Hartline Investment Corp Purchases 2,240 Shares of Broadcom Inc. $AVGO

Hartline Investment Corp lifted its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 41.6% in the first quarter, HoldingsChannel.com reports. The firm owned 7,619 shares of the semiconductor manufacturer’s stock after purchasing an additional 2,240 shares during the period. Hartline Investment Corp’s holdings in Broadcom were worth $2,358,000 at the end of the most recent quarter.

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

Broadcom Stock Performance

Shares of AVGO stock 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 stock has a market cap of $1.90 trillion, a PE ratio of 66.66, a price-to-earnings-growth ratio of 0.70 and a beta of 1.45. The company has a current ratio of 2.24, a quick ratio of 2.01 and a debt-to-equity ratio of 0.71. The company’s fifty day moving average price is $405.29 and its 200-day moving average price is $364.13.

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, 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 analyst estimates of $22.13 billion. During the same period last year, the business earned $1.58 EPS. Broadcom’s quarterly revenue was up 47.9% compared to the same quarter last year. On average, equities analysts expect that Broadcom Inc. will post 10.24 EPS for the current fiscal year.

Broadcom Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 22nd were issued a $0.65 dividend. 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 is 43.33%.

Broadcom News Summary

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

Insider Buying and Selling at Broadcom

In other Broadcom news, insider Mark David Brazeal sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 8th. The shares were sold at an average price of $379.19, for a total transaction of $9,479,750.00. Following the completion of the transaction, the insider owned 219,989 shares of the company’s stock, valued at approximately $83,417,628.91. This trade represents a 10.20% 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 link. Also, Director Justine Page sold 1,602 shares of Broadcom stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $373.86, for a total transaction of $598,923.72. Following the transaction, the director 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 disclosure for this sale is available in the SEC filing. Insiders sold a total of 36,644 shares of company stock worth $13,982,964 over the last three months. Company insiders own 1.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Truist Financial upped their target price on Broadcom from $545.00 to $550.00 and gave the company a “buy” rating in a report on Thursday, June 4th. Zacks Research downgraded shares of Broadcom from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 21st. Bank of America upped their price objective on shares of Broadcom from $450.00 to $530.00 and gave the stock a “buy” rating in a report on Thursday, June 4th. UBS Group set a $485.00 target price on shares of Broadcom and gave the stock a “buy” rating in a research report on Thursday, June 4th. Finally, KeyCorp reiterated an “overweight” rating and set a $575.00 price target (up from $500.00) on shares of Broadcom in a research report on Thursday, June 4th. One analyst has rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $493.24.

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.