Ibex Wealth Advisors Trims Stock Position in Broadcom Inc. $AVGO

Ibex Wealth Advisors reduced its holdings in Broadcom Inc. (NASDAQ:AVGO) by 13.1% in the 1st quarter, Holdings Channel reports. The fund owned 146,252 shares of the semiconductor manufacturer’s stock after selling 22,002 shares during the quarter. Broadcom accounts for 4.2% of Ibex Wealth Advisors’ portfolio, making the stock its 2nd biggest position. Ibex Wealth Advisors’ holdings in Broadcom were worth $45,266,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Sovran Advisors LLC grew its holdings in shares of Broadcom by 121.3% during the fourth quarter. Sovran Advisors LLC now owns 30,631 shares of the semiconductor manufacturer’s stock worth $10,507,000 after buying an additional 16,789 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its position in Broadcom by 406.1% during 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 during the last quarter. Aspiriant LLC boosted its position in Broadcom by 18.5% during 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 during the last quarter. World Investment Advisors grew its stake in shares of 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 in the last quarter. Finally, Western Financial Corp CA raised its holdings in shares of Broadcom by 90.5% in the fourth quarter. Western Financial Corp CA now owns 6,481 shares of the semiconductor manufacturer’s stock valued at $2,243,000 after purchasing an additional 3,079 shares during the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

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

Insider Activity at Broadcom

In related news, Director Gayla J. Delly sold 1,890 shares of the company’s stock in a transaction dated Wednesday, July 8th. The shares were sold at an average price of $385.38, for a total value of $728,368.20. Following the transaction, the director owned 31,326 shares in the company, valued at approximately $12,072,413.88. This represents a 5.69% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Harry L. You acquired 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, with a total value of $373,570.00. Following the completion of the transaction, the director directly owned 38,466 shares of the company’s stock, valued at approximately $14,369,743.62. The trade was a 2.67% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders sold 36,644 shares of company stock worth $13,982,964. 1.90% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on AVGO. Jefferies Financial Group set a $550.00 target price on shares of Broadcom and gave the company a “buy” rating in a research report on Thursday, June 4th. Oppenheimer restated an “outperform” rating and issued a $535.00 price objective (up from $450.00) on shares of Broadcom in a report on Thursday, June 4th. Wells Fargo & Company reiterated an “overweight” rating and set a $545.00 target price (up from $430.00) on shares of Broadcom in a report on Thursday, May 14th. UBS Group set a $485.00 price target on Broadcom and gave the company a “buy” rating in a research report on Thursday, June 4th. Finally, Bank of America boosted their price target on Broadcom from $450.00 to $530.00 and gave the stock a “buy” 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 assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $493.24.

Broadcom Stock Performance

AVGO opened at $399.97 on Monday. The company has a quick ratio of 2.01, a current ratio of 2.24 and a debt-to-equity ratio of 0.71. Broadcom Inc. has a 12-month low of $269.58 and a 12-month high of $495.00. The business has a 50 day moving average of $405.29 and a 200-day moving average of $364.28. The stock has a market cap of $1.90 trillion, a price-to-earnings ratio of 66.66, a PEG ratio of 0.70 and a beta of 1.45.

Broadcom (NASDAQ:AVGO) last announced its quarterly 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 return on equity of 41.61% and a net margin of 38.85%.The business had revenue of $22.19 billion during the quarter, compared to the consensus estimate of $22.13 billion. During the same quarter last year, the firm posted $1.58 EPS. The company’s quarterly revenue was up 47.9% on a year-over-year basis. On average, equities research analysts expect that Broadcom Inc. will post 10.24 earnings per share for the current year.

Broadcom Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 22nd were issued 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 dividend yield of 0.7%. Broadcom’s payout ratio is presently 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.