Wealthspire Advisors LLC grew its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 52.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 62,372 shares of the semiconductor manufacturer's stock after purchasing an additional 21,418 shares during the period. Wealthspire Advisors LLC's holdings in Broadcom were worth $21,587,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also modified their holdings of the business. Brown Brothers Harriman & Co. grew its holdings in Broadcom by 10.7% during the third 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 holdings in Broadcom by 2.6% during the third quarter. Dana Investment Advisors Inc. now owns 173,759 shares of the semiconductor manufacturer's stock valued at $57,325,000 after purchasing an additional 4,442 shares during the period. Sovran Advisors LLC grew its holdings in Broadcom by 121.3% during the fourth quarter. Sovran Advisors LLC now owns 30,631 shares of the semiconductor manufacturer's stock valued at $10,507,000 after purchasing an additional 16,789 shares during the period. Thurston Springer Miller Herd & Titak Inc. grew its holdings 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 valued at $4,151,000 after purchasing an additional 9,624 shares during the period. Finally, Siligmueller & Norvid Wealth Advisors LLC bought a new stake in Broadcom during the third quarter valued at about $762,000. Institutional investors own 76.43% of the company's stock.
Broadcom Price Performance
Shares of Broadcom stock opened at $382.07 on Friday. The stock's 50-day simple moving average is $404.26 and its 200-day simple moving average is $363.33. Broadcom Inc. has a 52 week low of $244.17 and a 52 week high of $495.00. The company has a market capitalization of $1.82 trillion, a price-to-earnings ratio of 63.68, a PEG ratio of 0.68 and a beta of 1.41. The company has a quick ratio of 2.01, a current ratio of 2.24 and a debt-to-equity ratio of 0.71.
Broadcom (NASDAQ:AVGO - Get Free Report) last announced its quarterly earnings data on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 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 business had revenue of $22.19 billion for the quarter, compared to the consensus estimate of $22.13 billion. During the same period in the previous year, the business earned $1.58 earnings per share. The business's revenue was up 47.9% on a year-over-year basis. As a group, 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. Stockholders of record on Monday, June 22nd will be given a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Monday, June 22nd. Broadcom's payout ratio is presently 43.33%.
Wall Street Analyst Weigh In
AVGO has been the subject of several recent research reports. Oppenheimer reissued an "outperform" rating and set a $535.00 price target (up from $450.00) on shares of Broadcom in a report on Thursday, June 4th. Rosenblatt Securities reissued a "buy" rating and set a $500.00 price target on shares of Broadcom in a report on Thursday, June 4th. Cantor Fitzgerald reissued an "overweight" rating and set a $525.00 price target on shares of Broadcom in a report on Thursday, June 4th. Seaport Research Partners reissued a "neutral" rating on shares of Broadcom in a report on Wednesday, April 8th. Finally, Zacks Research lowered Broadcom from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 21st. One research analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, Broadcom has a consensus rating of "Moderate Buy" and an average price target of $490.13.
Check Out Our Latest Analysis on AVGO
Insiders Place Their Bets
In other news, CFO Kirsten M. Spears sold 36,292 shares of the business's stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $321.60, for a total value of $11,671,507.20. Following the transaction, the chief financial officer directly owned 327,760 shares in the company, valued at $105,407,616. The trade was a 9.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider S. Ram Velaga sold 38,841 shares of the business's stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $321.60, for a total value of $12,491,265.60. Following the completion of the transaction, the insider owned 96,147 shares in the company, valued at $30,920,875.20. The trade was a 28.77% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 324,282 shares of company stock valued at $106,425,249 over the last three months. Insiders own 1.90% of the company's stock.
More Broadcom News
Here are the key news stories impacting Broadcom this week:
- Positive Sentiment: Broadcom’s quarterly results were very strong, with revenue up 48% to a record $22.2 billion, semiconductor revenue up 79%, AI semiconductor revenue up 143% to $10.8 billion, and more than $30 billion in AI bookings, suggesting demand remains robust. Article Title
- Positive Sentiment: Several analysts and commentators argue the recent drop could be a buying opportunity, saying Broadcom remains a core infrastructure winner in AI and that Wall Street’s long-term outlook is still constructive. Article Title
- Positive Sentiment: Fresh coverage highlighted Broadcom as one of the stocks with catalysts heading into the second half of the year, and some analysts have raised earnings forecasts and price targets despite the selloff. Article Title
- Neutral Sentiment: Jim Cramer said Broadcom’s earnings were “not good” and suggested tech stocks are harder to trust as leadership names, reflecting a more cautious market mood around the stock. Article Title
- Neutral Sentiment: Broadcom also announced cash tender offers for certain outstanding debt securities, a routine balance-sheet move that is unlikely to move the stock by itself. Article Title
- Negative Sentiment: Market commentary says the stock is being punished because investors are nitpicking Broadcom’s AI outlook and pricing the shares as if growth must keep accelerating without any hiccups. Article Title
- Negative Sentiment: One note warned that Broadcom told investors to expect gross profit margins to continue falling, reinforcing concerns that profitability may soften even as revenue grows. Article Title
About Broadcom
(
Free Report)
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.
Read More
Want to see what other hedge funds are holding AVGO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Broadcom Inc. (NASDAQ:AVGO - Free Report).
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.
Before you consider Broadcom, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Broadcom wasn't on the list.
While Broadcom currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Robotics and automation are rapidly becoming essential infrastructure across healthcare, manufacturing, logistics, and many other industries.
"Physical AI" is coming to the United States, and there are four ways that investors can gain exposure to this new robotics revolution. Plus, learn which seven companies are most positioned to benefit as intelligent robots enter the workforce.
Get This Free Report
