Broadcom Inc. $AVGO Holdings Lowered by Axxcess Wealth Management LLC

Axxcess Wealth Management LLC reduced its stake in Broadcom Inc. (NASDAQ:AVGO) by 3.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 177,070 shares of the semiconductor manufacturer’s stock after selling 6,382 shares during the period. Broadcom accounts for approximately 1.8% of Axxcess Wealth Management LLC’s holdings, making the stock its 14th biggest position. Axxcess Wealth Management LLC’s holdings in Broadcom were worth $54,805,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Brown Brothers Harriman & Co. boosted its position in shares of Broadcom by 10.7% in the third quarter. Brown Brothers Harriman & Co. now owns 77,411 shares of the semiconductor manufacturer’s stock worth $25,539,000 after buying an additional 7,499 shares during the period. Sovran Advisors LLC raised its position in Broadcom by 121.3% during the fourth quarter. Sovran Advisors LLC now owns 30,631 shares of the semiconductor manufacturer’s stock valued at $10,507,000 after buying an additional 16,789 shares during the period. Thurston Springer Miller Herd & Titak Inc. lifted its stake in Broadcom by 406.1% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 11,994 shares of the semiconductor manufacturer’s stock worth $4,151,000 after acquiring an additional 9,624 shares in the last quarter. Aspiriant LLC lifted its stake in Broadcom by 18.5% in the 4th quarter. Aspiriant LLC now owns 12,016 shares of the semiconductor manufacturer’s stock worth $4,158,000 after acquiring an additional 1,872 shares in the last quarter. Finally, World Investment Advisors boosted its position in Broadcom by 16.1% during the 4th quarter. World Investment Advisors now owns 177,710 shares of the semiconductor manufacturer’s stock worth $61,505,000 after acquiring an additional 24,703 shares during the period. 76.43% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Broadcom

In other Broadcom news, insider Mark David Brazeal sold 25,000 shares of the stock in a transaction 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 transaction, the insider directly owned 219,989 shares of the company’s stock, valued at $83,417,628.91. This represents a 10.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Harry L. You bought 1,000 shares of the business’s stock in a transaction on Thursday, June 11th. The shares were bought at an average price of $373.57 per share, for a total transaction of $373,570.00. Following the completion of the acquisition, the director 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 disclosure for this purchase is available in the SEC filing. Over the last three months, insiders have sold 36,644 shares of company stock valued at $13,982,964. Company insiders own 1.90% of the company’s stock.

Broadcom Stock Down 0.3%

NASDAQ:AVGO traded down $1.14 during mid-day trading on Friday, reaching $399.97. The stock had a trading volume of 14,579,242 shares, compared to its average volume of 26,802,910. The business’s 50 day moving average is $405.29 and its 200 day moving average is $364.13. Broadcom Inc. has a fifty-two week low of $269.58 and a fifty-two week high of $495.00. The stock has a market cap of $1.90 trillion, a P/E ratio of 66.66, a PEG ratio of 0.70 and a beta of 1.45. 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 posted its 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. The firm had revenue of $22.19 billion during the quarter, compared to analysts’ expectations of $22.13 billion. Broadcom had a net margin of 38.85% and a return on equity of 41.61%. The company’s revenue was up 47.9% compared to the same quarter last year. During the same period in the previous year, the company earned $1.58 earnings per share. As a group, sell-side analysts predict that Broadcom Inc. will post 10.24 earnings per share for the current year.

Broadcom Dividend Announcement

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

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Jefferies Financial Group set a $550.00 target price on Broadcom and gave the company a “buy” rating in a report on Thursday, June 4th. JPMorgan Chase & Co. upped their price objective on shares of Broadcom from $500.00 to $580.00 and gave the company an “overweight” rating in a research note 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. TD Cowen restated a “buy” rating and set a $500.00 price target on shares of Broadcom in a report on Thursday, June 4th. Finally, Dbs Bank upgraded shares of Broadcom to a “moderate buy” rating in a report on Thursday, June 18th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus 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.