Northstar Financial Companies Inc. decreased its stake in shares of Broadcom Inc. (NASDAQ:AVGO – Free Report) by 45.8% during the 1st quarter, Holdings Channel reports. The institutional investor owned 2,019 shares of the semiconductor manufacturer’s stock after selling 1,708 shares during the period. Northstar Financial Companies Inc.’s holdings in Broadcom were worth $625,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in AVGO. Advisors Preferred LLC lifted its stake in shares of Broadcom by 62.5% in the 1st quarter. Advisors Preferred LLC now owns 19,962 shares of the semiconductor manufacturer’s stock worth $6,178,000 after acquiring an additional 7,677 shares during the period. Opinicus Capital Inc. increased its stake in shares of Broadcom by 1.9% during the first quarter. Opinicus Capital Inc. now owns 4,115 shares of the semiconductor manufacturer’s stock valued at $1,274,000 after acquiring an additional 75 shares during the period. Meridian Management Co. raised its holdings in Broadcom by 0.3% during the first quarter. Meridian Management Co. now owns 9,425 shares of the semiconductor manufacturer’s stock worth $2,917,000 after purchasing an additional 28 shares in the last quarter. Katamaran Capital LLP bought a new stake in Broadcom during the first quarter worth approximately $4,851,000. Finally, Sigma Planning Corp lifted its position in Broadcom by 1.9% in the first quarter. Sigma Planning Corp now owns 77,373 shares of the semiconductor manufacturer’s stock worth $23,948,000 after purchasing an additional 1,455 shares during the period. 76.43% of the stock is currently owned by institutional investors.
Insider Buying and Selling
In related news, Director Justine Page sold 1,602 shares of Broadcom stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $373.86, for a total value of $598,923.72. Following the transaction, the director owned 17,426 shares of the company’s stock, valued at approximately $6,514,884.36. This trade represents a 8.42% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Harry L. You acquired 1,000 shares of Broadcom 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 completion of the purchase, the director directly owned 38,466 shares of the company’s stock, valued at approximately $14,369,743.62. This represents a 2.67% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders sold 61,644 shares of company stock worth $24,016,214. Company insiders own 1.90% of the company’s stock.
Broadcom Price Performance
Broadcom (NASDAQ:AVGO – Get Free Report) last released its quarterly earnings data 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. The business had revenue of $22.19 billion during the quarter, compared to analyst estimates of $22.13 billion. Broadcom had a return on equity of 41.61% and a net margin of 38.85%.The company’s revenue was up 47.9% compared to the same quarter last year. During the same period last year, the company posted $1.58 EPS. On average, research analysts forecast that Broadcom Inc. will post 10.24 earnings per share for the current fiscal year.
Broadcom Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 22nd were given a $0.65 dividend. The ex-dividend date was Monday, June 22nd. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.7%. Broadcom’s dividend payout ratio (DPR) is 43.33%.
Wall Street Analyst Weigh In
Several equities analysts have recently issued reports on the company. Royal Bank Of Canada lifted their price target on Broadcom from $360.00 to $400.00 and gave the company a “sector perform” rating in a research report on Thursday, June 4th. Benchmark upped their price objective on Broadcom from $485.00 to $545.00 and gave the company a “buy” rating in a report on Thursday, June 4th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $525.00 target price on shares of Broadcom in a research note on Thursday, June 4th. UBS Group set a $485.00 target price on Broadcom and gave the stock a “buy” rating in a report on Thursday, June 4th. Finally, Susquehanna reiterated a “positive” rating and issued a $490.00 price target (up from $450.00) on shares of Broadcom in a research report on Thursday, May 28th. One research analyst has rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $493.24.
Get Our Latest Stock Report on AVGO
Broadcom News Summary
Here are the key news stories impacting Broadcom this week:
- Positive Sentiment: Standard Chartered chose Broadcom to support a long-term modernization of its global banking infrastructure, underscoring Broadcom’s role in secure private-cloud and enterprise networking solutions. Standard Chartered Selects Broadcom to Deliver Secure, Always-On Banking Services at Global Scale
- Positive Sentiment: Wall Street commentary continues to describe Broadcom as a core AI beneficiary, and some analysts have raised price targets even after the stock pullback. As Shares Fall, Analyst Are Boosting Their Broadcom Price Targets
- Neutral Sentiment: Broadcom remains a major talking point in AI-focused market coverage, with some investors viewing it as an indicator for the broader market and semiconductor cycle. Jim Cramer Says Broadcom Will Tell You When the Market Is About to Turn
- Negative Sentiment: Broadcom is facing renewed skepticism around valuation, with one report asking whether the AI story has made the stock too expensive. Has Broadcom Become Too Expensive for Its AI Story?
- Negative Sentiment: The stock is also being hit by a broader selloff in semiconductor names as investors rotate away from AI-capex winners and worry about a slowdown in chip spending. Marvell Drops 8% as AI Capex Slowdown Fears Weigh on Chips; Broadcom, AMD, and Intel Slide
- Negative Sentiment: Broadcom is also dealing with regulatory uncertainty after reports said it faces an EU antitrust review tied to VMware licensing changes. Broadcom (AVGO) Faces EU Antitrust Review Over VMware Licensing Changes
Broadcom 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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