Advanced Portfolio Management LLC Sells 12,138 Shares of Broadcom Inc. $AVGO

Advanced Portfolio Management LLC reduced its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 66.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,052 shares of the semiconductor manufacturer’s stock after selling 12,138 shares during the period. Broadcom accounts for about 6.4% of Advanced Portfolio Management LLC’s portfolio, making the stock its 2nd largest holding. Advanced Portfolio Management LLC’s holdings in Broadcom were worth $2,095,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in AVGO. Align Financial LLC purchased a new stake in shares of Broadcom during the 4th quarter valued at approximately $7,307,000. Alta Park Capital LP raised its position in shares of Broadcom by 11.6% during the 4th quarter. Alta Park Capital LP now owns 55,715 shares of the semiconductor manufacturer’s stock valued at $19,283,000 after buying an additional 5,780 shares during the period. American Trust raised its position in shares of Broadcom by 2.2% during the 4th quarter. American Trust now owns 10,410 shares of the semiconductor manufacturer’s stock valued at $3,603,000 after buying an additional 228 shares during the period. Freestone Grove Partners LP raised its position in shares of Broadcom by 7.8% during the 4th quarter. Freestone Grove Partners LP now owns 30,085 shares of the semiconductor manufacturer’s stock valued at $10,412,000 after buying an additional 2,180 shares during the period. Finally, Challenger Wealth Management raised its position in shares of Broadcom by 8.5% during the 4th quarter. Challenger Wealth Management now owns 7,049 shares of the semiconductor manufacturer’s stock valued at $2,440,000 after buying an additional 551 shares during the period. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider S. Ram Velaga sold 17,260 shares of the stock in a transaction dated Thursday, April 9th. The shares were sold at an average price of $352.12, for a total transaction of $6,077,591.20. Following the completion of the transaction, the insider directly owned 65,932 shares of the company’s stock, valued at $23,215,975.84. This represents a 20.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Gayla J. Delly sold 1,000 shares of the stock in a transaction dated Thursday, April 9th. The shares were sold at an average price of $358.31, for a total transaction of $358,310.00. Following the completion of the transaction, the director directly owned 32,352 shares of the company’s stock, valued at approximately $11,592,045.12. This trade represents a 3.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 51,233 shares of company stock valued at $18,125,134 over the last ninety days. 1.90% of the stock is currently owned by company insiders.

Broadcom Stock Performance

NASDAQ AVGO opened at $392.90 on Thursday. Broadcom Inc. has a 1 year low of $244.17 and a 1 year high of $495.00. The company has a market capitalization of $1.87 trillion, a PE ratio of 65.48, a P/E/G ratio of 0.66 and a beta of 1.41. The company has a fifty day moving average of $408.66 and a two-hundred day moving average of $363.11. 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 earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share for the quarter, topping the consensus estimate of $2.40 by $0.04. Broadcom had a net margin of 38.85% and a return on equity of 41.61%. The business had revenue of $22.19 billion during the quarter, compared to the consensus estimate of $22.13 billion. During the same quarter in the prior 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. As a group, analysts expect that Broadcom Inc. will post 10.24 earnings per share for the current year.

Broadcom Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 22nd will be issued a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Monday, June 22nd. Broadcom’s dividend payout ratio is currently 43.33%.

Analysts Set New Price Targets

AVGO has been the topic of a number of research analyst reports. UBS Group set a $485.00 target price on Broadcom and gave the company a “buy” rating in a research report on Thursday, June 4th. KeyCorp reissued an “overweight” rating and issued a $575.00 target price (up from $500.00) on shares of Broadcom in a research report on Thursday, June 4th. TD Cowen reissued a “buy” rating and issued a $500.00 target price on shares of Broadcom in a research report on Thursday, June 4th. Citigroup reissued a “buy” rating on shares of Broadcom in a research report on Thursday, June 4th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $525.00 price objective on shares of Broadcom in a research report on Thursday, June 4th. One analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $490.13.

Broadcom News Roundup

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: JPMorgan reiterated a bullish stance on Broadcom, saying the market may be underestimating its long-term AI opportunity and calling the shares attractive at current levels. Barrons article
• Positive Sentiment: Other coverage highlighted Broadcom’s “massive AI pipeline” and the company’s growing role in AI infrastructure, reinforcing expectations for multi-year revenue growth. Benzinga article
• Positive Sentiment: Broadcom announced pricing terms for cash tender offers to repurchase portions of its outstanding debt, a move that can support balance-sheet management and financial flexibility. PR Newswire article
• Neutral Sentiment: Commentary on Broadcom’s latest quarter noted strong AI-chip demand and revenue growth, but also pointed to gross margin pressure and cautious guidance, which may be keeping some investors from getting more aggressive. Zacks article
• Negative Sentiment: Some broader AI-stock commentary has compared today’s AI capex boom to the dot-com era, renewing valuation and cycle-risk concerns across the sector that could weigh on sentiment for AVGO. 247WallSt article

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.