Broadcom Inc. $AVGO Shares Bought by BIT Capital GmbH

BIT Capital GmbH grew its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 199.1% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 38,485 shares of the semiconductor manufacturer’s stock after acquiring an additional 25,620 shares during the quarter. BIT Capital GmbH’s holdings in Broadcom were worth $13,320,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Brown Brothers Harriman & Co. lifted its holdings in Broadcom by 10.7% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 77,411 shares of the semiconductor manufacturer’s stock valued at $25,539,000 after acquiring an additional 7,499 shares during the last quarter. Dana Investment Advisors Inc. grew its stake in shares of Broadcom by 2.6% in the 3rd quarter. Dana Investment Advisors Inc. now owns 173,759 shares of the semiconductor manufacturer’s stock worth $57,325,000 after purchasing an additional 4,442 shares during the last quarter. Guinness Atkinson Asset Management Inc grew its stake in shares of Broadcom by 248.2% in the 3rd quarter. Guinness Atkinson Asset Management Inc now owns 26,238 shares of the semiconductor manufacturer’s stock worth $8,603,000 after purchasing an additional 18,703 shares during the last quarter. Sovran Advisors LLC grew its stake in shares of Broadcom by 121.3% in the 4th quarter. Sovran Advisors LLC now owns 30,631 shares of the semiconductor manufacturer’s stock worth $10,507,000 after purchasing an additional 16,789 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. grew its stake in shares of Broadcom by 406.1% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 11,994 shares of the semiconductor manufacturer’s stock worth $4,151,000 after purchasing an additional 9,624 shares during the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insiders Place Their Bets

In other news, insider Charlie B. Kawwas sold 39,116 shares of Broadcom stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $321.61, for a total transaction of $12,580,096.76. Following the transaction, the insider owned 74,626 shares in the company, valued at approximately $24,000,467.86. The trade was a 34.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Mark David Brazeal sold 50,488 shares of Broadcom stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $321.60, for a total value of $16,236,940.80. Following the transaction, the insider owned 278,141 shares in the company, valued at $89,450,145.60. This represents a 15.36% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 324,282 shares of company stock worth $106,425,249. 1.90% of the stock is owned by corporate insiders.

Broadcom Stock Up 2.8%

Shares of Broadcom stock opened at $396.60 on Tuesday. The stock’s fifty day moving average is $397.96 and its 200-day moving average is $362.43. The firm has a market capitalization of $1.88 trillion, a PE ratio of 66.10, a price-to-earnings-growth ratio of 0.70 and a beta of 1.41. The company has a quick ratio of 2.01, a current ratio of 2.24 and a debt-to-equity ratio of 0.71. Broadcom Inc. has a 12-month low of $241.11 and a 12-month high of $495.00.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share for the quarter, beating analysts’ consensus estimates of $2.40 by $0.04. Broadcom had a return on equity of 41.61% and a net margin of 38.85%.The business had revenue of $22.19 billion for the quarter, compared to the consensus estimate of $22.13 billion. During the same quarter in the previous year, the company posted $1.58 earnings per share. Broadcom’s revenue for the quarter was up 47.9% compared to the same quarter last year. Equities analysts anticipate that Broadcom Inc. will post 9.97 earnings per share for the current year.

Broadcom Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 22nd will be issued a dividend of $0.65 per share. The ex-dividend date is Monday, June 22nd. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.7%. Broadcom’s payout ratio is currently 43.33%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on AVGO shares. Rosenblatt Securities reaffirmed a “buy” rating and issued a $500.00 price objective on shares of Broadcom in a research note on Thursday, June 4th. Susquehanna reaffirmed 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. Zacks Research cut shares of Broadcom from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 21st. Seaport Research Partners reaffirmed a “neutral” rating on shares of Broadcom in a research note on Wednesday, April 8th. Finally, Weiss Ratings raised Broadcom from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, May 27th. One analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $490.13.

Key Broadcom News

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom announced expanded security investments for the Spring and Java ecosystem, aiming to help enterprise customers defend against AI-enabled threats and reinforcing its software strategy. Broadcom Expands Its Investment in Spring and Java Ecosystem Security to Prepare Customers for AI-Enabled Threats
• Positive Sentiment: Several analysts and market commentators said the recent post-earnings decline may be exaggerated, arguing that Broadcom’s strong revenue growth and AI momentum still support the long-term story. Jim Cramer on Broadcom: “The Disappointing Earnings May Not Be as Crushing as We Think”
• Positive Sentiment: Wall Street sentiment remains constructive, with Bank of America raising its price target on Broadcom to $530 from $450 while keeping a Buy rating after the latest quarterly results and guidance. Is Broadcom (AVGO) the Best Stock in Chase Coleman’s Tiger Global?

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.