Green Ridge Wealth Planning LLC Takes Position in Broadcom Inc. $AVGO

Green Ridge Wealth Planning LLC acquired a new position in Broadcom Inc. (NASDAQ:AVGO) during the fourth quarter, Holdings Channel reports. The institutional investor acquired 2,040 shares of the semiconductor manufacturer’s stock, valued at approximately $706,000.

Several other large investors have also made changes to their positions in the business. Brighton Jones LLC grew its holdings in Broadcom by 21.8% in the 4th quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer’s stock valued at $6,882,000 after buying an additional 5,322 shares during the last quarter. Revolve Wealth Partners LLC boosted its position in shares of Broadcom by 10.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 7,997 shares of the semiconductor manufacturer’s stock valued at $1,854,000 after acquiring an additional 756 shares during the period. United Bank grew its stake in shares of Broadcom by 76.5% in the first quarter. United Bank now owns 2,339 shares of the semiconductor manufacturer’s stock worth $392,000 after acquiring an additional 1,014 shares during the last quarter. Sivia Capital Partners LLC grew its stake in shares of Broadcom by 10.1% in the second quarter. Sivia Capital Partners LLC now owns 12,693 shares of the semiconductor manufacturer’s stock worth $3,499,000 after acquiring an additional 1,160 shares during the last quarter. 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 acquiring an additional 378 shares during the period. 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’s debt tender offer was upsized to $3 billion after strong investor demand, signaling active balance-sheet management and reinforcing investor confidence. Broadcom Inc. Announces Results and Upsize of Offers to Purchase for Cash Certain of its Outstanding Debt Securities
• Positive Sentiment: JPMorgan remained bullish on Broadcom, saying investors should be “aggressive buyers,” which supports the view that the market may still be underestimating AVGO’s AI growth. AVGO stock jumps — JPMorgan says investors should be ‘aggressive buyers’ of Broadcom at current levels
• Positive Sentiment: Citi also called Broadcom a top chip stock on strong data-center demand, adding another bullish Wall Street view tied to AI infrastructure spending. Citi Touts Broadcom Inc. (AVGO) as a Top Chip Stock on Soaring Data Center Demand
• Positive Sentiment: One report said VMware, Broadcom’s second-largest business, may be set to accelerate, which could broaden growth beyond the company’s AI chip exposure. VMware: Broadcom’s Second Biggest Business Set to Accelerate
• Neutral Sentiment: Insider Mark David Brazeal sold shares in two June transactions, but the sales were relatively small versus his remaining stake and do not necessarily change the broader investment thesis. Mark David Brazeal insider trading page
• Negative Sentiment: One analyst warned that chip valuations are getting stretched and suggested investors could consider alternatives, including Broadcom, which may temper enthusiasm if valuation concerns intensify. Analyst Warns Intel Valuation ‘Doesn’t Make Sense.’ Suggests NVIDIA, AMD, Micron, and Broadcom as Alternatives.

Broadcom Price Performance

Shares of AVGO stock opened at $411.35 on Monday. The stock has a market cap of $1.96 trillion, a P/E ratio of 68.56, a price-to-earnings-growth ratio of 0.72 and a beta of 1.41. Broadcom Inc. has a one year low of $244.17 and a one year high of $495.00. The stock has a fifty day moving average price of $411.42 and a 200 day moving average price of $363.34. 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 (NASDAQ:AVGO) last posted its quarterly 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 firm had revenue of $22.19 billion for the quarter, compared to the consensus estimate of $22.13 billion. Broadcom had a net margin of 38.85% and a return on equity of 41.61%. The business’s revenue was up 47.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.58 earnings per share. Analysts predict that Broadcom Inc. will post 10.24 earnings per share for the current year.

Broadcom Dividend Announcement

The firm also recently announced 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. This represents a $2.60 annualized dividend and a dividend yield of 0.6%. The ex-dividend date is Monday, June 22nd. Broadcom’s payout ratio is 43.33%.

Analyst Upgrades and Downgrades

AVGO has been the subject of several research analyst reports. Evercore reiterated an “outperform” rating and set a $582.00 target price on shares of Broadcom in a research note on Tuesday, May 19th. Jefferies Financial Group set a $550.00 price target on shares of Broadcom and gave the stock a “buy” rating in a research report on Thursday, June 4th. KeyCorp restated an “overweight” rating and set a $575.00 price objective (up from $500.00) on shares of Broadcom in a report on Thursday, June 4th. Bank of America upped their price objective on shares of Broadcom from $450.00 to $530.00 and gave the company a “buy” rating in a research report on Thursday, June 4th. Finally, Erste Group Bank upgraded shares of Broadcom from a “hold” rating to a “buy” rating in a research note on Friday, June 5th. One 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 company. According to data from MarketBeat.com, Broadcom has an average rating of “Moderate Buy” and an average target price of $490.13.

Insider Buying and Selling at Broadcom

In other Broadcom news, insider S. Ram Velaga sold 8,000 shares of the firm’s stock in a transaction dated Friday, April 10th. The shares were sold at an average price of $370.52, for a total transaction of $2,964,160.00. Following the completion of the transaction, the insider owned 57,932 shares in the company, valued at $21,464,964.64. This trade represents a 12.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Harry L. You acquired 1,000 shares of the firm’s stock in a transaction on Thursday, June 11th. The shares were bought at an average cost of $373.57 per share, for a total transaction of $373,570.00. Following the completion of the acquisition, the director directly owned 38,466 shares of the company’s stock, valued at approximately $14,369,743.62. This represents a 2.67% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders sold 59,385 shares of company stock worth $21,301,057 in the last 90 days. 1.90% of the stock is currently owned by insiders.

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.