NFSG Corp lowered its holdings in Broadcom Inc. (NASDAQ:AVGO – Free Report) by 10.1% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 44,917 shares of the semiconductor manufacturer’s stock after selling 5,022 shares during the quarter. Broadcom makes up 2.3% of NFSG Corp’s portfolio, making the stock its 9th biggest position. NFSG Corp’s holdings in Broadcom were worth $13,902,000 as of its most recent SEC filing.
Several other large investors have also recently made changes to their positions in the stock. Livforsakringsbolaget Skandia Omsesidigt raised its holdings in Broadcom by 8.9% in the first quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 289,518 shares of the semiconductor manufacturer’s stock worth $89,562,000 after purchasing an additional 23,700 shares in the last quarter. Advisors Preferred LLC raised its holdings in shares of Broadcom by 62.5% in the first quarter. Advisors Preferred LLC now owns 19,962 shares of the semiconductor manufacturer’s stock worth $6,178,000 after buying an additional 7,677 shares during the last quarter. Opinicus Capital Inc. raised its stake in Broadcom by 1.9% in the 1st quarter. Opinicus Capital Inc. now owns 4,115 shares of the semiconductor manufacturer’s stock worth $1,274,000 after acquiring an additional 75 shares during the last quarter. Meridian Management Co. lifted its holdings in shares of 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 during the period. Finally, Katamaran Capital LLP purchased a new stake in shares of Broadcom in the 1st quarter valued at $4,851,000. 76.43% of the stock is owned by institutional investors.
Insider Activity
In other news, Director Harry L. You bought 1,000 shares of Broadcom stock in a transaction that occurred on Thursday, June 11th. The shares were purchased at an average price of $373.57 per share, with a total value of $373,570.00. Following the completion of the acquisition, the director directly owned 38,466 shares in the company, valued at $14,369,743.62. The trade was a 2.67% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Justine Page sold 1,602 shares of the firm’s stock in a transaction on Monday, June 29th. The shares were sold at an average price of $373.86, for a total transaction of $598,923.72. Following the completion of the sale, the director owned 17,426 shares in the company, valued at $6,514,884.36. The trade was a 8.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 61,644 shares of company stock valued at $24,016,214 over the last three months. 1.90% of the stock is currently owned by corporate insiders.
Broadcom Trading Down 1.0%
Broadcom (NASDAQ:AVGO – Get Free Report) last issued its quarterly earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.40 by $0.04. Broadcom had a net margin of 38.85% and a return on equity of 41.61%. The company had revenue of $22.19 billion for the quarter, compared to analyst estimates of $22.13 billion. During the same period in the prior year, the firm earned $1.58 earnings per share. The business’s revenue for the quarter was up 47.9% compared to the same quarter last year. On average, equities analysts forecast that Broadcom Inc. will post 10.24 earnings per share for the current year.
Broadcom Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 22nd were issued a dividend of $0.65 per share. The ex-dividend date was Monday, June 22nd. This represents a $2.60 annualized dividend and a yield of 0.7%. Broadcom’s dividend payout ratio is 43.33%.
Wall Street Analyst Weigh In
Several equities analysts have recently issued reports on AVGO shares. Benchmark boosted 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. Wells Fargo & Company reaffirmed an “overweight” rating and set a $545.00 price objective (up from $430.00) on shares of Broadcom in a report on Thursday, May 14th. Erste Group Bank reaffirmed a “hold” rating on shares of Broadcom in a research note on Tuesday, July 7th. Cantor Fitzgerald restated an “overweight” rating and set a $525.00 price target on shares of Broadcom in a research report on Thursday, June 4th. Finally, Wall Street Zen cut Broadcom from a “strong-buy” rating to a “buy” rating in a report on Saturday. One analyst has rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, Broadcom has a consensus rating of “Moderate Buy” and an average price target of $493.24.
View 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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