Frank Rimerman Advisors LLC Buys 1,859 Shares of Broadcom Inc. $AVGO

Frank Rimerman Advisors LLC boosted its stake in Broadcom Inc. (NASDAQ:AVGO) by 2.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 82,732 shares of the semiconductor manufacturer’s stock after acquiring an additional 1,859 shares during the quarter. Broadcom accounts for 1.7% of Frank Rimerman Advisors LLC’s portfolio, making the stock its 12th largest position. Frank Rimerman Advisors LLC’s holdings in Broadcom were worth $25,606,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Fullerton Advisors LLC lifted its holdings in shares of Broadcom by 1.3% in the first quarter. Fullerton Advisors LLC now owns 1,989 shares of the semiconductor manufacturer’s stock valued at $616,000 after purchasing an additional 25 shares in the last quarter. NORTHSTAR ASSET MANAGEMENT Co lifted its stake in Broadcom by 0.5% in the 1st quarter. NORTHSTAR ASSET MANAGEMENT Co now owns 5,350 shares of the semiconductor manufacturer’s stock valued at $1,656,000 after acquiring an additional 25 shares in the last quarter. RFG Holdings Inc. boosted its position in Broadcom by 0.3% during the 1st quarter. RFG Holdings Inc. now owns 8,499 shares of the semiconductor manufacturer’s stock worth $2,631,000 after acquiring an additional 26 shares during the last quarter. Baring Financial LLC grew its stake in shares of Broadcom by 2.2% during the 4th quarter. Baring Financial LLC now owns 1,359 shares of the semiconductor manufacturer’s stock worth $470,000 after acquiring an additional 29 shares in the last quarter. Finally, Five Oceans Advisors raised its holdings in shares of Broadcom by 0.4% in the fourth quarter. Five Oceans Advisors now owns 8,191 shares of the semiconductor manufacturer’s stock valued at $2,835,000 after purchasing an additional 29 shares during the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Erste Group Bank restated a “hold” rating on shares of Broadcom in a report on Tuesday, July 7th. Mizuho increased their price objective on shares of Broadcom from $480.00 to $530.00 and gave the stock an “outperform” rating in a research note on Thursday, June 4th. Citigroup reaffirmed a “buy” rating on shares of Broadcom in a research report on Thursday, June 4th. Wall Street Zen upgraded Broadcom from a “buy” rating to a “strong-buy” rating in a report on Wednesday, July 1st. Finally, Truist Financial raised their price target on Broadcom from $545.00 to $550.00 and gave the company a “buy” rating in a research note on Thursday, June 4th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $493.24.

Broadcom Stock Performance

Shares of AVGO traded down $1.14 during midday 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 firm has a market cap 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 firm has a 50 day simple moving average of $405.29 and a 200-day simple moving average of $364.13. Broadcom Inc. has a one year low of $269.58 and a one 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 issued its earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to the consensus estimate of $22.13 billion. During the same period last year, the business posted $1.58 EPS. Broadcom’s revenue was up 47.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Broadcom Inc. will post 10.24 EPS for the current year.

Broadcom Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 22nd were given a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Monday, June 22nd. Broadcom’s dividend payout ratio (DPR) is presently 43.33%.

Insiders Place Their Bets

In other Broadcom news, insider Mark David Brazeal sold 25,000 shares of Broadcom 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 completion of the transaction, the insider directly owned 219,989 shares of the company’s stock, valued at $83,417,628.91. The trade was a 10.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Gayla J. Delly sold 1,890 shares of the stock in a transaction dated Wednesday, July 8th. The shares were sold at an average price of $385.38, for a total transaction of $728,368.20. Following the completion of the transaction, the director directly owned 31,326 shares in the company, valued at $12,072,413.88. The trade was a 5.69% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 36,644 shares of company stock valued at $13,982,964. 1.90% of the stock is owned by insiders.

Key Headlines Impacting Broadcom

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 Company 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.