Argonautica Private Wealth Management Inc. Sells 3,156 Shares of Broadcom Inc. $AVGO

Argonautica Private Wealth Management Inc. cut its holdings in Broadcom Inc. (NASDAQ:AVGO) by 7.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,907 shares of the semiconductor manufacturer’s stock after selling 3,156 shares during the period. Broadcom comprises about 3.8% of Argonautica Private Wealth Management Inc.’s holdings, making the stock its 5th largest position. Argonautica Private Wealth Management Inc.’s holdings in Broadcom were worth $13,119,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the business. OneAscent Financial Services LLC boosted its holdings in Broadcom by 17.9% in the 4th quarter. OneAscent Financial Services LLC now owns 6,478 shares of the semiconductor manufacturer’s stock valued at $2,242,000 after purchasing an additional 985 shares in the last quarter. OneAscent Family Office LLC raised its holdings in Broadcom by 29.3% during the fourth quarter. OneAscent Family Office LLC now owns 6,513 shares of the semiconductor manufacturer’s stock worth $2,254,000 after purchasing an additional 1,475 shares during the last quarter. Francis Financial Inc. boosted its position in Broadcom by 1.2% during the fourth quarter. Francis Financial Inc. now owns 3,198 shares of the semiconductor manufacturer’s stock worth $1,107,000 after purchasing an additional 39 shares in the last quarter. Formulate Financial LLC acquired a new stake in Broadcom in the fourth quarter valued at $320,000. Finally, BIT Capital GmbH raised its position in Broadcom by 199.1% during the fourth quarter. BIT Capital GmbH now owns 38,485 shares of the semiconductor manufacturer’s stock worth $13,320,000 after acquiring an additional 25,620 shares during the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

Broadcom Price Performance

AVGO opened at $396.60 on Tuesday. The company has a 50 day moving average of $397.96 and a two-hundred day moving average of $362.43. 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 52-week low of $241.11 and a 52-week high of $495.00. The company has a market cap of $1.88 trillion, a P/E ratio of 66.10, a P/E/G ratio of 0.70 and a beta of 1.41.

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

Broadcom Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 22nd will be paid 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 dividend payout ratio (DPR) is currently 43.33%.

Insider Activity

In other news, insider Mark David Brazeal sold 50,488 shares of the firm’s stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $321.60, for a total transaction of $16,236,940.80. Following the completion of the sale, the insider directly owned 278,141 shares in the company, valued at $89,450,145.60. This trade represents a 15.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider S. Ram Velaga sold 8,000 shares of Broadcom stock in a transaction dated Friday, April 10th. The stock was sold at an average price of $370.52, for a total value of $2,964,160.00. Following the sale, the insider directly owned 57,932 shares in the company, valued at approximately $21,464,964.64. The trade was a 12.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 324,282 shares of company stock worth $106,425,249 over the last three months. 1.90% of the stock is currently owned by corporate insiders.

Key Headlines Impacting Broadcom

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?

Analysts Set New Price Targets

AVGO has been the topic of several research reports. Cantor Fitzgerald reiterated an “overweight” rating and issued a $525.00 price target on shares of Broadcom in a research report on Thursday, June 4th. Zacks Research lowered shares of Broadcom from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 21st. Citigroup reaffirmed a “buy” rating on shares of Broadcom in a research note on Thursday. KeyCorp reiterated an “overweight” rating and set a $575.00 price target (up from $500.00) on shares of Broadcom in a report on Thursday. Finally, TD Cowen reissued a “buy” rating and issued 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 issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Broadcom currently has a consensus rating of “Moderate Buy” and a consensus price target 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.