Angeles Wealth Management LLC Buys 3,607 Shares of Broadcom Inc. $AVGO

Angeles Wealth Management LLC raised its stake in Broadcom Inc. (NASDAQ:AVGO) by 9.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 42,884 shares of the semiconductor manufacturer’s stock after purchasing an additional 3,607 shares during the period. Broadcom accounts for approximately 0.7% of Angeles Wealth Management LLC’s investment portfolio, making the stock its 24th largest holding. Angeles Wealth Management LLC’s holdings in Broadcom were worth $13,273,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. AXS Investments LLC grew its stake in shares of Broadcom by 59.0% during the first quarter. AXS Investments LLC now owns 6,834 shares of the semiconductor manufacturer’s stock worth $2,115,000 after acquiring an additional 2,535 shares during the last quarter. Brown Shipley& Co Ltd purchased a new position in shares of Broadcom in the 1st quarter valued at approximately $2,081,000. Financiere des Professionnels Fonds d investissement inc. boosted its stake in Broadcom by 206.9% in the 1st quarter. Financiere des Professionnels Fonds d investissement inc. now owns 76,310 shares of the semiconductor manufacturer’s stock worth $23,619,000 after purchasing an additional 51,445 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in Broadcom by 3.8% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,743,844 shares of the semiconductor manufacturer’s stock worth $860,168,000 after purchasing an additional 99,386 shares in the last quarter. Finally, Oder Investment Management LLC grew its position in Broadcom by 2.5% during the 1st quarter. Oder Investment Management LLC now owns 3,213 shares of the semiconductor manufacturer’s stock worth $994,000 after purchasing an additional 77 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors.

Broadcom Trading Up 2.0%

NASDAQ AVGO opened at $378.16 on Tuesday. The company has a market capitalization of $1.80 trillion, a PE ratio of 63.03, a P/E/G ratio of 0.65 and a beta of 1.45. The company has a fifty day moving average of $400.28 and a 200 day moving average of $365.62. Broadcom Inc. has a 1 year low of $273.00 and a 1 year high of $495.00. 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 (NASDAQ:AVGO) last announced its quarterly earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share for the quarter, topping the consensus estimate of $2.40 by $0.04. The company had revenue of $22.19 billion for the quarter, compared to the consensus estimate of $22.13 billion. Broadcom had a return on equity of 41.61% and a net margin of 38.85%.The firm’s revenue for the quarter was up 47.9% compared to the same quarter last year. During the same period last year, the firm earned $1.58 EPS. Research analysts forecast that Broadcom Inc. will post 10.24 earnings per share for the current year.

Broadcom Announces Dividend

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

Insider Activity

In other news, Director Harry L. You purchased 1,000 shares of the company’s stock in a transaction that occurred on Thursday, June 11th. The shares were bought at an average price of $373.57 per share, for a total transaction of $373,570.00. Following the completion of the transaction, the director owned 38,466 shares in the company, valued at $14,369,743.62. This represents a 2.67% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Gayla J. Delly sold 1,890 shares of the firm’s stock in a transaction on Wednesday, July 8th. The shares were sold at an average price of $385.38, for a total transaction of $728,368.20. Following the sale, 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 61,644 shares of company stock valued at $24,016,214 in the last quarter. Company insiders own 1.90% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on AVGO shares. Mizuho upped their price target on shares of Broadcom from $480.00 to $530.00 and gave the company an “outperform” rating in a research note on Thursday, June 4th. Morgan Stanley set a $502.00 price objective on shares of Broadcom and gave the company an “overweight” rating in a report on Thursday, June 4th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $515.00 target price (up from $430.00) on shares of Broadcom in a research report on Thursday, June 4th. Truist Financial raised their target price on Broadcom from $545.00 to $550.00 and gave the stock a “buy” rating in a research note on Thursday, June 4th. Finally, Zacks Research cut Broadcom from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 21st. One equities 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. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $493.24.

Key Stories Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Morgan Stanley said Broadcom remains one of its preferred ways to play the AI infrastructure buildout, calling AVGO an attractive risk-reward name after the recent semiconductor pullback. Broadcom stock gains 2% today: here’s why
• Positive Sentiment: Analysts and market commentary highlighted Broadcom as a high-cash-flow AI chip stock that could benefit as investors look for quality names amid market volatility. 4 High Cash-Producing AI Chip Stocks to Buy Amid Market Uncertainties
• Positive Sentiment: Broadcom’s AI business is being viewed as a key driver of the investment case, with reports noting strong AI chip revenue growth and a larger shift toward AI-related mix. AMD vs. Broadcom: The Better AI-Chip Stock to Buy After the Sell-Off
• Positive Sentiment: Broadcom also announced a major infrastructure software deal with Standard Chartered to modernize banking cloud operations across 54 markets, which supports its VMware-based software revenue stream. Broadcom (AVGO) Lands Standard Chartered Deal To Power Banking Cloud In 54 Markets
• Neutral Sentiment: Broadcom was included in broader “buy the dip” chip-sector commentary as investors looked for value after the recent memory and AI semiconductor sell-off. The Memory Stock Sell-Off Created a ‘Strong Entry Point,’ Says Morgan Stanley. Investors Are Buying In.
• Negative Sentiment: Recent articles also noted that semiconductor stocks had fallen into a bear market after a sharp index decline, reflecting ongoing sectorwide pressure that could cap gains for AVGO. Semiconductor stocks enter bear market: Is bubble burst next?

About Broadcom

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.