Wealthfront Advisers LLC boosted its position in Broadcom Inc. (NASDAQ:AVGO – Free Report) by 3.7% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 635,173 shares of the semiconductor manufacturer’s stock after purchasing an additional 22,652 shares during the quarter. Wealthfront Advisers LLC’s holdings in Broadcom were worth $196,592,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of AVGO. Sovran Advisors LLC grew its stake in shares of Broadcom by 121.3% in the fourth quarter. Sovran Advisors LLC now owns 30,631 shares of the semiconductor manufacturer’s stock worth $10,507,000 after purchasing an additional 16,789 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its stake in shares of Broadcom by 406.1% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 11,994 shares of the semiconductor manufacturer’s stock valued at $4,151,000 after purchasing an additional 9,624 shares in the last quarter. Aspiriant LLC lifted its holdings in Broadcom by 18.5% in the fourth quarter. Aspiriant LLC now owns 12,016 shares of the semiconductor manufacturer’s stock worth $4,158,000 after purchasing an additional 1,872 shares during the period. World Investment Advisors lifted its holdings in Broadcom by 16.1% in the fourth quarter. World Investment Advisors now owns 177,710 shares of the semiconductor manufacturer’s stock worth $61,505,000 after purchasing an additional 24,703 shares during the period. Finally, Western Financial Corp CA grew its position in Broadcom by 90.5% in the 4th quarter. Western Financial Corp CA now owns 6,481 shares of the semiconductor manufacturer’s stock valued at $2,243,000 after buying an additional 3,079 shares in the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling at Broadcom
In other news, Director Gayla J. Delly sold 1,890 shares of the stock in a transaction on Wednesday, July 8th. The stock was sold at an average price of $385.38, for a total transaction of $728,368.20. Following the completion of the sale, the director owned 31,326 shares in the company, valued at approximately $12,072,413.88. This represents a 5.69% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Mark David Brazeal sold 25,000 shares of the firm’s stock in a transaction on 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 sale, the insider directly owned 194,989 shares of the company’s stock, valued at approximately $78,254,935.37. This represents a 11.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 61,644 shares of company stock valued at $24,016,214. 1.90% of the stock is currently owned by corporate insiders.
Analyst Ratings Changes
View Our Latest Research Report on Broadcom
Broadcom Price Performance
Shares of Broadcom stock opened at $370.83 on Monday. Broadcom Inc. has a 52 week low of $273.00 and a 52 week high of $495.00. The company has a current ratio of 2.24, a quick ratio of 2.01 and a debt-to-equity ratio of 0.71. The stock has a market cap of $1.76 trillion, a PE ratio of 61.81, a price-to-earnings-growth ratio of 0.65 and a beta of 1.45. The company’s 50-day moving average price is $401.29 and its two-hundred day moving average price is $365.42.
Broadcom (NASDAQ:AVGO – Get Free Report) last posted its quarterly earnings data on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share for the quarter, beating the consensus estimate of $2.40 by $0.04. The company 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 business’s revenue for the quarter was up 47.9% on a year-over-year basis. During the same quarter last year, the firm posted $1.58 EPS. As a group, sell-side analysts anticipate that Broadcom Inc. will post 10.24 EPS for the current fiscal year.
Broadcom Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 22nd were issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date was Monday, June 22nd. Broadcom’s dividend payout ratio (DPR) is presently 43.33%.
Key Stories Impacting Broadcom
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 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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