Catalyst Investment Management LLC Makes New $624,000 Investment in Broadcom Inc. $AVGO

Catalyst Investment Management LLC purchased a new stake in shares of Broadcom Inc. (NASDAQ:AVGO) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,803 shares of the semiconductor manufacturer’s stock, valued at approximately $624,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. ROSS JOHNSON & Associates LLC grew its stake in shares of Broadcom by 1,320.0% in the fourth quarter. ROSS JOHNSON & Associates LLC now owns 71 shares of the semiconductor manufacturer’s stock valued at $25,000 after buying an additional 66 shares in the last quarter. SWAN Capital LLC lifted its position in 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 acquiring an additional 55 shares in the last quarter. Miller Global Investments LLC purchased a new position in Broadcom in the 4th quarter worth approximately $31,000. Nvest Wealth Strategies Inc. purchased a new position in Broadcom in the 4th quarter worth approximately $33,000. Finally, Family CFO Inc acquired a new stake in Broadcom in the fourth quarter valued at approximately $35,000. 76.43% of the stock is currently owned by institutional investors and hedge funds.

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 Stock Performance

Shares of AVGO opened at $411.35 on Friday. Broadcom Inc. has a 1 year low of $244.17 and a 1 year high of $495.00. The company has a market cap of $1.96 trillion, a price-to-earnings ratio of 68.56, a price-to-earnings-growth ratio of 0.72 and a beta of 1.41. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.01 and a current ratio of 2.24. The firm has a fifty day moving average of $411.42 and a 200-day moving average of $363.50.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.40 by $0.04. The business had revenue of $22.19 billion during the quarter, compared to the consensus estimate of $22.13 billion. Broadcom had a return on equity of 41.61% and a net margin of 38.85%.The business’s revenue was up 47.9% on a year-over-year basis. During the same period in the previous year, the firm posted $1.58 earnings per share. As a group, equities analysts anticipate that Broadcom Inc. will post 10.24 earnings per share for the current year.

Broadcom Dividend Announcement

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

Insiders Place Their Bets

In related news, Director Gayla J. Delly sold 1,000 shares of the firm’s stock in a transaction that occurred on 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 sale, the director directly owned 32,352 shares in the company, valued at approximately $11,592,045.12. This trade represents a 3.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Harry L. You purchased 1,000 shares of the company’s stock in a transaction on Thursday, June 11th. The stock was bought at an average cost of $373.57 per share, for a total transaction of $373,570.00. Following the acquisition, the director directly owned 38,466 shares of the company’s stock, valued at $14,369,743.62. This represents a 2.67% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders sold 59,385 shares of company stock worth $21,301,057. Company insiders own 1.90% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on AVGO. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $515.00 price objective (up from $430.00) on shares of Broadcom in a report on Thursday, June 4th. Wall Street Zen raised Broadcom from a “buy” rating to a “strong-buy” rating in a research report on Monday, June 15th. Citigroup reiterated a “buy” rating on shares of Broadcom in a research note on Thursday, June 4th. DA Davidson raised their price objective on Broadcom from $375.00 to $400.00 and gave the company a “neutral” rating in a research note on Thursday, June 4th. Finally, Rosenblatt Securities restated a “buy” rating and set a $500.00 price objective on shares of Broadcom in a report on Thursday, June 4th. One research analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $490.13.

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.