Van Diest Capital LLC Takes $541,000 Position in Broadcom Inc. $AVGO

Key Points

• Van Diest Capital LLC disclosed a new fourth-quarter stake in Broadcom, buying 1,563 shares worth about $541,000. The position is a small slice of the portfolio, making Broadcom its 29th largest holding.
• Broadcom continues to draw strong institutional and analyst support, with several firms raising or reaffirming bullish price targets. The consensus rating remains Moderate Buy, with a consensus target price of about $490.13.
• The company has benefited from positive catalysts tied to AI and data-center demand, along with strong quarterly results. Broadcom recently beat earnings expectations, posted 47.9% year-over-year revenue growth, and also announced a quarterly dividend of $0.65 per share.

Van Diest Capital LLC purchased a new stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 1,563 shares of the semiconductor manufacturer's stock, valued at approximately $541,000. Broadcom makes up 0.8% of Van Diest Capital LLC's investment portfolio, making the stock its 29th largest holding.

Several other institutional investors have also recently bought and sold shares of AVGO. Brown Brothers Harriman & Co. lifted its position in Broadcom by 10.7% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 77,411 shares of the semiconductor manufacturer's stock valued at $25,539,000 after purchasing an additional 7,499 shares during the period. Dana Investment Advisors Inc. grew its position in shares of Broadcom by 2.6% during the 3rd quarter. Dana Investment Advisors Inc. now owns 173,759 shares of the semiconductor manufacturer's stock worth $57,325,000 after buying an additional 4,442 shares during the period. Sovran Advisors LLC raised its stake in shares of Broadcom by 121.3% during the fourth quarter. Sovran Advisors LLC now owns 30,631 shares of the semiconductor manufacturer's stock worth $10,507,000 after buying an additional 16,789 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its stake in shares of 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 during the last quarter. Finally, Siligmueller & Norvid Wealth Advisors LLC acquired a new position in Broadcom in the third quarter valued at approximately $762,000. Institutional investors own 76.43% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Evercore reaffirmed an "outperform" rating and issued a $582.00 price objective on shares of Broadcom in a research note on Tuesday, May 19th. TD Cowen reissued a "buy" rating and issued a $500.00 price target on shares of Broadcom in a research note on Thursday, June 4th. Seaport Research Partners restated a "neutral" rating on shares of Broadcom in a research report on Wednesday, April 8th. 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. Finally, Weiss Ratings upgraded Broadcom from a "buy (b-)" rating to a "buy (b)" rating in a report on Tuesday, June 9th. One research analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $490.13.

Key Stories Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom expanded its cash tender offers for outstanding debt to $3 billion from $2.5 billion after strong investor demand, which can be viewed as a sign of balance-sheet management and helped lift sentiment toward the stock. Broadcom Inc. Announces Results and Upsize of Offers to Purchase for Cash Certain of its Outstanding Debt Securities
• Positive Sentiment: JPMorgan reiterated a bullish view, saying investors should be “aggressive buyers” and arguing the market is underestimating Broadcom’s long-term AI opportunity, reinforcing the rally in AVGO. AVGO stock jumps — JPMorgan says investors should be 'aggressive buyers' of Broadcom at current levels
• Positive Sentiment: Citi also highlighted Broadcom as a top chip stock on soaring data-center demand, adding to optimism around AI-driven revenue growth. Citi Touts Broadcom Inc. (AVGO) as a Top Chip Stock on Soaring Data Center Demand
• Neutral Sentiment: Insider Mark David Brazeal sold shares in two June transactions totaling more than 8,100 shares. The sales are notable, but they represent relatively small reductions in a large personal holding and do not necessarily signal a change in the company’s outlook. Mark David Brazeal insider trading page

Insider Transactions at Broadcom

In other Broadcom news, insider S. Ram Velaga sold 17,260 shares of the stock in a transaction dated Thursday, April 9th. The stock was sold at an average price of $352.12, for a total value of $6,077,591.20. Following the completion of the sale, the insider directly owned 65,932 shares in the company, valued at $23,215,975.84. This represents a 20.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Charlie B. Kawwas sold 10,000 shares of the firm's stock in a transaction dated Wednesday, April 8th. The stock was sold at an average price of $345.23, for a total value of $3,452,300.00. Following the sale, the insider directly owned 787,184 shares in the company, valued at approximately $271,759,532.32. This represents a 1.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 59,385 shares of company stock valued at $21,301,057. Insiders own 1.90% of the company's stock.

Broadcom Trading Up 4.7%

AVGO opened at $411.35 on Friday. The firm's fifty day moving average is $410.21 and its two-hundred day moving average is $363.17. The firm has a market cap of $1.96 trillion, a PE ratio of 68.56, a price-to-earnings-growth ratio of 0.69 and a beta of 1.41. Broadcom Inc. has a twelve month low of $244.17 and a twelve month high of $495.00. 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 (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 company had revenue of $22.19 billion during the quarter, compared to analyst estimates of $22.13 billion. During the same quarter in the previous year, the business earned $1.58 EPS. The firm's revenue was up 47.9% on a year-over-year basis. Equities research analysts anticipate that Broadcom Inc. will post 10.24 EPS for the current year.

Broadcom Dividend Announcement

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

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.

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