Geneos Wealth Management Inc. Sells 4,280 Shares of Broadcom Inc. $AVGO

Geneos Wealth Management Inc. reduced its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 7.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 51,899 shares of the semiconductor manufacturer’s stock after selling 4,280 shares during the quarter. Geneos Wealth Management Inc.’s holdings in Broadcom were worth $16,063,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Norges Bank bought a new position in shares of Broadcom during the 4th quarter worth about $24,252,196,000. Cardano Risk Management B.V. lifted its stake in shares of Broadcom by 895.2% in the fourth quarter. Cardano Risk Management B.V. now owns 12,689,800 shares of the semiconductor manufacturer’s stock valued at $4,391,940,000 after buying an additional 11,414,701 shares during the period. State Street Corp lifted its stake in shares of Broadcom by 2.7% in the fourth quarter. State Street Corp now owns 190,084,351 shares of the semiconductor manufacturer’s stock valued at $65,788,194,000 after buying an additional 5,040,801 shares during the period. Vanguard Group Inc. grew its position in Broadcom by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 482,707,302 shares of the semiconductor manufacturer’s stock worth $167,064,997,000 after buying an additional 3,919,715 shares in the last quarter. Finally, Nordea Investment Management AB grew its position in Broadcom by 47.5% during the fourth quarter. Nordea Investment Management AB now owns 9,814,757 shares of the semiconductor manufacturer’s stock worth $3,406,211,000 after buying an additional 3,160,586 shares in the last quarter. 76.43% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on AVGO shares. Royal Bank Of Canada upped their price target on Broadcom from $360.00 to $400.00 and gave the company a “sector perform” rating in a report on Thursday, June 4th. JPMorgan Chase & Co. lifted their price objective on Broadcom from $500.00 to $580.00 and gave the stock an “overweight” rating in a report on Thursday, June 4th. The Goldman Sachs Group reissued a “buy” rating and set a $525.00 price objective on shares of Broadcom in a report on Thursday, June 4th. Zacks Research cut Broadcom from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 21st. Finally, Dbs Bank upgraded Broadcom to a “moderate buy” rating in a research note on Thursday, June 18th. One investment analyst has rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $493.24.

Broadcom Stock Performance

NASDAQ:AVGO opened at $370.83 on Friday. Broadcom Inc. has a 12-month low of $273.00 and a 12-month high of $495.00. The company has a quick ratio of 2.01, a current ratio of 2.24 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $1.76 trillion, a PE ratio of 61.81, a price-to-earnings-growth ratio of 0.65 and a beta of 1.45. The firm has a 50-day moving average price of $401.29 and a 200 day moving average price of $365.31.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 EPS for the quarter, topping analysts’ consensus estimates of $2.40 by $0.04. The firm had revenue of $22.19 billion during the quarter, compared to analysts’ expectations of $22.13 billion. Broadcom had a net margin of 38.85% and a return on equity of 41.61%. The company’s revenue for the quarter was up 47.9% compared to the same quarter last year. During the same quarter last year, the company earned $1.58 earnings per share. Research analysts anticipate that Broadcom Inc. will post 10.24 earnings per share for the current fiscal 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 given a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Monday, June 22nd. Broadcom’s dividend payout ratio (DPR) is 43.33%.

Key Broadcom News

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Standard Chartered chose Broadcom to support a long-term modernization of its global banking infrastructure, underscoring Broadcom’s role in secure private-cloud and enterprise networking solutions. Standard Chartered Selects Broadcom to Deliver Secure, Always-On Banking Services at Global Scale
• Positive Sentiment: Wall Street commentary continues to describe Broadcom as a core AI beneficiary, and some analysts have raised price targets even after the stock pullback. As Shares Fall, Analyst Are Boosting Their Broadcom Price Targets
• Neutral Sentiment: Broadcom remains a major talking point in AI-focused market coverage, with some investors viewing it as an indicator for the broader market and semiconductor cycle. Jim Cramer Says Broadcom Will Tell You When the Market Is About to Turn
• Negative Sentiment: Broadcom is facing renewed skepticism around valuation, with one report asking whether the AI story has made the stock too expensive. Has Broadcom Become Too Expensive for Its AI Story?
• Negative Sentiment: The stock is also being hit by a broader selloff in semiconductor names as investors rotate away from AI-capex winners and worry about a slowdown in chip spending. Marvell Drops 8% as AI Capex Slowdown Fears Weigh on Chips; Broadcom, AMD, and Intel Slide
• Negative Sentiment: Broadcom is also dealing with regulatory uncertainty after reports said it faces an EU antitrust review tied to VMware licensing changes. Broadcom (AVGO) Faces EU Antitrust Review Over VMware Licensing Changes

Insider Buying and Selling

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

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.