IFP Advisors Inc trimmed its holdings in shares of Broadcom Inc. (NASDAQ:AVGO – Free Report) by 3.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 87,886 shares of the semiconductor manufacturer’s stock after selling 2,957 shares during the period. IFP Advisors Inc’s holdings in Broadcom were worth $33,199,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Fullerton Advisors LLC increased its stake in Broadcom by 1.3% during the 1st quarter. Fullerton Advisors LLC now owns 1,989 shares of the semiconductor manufacturer’s stock valued at $616,000 after buying an additional 25 shares during the period. NORTHSTAR ASSET MANAGEMENT Co lifted its stake in shares of Broadcom by 0.5% in the 1st quarter. NORTHSTAR ASSET MANAGEMENT Co now owns 5,350 shares of the semiconductor manufacturer’s stock worth $1,656,000 after acquiring an additional 25 shares during the period. RFG Holdings Inc. lifted its stake in shares of Broadcom by 0.3% in the 1st quarter. RFG Holdings Inc. now owns 8,499 shares of the semiconductor manufacturer’s stock worth $2,631,000 after acquiring an additional 26 shares during the period. Yukon Wealth Management Inc. lifted its stake in shares of Broadcom by 1.1% in the 1st quarter. Yukon Wealth Management Inc. now owns 2,501 shares of the semiconductor manufacturer’s stock worth $774,000 after acquiring an additional 26 shares during the period. Finally, NerdWallet Wealth Partners LLC boosted its holdings in shares of Broadcom by 2.6% in the second quarter. NerdWallet Wealth Partners LLC now owns 1,057 shares of the semiconductor manufacturer’s stock valued at $399,000 after acquiring an additional 27 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors.
Broadcom Stock Down 5.9%
AVGO stock opened at $393.05 on Friday. Broadcom Inc. has a 12 month low of $281.87 and a 12 month high of $495.00. The firm has a market cap of $1.87 trillion, a PE ratio of 65.51, a P/E/G ratio of 0.80 and a beta of 1.45. The firm has a 50 day simple moving average of $389.79 and a 200 day simple moving average of $373.30. 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 Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 22nd were paid a dividend of $0.65 per share. The ex-dividend date of this dividend was Monday, June 22nd. This represents a $2.60 annualized dividend and a dividend yield of 0.7%. Broadcom’s dividend payout ratio (DPR) is currently 43.33%.
Insider Buying and Selling
In other news, Director Justine Page sold 1,602 shares of the company’s stock in a transaction on Monday, June 29th. The stock was sold at an average price of $373.86, for a total transaction of $598,923.72. Following the completion of the sale, the director directly owned 17,426 shares of the company’s stock, valued at $6,514,884.36. This represents a 8.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Gayla J. Delly sold 1,890 shares of the company’s stock in a transaction on Wednesday, July 8th. The shares were sold at an average price of $385.38, for a total value of $728,368.20. Following the sale, the director directly owned 31,326 shares of the company’s stock, valued at approximately $12,072,413.88. This represents a 5.69% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 61,644 shares of company stock valued at $24,016,214. 1.90% of the stock is owned by insiders.
Analyst Ratings Changes
A number of research analysts recently commented on AVGO shares. Oppenheimer reiterated an “outperform” rating and set a $535.00 price objective (up from $450.00) on shares of Broadcom in a research note on Thursday, June 4th. The Goldman Sachs Group restated a “buy” rating on shares of Broadcom in a research report on Monday, August 3rd. UBS Group set a $485.00 price target on Broadcom and gave the company a “buy” rating in a research report on Thursday, June 4th. Truist Financial boosted their price objective on Broadcom from $545.00 to $550.00 and gave the stock a “buy” rating in a research note on Thursday, June 4th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $525.00 price objective on shares of Broadcom in a research note on Thursday, June 4th. Twenty-eight equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $493.24.
Read Our Latest Report on Broadcom
Key Broadcom News
Here are the key news stories impacting Broadcom this week:
- Positive Sentiment: Broadcom’s custom-silicon and XPU opportunity remains a key long-term catalyst. Analysts and commentators point to accelerating AI infrastructure spending, major customer agreements, and potential growth in custom chips and networking. Broadcom: XPU Growth Trajectory Underestimated, Stock A Bargain
- Positive Sentiment: Wall Street’s average price target implies substantial upside from recent trading levels, supporting the bullish view that the market may be underestimating Broadcom’s AI growth trajectory. Broadcom is Down Over 3 Months: One Wall Street Pro Sees 60%+ Gains Ahead
- Positive Sentiment: Continued institutional interest, including purchases by GAMCO Investors and Cathie Wood’s reported investment, provides some additional support for the stock’s long-term AI investment case. Cathie Wood buys $16.2 million of Broadcom
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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