Pacer Advisors Inc. trimmed its stake in Broadcom Inc. (NASDAQ:AVGO – Free Report) by 10.4% during the fourth quarter, Holdings Channel reports. The fund owned 770,119 shares of the semiconductor manufacturer’s stock after selling 89,696 shares during the period. Pacer Advisors Inc.’s holdings in Broadcom were worth $266,538,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently modified their holdings of the company. ROSS JOHNSON & Associates LLC raised its holdings in shares of Broadcom by 1,320.0% in the 4th 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 period. SWAN Capital LLC grew its holdings in Broadcom by 261.9% during 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 period. Miller Global Investments LLC bought a new position in Broadcom during the fourth quarter valued at $31,000. Nvest Wealth Strategies Inc. purchased a new stake in Broadcom in the fourth quarter worth $33,000. Finally, Family CFO Inc bought a new stake in shares of Broadcom in the fourth quarter valued at $35,000. 76.43% of the stock is owned by institutional investors.
Insider Buying and Selling at Broadcom
In other Broadcom news, insider Mark David Brazeal sold 4,825 shares of the firm’s stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $394.91, for a total value of $1,905,440.75. Following the sale, the insider owned 269,989 shares of the company’s stock, valued at $106,621,355.99. This trade represents a 1.76% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider S. Ram Velaga sold 17,260 shares of Broadcom stock in a transaction dated Thursday, April 9th. The shares were sold at an average price of $352.12, for a total value of $6,077,591.20. Following the sale, the insider owned 65,932 shares of the company’s stock, valued at approximately $23,215,975.84. This trade represents a 20.75% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 59,385 shares of company stock valued at $21,301,057 over the last 90 days. Insiders own 1.90% of the company’s stock.
Wall Street Analyst Weigh In
Read Our Latest Report on Broadcom
Broadcom Stock Performance
NASDAQ AVGO opened at $411.35 on Friday. The company’s 50 day simple moving average is $411.42 and its two-hundred day simple moving average is $363.50. 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 Inc. has a 1 year low of $244.17 and a 1 year high of $495.00. The stock has a market capitalization of $1.96 trillion, a PE ratio of 68.56, a P/E/G ratio of 0.72 and a beta of 1.41.
Broadcom (NASDAQ:AVGO – Get Free Report) last released its quarterly 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. The firm 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 period in the previous year, the business earned $1.58 EPS. 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. Investors of record on Monday, June 22nd will be paid a dividend of $0.65 per share. The ex-dividend date of this dividend is Monday, June 22nd. This represents a $2.60 annualized dividend and a yield of 0.6%. Broadcom’s dividend payout ratio (DPR) is currently 43.33%.
Key Headlines Impacting Broadcom
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.
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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