Broadcom Inc. $AVGO Stock Position Lowered by DSM Capital Partners LLC

DSM Capital Partners LLC reduced its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 3.6% during the 1st quarter, HoldingsChannel reports. The firm owned 1,615,114 shares of the semiconductor manufacturer’s stock after selling 61,053 shares during the period. Broadcom comprises about 8.8% of DSM Capital Partners LLC’s investment portfolio, making the stock its 4th largest holding. DSM Capital Partners LLC’s holdings in Broadcom were worth $499,894,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

Several research firms have commented on AVGO. Oppenheimer reiterated an “outperform” rating and set a $535.00 price objective (up from $450.00) on shares of Broadcom in a research note on Thursday, June 4th. UBS Group set a $485.00 price objective on Broadcom and gave the stock a “buy” rating in a research report on Thursday, June 4th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $515.00 target price (up from $430.00) on shares of Broadcom in a research note on Thursday, June 4th. Royal Bank Of Canada increased their target price on Broadcom from $360.00 to $400.00 and gave the stock a “sector perform” rating in a research note on Thursday, June 4th. Finally, Seaport Research Partners reaffirmed a “neutral” rating on shares of Broadcom in a research report on Wednesday, April 8th. One 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. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $493.24.

Insider Transactions at Broadcom

In related news, Director Justine Page sold 1,602 shares of the company’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 sale, the director owned 17,426 shares in the company, valued at $6,514,884.36. This represents a 8.42% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Gayla J. Delly sold 1,890 shares of the firm’s stock in a transaction that occurred on Wednesday, July 8th. The shares were sold at an average price of $385.38, for a total value of $728,368.20. Following the completion of the transaction, the director directly owned 31,326 shares of the company’s stock, 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. Insiders sold 36,644 shares of company stock worth $13,982,964 over the last quarter. Insiders own 1.90% of the company’s stock.

Broadcom Price Performance

Shares of NASDAQ AVGO opened at $399.97 on Monday. The company 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 stock has a fifty day moving average price of $405.29 and a 200 day moving average price of $364.28. 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 Inc. has a 1-year low of $269.58 and a 1-year high of $495.00.

Broadcom (NASDAQ:AVGO) last posted 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 firm had revenue of $22.19 billion during the quarter, compared to analysts’ expectations of $22.13 billion. During the same period in the prior year, the company posted $1.58 earnings per share. The firm’s revenue for the quarter was up 47.9% on a year-over-year basis. Sell-side analysts forecast that Broadcom Inc. will post 10.24 EPS for the current year.

Broadcom Dividend Announcement

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

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.