Banque Transatlantique SA Raises Stock Holdings in Broadcom Inc. $AVGO

Banque Transatlantique SA raised its holdings in Broadcom Inc. (NASDAQ:AVGO) by 144.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 129,801 shares of the semiconductor manufacturer’s stock after purchasing an additional 76,686 shares during the quarter. Broadcom accounts for approximately 1.1% of Banque Transatlantique SA’s investment portfolio, making the stock its 19th biggest holding. Banque Transatlantique SA’s holdings in Broadcom were worth $45,009,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. ROSS JOHNSON & Associates LLC increased its stake in shares of Broadcom by 1,320.0% during the fourth quarter. ROSS JOHNSON & Associates LLC now owns 71 shares of the semiconductor manufacturer’s stock worth $25,000 after purchasing an additional 66 shares in the last quarter. SWAN Capital LLC boosted its position in shares of Broadcom by 261.9% during the 4th quarter. SWAN Capital LLC now owns 76 shares of the semiconductor manufacturer’s stock worth $26,000 after purchasing an additional 55 shares during the period. Miller Global Investments LLC acquired a new position in Broadcom during the 4th quarter worth about $31,000. Nvest Wealth Strategies Inc. acquired a new stake in shares of Broadcom during the fourth quarter worth about $33,000. Finally, Family CFO Inc acquired a new stake in Broadcom during the 4th quarter worth approximately $35,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on AVGO shares. JPMorgan Chase & Co. lifted 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. TD Cowen reaffirmed a “buy” rating and set a $500.00 price target on shares of Broadcom in a research report on Thursday, June 4th. Citigroup reissued a “buy” rating on shares of Broadcom in a report on Thursday, June 4th. UBS Group set a $485.00 target price on shares of Broadcom and gave the stock a “buy” rating in a research note on Thursday, June 4th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $515.00 price target (up from $430.00) on shares of Broadcom in a research note on Thursday, June 4th. One research 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 stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $490.13.

Broadcom Price Performance

Shares of NASDAQ AVGO opened at $411.35 on Friday. The stock has a fifty day moving average price of $411.42 and a 200 day moving average price of $363.50. The company has a market cap of $1.96 trillion, a P/E ratio of 68.56, a P/E/G ratio of 0.72 and a beta of 1.41. 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 Inc. has a 12-month low of $244.17 and a 12-month high of $495.00.

Broadcom (NASDAQ:AVGO) last released 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. 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%.Broadcom’s quarterly revenue was up 47.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.58 EPS. Research analysts anticipate that Broadcom Inc. will post 10.24 EPS for the current fiscal year.

Broadcom Dividend Announcement

The firm 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 $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Monday, June 22nd. Broadcom’s dividend payout ratio is presently 43.33%.

Insider Transactions at Broadcom

In other Broadcom news, insider Charlie B. Kawwas sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, April 8th. The shares were sold at an average price of $345.23, for a total value of $3,452,300.00. Following the transaction, the insider owned 787,184 shares of the company’s stock, valued at $271,759,532.32. This trade represents a 1.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider S. Ram Velaga sold 8,000 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the insider directly owned 57,932 shares in the company, valued at approximately $21,464,964.64. This trade represents a 12.13% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 59,385 shares of company stock valued at $21,301,057 over the last ninety days. 1.90% of the stock is currently owned by corporate insiders.

Broadcom News Roundup

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom’s debt tender offer was upsized to $3 billion after strong investor demand, signaling active balance-sheet management and reinforcing investor confidence. Broadcom Inc. Announces Results and Upsize of Offers to Purchase for Cash Certain of its Outstanding Debt Securities
• Positive Sentiment: JPMorgan remained bullish on Broadcom, saying investors should be “aggressive buyers,” which supports the view that the market may still be underestimating AVGO’s AI growth. AVGO stock jumps — JPMorgan says investors should be ‘aggressive buyers’ of Broadcom at current levels
• Positive Sentiment: Citi also called Broadcom a top chip stock on strong data-center demand, adding another bullish Wall Street view tied to AI infrastructure spending. Citi Touts Broadcom Inc. (AVGO) as a Top Chip Stock on Soaring Data Center Demand
• Positive Sentiment: One report said VMware, Broadcom’s second-largest business, may be set to accelerate, which could broaden growth beyond the company’s AI chip exposure. VMware: Broadcom’s Second Biggest Business Set to Accelerate
• Neutral Sentiment: Insider Mark David Brazeal sold shares in two June transactions, but the sales were relatively small versus his remaining stake and do not necessarily change the broader investment thesis. Mark David Brazeal insider trading page
• Negative Sentiment: One analyst warned that chip valuations are getting stretched and suggested investors could consider alternatives, including Broadcom, which may temper enthusiasm if valuation concerns intensify. Analyst Warns Intel Valuation ‘Doesn’t Make Sense.’ Suggests NVIDIA, AMD, Micron, and Broadcom as Alternatives.

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.