Broadcom Inc. $AVGO Stake Raised by Corient Private Wealth LLC

Corient Private Wealth LLC boosted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 69.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 6,179,908 shares of the semiconductor manufacturer’s stock after acquiring an additional 2,539,849 shares during the quarter. Broadcom accounts for about 1.1% of Corient Private Wealth LLC’s investment portfolio, making the stock its 19th largest holding. Corient Private Wealth LLC owned 0.13% of Broadcom worth $2,138,866,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Baring Financial LLC boosted its holdings in shares of Broadcom by 2.2% during the fourth quarter. Baring Financial LLC now owns 1,359 shares of the semiconductor manufacturer’s stock worth $470,000 after purchasing an additional 29 shares during the period. Five Oceans Advisors increased its stake in Broadcom by 0.4% in the 4th quarter. Five Oceans Advisors now owns 8,191 shares of the semiconductor manufacturer’s stock valued at $2,835,000 after buying an additional 29 shares during the period. Planning Alternatives Ltd. ADV increased its stake in Broadcom by 1.4% in the 3rd quarter. Planning Alternatives Ltd. ADV now owns 2,168 shares of the semiconductor manufacturer’s stock valued at $715,000 after buying an additional 30 shares during the period. Bell Investment Advisors Inc lifted its position in Broadcom by 1.9% in the 3rd quarter. Bell Investment Advisors Inc now owns 1,638 shares of the semiconductor manufacturer’s stock worth $540,000 after buying an additional 30 shares in the last quarter. Finally, Bare Financial Services Inc lifted its position in Broadcom by 11.6% in the 3rd quarter. Bare Financial Services Inc now owns 299 shares of the semiconductor manufacturer’s stock worth $99,000 after buying an additional 31 shares in the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Insider Buying and Selling

In other news, Director Justine Page sold 2,018 shares of the business’s stock in a transaction on Wednesday, April 8th. The shares were sold at an average price of $353.00, for a total value of $712,354.00. Following the completion of the sale, the director directly owned 18,164 shares in the company, valued at approximately $6,411,892. The trade was a 10.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider S. Ram Velaga sold 17,260 shares of the company’s stock in a transaction on Thursday, April 9th. The stock was sold at an average price of $352.12, for a total transaction of $6,077,591.20. Following the sale, the insider directly owned 65,932 shares of the company’s stock, valued at approximately $23,215,975.84. This represents a 20.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 59,385 shares of company stock valued at $21,301,057. 1.90% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

AVGO has been the topic of several research analyst reports. Royal Bank Of Canada boosted their price target on shares of Broadcom from $360.00 to $400.00 and gave the company a “sector perform” rating in a report on Thursday, June 4th. Weiss Ratings upgraded Broadcom from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, June 9th. Morgan Stanley set a $502.00 target price on Broadcom and gave the company an “overweight” rating in a research note on Thursday, June 4th. Jefferies Financial Group set a $550.00 target price on Broadcom and gave the company a “buy” rating in a research note on Thursday, June 4th. Finally, Seaport Research Partners reaffirmed a “neutral” rating on shares of Broadcom in a research note on Wednesday, April 8th. One 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. According to data from MarketBeat.com, Broadcom currently 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 expanded its cash tender offers for outstanding debt to $3 billion from $2.5 billion after strong investor demand, which can be viewed as a sign of balance-sheet management and helped lift sentiment toward the stock. Broadcom Inc. Announces Results and Upsize of Offers to Purchase for Cash Certain of its Outstanding Debt Securities
• Positive Sentiment: JPMorgan reiterated a bullish view, saying investors should be “aggressive buyers” and arguing the market is underestimating Broadcom’s long-term AI opportunity, reinforcing the rally in AVGO. AVGO stock jumps — JPMorgan says investors should be ‘aggressive buyers’ of Broadcom at current levels
• Positive Sentiment: Citi also highlighted Broadcom as a top chip stock on soaring data-center demand, adding to optimism around AI-driven revenue growth. Citi Touts Broadcom Inc. (AVGO) as a Top Chip Stock on Soaring Data Center Demand
• Neutral Sentiment: Insider Mark David Brazeal sold shares in two June transactions totaling more than 8,100 shares. The sales are notable, but they represent relatively small reductions in a large personal holding and do not necessarily signal a change in the company’s outlook. Mark David Brazeal insider trading page

Broadcom Stock Up 4.7%

AVGO stock opened at $411.35 on Friday. The firm has a market cap of $1.96 trillion, a PE ratio of 68.56, a PEG ratio of 0.69 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 company has a fifty day simple moving average of $410.21 and a 200 day simple moving average of $363.17. 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 posted its earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 EPS for the quarter, topping the consensus estimate of $2.40 by $0.04. The firm had revenue of $22.19 billion for the quarter, compared to the consensus estimate of $22.13 billion. Broadcom had a net margin of 38.85% and a return on equity of 41.61%. The business’s quarterly revenue was up 47.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.58 earnings per share. Sell-side analysts anticipate that Broadcom Inc. will post 10.24 EPS for the current fiscal year.

Broadcom Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 22nd will be given a dividend of $0.65 per share. The ex-dividend date of this dividend is Monday, June 22nd. This represents a $2.60 dividend on an annualized basis and a yield of 0.6%. Broadcom’s dividend payout ratio is presently 43.33%.

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.