Brown Shipley& Co Ltd Buys New Shares in Broadcom Inc. $AVGO

Brown Shipley& Co Ltd bought a new position in shares of Broadcom Inc. (NASDAQ:AVGO) during the 1st quarter, HoldingsChannel.com reports. The fund bought 6,723 shares of the semiconductor manufacturer’s stock, valued at approximately $2,081,000. Broadcom comprises approximately 1.2% of Brown Shipley& Co Ltd’s portfolio, making the stock its 22nd largest position.

A number of other large investors have also bought and sold shares of the stock. Financiere des Professionnels Fonds d investissement inc. increased its stake in Broadcom by 206.9% in the first quarter. Financiere des Professionnels Fonds d investissement inc. now owns 76,310 shares of the semiconductor manufacturer’s stock valued at $23,619,000 after purchasing an additional 51,445 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of Broadcom by 3.8% during 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. Oder Investment Management LLC boosted its position in shares of 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 in the last quarter. One Day In July LLC grew its stake in shares of Broadcom by 6.0% in the 1st quarter. One Day In July LLC now owns 2,312 shares of the semiconductor manufacturer’s stock valued at $716,000 after buying an additional 131 shares during the period. Finally, Independent Financial Group LLC acquired a new stake in shares of Broadcom in the 1st quarter valued at about $43,376,000. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Trending Headlines about 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?

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Wall Street Zen downgraded Broadcom from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Susquehanna reissued a “positive” rating and issued a $490.00 price objective (up from $450.00) on shares of Broadcom in a research note on Thursday, May 28th. Mizuho boosted their price objective on Broadcom from $480.00 to $530.00 and gave the company an “outperform” rating in a report on Thursday, June 4th. Truist Financial upped their target price on Broadcom from $545.00 to $550.00 and gave the stock a “buy” rating in a research report on Thursday, June 4th. Finally, Seaport Research Partners reiterated a “neutral” rating on shares of Broadcom in a report on Wednesday, April 8th. One analyst has rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $493.24.

Broadcom Trading Up 2.0%

AVGO opened at $378.16 on Tuesday. 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 Inc. has a fifty-two week low of $273.00 and a fifty-two week high of $495.00. The firm 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’s 50-day moving average is $400.28 and its 200 day moving average is $365.62.

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, beating the consensus estimate of $2.40 by $0.04. The business had revenue of $22.19 billion for 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 firm’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 EPS. As a group, research analysts predict that Broadcom Inc. will post 10.24 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders 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%.

Insider Buying and Selling

In related news, Director Gayla J. Delly sold 1,890 shares of the 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 completion of the sale, the director directly owned 31,326 shares of the company’s stock, valued at approximately $12,072,413.88. This represents a 5.69% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Mark David Brazeal sold 25,000 shares of the firm’s stock in a transaction on Friday, July 10th. The shares were sold at an average price of $401.33, for a total value of $10,033,250.00. Following the transaction, the insider owned 194,989 shares in the company, valued at approximately $78,254,935.37. This trade represents a 11.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 61,644 shares of company stock worth $24,016,214 over the last three months. Company 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.