11,117 Shares in Broadcom Inc. $AVGO Acquired by Arsenal Capital Advisors LLC

Arsenal Capital Advisors LLC bought a new position in shares of Broadcom Inc. (NASDAQ:AVGO) during the fourth quarter, Holdings Channel reports. The fund bought 11,117 shares of the semiconductor manufacturer’s stock, valued at approximately $3,848,000. Broadcom accounts for 2.7% of Arsenal Capital Advisors LLC’s investment portfolio, making the stock its 7th biggest position.

Other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank acquired a new stake in shares of Broadcom during the fourth quarter valued at approximately $24,252,196,000. Arrowstreet Capital Limited Partnership boosted its stake in Broadcom by 499.4% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 5,634,232 shares of the semiconductor manufacturer’s stock worth $1,858,789,000 after purchasing an additional 4,694,313 shares during the period. Vanguard Group Inc. grew its position in Broadcom by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 482,707,302 shares of the semiconductor manufacturer’s stock worth $167,064,997,000 after purchasing an additional 3,919,715 shares in the last quarter. Nordea Investment Management AB grew its position in Broadcom by 47.5% during the 4th quarter. Nordea Investment Management AB now owns 9,814,757 shares of the semiconductor manufacturer’s stock worth $3,406,211,000 after purchasing an additional 3,160,586 shares in the last quarter. Finally, Danske Bank A S acquired a new stake in Broadcom during the 3rd quarter valued at $987,488,000. Institutional investors and hedge funds own 76.43% 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?

Analysts Set New Price Targets

AVGO has been the topic of a number of research analyst reports. Oppenheimer reiterated an “outperform” rating and set a $535.00 price target (up from $450.00) on shares of Broadcom in a report on Thursday. KeyCorp restated an “overweight” rating and set a $575.00 price objective (up from $500.00) on shares of Broadcom in a research report on Thursday. JPMorgan Chase & Co. lifted their target price on Broadcom from $500.00 to $580.00 and gave the company an “overweight” rating in a research note on Thursday, June 4th. UBS Group set a $485.00 target price on Broadcom and gave the company a “buy” rating in a report on Thursday. Finally, Seaport Research Partners reissued a “neutral” rating on shares of Broadcom in a research report on Wednesday, April 8th. One equities research 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 stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $490.13.

Insiders Place Their Bets

In other Broadcom news, Director Gayla J. Delly sold 1,000 shares of the business’s stock in a transaction on Thursday, April 9th. The shares were sold at an average price of $358.31, for a total value of $358,310.00. Following the sale, the director 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. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Charlie B. Kawwas sold 10,000 shares of the business’s stock in a transaction dated Wednesday, April 8th. The shares were sold at an average price of $345.23, for a total transaction of $3,452,300.00. Following the completion of the transaction, the insider owned 787,184 shares in the company, valued at approximately $271,759,532.32. This trade represents a 1.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 324,282 shares of company stock valued at $106,425,249 in the last 90 days. 1.90% of the stock is currently owned by corporate insiders.

Broadcom Stock Up 2.8%

Shares of AVGO stock opened at $396.60 on Tuesday. The stock’s 50 day simple moving average is $397.96 and its 200 day simple moving average is $362.43. Broadcom Inc. has a twelve month low of $241.11 and a twelve month high of $495.00. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.01 and a current ratio of 2.24. The company has a market capitalization of $1.88 trillion, a price-to-earnings ratio of 66.10, a PEG ratio of 0.70 and a beta of 1.41.

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 for the quarter, compared to analyst estimates of $22.13 billion. Broadcom had a net margin of 38.85% and a return on equity of 41.61%. Broadcom’s revenue was up 47.9% compared to the same quarter last year. During the same period last year, the business posted $1.58 EPS. As a group, research analysts predict that Broadcom Inc. will post 9.97 EPS for the current year.

Broadcom Announces Dividend

The business 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 $0.65 dividend. The ex-dividend date is Monday, June 22nd. This represents a $2.60 annualized dividend and a dividend yield of 0.7%. Broadcom’s dividend payout ratio (DPR) is presently 43.33%.

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.