Walser Wealth Management Company A Ltd Liability Co Takes Position in Broadcom Inc. $AVGO

Key Points

• Walser Wealth Management opened a new position in Broadcom, buying 1,974 shares valued at about $683,000 in the fourth quarter.
• Broadcom continues to draw heavy institutional interest, with 76.43% of the stock owned by hedge funds and other institutional investors.
• Analysts remain broadly bullish on AVGO, with a consensus Moderate Buy rating and an average price target of $490.13; several firms recently raised targets as high as $535.

Walser Wealth Management Company A Ltd Liability Co acquired a new stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 1,974 shares of the semiconductor manufacturer's stock, valued at approximately $683,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Brighton Jones LLC boosted its position in shares of Broadcom by 21.8% in the fourth quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer's stock worth $6,882,000 after purchasing an additional 5,322 shares during the period. Revolve Wealth Partners LLC raised its position in shares of Broadcom by 10.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 7,997 shares of the semiconductor manufacturer's stock valued at $1,854,000 after purchasing an additional 756 shares during the period. United Bank raised its position in shares of Broadcom by 76.5% during the 1st quarter. United Bank now owns 2,339 shares of the semiconductor manufacturer's stock valued at $392,000 after purchasing an additional 1,014 shares during the period. Sivia Capital Partners LLC lifted its stake in shares of Broadcom by 10.1% during the 2nd quarter. Sivia Capital Partners LLC now owns 12,693 shares of the semiconductor manufacturer's stock valued at $3,499,000 after buying an additional 1,160 shares in the last quarter. Finally, Capital & Planning LLC lifted its stake in shares of Broadcom by 10.5% during the 2nd quarter. Capital & Planning LLC now owns 3,983 shares of the semiconductor manufacturer's stock valued at $1,098,000 after buying an additional 378 shares in the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $525.00 target price on shares of Broadcom in a report on Thursday, June 4th. UBS Group set a $485.00 price target on Broadcom and gave the company a "buy" rating in a report on Thursday, June 4th. Deutsche Bank Aktiengesellschaft restated a "buy" rating and issued a $515.00 price objective (up from $430.00) on shares of Broadcom in a research report on Thursday, June 4th. Rosenblatt Securities reaffirmed a "buy" rating and issued a $500.00 price objective on shares of Broadcom in a research note on Thursday, June 4th. Finally, Oppenheimer reiterated an "outperform" rating and set a $535.00 target price (up from $450.00) on shares of Broadcom in a research report on Thursday, June 4th. One investment 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. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $490.13.

Trending Headlines about 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 Stock Performance

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 stock has a market capitalization of $1.96 trillion, a price-to-earnings ratio of 68.56, a PEG ratio of 0.72 and a beta of 1.41. The company has a fifty day moving average of $411.42 and a 200 day moving average of $363.50. Broadcom Inc. has a fifty-two week low of $244.17 and a fifty-two week high of $495.00.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its quarterly earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 EPS for the quarter, topping 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 analysts' expectations of $22.13 billion. During the same quarter in the previous year, the company earned $1.58 EPS. The business's quarterly revenue was up 47.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Broadcom Inc. will post 10.24 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

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

Insider Activity at Broadcom

In other Broadcom news, insider Mark David Brazeal sold 4,825 shares of the firm'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 transaction of $1,905,440.75. Following the completion of the transaction, the insider owned 269,989 shares in the company, valued at $106,621,355.99. This trade represents a 1.76% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Harry L. You purchased 1,000 shares of the business's stock in a transaction on Thursday, June 11th. The shares were purchased at an average price of $373.57 per share, with a total value of $373,570.00. Following the acquisition, the director directly owned 38,466 shares in the company, valued at $14,369,743.62. This represents a 2.67% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders sold 59,385 shares of company stock valued at $21,301,057 in the last 90 days. 1.90% of the stock is currently owned by insiders.

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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