Bamco Inc. NY Boosts Position in Broadcom Inc. $AVGO

Bamco Inc. NY boosted its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 8.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 537,840 shares of the semiconductor manufacturer’s stock after purchasing an additional 40,441 shares during the quarter. Bamco Inc. NY’s holdings in Broadcom were worth $186,146,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Banco Bilbao Vizcaya Argentaria S.A. boosted its position in Broadcom by 32.7% during the fourth quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 874,300 shares of the semiconductor manufacturer’s stock worth $302,826,000 after purchasing an additional 215,411 shares in the last quarter. Basso Capital Management L.P. purchased a new stake in Broadcom during the fourth quarter worth $83,000. BNB Wealth Management LLC purchased a new stake in Broadcom during the fourth quarter worth $3,537,000. Bridgeway Capital Management LLC boosted its position in Broadcom by 4.8% during the fourth quarter. Bridgeway Capital Management LLC now owns 126,339 shares of the semiconductor manufacturer’s stock worth $43,726,000 after purchasing an additional 5,776 shares in the last quarter. Finally, Align Financial LLC purchased a new stake in Broadcom during the fourth quarter worth $7,307,000. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have commented on AVGO. Wells Fargo & Company reiterated an “overweight” rating and set a $545.00 target price (up from $430.00) on shares of Broadcom in a research report on Thursday, May 14th. Jefferies Financial Group set a $550.00 price objective on Broadcom and gave the company a “buy” rating in a research report on Thursday, June 4th. Rosenblatt Securities restated a “buy” rating and issued a $500.00 price objective on shares of Broadcom in a research report on Thursday, June 4th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $515.00 price objective (up from $430.00) on shares of Broadcom in a research report on Thursday, June 4th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $525.00 price objective on shares of Broadcom in a research report on Thursday, June 4th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $490.13.

Broadcom Stock Performance

Broadcom stock opened at $392.90 on Thursday. The firm has a market capitalization of $1.87 trillion, a P/E ratio of 65.48, a PEG ratio of 0.66 and a beta of 1.41. The stock has a fifty day moving average price of $408.66 and a 200 day moving average price of $363.11. Broadcom Inc. has a 52 week low of $244.17 and a 52 week high of $495.00. The company has a current ratio of 2.24, a quick ratio of 2.01 and a debt-to-equity ratio of 0.71.

Broadcom (NASDAQ:AVGO) last released its earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 EPS for the quarter, beating the consensus estimate 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 return on equity of 41.61% and a net margin of 38.85%.The business’s quarterly revenue was up 47.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.58 earnings per share. Equities research analysts anticipate that Broadcom Inc. will post 10.24 earnings per share for the current year.

Broadcom Announces Dividend

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

Key Broadcom News

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

Insider Activity at Broadcom

In other Broadcom news, Director Gayla J. Delly sold 1,000 shares of the company’s 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 directly owned 32,352 shares in the company, valued at $11,592,045.12. This represents a 3.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider S. Ram Velaga sold 8,000 shares of the company’s 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 owned 57,932 shares of the company’s stock, valued at $21,464,964.64. This represents a 12.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 51,233 shares of company stock valued at $18,125,134 over the last three months. Insiders own 1.90% of the company’s stock.

Broadcom 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.