Broadcom Inc. $AVGO is Atalanta Sosnoff Capital LLC’s 8th Largest Position

Atalanta Sosnoff Capital LLC lowered its holdings in Broadcom Inc. (NASDAQ:AVGO) by 3.6% in the 4th quarter, Holdings Channel reports. The firm owned 561,328 shares of the semiconductor manufacturer’s stock after selling 20,695 shares during the period. Broadcom accounts for 3.8% of Atalanta Sosnoff Capital LLC’s portfolio, making the stock its 8th biggest holding. Atalanta Sosnoff Capital LLC’s holdings in Broadcom were worth $194,276,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Brown Brothers Harriman & Co. boosted its stake in Broadcom by 10.7% during the third quarter. Brown Brothers Harriman & Co. now owns 77,411 shares of the semiconductor manufacturer’s stock valued at $25,539,000 after buying an additional 7,499 shares during the last quarter. Dana Investment Advisors Inc. boosted its stake in Broadcom by 2.6% during the third quarter. Dana Investment Advisors Inc. now owns 173,759 shares of the semiconductor manufacturer’s stock valued at $57,325,000 after buying an additional 4,442 shares during the last quarter. Sovran Advisors LLC boosted its stake in Broadcom by 121.3% during the fourth quarter. Sovran Advisors LLC now owns 30,631 shares of the semiconductor manufacturer’s stock valued at $10,507,000 after buying an additional 16,789 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its stake in 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 buying an additional 9,624 shares during the last quarter. Finally, Siligmueller & Norvid Wealth Advisors LLC bought a new position in Broadcom during the third quarter valued at approximately $762,000. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Broadcom News Roundup

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom’s quarterly results were very strong, with revenue up 48% to a record $22.2 billion, semiconductor revenue up 79%, AI semiconductor revenue up 143% to $10.8 billion, and more than $30 billion in AI bookings, suggesting demand remains robust. Article Title
• Positive Sentiment: Several analysts and commentators argue the recent drop could be a buying opportunity, saying Broadcom remains a core infrastructure winner in AI and that Wall Street’s long-term outlook is still constructive. Article Title
• Positive Sentiment: Fresh coverage highlighted Broadcom as one of the stocks with catalysts heading into the second half of the year, and some analysts have raised earnings forecasts and price targets despite the selloff. Article Title
• Neutral Sentiment: Jim Cramer said Broadcom’s earnings were “not good” and suggested tech stocks are harder to trust as leadership names, reflecting a more cautious market mood around the stock. Article Title
• Neutral Sentiment: Broadcom also announced cash tender offers for certain outstanding debt securities, a routine balance-sheet move that is unlikely to move the stock by itself. Article Title
• Negative Sentiment: Market commentary says the stock is being punished because investors are nitpicking Broadcom’s AI outlook and pricing the shares as if growth must keep accelerating without any hiccups. Article Title
• Negative Sentiment: One note warned that Broadcom told investors to expect gross profit margins to continue falling, reinforcing concerns that profitability may soften even as revenue grows. Article Title

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on AVGO shares. Citigroup reaffirmed a “buy” rating on shares of Broadcom in a research note on Thursday, June 4th. TD Cowen reaffirmed a “buy” rating and issued a $500.00 price objective on shares of Broadcom in a research note on Thursday, June 4th. Truist Financial raised their price objective on Broadcom from $545.00 to $550.00 and gave the company a “buy” rating in a research note on Thursday, June 4th. JPMorgan Chase & Co. raised their price objective on Broadcom from $500.00 to $580.00 and gave the company an “overweight” rating in a research note on Thursday, June 4th. Finally, UBS Group set a $485.00 price objective on Broadcom and gave the company a “buy” rating in a research note on Thursday, June 4th. One investment analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $490.13.

Insider Transactions at Broadcom

In other Broadcom news, Director Gayla J. Delly sold 1,000 shares of Broadcom stock in a transaction dated Thursday, April 9th. The stock was sold at an average price of $358.31, for a total transaction of $358,310.00. Following the completion of the sale, the director owned 32,352 shares of the company’s stock, valued at approximately $11,592,045.12. The trade was a 3.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider S. Ram Velaga sold 8,000 shares of Broadcom stock in a transaction dated Friday, April 10th. The stock was sold at an average price of $370.52, for a total value of $2,964,160.00. Following the sale, the insider directly owned 57,932 shares of the company’s stock, valued at approximately $21,464,964.64. This represents a 12.13% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 324,282 shares of company stock worth $106,425,249. 1.90% of the stock is currently owned by corporate insiders.

Broadcom Stock Down 0.9%

Broadcom stock opened at $382.07 on Friday. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.24 and a quick ratio of 2.01. The stock has a market capitalization of $1.82 trillion, a price-to-earnings ratio of 63.68, a PEG ratio of 0.68 and a beta of 1.41. Broadcom Inc. has a 1-year low of $244.17 and a 1-year high of $495.00. The business has a fifty day moving average price of $404.26 and a 200-day moving average price of $363.33.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data 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. The firm had revenue of $22.19 billion during the quarter, compared to analysts’ expectations of $22.13 billion. Broadcom had a return on equity of 41.61% and a net margin of 38.85%.The business’s quarterly revenue was up 47.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.58 EPS. Equities research analysts forecast that Broadcom Inc. will post 10.24 EPS for the current fiscal year.

Broadcom Announces Dividend

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

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.