Broadcom Inc. $AVGO is Fortitude Advisory Group L.L.C.’s 7th Largest Position

Fortitude Advisory Group L.L.C. reduced its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 11.7% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,069 shares of the semiconductor manufacturer’s stock after selling 1,871 shares during the period. Broadcom accounts for 2.0% of Fortitude Advisory Group L.L.C.’s investment portfolio, making the stock its 7th biggest holding. Fortitude Advisory Group L.L.C.’s holdings in Broadcom were worth $4,355,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. Fullerton Advisors LLC raised its position in shares of Broadcom by 1.3% in the 1st quarter. Fullerton Advisors LLC now owns 1,989 shares of the semiconductor manufacturer’s stock worth $616,000 after acquiring an additional 25 shares in the last quarter. NORTHSTAR ASSET MANAGEMENT Co grew its stake in Broadcom by 0.5% during the first quarter. NORTHSTAR ASSET MANAGEMENT Co now owns 5,350 shares of the semiconductor manufacturer’s stock worth $1,656,000 after purchasing an additional 25 shares during the period. RFG Holdings Inc. grew 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 purchasing an additional 26 shares during the period. Baring Financial LLC increased its holdings in Broadcom by 2.2% in the fourth quarter. Baring Financial LLC now owns 1,359 shares of the semiconductor manufacturer’s stock worth $470,000 after purchasing an additional 29 shares in the last quarter. Finally, Five Oceans Advisors increased its holdings in Broadcom by 0.4% in the fourth quarter. Five Oceans Advisors now owns 8,191 shares of the semiconductor manufacturer’s stock worth $2,835,000 after purchasing an additional 29 shares in the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

Trending Headlines about Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Apple’s multiyear agreement to buy more than $30 billion of Broadcom chips through 2031 reinforces demand for Broadcom’s custom silicon and U.S. manufacturing strategy. Reuters: Apple to spend $30 billion in Broadcom chips deal that will see Colorado factory expand
• Positive Sentiment: Wall Street remains upbeat on Broadcom’s AI chip momentum, with Jefferies reiterating a Buy rating and a $550 price target on improving AI-related growth prospects. Broadcom’s (AVGO) AI Chip Momentum Keeps Wall Street Bullish
• Positive Sentiment: Broader semiconductor sentiment improved as the AI trade rebounded, with analysts and market commentators viewing the recent selloff as a buying opportunity for chip stocks like Broadcom. Broadcom, Intel, Corning, Marvell, and More Stocks That Explain Today’s Market
• Neutral Sentiment: Zacks highlighted Broadcom as a dividend-paying AI infrastructure name, underscoring its mix of income and AI exposure, but this was more of a stock-picking view than a new company-specific catalyst. These Dividend Paying Stocks Offer Strong Exposure to AI Trends
• Negative Sentiment: Erste Group downgraded Broadcom to Hold, citing valuation concerns, which may temper some of the enthusiasm after the recent rally. Erste Group downgrades Broadcom to Hold citing valuation concerns

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. KeyCorp restated an “overweight” rating and set a $575.00 price target (up from $500.00) on shares of Broadcom in a report on Thursday, June 4th. Benchmark lifted their price objective on shares of Broadcom from $485.00 to $545.00 and gave the company a “buy” rating in a research note on Thursday, June 4th. The Goldman Sachs Group reiterated a “buy” rating and set a $525.00 target price on shares of Broadcom in a research report on Thursday, June 4th. Bank of America increased their target price on shares of Broadcom from $450.00 to $530.00 and gave the stock a “buy” rating in a research note on Thursday, June 4th. Finally, Mizuho raised 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. One research analyst has rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $493.24.

Broadcom Stock Up 3.2%

Broadcom stock opened at $401.11 on Friday. The firm has a market capitalization of $1.91 trillion, a price-to-earnings ratio of 66.85, a price-to-earnings-growth ratio of 0.68 and a beta of 1.45. The firm’s fifty day moving average price is $405.40 and its two-hundred day moving average price is $363.87. Broadcom Inc. has a 1-year low of $269.58 and a 1-year 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.

Broadcom (NASDAQ:AVGO) last posted its earnings results 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 company had revenue of $22.19 billion during the quarter, compared to the consensus estimate of $22.13 billion. During the same period in the previous year, the firm posted $1.58 earnings per share. The firm’s revenue for the quarter was up 47.9% on a year-over-year basis. On average, equities research analysts predict that Broadcom Inc. will post 10.24 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders 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 0.6%. The ex-dividend date of this dividend was Monday, June 22nd. Broadcom’s payout ratio is currently 43.33%.

Insider Transactions at Broadcom

In other news, Director Justine Page sold 1,602 shares of the firm’s stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $373.86, for a total value of $598,923.72. Following the transaction, the director owned 17,426 shares in the company, valued at $6,514,884.36. This trade represents a 8.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Harry L. You bought 1,000 shares of the company’s stock in a transaction dated Thursday, June 11th. The stock was bought at an average price of $373.57 per share, for a total transaction of $373,570.00. Following the acquisition, the director directly owned 38,466 shares of the company’s stock, valued at approximately $14,369,743.62. This 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 9,754 shares of company stock valued at $3,774,846 over the last ninety days. 1.90% of the stock is currently owned by insiders.

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.