend date is Monday, June 22nd. This represents a $2.60 annualized dividend and a yield of 0.7%. Broadcom's dividend payout ratio is 43.33%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Morgan Stanley set a $502.00 price target on shares of Broadcom and gave the stock an "overweight" rating in a report on Thursday. UBS Group set a $485.00 price target on shares of Broadcom and gave the stock a "buy" rating in a report on Thursday. Evercore reissued an "outperform" rating and issued a $582.00 price target on shares of Broadcom in a report on Tuesday, May 19th. Wells Fargo & Company reissued an "overweight" rating and issued a $545.00 price target (up from $430.00) on shares of Broadcom in a report on Thursday, May 14th. Finally, Oppenheimer reissued an "outperform" rating and issued a $535.00 price target (up from $450.00) on shares of Broadcom in a report on Thursday. One research analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $490.13.

Insider Activity at Broadcom

In related news, insider Charlie B. Kawwas sold 39,116 shares of the stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $321.61, for a total value of $12,580,096.76. Following the completion of the transaction, the insider directly owned 74,626 shares in the company, valued at $24,000,467.86. This trade represents a 34.39% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Mark David Brazeal sold 50,488 shares of the stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $321.60, for a total transaction of $16,236,940.80. Following the completion of the transaction, the insider owned 278,141 shares of the company's stock, valued at approximately $89,450,145.60. The trade was a 15.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 324,282 shares of company stock valued at $106,425,249 over the last quarter. Company insiders own 1.90% of the company's stock.

About Broadcom

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.