Broadcom Inc. $AVGO Shares Acquired by E. Ohman J or Asset Management AB

E. Ohman J or Asset Management AB boosted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 12.2% in the 1st quarter, Holdings Channel reports. The firm owned 513,881 shares of the semiconductor manufacturer’s stock after buying an additional 56,003 shares during the period. Broadcom accounts for about 4.2% of E. Ohman J or Asset Management AB’s holdings, making the stock its 6th largest position. E. Ohman J or Asset Management AB’s holdings in Broadcom were worth $159,051,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of AVGO. RFG Holdings Inc. raised its stake in Broadcom by 0.3% during the first quarter. RFG Holdings Inc. now owns 8,499 shares of the semiconductor manufacturer’s stock worth $2,631,000 after acquiring an additional 26 shares in the last quarter. Baring Financial LLC boosted its stake in shares of Broadcom by 2.2% in the 4th quarter. Baring Financial LLC now owns 1,359 shares of the semiconductor manufacturer’s stock valued at $470,000 after purchasing an additional 29 shares in the last quarter. Five Oceans Advisors grew its holdings in shares of Broadcom by 0.4% during the 4th quarter. Five Oceans Advisors now owns 8,191 shares of the semiconductor manufacturer’s stock valued at $2,835,000 after purchasing an additional 29 shares during the last quarter. Solitude Financial Services grew its holdings in shares of Broadcom by 0.5% during the 1st quarter. Solitude Financial Services now owns 5,728 shares of the semiconductor manufacturer’s stock valued at $1,773,000 after purchasing an additional 29 shares during the last quarter. Finally, Planning Alternatives Ltd. ADV increased its position in Broadcom by 1.4% during the 3rd quarter. Planning Alternatives Ltd. ADV now owns 2,168 shares of the semiconductor manufacturer’s stock worth $715,000 after purchasing an additional 30 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom Trading Down 4.7%

Shares of NASDAQ AVGO opened at $392.13 on Tuesday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.01 and a current ratio of 2.24. Broadcom Inc. has a 52-week low of $246.46 and a 52-week high of $495.00. The firm has a 50 day moving average price of $412.17 and a two-hundred day moving average price of $363.42. The stock has a market cap of $1.87 trillion, a P/E ratio of 65.36, a price-to-earnings-growth ratio of 0.72 and a beta of 1.41.

Broadcom (NASDAQ:AVGO) last issued 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. The company had revenue of $22.19 billion for the quarter, compared to analyst estimates of $22.13 billion. Broadcom had a net margin of 38.85% and a return on equity of 41.61%. Broadcom’s revenue was up 47.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.58 earnings per share. As a group, equities analysts forecast that Broadcom Inc. will post 10.24 EPS for the current year.

Broadcom Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 22nd will be given a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Monday, June 22nd. Broadcom’s dividend payout ratio (DPR) is currently 43.33%.

Insider Activity

In other Broadcom news, insider S. Ram Velaga sold 17,260 shares of the company’s stock in a transaction dated 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 owned 65,932 shares in the company, valued at approximately $23,215,975.84. The trade was a 20.75% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Mark David Brazeal sold 4,825 shares of the stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $394.91, for a total value of $1,905,440.75. Following the completion of the sale, the insider directly owned 269,989 shares of the company’s stock, valued at approximately $106,621,355.99. The trade was a 1.76% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 59,385 shares of company stock worth $21,301,057. 1.90% of the stock is owned by corporate insiders.

Broadcom News Summary

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Analysts and market commentators are pointing to Broadcom’s strong AI demand as the main reason to stay bullish. Recent coverage highlighted record semiconductor sales, AI chip and networking demand, and strong customer commitments as evidence that the company’s AI growth story remains intact. Broadcom’s AI Push Boosts Semiconductor Sales: More Upside Ahead?
• Positive Sentiment: JPMorgan reportedly reiterated buy-the-dip optimism, citing Broadcom’s multi-year Google partnership, record quarterly revenue of $22.19 billion, and AI semiconductor sales of $10.8 billion, up 143% year over year. The note also pointed to expectations for another step-up in AI-chip growth next quarter. Broadcom’s AI boom — Google deal and huge revenue growth spark buy-the-dip calls
• Positive Sentiment: Several pieces argue that the market is overreacting to a modest AI revenue guide and that the selloff has created an accumulation opportunity. They emphasize that Broadcom’s revenue, semiconductor growth, AI bookings, and backlog are all at record levels, which supports the longer-term investment case. The Grandest Castle Ever Floated (and the Stocks to Profit From It)
• Positive Sentiment: Broadcom is also attracting broader investor attention and continued analyst support, including a consensus “Moderate Buy” rating, which may help stabilize sentiment after the recent decline. Broadcom Inc. (NASDAQ:AVGO) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Analysts Set New Price Targets

Several brokerages recently commented on AVGO. TD Cowen reissued a “buy” rating and issued a $500.00 price objective on shares of Broadcom in a research note on Thursday, June 4th. Oppenheimer reiterated an “outperform” rating and set a $535.00 price target (up from $450.00) on shares of Broadcom in a report on Thursday, June 4th. JPMorgan Chase & Co. increased their price target on Broadcom from $500.00 to $580.00 and gave the company an “overweight” rating in a research note on Thursday, June 4th. Jefferies Financial Group set a $550.00 price objective on Broadcom and gave the company a “buy” rating in a report on Thursday, June 4th. Finally, The Goldman Sachs Group restated a “buy” rating and set a $525.00 price objective on shares of Broadcom in a research 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 issued a Hold rating to the company’s stock. According to data from MarketBeat, Broadcom presently has a consensus rating of “Moderate Buy” and an average target price of $490.13.

About Broadcom

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.