Broadcom Inc. $AVGO Shares Bought by Capital Asset Advisory Services LLC

Capital Asset Advisory Services LLC grew its position in Broadcom Inc. (NASDAQ:AVGO) by 38.4% during the 1st quarter, Holdings Channel.com reports. The firm owned 36,593 shares of the semiconductor manufacturer’s stock after purchasing an additional 10,154 shares during the period. Capital Asset Advisory Services LLC’s holdings in Broadcom were worth $11,326,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in AVGO. ROSS JOHNSON & Associates LLC grew its stake in Broadcom by 1,320.0% during the 4th quarter. ROSS JOHNSON & Associates LLC now owns 71 shares of the semiconductor manufacturer’s stock worth $25,000 after buying an additional 66 shares during the last quarter. Networth Advisors LLC increased its position in Broadcom by 546.2% during the 1st quarter. Networth Advisors LLC now owns 84 shares of the semiconductor manufacturer’s stock valued at $26,000 after buying an additional 71 shares in the last quarter. SWAN Capital LLC raised its stake in Broadcom by 261.9% in 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 last quarter. Miller Global Investments LLC purchased a new stake in Broadcom in the fourth quarter valued at about $31,000. Finally, Nvest Wealth Strategies Inc. acquired a new stake in Broadcom in the fourth quarter worth about $33,000. 76.43% of the stock is owned by institutional investors and hedge funds.

Broadcom News Roundup

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?

Insider Activity at Broadcom

In other Broadcom news, Director Justine Page sold 2,018 shares of the firm’s stock in a transaction that occurred on Wednesday, April 8th. The stock was sold at an average price of $353.00, for a total value of $712,354.00. Following the sale, the director directly owned 18,164 shares of the company’s stock, valued at approximately $6,411,892. This trade represents a 10.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Mark David Brazeal sold 4,825 shares of the business’s stock in a transaction that occurred on 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 owned 269,989 shares of the company’s stock, valued at $106,621,355.99. This trade represents a 1.76% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 60,987 shares of company stock valued at $21,899,980 in the last ninety days. 1.90% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on AVGO. Benchmark boosted their price target on Broadcom from $485.00 to $545.00 and gave the stock a “buy” rating in a research note on Thursday, June 4th. Rosenblatt Securities reiterated a “buy” rating and issued a $500.00 target price on shares of Broadcom in a research note on Thursday, June 4th. Dbs Bank raised shares of Broadcom to a “moderate buy” rating in a research report on Thursday, June 18th. Morgan Stanley set a $502.00 price target on shares of Broadcom and gave the company an “overweight” rating in a research note on Thursday, June 4th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $525.00 price target 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 assigned a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $493.24.

Broadcom Price Performance

AVGO stock opened at $360.45 on Monday. Broadcom Inc. has a one year low of $269.58 and a one year high of $495.00. 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’s fifty day moving average is $407.92 and its 200 day moving average is $362.49. The firm has a market cap of $1.71 trillion, a PE ratio of 60.08, a P/E/G ratio of 0.63 and a beta of 1.45.

Broadcom (NASDAQ:AVGO) last posted its earnings results 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. 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 analyst estimates of $22.13 billion. During the same period in the prior year, the company posted $1.58 EPS. The company’s revenue for the quarter was up 47.9% on a year-over-year basis. On average, research analysts forecast that Broadcom Inc. will post 10.24 EPS for the current year.

Broadcom Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 22nd were given a dividend of $0.65 per share. The ex-dividend date was Monday, June 22nd. This represents a $2.60 dividend on an annualized basis and a yield of 0.7%. Broadcom’s dividend payout ratio is currently 43.33%.

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.