Resources Management Corp CT ADV raised its stake in Broadcom Inc. (NASDAQ:AVGO – Free Report) by 402.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 61,608 shares of the semiconductor manufacturer’s stock after acquiring an additional 49,337 shares during the quarter. Broadcom makes up approximately 2.8% of Resources Management Corp CT ADV’s investment portfolio, making the stock its 6th largest position. Resources Management Corp CT ADV’s holdings in Broadcom were worth $21,322,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Sands Capital Management LLC lifted its holdings in shares of Broadcom by 2.6% in the fourth quarter. Sands Capital Management LLC now owns 2,114,521 shares of the semiconductor manufacturer’s stock worth $731,836,000 after acquiring an additional 53,897 shares during the last quarter. South Plains Financial Inc. lifted its holdings in shares of Broadcom by 4.8% in the fourth quarter. South Plains Financial Inc. now owns 7,646 shares of the semiconductor manufacturer’s stock worth $2,646,000 after acquiring an additional 352 shares during the last quarter. Sargent Investment Group LLC lifted its holdings in shares of Broadcom by 1.2% in the fourth quarter. Sargent Investment Group LLC now owns 15,062 shares of the semiconductor manufacturer’s stock worth $5,213,000 after acquiring an additional 177 shares during the last quarter. MML Investors Services LLC lifted its holdings in shares of Broadcom by 9.0% in the fourth quarter. MML Investors Services LLC now owns 697,188 shares of the semiconductor manufacturer’s stock worth $241,297,000 after acquiring an additional 57,319 shares during the last quarter. Finally, Mufg Securities Americas Inc. lifted its holdings in shares of Broadcom by 0.3% in the fourth quarter. Mufg Securities Americas Inc. now owns 127,222 shares of the semiconductor manufacturer’s stock worth $44,032,000 after acquiring an additional 387 shares during the last quarter. Institutional investors own 76.43% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research analysts have recently commented on the stock. Citigroup reissued a “buy” rating on shares of Broadcom in a report on Thursday, June 4th. Evercore reissued an “outperform” rating and issued a $582.00 target price on shares of Broadcom in a report on Tuesday, May 19th. Mizuho increased their target price on shares of Broadcom from $480.00 to $530.00 and gave the stock an “outperform” rating in a report on Thursday, June 4th. Weiss Ratings raised shares of Broadcom from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, June 9th. Finally, Royal Bank Of Canada increased their target price on shares of Broadcom from $360.00 to $400.00 and gave the stock a “sector perform” rating in a report on Thursday, June 4th. One research analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $490.13.
Broadcom News Summary
Here are the key news stories impacting Broadcom this week:
- Positive Sentiment: Director Harry L. You bought 1,000 Broadcom shares in a disclosed SEC filing, a vote of confidence that can reassure investors about the company’s outlook. SEC Form 4 filing
- Positive Sentiment: Recent articles continue to frame Broadcom as a major beneficiary of the AI infrastructure buildout, with investors focusing on its custom compute, networking, and semiconductor exposure. Investopedia article
- Positive Sentiment: Broadcom was included in bullish commentary about “beaten down” AI infrastructure stocks, suggesting some investors see the recent pullback as a buying opportunity rather than a fundamental deterioration. 247WallSt article
- Positive Sentiment: Wall Street Zen reportedly upgraded Broadcom to Strong-Buy, adding to the bullish analyst tone around the stock. American Banking News article
- Neutral Sentiment: Some coverage compared Broadcom with other AI infrastructure names and noted that competitors may have stronger near-term upside, which could temper enthusiasm but does not change Broadcom’s long-term AI thesis. Zacks article
- Negative Sentiment: Recent market commentary said Broadcom’s stock pulled back after record quarterly results because investors were focused on cautious AI guidance and valuation concerns, which may be weighing on sentiment. Yahoo Finance article
Broadcom Stock Up 3.1%
Shares of NASDAQ AVGO opened at $393.94 on Tuesday. The company has a 50 day simple moving average of $405.85 and a 200 day simple moving average of $363.29. The firm has a market cap of $1.87 trillion, a PE ratio of 65.66, a price-to-earnings-growth ratio of 0.67 and a beta of 1.41. Broadcom Inc. has a 1 year low of $244.17 and a 1 year high of $495.00. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.24 and a quick ratio of 2.01.
Broadcom (NASDAQ:AVGO – Get Free Report) last issued its quarterly earnings data on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.40 by $0.04. The business had revenue of $22.19 billion during the quarter, compared to analyst estimates of $22.13 billion. Broadcom had a net margin of 38.85% and a return on equity of 41.61%. The firm’s quarterly revenue was up 47.9% on a year-over-year basis. During the same quarter last year, the business earned $1.58 EPS. On average, research analysts forecast that Broadcom Inc. will post 10.24 EPS for the current year.
Broadcom Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 22nd will be issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Monday, June 22nd. Broadcom’s dividend payout ratio (DPR) is 43.33%.
Insiders Place Their Bets
In related news, Director Justine Page sold 2,018 shares of the firm’s stock in a transaction that occurred on Wednesday, April 8th. The shares were sold at an average price of $353.00, for a total value of $712,354.00. Following the completion of the transaction, the director owned 18,164 shares in the company, valued at $6,411,892. This trade represents a 10.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Harry L. You bought 1,000 shares of the firm’s stock in a transaction on Thursday, June 11th. The shares were purchased at an average cost of $373.57 per share, with a total value of $373,570.00. Following the transaction, the director directly owned 38,466 shares in the company, valued at approximately $14,369,743.62. This trade represents a 2.67% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have sold 51,233 shares of company stock worth $18,125,134 over the last quarter. 1.90% of the stock is currently owned by corporate insiders.
Broadcom Company Profile
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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