Broadcom Inc. $AVGO Stock Holdings Increased by EULAV Asset Management

EULAV Asset Management lifted its stake in Broadcom Inc. (NASDAQ:AVGO) by 4.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 91,030 shares of the semiconductor manufacturer’s stock after purchasing an additional 4,012 shares during the quarter. EULAV Asset Management’s holdings in Broadcom were worth $31,506,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also made changes to their positions in the company. Miller Global Investments LLC purchased a new stake in shares of Broadcom in the fourth quarter worth approximately $31,000. Nvest Wealth Strategies Inc. purchased a new stake in shares of Broadcom in the fourth quarter worth approximately $33,000. Family CFO Inc acquired a new stake in Broadcom during the fourth quarter valued at $35,000. PayPay Securities Corp boosted its position in Broadcom by 88.9% during the fourth quarter. PayPay Securities Corp now owns 119 shares of the semiconductor manufacturer’s stock valued at $41,000 after purchasing an additional 56 shares during the last quarter. Finally, Cherry Tree Wealth Management LLC boosted its position in Broadcom by 44.9% during the fourth quarter. Cherry Tree Wealth Management LLC now owns 129 shares of the semiconductor manufacturer’s stock valued at $45,000 after purchasing an additional 40 shares during the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CFO Kirsten M. Spears sold 36,292 shares of the firm’s stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $321.60, for a total value of $11,671,507.20. Following the transaction, the chief financial officer directly owned 327,760 shares in the company, valued at approximately $105,407,616. This trade represents a 9.97% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Mark David Brazeal sold 50,488 shares of the firm’s stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $321.60, for a total transaction of $16,236,940.80. Following the completion of the transaction, the insider owned 278,141 shares in the company, valued at $89,450,145.60. The trade was a 15.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 324,282 shares of company stock valued at $106,425,249. 1.90% of the stock is owned by corporate insiders.

Broadcom Price Performance

Shares of NASDAQ:AVGO opened at $396.60 on Tuesday. Broadcom Inc. has a fifty-two week low of $241.11 and a fifty-two week high of $495.00. The business has a 50-day moving average of $397.96 and a two-hundred day moving average of $362.43. The stock has a market capitalization of $1.88 trillion, a P/E ratio of 66.10, a P/E/G ratio of 0.70 and a beta of 1.41. 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 (NASDAQ:AVGO) last announced its quarterly earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share for the quarter, topping analysts’ consensus estimates of $2.40 by $0.04. Broadcom had a return on equity of 41.61% and a net margin of 38.85%.The company had revenue of $22.19 billion during the quarter, compared to analysts’ expectations of $22.13 billion. During the same quarter in the previous year, the firm earned $1.58 earnings per share. The business’s quarterly revenue was up 47.9% compared to the same quarter last year. On average, equities research analysts predict that Broadcom Inc. will post 9.97 EPS for the current fiscal year.

Broadcom Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 22nd will be paid a $0.65 dividend. The ex-dividend date is Monday, June 22nd. This represents a $2.60 dividend on an annualized basis and a yield of 0.7%. Broadcom’s dividend payout ratio (DPR) is presently 43.33%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. TD Cowen reissued a “buy” rating and set a $500.00 price objective on shares of Broadcom in a research report on Thursday, June 4th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $515.00 price objective (up from $430.00) on shares of Broadcom in a research report on Thursday. Mizuho lifted their price objective on Broadcom from $480.00 to $530.00 and gave the company an “outperform” rating in a research report on Thursday, June 4th. UBS Group set a $485.00 price objective on Broadcom and gave the company a “buy” rating in a research report on Thursday. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $525.00 price objective on shares of Broadcom in a research report on Thursday, June 4th. One investment analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $490.13.

Key Broadcom News

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom announced expanded security investments for the Spring and Java ecosystem, aiming to help enterprise customers defend against AI-enabled threats and reinforcing its software strategy. Broadcom Expands Its Investment in Spring and Java Ecosystem Security to Prepare Customers for AI-Enabled Threats
• Positive Sentiment: Several analysts and market commentators said the recent post-earnings decline may be exaggerated, arguing that Broadcom’s strong revenue growth and AI momentum still support the long-term story. Jim Cramer on Broadcom: “The Disappointing Earnings May Not Be as Crushing as We Think”
• Positive Sentiment: Wall Street sentiment remains constructive, with Bank of America raising its price target on Broadcom to $530 from $450 while keeping a Buy rating after the latest quarterly results and guidance. Is Broadcom (AVGO) the Best Stock in Chase Coleman’s Tiger Global?

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.