Broadcom Inc. $AVGO Shares Sold by Eventide Asset Management LLC

Eventide Asset Management LLC lowered its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 3.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 47,308 shares of the semiconductor manufacturer’s stock after selling 1,545 shares during the period. Eventide Asset Management LLC’s holdings in Broadcom were worth $16,444,000 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 made changes to their positions in AVGO. ROSS JOHNSON & Associates LLC increased its holdings in shares of Broadcom by 1,320.0% during the 4th quarter. ROSS JOHNSON & Associates LLC now owns 71 shares of the semiconductor manufacturer’s stock worth $25,000 after buying an additional 66 shares during the last quarter. SWAN Capital LLC boosted its position in shares of Broadcom by 261.9% during the 4th quarter. SWAN Capital LLC now owns 76 shares of the semiconductor manufacturer’s stock worth $26,000 after purchasing an additional 55 shares during the period. Miller Global Investments LLC purchased a new position in shares of Broadcom during the 4th quarter worth approximately $31,000. Nvest Wealth Strategies Inc. purchased a new position in shares of Broadcom during the 4th quarter worth approximately $33,000. Finally, Family CFO Inc purchased a new position in shares of Broadcom during the 4th quarter worth approximately $35,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insider Buying and Selling

In other Broadcom news, Director Justine Page sold 2,018 shares of the firm’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 transaction, the director owned 18,164 shares of the company’s stock, valued at $6,411,892. This trade represents a 10.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Charlie B. Kawwas sold 39,116 shares of the firm’s stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $321.61, for a total transaction of $12,580,096.76. Following the completion of the transaction, the insider directly owned 74,626 shares of the company’s stock, valued at $24,000,467.86. This represents a 34.39% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 215,970 shares of company stock worth $71,104,945 over the last three months. 1.90% of the stock is owned by insiders.

Key Headlines Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom’s quarterly results were very strong, with revenue up 48% to a record $22.2 billion, semiconductor revenue up 79%, AI semiconductor revenue up 143% to $10.8 billion, and more than $30 billion in AI bookings, suggesting demand remains robust. Article Title
• Positive Sentiment: Several analysts and commentators argue the recent drop could be a buying opportunity, saying Broadcom remains a core infrastructure winner in AI and that Wall Street’s long-term outlook is still constructive. Article Title
• Positive Sentiment: Fresh coverage highlighted Broadcom as one of the stocks with catalysts heading into the second half of the year, and some analysts have raised earnings forecasts and price targets despite the selloff. Article Title
• Neutral Sentiment: Jim Cramer said Broadcom’s earnings were “not good” and suggested tech stocks are harder to trust as leadership names, reflecting a more cautious market mood around the stock. Article Title
• Neutral Sentiment: Broadcom also announced cash tender offers for certain outstanding debt securities, a routine balance-sheet move that is unlikely to move the stock by itself. Article Title
• Negative Sentiment: Market commentary says the stock is being punished because investors are nitpicking Broadcom’s AI outlook and pricing the shares as if growth must keep accelerating without any hiccups. Article Title
• Negative Sentiment: One note warned that Broadcom told investors to expect gross profit margins to continue falling, reinforcing concerns that profitability may soften even as revenue grows. Article Title

Analyst Ratings Changes

A number of equities analysts recently weighed in on AVGO shares. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $515.00 price objective (up from $430.00) on shares of Broadcom in a research report on Thursday, June 4th. KeyCorp reaffirmed an “overweight” rating and set a $575.00 price objective (up from $500.00) on shares of Broadcom in a research report on Thursday, June 4th. JPMorgan Chase & Co. increased their price objective on shares of Broadcom from $500.00 to $580.00 and gave the stock an “overweight” rating in a research report on Thursday, June 4th. Royal Bank Of Canada increased their price objective on shares of Broadcom from $360.00 to $400.00 and gave the stock a “sector perform” rating in a research report on Thursday, June 4th. Finally, Weiss Ratings raised shares of Broadcom from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, June 9th. One research analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $490.13.

Broadcom Stock Performance

Shares of AVGO stock opened at $382.07 on Monday. 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 $244.17 and a 52 week high of $495.00. The stock has a market capitalization of $1.82 trillion, a PE ratio of 63.68, a P/E/G ratio of 0.67 and a beta of 1.41. The firm has a 50 day moving average of $404.26 and a two-hundred day moving average of $363.22.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results 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 net margin of 38.85% and a return on equity of 41.61%. The company had revenue of $22.19 billion during the quarter, compared to analysts’ expectations of $22.13 billion. During the same quarter last year, the company posted $1.58 EPS. The firm’s revenue was up 47.9% compared to the same quarter last year. On average, research analysts predict that Broadcom Inc. will post 10.24 EPS for the current fiscal year.

Broadcom Announces Dividend

The firm also recently declared 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 dividend payout ratio (DPR) is currently 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.