Broadcom Inc. $AVGO Shares Acquired by Alta Park Capital LP

Alta Park Capital LP boosted its stake in Broadcom Inc. (NASDAQ:AVGO) by 11.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 55,715 shares of the semiconductor manufacturer’s stock after purchasing an additional 5,780 shares during the quarter. Broadcom comprises 2.3% of Alta Park Capital LP’s portfolio, making the stock its 20th largest position. Alta Park Capital LP’s holdings in Broadcom were worth $19,283,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. ROSS JOHNSON & Associates LLC grew its holdings in Broadcom by 1,320.0% in the fourth quarter. ROSS JOHNSON & Associates LLC now owns 71 shares of the semiconductor manufacturer’s stock valued at $25,000 after purchasing an additional 66 shares during the period. SWAN Capital LLC grew its holdings in Broadcom by 261.9% in the fourth quarter. SWAN Capital LLC now owns 76 shares of the semiconductor manufacturer’s stock valued at $26,000 after purchasing an additional 55 shares during the period. Miller Global Investments LLC purchased a new stake in Broadcom in the fourth quarter valued at approximately $31,000. Nvest Wealth Strategies Inc. purchased a new stake in Broadcom in the fourth quarter valued at approximately $33,000. Finally, Family CFO Inc purchased a new stake in Broadcom in the fourth quarter valued at approximately $35,000. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Broadcom

In other news, Director Justine Page sold 2,018 shares of the company’s stock in a transaction dated Wednesday, April 8th. The shares were sold at an average price of $353.00, for a total transaction of $712,354.00. Following the completion of the transaction, the director owned 18,164 shares in the company, valued at approximately $6,411,892. This represents a 10.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Charlie B. Kawwas sold 10,000 shares of the 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 of the company’s stock, valued at $271,759,532.32. This represents a 1.25% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 51,233 shares of company stock valued at $18,125,134. Corporate insiders own 1.90% of the company’s stock.

Broadcom Trading Up 4.3%

AVGO opened at $392.90 on Thursday. The stock has a market capitalization of $1.87 trillion, a PE ratio of 65.48, a P/E/G ratio of 0.66 and a beta of 1.41. The firm’s fifty day moving average price is $408.66 and its 200 day moving average price is $363.11. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.24 and a quick ratio of 2.01. Broadcom Inc. has a 12-month low of $244.17 and a 12-month high of $495.00.

Broadcom (NASDAQ:AVGO) last issued its earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share for the quarter, topping analysts’ consensus estimates of $2.40 by $0.04. The company had revenue of $22.19 billion for 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 revenue was up 47.9% compared to the same quarter last year. During the same period in the prior year, the company earned $1.58 earnings per share. As a group, research analysts expect that Broadcom Inc. will post 10.24 EPS for the current fiscal year.

Broadcom Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 22nd will be given a dividend of $0.65 per share. 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 is currently 43.33%.

More Broadcom News

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: JPMorgan reiterated a bullish stance on Broadcom, saying the market may be underestimating its long-term AI opportunity and calling the shares attractive at current levels. Barrons article
• Positive Sentiment: Other coverage highlighted Broadcom’s “massive AI pipeline” and the company’s growing role in AI infrastructure, reinforcing expectations for multi-year revenue growth. Benzinga article
• Positive Sentiment: Broadcom announced pricing terms for cash tender offers to repurchase portions of its outstanding debt, a move that can support balance-sheet management and financial flexibility. PR Newswire article
• Neutral Sentiment: Commentary on Broadcom’s latest quarter noted strong AI-chip demand and revenue growth, but also pointed to gross margin pressure and cautious guidance, which may be keeping some investors from getting more aggressive. Zacks article
• Negative Sentiment: Some broader AI-stock commentary has compared today’s AI capex boom to the dot-com era, renewing valuation and cycle-risk concerns across the sector that could weigh on sentiment for AVGO. 247WallSt article

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Royal Bank Of Canada boosted their price objective on shares of Broadcom from $360.00 to $400.00 and gave the stock a “sector perform” rating in a research note on Thursday, June 4th. Erste Group Bank upgraded shares of Broadcom from a “hold” rating to a “buy” rating in a research note on Friday, June 5th. Truist Financial boosted their price objective on shares of Broadcom from $545.00 to $550.00 and gave the stock a “buy” rating in a research note on Thursday, June 4th. Weiss Ratings upgraded shares of Broadcom from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, June 9th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $525.00 price objective on shares of Broadcom in a research note on Thursday, June 4th. One investment 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 stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $490.13.

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.