BI Asset Management Fondsmaeglerselskab A S Boosts Stake in Broadcom Inc. $AVGO

BI Asset Management Fondsmaeglerselskab A S raised its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 27.4% during the fourth quarter, HoldingsChannel reports. The fund owned 907,200 shares of the semiconductor manufacturer’s stock after purchasing an additional 195,268 shares during the quarter. Broadcom comprises about 2.7% of BI Asset Management Fondsmaeglerselskab A S’s investment portfolio, making the stock its 6th biggest holding. BI Asset Management Fondsmaeglerselskab A S’s holdings in Broadcom were worth $311,407,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Brown Brothers Harriman & Co. grew its position in Broadcom by 10.7% in the third quarter. Brown Brothers Harriman & Co. now owns 77,411 shares of the semiconductor manufacturer’s stock worth $25,539,000 after acquiring an additional 7,499 shares in the last quarter. Dana Investment Advisors Inc. raised its stake in shares of Broadcom by 2.6% during the third quarter. Dana Investment Advisors Inc. now owns 173,759 shares of the semiconductor manufacturer’s stock valued at $57,325,000 after acquiring an additional 4,442 shares during the last quarter. Guinness Atkinson Asset Management Inc raised its stake in Broadcom by 248.2% in the third quarter. Guinness Atkinson Asset Management Inc now owns 26,238 shares of the semiconductor manufacturer’s stock worth $8,603,000 after buying an additional 18,703 shares in the last quarter. Sovran Advisors LLC raised its stake in Broadcom by 121.3% in the fourth quarter. Sovran Advisors LLC now owns 30,631 shares of the semiconductor manufacturer’s stock worth $10,507,000 after buying an additional 16,789 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. raised its stake in Broadcom by 406.1% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 11,994 shares of the semiconductor manufacturer’s stock worth $4,151,000 after buying an additional 9,624 shares in the last quarter. Institutional investors own 76.43% of the company’s stock.

Insider Buying and Selling

In other news, Director Justine Page sold 2,018 shares of the company’s stock in a transaction that occurred on Wednesday, April 8th. The shares were sold at an average price of $353.00, for a total value of $712,354.00. Following the completion of the sale, the director owned 18,164 shares of the company’s stock, valued at approximately $6,411,892. This represents a 10.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gayla J. Delly sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, April 9th. The stock was sold at an average price of $358.31, for a total transaction of $358,310.00. Following the completion of the sale, the director directly owned 32,352 shares of the company’s stock, valued at $11,592,045.12. The trade was a 3.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 324,282 shares of company stock worth $106,425,249 over the last 90 days. Corporate insiders own 1.90% of the company’s stock.

Broadcom News Roundup

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?

Broadcom Stock Up 2.8%

Shares of NASDAQ AVGO opened at $396.60 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. The company has a market cap of $1.88 trillion, a P/E ratio of 66.10, a PEG ratio of 0.70 and a beta of 1.41. Broadcom Inc. has a 1 year low of $241.11 and a 1 year high of $495.00. The firm has a 50-day simple moving average of $397.96 and a two-hundred day simple moving average of $362.43.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.40 by $0.04. The company 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 firm’s quarterly revenue was up 47.9% on a year-over-year basis. During the same period in the previous year, the company earned $1.58 EPS. Research analysts anticipate that Broadcom Inc. will post 9.97 earnings per share for the current year.

Broadcom Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Zacks Research downgraded shares of Broadcom from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 21st. DA Davidson lifted their target price on shares of Broadcom from $375.00 to $400.00 and gave the stock a “neutral” rating in a research report on Thursday, June 4th. Morgan Stanley set a $502.00 target price on shares of Broadcom and gave the stock an “overweight” rating in a research report on Thursday. Seaport Research Partners reiterated a “neutral” rating on shares of Broadcom in a research note on Wednesday, April 8th. Finally, Rosenblatt Securities restated a “buy” rating and set a $500.00 price objective on shares of Broadcom in a research report on Thursday, June 4th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $490.13.

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.