Capital Investment Counsel LLC Sells 6,998 Shares of Broadcom Inc. $AVGO

Capital Investment Counsel LLC lessened its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 11.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 52,386 shares of the semiconductor manufacturer’s stock after selling 6,998 shares during the period. Broadcom makes up 2.2% of Capital Investment Counsel LLC’s holdings, making the stock its 8th biggest position. Capital Investment Counsel LLC’s holdings in Broadcom were worth $16,214,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. ROSS JOHNSON & Associates LLC raised its position in Broadcom by 1,320.0% during the fourth quarter. ROSS JOHNSON & Associates LLC now owns 71 shares of the semiconductor manufacturer’s stock valued at $25,000 after acquiring an additional 66 shares in the last quarter. Networth Advisors LLC grew its position in Broadcom by 546.2% during the first quarter. Networth Advisors LLC now owns 84 shares of the semiconductor manufacturer’s stock valued at $26,000 after buying an additional 71 shares during the period. SWAN Capital LLC grew its position in Broadcom by 261.9% during the fourth quarter. SWAN Capital LLC now owns 76 shares of the semiconductor manufacturer’s stock valued at $26,000 after buying an additional 55 shares during the period. Miller Global Investments LLC purchased a new position in Broadcom in the fourth quarter valued at $31,000. Finally, Nvest Wealth Strategies Inc. acquired a new stake in shares of Broadcom during the 4th quarter valued at about $33,000. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have issued reports on AVGO. Wall Street Zen upgraded Broadcom from a “buy” rating to a “strong-buy” rating in a research report on Wednesday. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $515.00 target price (up from $430.00) on shares of Broadcom in a research report on Thursday, June 4th. Mizuho boosted their price target on shares of Broadcom from $480.00 to $530.00 and gave the stock an “outperform” rating in a report on Thursday, June 4th. Wells Fargo & Company reaffirmed an “overweight” rating and set a $545.00 price objective (up from $430.00) on shares of Broadcom in a report on Thursday, May 14th. Finally, Oppenheimer restated an “outperform” rating and set a $535.00 price target (up from $450.00) on shares of Broadcom in a research report on Thursday, June 4th. One equities 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 company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $493.24.

Broadcom Price Performance

AVGO stock opened at $360.45 on Friday. Broadcom Inc. has a one year low of $269.58 and a one year high of $495.00. The firm has a market cap of $1.71 trillion, a PE ratio of 60.08, a PEG ratio of 0.63 and a beta of 1.45. The firm’s 50 day moving average price is $407.92 and its 200-day moving average price is $362.33. 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 (NASDAQ:AVGO) last issued its quarterly earnings data on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 EPS for the quarter, topping the consensus estimate of $2.40 by $0.04. Broadcom had a net margin of 38.85% and a return on equity of 41.61%. The firm had revenue of $22.19 billion for the quarter, compared to analyst estimates of $22.13 billion. During the same period in the prior year, the business posted $1.58 EPS. The business’s revenue for the quarter was up 47.9% compared to the same quarter last year. On average, equities research analysts anticipate that Broadcom Inc. will post 10.24 EPS for the current year.

Broadcom Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 22nd were issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date was Monday, June 22nd. Broadcom’s dividend payout ratio (DPR) is 43.33%.

Insider Buying and Selling

In related news, insider Charlie B. Kawwas sold 10,000 shares of Broadcom stock in a transaction that occurred on 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 completion of the transaction, the insider owned 787,184 shares in the company, valued at approximately $271,759,532.32. The trade was a 1.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Harry L. You bought 1,000 shares of the business’s stock in a transaction that occurred on Thursday, June 11th. The shares were acquired at an average cost of $373.57 per share, for a total transaction of $373,570.00. Following the completion of the purchase, the director owned 38,466 shares in the company, valued at $14,369,743.62. This trade represents a 2.67% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders sold a total of 60,987 shares of company stock worth $21,899,980 over the last 90 days. 1.90% of the stock is owned by insiders.

Trending Headlines about Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: JPMorgan, UBS, Jefferies and other analysts remain constructive on Broadcom’s AI-driven growth, with price targets well above current levels and continued optimism around custom AI silicon demand, including exposure to customers such as OpenAI and Anthropic. UBS Reaffirms Buy Rating on Broadcom (AVGO) Amid AI ASIC Demand and OpenAI, Anthropic Growth
• Positive Sentiment: Articles highlighting Broadcom’s partnership with OpenAI on the “Jalapeño” AI accelerator reinforce the market’s bullish view that AI infrastructure can keep driving revenue growth. What Broadcom (AVGO)’s Jalapeño AI Accelerator Partnership With OpenAI Means For Shareholders
• Neutral Sentiment: Several recent write-ups argue Broadcom may be attractive after its pullback, but they mostly restate the same long-term thesis rather than pointing to a new catalyst. Why Broadcom Stock Slumped Today
• Neutral Sentiment: Investors continue to search for clues on whether Broadcom can rebound from its post-earnings decline, with coverage focusing on earnings estimates and fair-value changes. Broadcom (AVGO) Stock Gets Fair Value Boost As Analysts Split On AI Outlook
• Negative Sentiment: Director Justine Page sold 1,602 shares of Broadcom stock, extending insider-selling headlines that can weigh on sentiment even if the sale is relatively small versus the company’s size. SEC Form 4 filing for Justine Page sale
• Negative Sentiment: Broadcom remains about 14% below its last earnings report level, and recent commentary suggests investors are still uneasy about whether the company’s strong results were enough to justify its premium valuation. Broadcom Inc. (AVGO) Down 14% Since Last Earnings Report: Can It Rebound?

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.