BNB Wealth Management LLC Makes New $3.54 Million Investment in Broadcom Inc. $AVGO

BNB Wealth Management LLC purchased a new position in shares of Broadcom Inc. (NASDAQ:AVGO) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 10,219 shares of the semiconductor manufacturer’s stock, valued at approximately $3,537,000. Broadcom accounts for approximately 2.3% of BNB Wealth Management LLC’s holdings, making the stock its 17th largest holding.

Several other institutional investors also recently added to or reduced their stakes in AVGO. Brighton Jones LLC increased its position in Broadcom by 21.8% during the fourth quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer’s stock worth $6,882,000 after buying an additional 5,322 shares during the period. Revolve Wealth Partners LLC increased its position in Broadcom by 10.4% during the fourth quarter. Revolve Wealth Partners LLC now owns 7,997 shares of the semiconductor manufacturer’s stock worth $1,854,000 after buying an additional 756 shares during the period. United Bank increased its position in Broadcom by 76.5% during the first quarter. United Bank now owns 2,339 shares of the semiconductor manufacturer’s stock worth $392,000 after buying an additional 1,014 shares during the period. Sivia Capital Partners LLC increased its position in Broadcom by 10.1% during the second quarter. Sivia Capital Partners LLC now owns 12,693 shares of the semiconductor manufacturer’s stock worth $3,499,000 after buying an additional 1,160 shares during the period. Finally, Capital & Planning LLC increased its position in Broadcom by 10.5% during the second quarter. Capital & Planning LLC now owns 3,983 shares of the semiconductor manufacturer’s stock worth $1,098,000 after buying an additional 378 shares during the period. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom News Summary

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

Insider Buying and Selling

In other news, insider S. Ram Velaga sold 17,260 shares of the business’s stock in a transaction on Thursday, April 9th. The stock was sold at an average price of $352.12, for a total value of $6,077,591.20. Following the completion of the transaction, the insider directly owned 65,932 shares of the company’s stock, valued at $23,215,975.84. The trade was a 20.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Harry L. You purchased 1,000 shares of the business’s stock in a transaction dated Thursday, June 11th. The stock was bought at an average cost of $373.57 per share, with a total value of $373,570.00. Following the completion of the acquisition, the director owned 38,466 shares of the company’s stock, valued at approximately $14,369,743.62. The trade was a 2.67% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders sold 51,233 shares of company stock valued at $18,125,134. Company insiders own 1.90% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on AVGO shares. Wells Fargo & Company reissued an “overweight” rating and issued a $545.00 target price (up from $430.00) on shares of Broadcom in a report on Thursday, May 14th. Citigroup reissued a “buy” rating on shares of Broadcom in a report on Thursday, June 4th. Benchmark boosted their target price on Broadcom from $485.00 to $545.00 and gave the company a “buy” rating in a report on Thursday, June 4th. TD Cowen reissued a “buy” rating and issued a $500.00 target price on shares of Broadcom in a report on Thursday, June 4th. Finally, Truist Financial boosted their target price on Broadcom from $545.00 to $550.00 and gave the company a “buy” rating in a report on Thursday, June 4th. One analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, Broadcom presently has an average rating of “Moderate Buy” and an average price target of $490.13.

Broadcom Stock Up 4.3%

AVGO opened at $392.90 on Thursday. The business’s fifty day moving average is $408.66 and its two-hundred day moving average is $363.11. 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 cap of $1.87 trillion, a price-to-earnings ratio of 65.48, a PEG ratio of 0.66 and a beta of 1.41. Broadcom Inc. has a one year low of $244.17 and a one year high of $495.00.

Broadcom (NASDAQ:AVGO) last posted its earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 EPS for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $22.13 billion. During the same period in the previous year, the business earned $1.58 earnings per share. Broadcom’s quarterly revenue was up 47.9% compared to the same quarter last year. Analysts anticipate that Broadcom Inc. will post 10.24 EPS for the current fiscal year.

Broadcom Announces Dividend

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

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.