Atlas Wealth LLC Makes New $33.05 Million Investment in Broadcom Inc. $AVGO

Atlas Wealth LLC purchased a new position in shares of Broadcom Inc. (NASDAQ:AVGO) in the first quarter, HoldingsChannel reports. The fund purchased 106,767 shares of the semiconductor manufacturer’s stock, valued at approximately $33,045,000. Broadcom makes up approximately 4.1% of Atlas Wealth LLC’s holdings, making the stock its 7th biggest position.

A number of other institutional investors have also modified their holdings of the company. Fullerton Advisors LLC boosted its position in Broadcom by 1.3% during the first quarter. Fullerton Advisors LLC now owns 1,989 shares of the semiconductor manufacturer’s stock worth $616,000 after acquiring an additional 25 shares during the last quarter. NORTHSTAR ASSET MANAGEMENT Co lifted its stake in shares of Broadcom by 0.5% during the 1st quarter. NORTHSTAR ASSET MANAGEMENT Co now owns 5,350 shares of the semiconductor manufacturer’s stock worth $1,656,000 after purchasing an additional 25 shares during the period. RFG Holdings Inc. lifted its stake in shares of Broadcom by 0.3% during the 1st quarter. RFG Holdings Inc. now owns 8,499 shares of the semiconductor manufacturer’s stock worth $2,631,000 after purchasing an additional 26 shares during the period. Yukon Wealth Management Inc. boosted its holdings in shares of Broadcom by 1.1% during the first quarter. Yukon Wealth Management Inc. now owns 2,501 shares of the semiconductor manufacturer’s stock worth $774,000 after purchasing an additional 26 shares during the last quarter. Finally, Capital Planning LLC boosted its holdings in shares of Broadcom by 0.7% during the first quarter. Capital Planning LLC now owns 4,044 shares of the semiconductor manufacturer’s stock worth $1,252,000 after purchasing an additional 28 shares during the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insider Activity

In other news, Director Harry L. You bought 1,000 shares of Broadcom stock in a transaction dated Thursday, June 11th. The shares were acquired at an average cost of $373.57 per share, with a total value of $373,570.00. Following the completion of the transaction, the director owned 38,466 shares in the company, valued at approximately $14,369,743.62. This trade represents a 2.67% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Justine Page sold 1,602 shares of the company’s stock in a transaction on Monday, June 29th. The shares were sold at an average price of $373.86, for a total transaction of $598,923.72. Following the completion of the transaction, the director owned 17,426 shares of the company’s stock, valued at $6,514,884.36. This trade represents a 8.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 61,644 shares of company stock worth $24,016,214. Company insiders own 1.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Citigroup reaffirmed a “buy” rating on shares of Broadcom in a research report on Thursday, June 4th. DA Davidson raised their price target on Broadcom from $375.00 to $400.00 and gave the stock a “neutral” rating in a research note on Thursday, June 4th. Erste Group Bank restated a “hold” rating on shares of Broadcom in a report on Tuesday, July 7th. UBS Group set a $485.00 price objective on shares of Broadcom and gave the company a “buy” rating in a research note on Thursday, June 4th. Finally, Weiss Ratings upgraded shares of Broadcom from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, July 15th. One analyst has rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $493.24.

Broadcom Trading Up 2.0%

Shares of AVGO opened at $378.16 on Tuesday. The stock’s 50-day moving average is $400.28 and its two-hundred day moving average is $365.62. The stock has a market cap of $1.80 trillion, a PE ratio of 63.03, a P/E/G ratio of 0.65 and a beta of 1.45. Broadcom Inc. has a 12 month low of $273.00 and a 12 month 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 posted its earnings results 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. The business had revenue of $22.19 billion during the quarter, compared to analyst estimates of $22.13 billion. Broadcom had a return on equity of 41.61% and a net margin of 38.85%.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 firm earned $1.58 earnings per share. Equities analysts forecast that Broadcom Inc. will post 10.24 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 22nd were given a $0.65 dividend. The ex-dividend date of this dividend was Monday, June 22nd. This represents a $2.60 annualized dividend and a yield of 0.7%. Broadcom’s dividend payout ratio (DPR) is 43.33%.

Key Broadcom News

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?

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.