Advisors Management Group Inc. ADV Decreases Position in Broadcom Inc. $AVGO

Advisors Management Group Inc. ADV lessened its stake in Broadcom Inc. (NASDAQ:AVGO) by 21.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 10,601 shares of the semiconductor manufacturer’s stock after selling 2,879 shares during the quarter. Advisors Management Group Inc. ADV’s holdings in Broadcom were worth $3,281,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. ROSS JOHNSON & Associates LLC lifted its position in shares of 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 during the last quarter. Networth Advisors LLC raised its stake in Broadcom by 546.2% in the 1st quarter. Networth Advisors LLC now owns 84 shares of the semiconductor manufacturer’s stock valued at $26,000 after acquiring an additional 71 shares during the period. SWAN Capital LLC lifted its holdings in Broadcom by 261.9% during the fourth quarter. SWAN Capital LLC now owns 76 shares of the semiconductor manufacturer’s stock valued at $26,000 after purchasing an additional 55 shares during the last quarter. Miller Global Investments LLC bought a new position in Broadcom during the fourth quarter worth about $31,000. Finally, Nvest Wealth Strategies Inc. bought a new position in Broadcom during the fourth quarter worth about $33,000. 76.43% of the stock is owned by institutional investors.

Key Stories Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Evercore ISI said Broadcom’s multiyear agreement with Apple is strategically positive, as it strengthens Apple’s AI compute silicon efforts and extends Broadcom’s role as a key custom-chip partner. Broadcom Inc. (AVGO) Agreement a Strategic Positive for Apple, says Evercore ISI
• Positive Sentiment: Reports say Broadcom secured its role as a key Apple supplier through 2031, giving investors more confidence in a long-duration revenue stream. Broadcom Inc. (AVGO) Secures Role as Key Apple Supplier with Chip Deal through 2031
• Positive Sentiment: Morgan Stanley described Broadcom as a “core AI winner,” keeping the stock in focus as one of the main beneficiaries of AI infrastructure spending. Broadcom is a ‘core AI winner,’ even as MediaTek encroaches, Morgan Stanley says
• Neutral Sentiment: Additional commentary highlighted Broadcom as a major AI stock and a possible outperformer versus other chip names, which adds to the bullish narrative but does not change the near-term business outlook directly. Is Broadcom Inc. (AVGO) a Buy as Wall Street Analysts Look Optimistic?
• Negative Sentiment: There was also an insider-selling headline, which can weigh on sentiment even if it does not necessarily reflect a change in the company’s fundamentals. Insider Selling: Broadcom (NASDAQ:AVGO) Insider Sells $9,479,750.00 in Stock

Broadcom Trading Up 1.3%

Broadcom stock opened at $389.11 on Wednesday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.01 and a current ratio of 2.24. Broadcom Inc. has a fifty-two week low of $273.00 and a fifty-two week high of $495.00. The stock has a market cap of $1.85 trillion, a P/E ratio of 64.85, a PEG ratio of 0.67 and a beta of 1.45. The firm’s fifty day moving average price is $403.86 and its 200-day moving average price is $364.80.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data 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 company had revenue of $22.19 billion during the quarter, compared to analyst estimates of $22.13 billion. During the same quarter last year, the company earned $1.58 earnings per share. The firm’s quarterly revenue was up 47.9% on a year-over-year basis. Equities research analysts forecast that Broadcom Inc. will post 10.24 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The firm 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 43.33%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on AVGO shares. Benchmark boosted their price target on shares of Broadcom from $485.00 to $545.00 and gave the company a “buy” rating in a research report on Thursday, June 4th. Truist Financial raised their price objective on shares of Broadcom from $545.00 to $550.00 and gave the stock a “buy” rating in a report on Thursday, June 4th. Bank of America lifted their price objective on shares of Broadcom from $450.00 to $530.00 and gave the company a “buy” rating in a research note on Thursday, June 4th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $515.00 target price (up from $430.00) on shares of Broadcom in a report on Thursday, June 4th. Finally, Citigroup restated a “buy” rating on shares of Broadcom in a research report on Thursday, June 4th. One research analyst has rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, Broadcom currently has an average rating of “Moderate Buy” and a consensus price target of $493.24.

Insiders Place Their Bets

In other Broadcom news, Director Harry L. You acquired 1,000 shares of the business’s stock in a transaction dated Thursday, June 11th. The stock was bought at an average price of $373.57 per share, with a total value of $373,570.00. Following the completion of the acquisition, the director owned 38,466 shares of the company’s stock, valued at $14,369,743.62. This trade represents a 2.67% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Gayla J. Delly sold 1,890 shares of the company’s stock in a transaction that occurred on Wednesday, July 8th. The stock was sold at an average price of $385.38, for a total transaction of $728,368.20. Following the completion of the transaction, the director owned 31,326 shares in the company, valued at approximately $12,072,413.88. This trade represents a 5.69% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 61,644 shares of company stock worth $24,016,214. Insiders own 1.90% of the company’s stock.

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.