3,086 Shares in Broadcom Inc. $AVGO Bought by Cedarwood Wealth LLC

Cedarwood Wealth LLC bought a new stake in Broadcom Inc. (NASDAQ:AVGO) during the fourth quarter, Holdings Channel reports. The fund bought 3,086 shares of the semiconductor manufacturer’s stock, valued at approximately $1,003,000. Broadcom comprises about 1.1% of Cedarwood Wealth LLC’s investment portfolio, making the stock its 22nd biggest position.

Other institutional investors have also recently added to or reduced their stakes in the company. Brown Brothers Harriman & Co. grew its stake in Broadcom by 10.7% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 77,411 shares of the semiconductor manufacturer’s stock worth $25,539,000 after buying an additional 7,499 shares during the last quarter. Dana Investment Advisors Inc. boosted its position in shares of Broadcom by 2.6% during the third quarter. Dana Investment Advisors Inc. now owns 173,759 shares of the semiconductor manufacturer’s stock worth $57,325,000 after buying an additional 4,442 shares during the period. Sovran Advisors LLC grew its holdings in Broadcom by 121.3% in the 4th quarter. Sovran Advisors LLC now owns 30,631 shares of the semiconductor manufacturer’s stock worth $10,507,000 after buying an additional 16,789 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. grew its holdings in Broadcom by 406.1% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 11,994 shares of the semiconductor manufacturer’s stock worth $4,151,000 after buying an additional 9,624 shares in the last quarter. Finally, Siligmueller & Norvid Wealth Advisors LLC acquired a new stake in Broadcom in the 3rd quarter valued at approximately $762,000. Hedge funds and other institutional investors own 76.43% of the company’s stock.

More Broadcom News

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.

Analysts Set New Price Targets

A number of brokerages recently weighed in on AVGO. Seaport Research Partners restated a “neutral” rating on shares of Broadcom in a research note on Wednesday, April 8th. Wall Street Zen raised shares of Broadcom from a “buy” rating to a “strong-buy” rating in a research note on Monday, June 15th. Erste Group Bank upgraded shares of Broadcom from a “hold” rating to a “buy” rating in a research report on Friday, June 5th. Evercore reaffirmed an “outperform” rating and issued a $582.00 price target on shares of Broadcom in a research note on Tuesday, May 19th. Finally, KeyCorp reiterated an “overweight” rating and issued a $575.00 price objective (up from $500.00) on shares of Broadcom in a report on Thursday, June 4th. One investment analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $490.13.

Insider Buying and Selling

In related news, insider Mark David Brazeal sold 4,825 shares of Broadcom stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $394.91, for a total value of $1,905,440.75. Following the transaction, the insider directly owned 269,989 shares in the company, valued at $106,621,355.99. The trade was a 1.76% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider S. Ram Velaga sold 17,260 shares of the business’s stock in a transaction on Thursday, April 9th. The stock was sold at an average price of $352.12, for a total value of $6,077,591.20. Following the sale, the insider directly owned 65,932 shares in the company, valued at $23,215,975.84. This trade represents a 20.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 59,385 shares of company stock valued at $21,301,057 in the last three months. Insiders own 1.90% of the company’s stock.

Broadcom Stock Performance

NASDAQ:AVGO opened at $411.35 on Friday. Broadcom Inc. has a twelve month low of $244.17 and a twelve month 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. The company has a 50-day moving average of $411.42 and a 200-day moving average of $363.50. The firm 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.

Broadcom (NASDAQ:AVGO) last released its earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $22.13 billion. During the same period in the previous year, the firm earned $1.58 EPS. The business’s revenue for the quarter was up 47.9% on a year-over-year basis. Analysts forecast that Broadcom Inc. will post 10.24 earnings per share for the current fiscal year.

Broadcom Announces Dividend

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

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.