Corient Private Wealth LLC Buys 273,044 Shares of Broadcom Inc. $AVGO

Corient Private Wealth LLC lifted its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 7.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,913,103 shares of the semiconductor manufacturer’s stock after buying an additional 273,044 shares during the period. Broadcom comprises approximately 1.5% of Corient Private Wealth LLC’s investment portfolio, making the stock its 11th biggest position. Corient Private Wealth LLC’s holdings in Broadcom were worth $1,355,463,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Brighton Jones LLC lifted its stake in shares of Broadcom by 21.8% in the fourth quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer’s stock worth $6,882,000 after acquiring an additional 5,322 shares during the period. Revolve Wealth Partners LLC raised its holdings in Broadcom by 10.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 7,997 shares of the semiconductor manufacturer’s stock worth $1,854,000 after purchasing an additional 756 shares during the last quarter. United Bank raised its holdings in Broadcom by 76.5% during the 1st quarter. United Bank now owns 2,339 shares of the semiconductor manufacturer’s stock worth $392,000 after purchasing an additional 1,014 shares during the last quarter. Sivia Capital Partners LLC lifted its position in shares of Broadcom by 10.1% in the 2nd quarter. Sivia Capital Partners LLC now owns 12,693 shares of the semiconductor manufacturer’s stock worth $3,499,000 after purchasing an additional 1,160 shares during the period. Finally, Capital & Planning LLC lifted its position in shares of Broadcom by 10.5% in the 2nd quarter. Capital & Planning LLC now owns 3,983 shares of the semiconductor manufacturer’s stock worth $1,098,000 after purchasing an additional 378 shares during the period. 76.43% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Broadcom news, insider S. Ram Velaga sold 8,000 shares of the 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 transaction, the insider owned 57,932 shares in the company, valued at approximately $21,464,964.64. This represents a 12.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Harry L. You acquired 1,000 shares of Broadcom stock in a transaction on Thursday, June 11th. The stock was purchased at an average cost of $373.57 per share, with a total value of $373,570.00. Following the purchase, the director directly owned 38,466 shares of the company’s stock, valued at approximately $14,369,743.62. This trade represents a 2.67% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders sold a total of 59,385 shares of company stock worth $21,301,057 over the last 90 days. 1.90% of the stock is owned by company 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 Price Performance

Broadcom stock opened at $411.35 on Friday. The company has a market capitalization of $1.96 trillion, a PE ratio of 68.56, a PEG ratio of 0.72 and a beta of 1.41. Broadcom Inc. has a 12-month low of $244.17 and a 12-month high of $495.00. The firm’s fifty day moving average is $411.42 and its 200 day moving average is $363.50. The company has a quick ratio of 2.01, a current ratio of 2.24 and a debt-to-equity ratio of 0.71.

Broadcom (NASDAQ:AVGO) last posted its quarterly 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 during the quarter, compared to analysts’ expectations of $22.13 billion. During the same period last year, the company posted $1.58 earnings per share. The business’s quarterly revenue was up 47.9% on a year-over-year basis. As a group, sell-side analysts predict that Broadcom Inc. will post 10.24 EPS for the current fiscal year.

Broadcom Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 22nd will be paid a $0.65 dividend. The ex-dividend date is Monday, June 22nd. This represents a $2.60 annualized dividend and a dividend yield of 0.6%. Broadcom’s dividend payout ratio (DPR) is currently 43.33%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on AVGO shares. DA Davidson upped their price objective on shares of Broadcom from $375.00 to $400.00 and gave the company a “neutral” rating in a research note on Thursday, June 4th. KeyCorp restated an “overweight” rating and issued a $575.00 target price (up from $500.00) on shares of Broadcom in a report on Thursday, June 4th. Jefferies Financial Group set a $550.00 price target on shares of Broadcom and gave the company a “buy” rating in a research report on Thursday, June 4th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $515.00 price target (up from $430.00) on shares of Broadcom in a report on Thursday, June 4th. Finally, Morgan Stanley set a $502.00 price objective on Broadcom and gave the company an “overweight” rating in a research note on Thursday, June 4th. One investment analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus 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.