Welch & Forbes LLC Raises Stock Position in Broadcom Inc. $AVGO

Key Points

• Welch & Forbes LLC boosted its Broadcom stake by 5.2% in the first quarter, adding 11,865 shares and bringing its position to 241,441 shares valued at about $74.7 million.
• Broadcom’s latest quarterly results beat expectations, with EPS of $2.44 versus $2.40 expected and revenue of $22.19 billion, up 47.9% year over year. Analysts now forecast full-year earnings of $10.24 per share.
• The company recently paid a $0.65 quarterly dividend and remains heavily owned by institutions, but insider selling picked up, including shares sold by an executive and a director in July.

Welch & Forbes LLC increased its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 5.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 241,441 shares of the semiconductor manufacturer's stock after acquiring an additional 11,865 shares during the period. Welch & Forbes LLC's holdings in Broadcom were worth $74,729,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank purchased a new position in Broadcom during the fourth quarter worth about $24,252,196,000. Cardano Risk Management B.V. increased its stake in Broadcom by 895.2% in the 4th quarter. Cardano Risk Management B.V. now owns 12,689,800 shares of the semiconductor manufacturer's stock worth $4,391,940,000 after acquiring an additional 11,414,701 shares during the last quarter. State Street Corp raised its holdings in shares of Broadcom by 2.7% in the 4th quarter. State Street Corp now owns 190,084,351 shares of the semiconductor manufacturer's stock valued at $65,788,194,000 after acquiring an additional 5,040,801 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Broadcom by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 482,707,302 shares of the semiconductor manufacturer's stock valued at $167,064,997,000 after acquiring an additional 3,919,715 shares in the last quarter. Finally, Nordea Investment Management AB boosted its position in shares of Broadcom by 47.5% during the 4th quarter. Nordea Investment Management AB now owns 9,814,757 shares of the semiconductor manufacturer's stock valued at $3,406,211,000 after acquiring an additional 3,160,586 shares during the last quarter. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Broadcom Price Performance

AVGO stock opened at $394.28 on Thursday. The firm has a market cap of $1.88 trillion, a P/E ratio of 65.71, a P/E/G ratio of 0.68 and a beta of 1.45. The firm's fifty day moving average is $403.23 and its 200 day moving average is $365.11. Broadcom Inc. has a 52 week low of $273.00 and a 52 week 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 posted its quarterly earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share 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 during the quarter, compared to the consensus estimate of $22.13 billion. During the same period in the previous year, the firm posted $1.58 earnings per share. The firm's revenue for the quarter was up 47.9% on a year-over-year basis. Research analysts predict that Broadcom Inc. will post 10.24 earnings per share for the current year.

Broadcom Announces Dividend

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

Insider Buying and Selling

In other news, insider Mark David Brazeal sold 25,000 shares of the business's stock in a transaction dated Friday, July 10th. The stock was sold at an average price of $401.33, for a total value of $10,033,250.00. Following the completion of the sale, the insider owned 194,989 shares of the company's stock, valued at approximately $78,254,935.37. The trade was a 11.36% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Gayla J. Delly sold 1,890 shares of the stock in a transaction dated Wednesday, July 8th. The shares were sold at an average price of $385.38, for a total value of $728,368.20. Following the sale, the director owned 31,326 shares of the company's stock, valued at $12,072,413.88. This represents a 5.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 61,644 shares of company stock worth $24,016,214. Insiders own 1.90% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Evercore reissued an "outperform" rating and set a $582.00 price objective on shares of Broadcom in a report on Tuesday, May 19th. Erste Group Bank reiterated a "hold" rating on shares of Broadcom in a research report on Tuesday, July 7th. Seaport Research Partners reissued a "neutral" rating on shares of Broadcom in a research note on Wednesday, April 8th. Truist Financial increased their price target on shares of Broadcom from $545.00 to $550.00 and gave the stock a "buy" rating in a report on Thursday, June 4th. Finally, Oppenheimer restated an "outperform" rating and set a $535.00 price objective (up from $450.00) on shares of Broadcom in a research report on Thursday, June 4th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $493.24.

More Broadcom News

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom is being viewed as a major AI infrastructure winner, with recent coverage highlighting its accelerating AI revenue, record bookings, and strong customer partnerships. Snowflake vs. Broadcom: Which Enterprise AI Stock Is the Smarter Buy?
• Positive Sentiment: Wall Street commentary says Broadcom’s Apple agreement through 2031 is strategically positive and supports a durable revenue stream from custom chips and connectivity components. Why Broadcom (AVGO) Is Reinforcing Its Long-Term Growth With an Extended Apple Chip Partnership Through 2031
• Positive Sentiment: Analysts remain upbeat on Broadcom, with reports pointing to roughly 32.8% implied upside from the average price target and improving earnings estimate revisions. Wall Street Analysts See a 32.76% Upside in Broadcom Inc. (AVGO): Can the Stock Really Move This High?
• Positive Sentiment: Morgan Stanley called Broadcom a “core AI winner,” reinforcing the view that AVGO remains one of the main beneficiaries of AI spending. Broadcom is a 'core AI winner,' even as MediaTek encroaches, Morgan Stanley says
• Neutral Sentiment: Broadcom is also drawing heavy investor attention, which keeps the stock in focus but does not by itself change fundamentals. Broadcom Inc. (AVGO) Is a Trending Stock: Facts to Know Before Betting on It
• Negative Sentiment: Sentiment was tempered by reports that Broadcom executives sold shares, which can raise caution even though insider sales do not necessarily signal a business problem. Broadcom Executive Sells $10 Million in AVGO Stock. Is the Insider Sale a Warning Sign?
• Negative Sentiment: Reuters reported that five cloud business groups are urging EU regulators to suspend some Broadcom practices, adding a regulatory overhang to the name. Five cloud business groups urge EU interim measures against Broadcom

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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