Redwood Family Wealth LLC acquired a new stake in shares of Broadcom Inc. (NASDAQ:AVGO – Free Report) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 2,485 shares of the semiconductor manufacturer’s stock, valued at approximately $860,000. Broadcom accounts for 0.8% of Redwood Family Wealth LLC’s portfolio, making the stock its 27th largest holding.
Other large investors have also made changes to their positions in the company. ROSS JOHNSON & Associates LLC raised its holdings in shares of Broadcom by 1,320.0% during the fourth quarter. ROSS JOHNSON & Associates LLC now owns 71 shares of the semiconductor manufacturer’s stock worth $25,000 after purchasing an additional 66 shares during the last quarter. SWAN Capital LLC boosted its holdings in Broadcom by 261.9% in the fourth quarter. SWAN Capital LLC now owns 76 shares of the semiconductor manufacturer’s stock valued at $26,000 after purchasing an additional 55 shares during the last quarter. Miller Global Investments LLC purchased a new stake in Broadcom in the fourth quarter valued at $31,000. Nvest Wealth Strategies Inc. acquired a new stake in Broadcom during the 4th quarter worth about $33,000. Finally, Family CFO Inc acquired a new stake in Broadcom during the 4th quarter worth about $35,000. 76.43% of the stock is owned by hedge funds and other institutional investors.
More Broadcom News
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.
Insider Buying and Selling
Analyst Upgrades and Downgrades
Several equities analysts have recently issued reports on AVGO shares. JPMorgan Chase & Co. boosted their price objective on Broadcom from $500.00 to $580.00 and gave the company an “overweight” rating in a report on Thursday, June 4th. KeyCorp reaffirmed an “overweight” rating and set a $575.00 target price (up from $500.00) on shares of Broadcom in a report on Thursday, June 4th. DA Davidson lifted their price target on Broadcom from $375.00 to $400.00 and gave the company a “neutral” rating in a research 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. Finally, Seaport Research Partners restated a “neutral” rating on shares of Broadcom in a research report on Wednesday, April 8th. One analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, Broadcom currently has an average rating of “Moderate Buy” and an average price target of $490.13.
Get Our Latest Analysis on AVGO
Broadcom Stock Performance
Shares of Broadcom stock opened at $411.35 on Friday. The firm has a 50-day simple moving average of $411.42 and a two-hundred day simple moving average of $363.50. 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 Inc. has a fifty-two week low of $244.17 and a fifty-two week high of $495.00. The company has a market cap of $1.96 trillion, a P/E ratio of 68.56, a price-to-earnings-growth ratio of 0.72 and a beta of 1.41.
Broadcom (NASDAQ:AVGO – Get Free Report) last posted its earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 EPS for the quarter, beating analysts’ consensus estimates of $2.40 by $0.04. Broadcom had a return on equity of 41.61% and a net margin of 38.85%.The firm had revenue of $22.19 billion for the quarter, compared to analysts’ expectations of $22.13 billion. During the same period last year, the firm earned $1.58 EPS. The company’s quarterly revenue was up 47.9% on a year-over-year basis. As a group, equities analysts predict that Broadcom Inc. will post 10.24 earnings per share for the current fiscal year.
Broadcom Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 22nd will be issued a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Monday, June 22nd. Broadcom’s dividend payout ratio (DPR) 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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