Candriam S.C.A. Sells 14,837 Shares of Broadcom Inc. $AVGO

Candriam S.C.A. lessened its holdings in Broadcom Inc. (NASDAQ:AVGO) by 1.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,418,532 shares of the semiconductor manufacturer’s stock after selling 14,837 shares during the quarter. Broadcom accounts for approximately 2.3% of Candriam S.C.A.’s holdings, making the stock its 6th biggest holding. Candriam S.C.A.’s holdings in Broadcom were worth $439,050,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the stock. ROSS JOHNSON & Associates LLC grew its stake in Broadcom by 1,320.0% during the fourth quarter. ROSS JOHNSON & Associates LLC now owns 71 shares of the semiconductor manufacturer’s stock worth $25,000 after buying an additional 66 shares during the last quarter. Networth Advisors LLC boosted its position 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 buying an additional 71 shares during the last quarter. SWAN Capital LLC increased its position in 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 purchasing an additional 55 shares during the period. Miller Global Investments LLC acquired a new stake in shares of Broadcom during the 4th quarter worth approximately $31,000. Finally, Nvest Wealth Strategies Inc. acquired a new stake in Broadcom during the 4th quarter worth $33,000. 76.43% of the stock is owned by institutional investors and hedge funds.

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

Wall Street Analysts Forecast Growth

AVGO has been the subject of several recent analyst reports. Rosenblatt Securities reaffirmed a “buy” rating and issued a $500.00 target price on shares of Broadcom in a research note on Thursday, June 4th. Weiss Ratings lowered Broadcom from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, June 26th. TD Cowen reiterated a “buy” rating and issued a $500.00 price target on shares of Broadcom in a research note on Thursday, June 4th. Jefferies Financial Group set a $550.00 price objective on Broadcom and gave the stock a “buy” rating in a research note on Thursday, June 4th. Finally, Royal Bank Of Canada upped their target price on shares of Broadcom from $360.00 to $400.00 and gave the company a “sector perform” rating in a report on Thursday, June 4th. One investment 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. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $493.24.

Insider Buying and Selling at Broadcom

In other Broadcom news, insider Mark David Brazeal sold 25,000 shares of Broadcom stock in a transaction dated Friday, July 10th. The stock was sold at an average price of $401.33, for a total transaction of $10,033,250.00. Following the completion of the transaction, the insider owned 194,989 shares in the company, valued at approximately $78,254,935.37. The trade was a 11.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Justine Page sold 1,602 shares of Broadcom stock in a transaction on Monday, June 29th. The stock was sold at an average price of $373.86, for a total transaction of $598,923.72. Following the transaction, the director directly owned 17,426 shares in the company, valued at $6,514,884.36. This represents a 8.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 61,644 shares of company stock valued at $24,016,214 over the last ninety days. 1.90% of the stock is currently owned by corporate insiders.

Broadcom Trading Up 1.3%

Shares of Broadcom stock opened at $389.11 on Wednesday. The firm’s 50 day moving average is $403.86 and its 200 day moving average is $364.80. The firm has a market capitalization of $1.85 trillion, a PE ratio of 64.85, a price-to-earnings-growth ratio of 0.67 and a beta of 1.45. Broadcom Inc. has a 1 year low of $273.00 and a 1 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 quarterly earnings data 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. 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 analyst estimates of $22.13 billion. During the same quarter last year, the business earned $1.58 EPS. 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 Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 22nd were issued 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 was Monday, June 22nd. Broadcom’s dividend payout ratio (DPR) is currently 43.33%.

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.