Broadcom Inc. $AVGO Shares Sold by Burney Co.

Burney Co. trimmed its stake in Broadcom Inc. (NASDAQ:AVGO) by 35.9% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 101,942 shares of the semiconductor manufacturer’s stock after selling 57,082 shares during the quarter. Broadcom accounts for approximately 1.0% of Burney Co.’s holdings, making the stock its 11th biggest holding. Burney Co.’s holdings in Broadcom were worth $31,552,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of AVGO. Norges Bank bought a new stake in Broadcom in the 4th quarter valued at about $24,252,196,000. Cardano Risk Management B.V. boosted its stake in Broadcom by 895.2% during the 4th quarter. Cardano Risk Management B.V. now owns 12,689,800 shares of the semiconductor manufacturer’s stock valued at $4,391,940,000 after purchasing an additional 11,414,701 shares during the period. State Street Corp grew its position in Broadcom by 2.7% in the 4th quarter. State Street Corp now owns 190,084,351 shares of the semiconductor manufacturer’s stock worth $65,788,194,000 after purchasing an additional 5,040,801 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its position in Broadcom by 499.4% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 5,634,232 shares of the semiconductor manufacturer’s stock worth $1,858,789,000 after purchasing an additional 4,694,313 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of Broadcom by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 482,707,302 shares of the semiconductor manufacturer’s stock valued at $167,064,997,000 after purchasing an additional 3,919,715 shares during the period. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insider Transactions at Broadcom

In related news, Director Justine Page sold 1,602 shares of Broadcom stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $373.86, for a total transaction of $598,923.72. Following the transaction, the director directly owned 17,426 shares of the company’s stock, valued at $6,514,884.36. The trade was a 8.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mark David Brazeal sold 25,000 shares of the business’s stock in a transaction dated Wednesday, July 8th. The stock was sold at an average price of $379.19, for a total transaction of $9,479,750.00. Following the completion of the sale, the insider owned 219,989 shares in the company, valued at approximately $83,417,628.91. This trade represents a 10.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 36,644 shares of company stock worth $13,982,964. Corporate insiders own 1.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on AVGO shares. DA Davidson lifted their price target on Broadcom from $375.00 to $400.00 and gave the company a “neutral” rating in a report on Thursday, June 4th. Evercore reissued an “outperform” rating and issued a $582.00 price objective on shares of Broadcom in a report on Tuesday, May 19th. Zacks Research cut Broadcom from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 21st. TD Cowen reaffirmed a “buy” rating and set a $500.00 target price on shares of Broadcom in a research note on Thursday, June 4th. Finally, Mizuho boosted their price target on Broadcom from $480.00 to $530.00 and gave the stock an “outperform” rating in a research report on Thursday, June 4th. One research analyst has rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $493.24.

Key Broadcom News

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom’s expanded Apple agreement, valued at more than $30 billion through 2031, strengthens visibility for revenue and highlights demand beyond AI chips. Why Broadcom Stock Rose Today
• Positive Sentiment: Analysts remain upbeat on Broadcom’s AI business, with Jefferies reiterating a Buy rating and a $550 price target as AI chip momentum improves. Broadcom’s (AVGO) AI Chip Momentum Keeps Wall Street Bullish
• Positive Sentiment: Broadcom is being viewed as a broader AI infrastructure winner because its networking products help connect large-scale AI systems, expanding the investment thesis beyond GPUs and custom chips. Broadcom stock’s latest catalyst targets Nvidia where it looks strongest
• Neutral Sentiment: Some coverage notes Broadcom’s near-$2 trillion market value and strong AI revenue growth, but also suggests much of the good news may already be reflected in the stock. Broadcom Is Less Than 5% From the $2 Trillion Club — and Apple Just Committed $30 Billion for More Chips
• Negative Sentiment: Erste Group downgraded Broadcom to Hold, citing valuation concerns, which may be limiting upside after the recent rally. Erste Group downgrades Broadcom to Hold citing valuation concerns

Broadcom Price Performance

NASDAQ AVGO opened at $399.97 on Friday. Broadcom Inc. has a 12 month low of $269.58 and a 12 month high of $495.00. The firm has a market capitalization of $1.90 trillion, a PE ratio of 66.66, a P/E/G ratio of 0.70 and a beta of 1.45. The company’s 50 day simple moving average is $405.29 and its 200 day simple moving average is $364.13. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.24 and a quick ratio of 2.01.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.40 by $0.04. Broadcom had a return on equity of 41.61% and a net margin of 38.85%.The firm had revenue of $22.19 billion during the quarter, compared to analyst estimates of $22.13 billion. During the same period last year, the company posted $1.58 EPS. The firm’s quarterly revenue was up 47.9% on a year-over-year basis. As a group, equities research analysts forecast 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 was paid on Tuesday, June 30th. Investors of record on Monday, June 22nd were paid a dividend of $0.65 per share. The ex-dividend date of this dividend was Monday, June 22nd. This represents a $2.60 annualized dividend and a yield of 0.7%. Broadcom’s dividend payout ratio (DPR) is currently 43.33%.

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.