Fund Advisors of America Inc FL Invests $755,000 in Broadcom Inc. $AVGO

Fund Advisors of America Inc FL acquired a new stake in shares of Broadcom Inc. (NASDAQ:AVGO) during the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 2,183 shares of the semiconductor manufacturer’s stock, valued at approximately $755,000.

Other large investors also recently modified their holdings of the company. Brown Brothers Harriman & Co. lifted its stake in Broadcom by 10.7% in the third quarter. Brown Brothers Harriman & Co. now owns 77,411 shares of the semiconductor manufacturer’s stock worth $25,539,000 after purchasing an additional 7,499 shares during the last quarter. Dana Investment Advisors Inc. boosted its position in Broadcom by 2.6% during the third quarter. Dana Investment Advisors Inc. now owns 173,759 shares of the semiconductor manufacturer’s stock valued at $57,325,000 after buying an additional 4,442 shares during the period. Sovran Advisors LLC boosted its position in Broadcom by 121.3% during the fourth quarter. Sovran Advisors LLC now owns 30,631 shares of the semiconductor manufacturer’s stock valued at $10,507,000 after buying an additional 16,789 shares during the period. Thurston Springer Miller Herd & Titak Inc. grew its stake in shares of Broadcom by 406.1% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 11,994 shares of the semiconductor manufacturer’s stock valued at $4,151,000 after buying an additional 9,624 shares during the last quarter. Finally, Siligmueller & Norvid Wealth Advisors LLC bought a new position in shares of Broadcom during the third quarter valued at about $762,000. 76.43% of the stock is owned by hedge funds and other institutional investors.

Broadcom Stock Performance

Shares of NASDAQ:AVGO opened at $411.35 on Monday. The company has a market cap of $1.96 trillion, a price-to-earnings ratio of 68.56, a price-to-earnings-growth ratio of 0.72 and a beta of 1.41. The company has a 50-day moving average price of $411.42 and a 200-day moving average price of $363.34. The company has a current ratio of 2.24, a quick ratio of 2.01 and a debt-to-equity ratio of 0.71. Broadcom Inc. has a 12 month low of $244.17 and a 12 month high of $495.00.

Broadcom (NASDAQ:AVGO) last posted 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 during 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 for the quarter was up 47.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.58 earnings per share. As a group, equities analysts anticipate that Broadcom Inc. will post 10.24 EPS for the current 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 dividend of $0.65 per share. The ex-dividend date of this dividend is Monday, June 22nd. This represents a $2.60 dividend on an annualized basis and a yield of 0.6%. Broadcom’s dividend payout ratio is presently 43.33%.

Key Headlines Impacting Broadcom

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.

Analyst Ratings Changes

AVGO has been the subject of a number of recent research reports. The Goldman Sachs Group reissued a “buy” rating and issued a $525.00 target price on shares of Broadcom in a research note on Thursday, June 4th. DA Davidson raised their price target on Broadcom from $375.00 to $400.00 and gave the stock a “neutral” rating in a research report on Thursday, June 4th. Susquehanna reaffirmed a “positive” rating and issued a $490.00 price target (up from $450.00) on shares of Broadcom in a research note on Thursday, May 28th. Evercore reiterated an “outperform” rating and issued a $582.00 price objective on shares of Broadcom in a research report on Tuesday, May 19th. Finally, TD Cowen reissued a “buy” rating and set a $500.00 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 issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $490.13.

Insiders Place Their Bets

In other Broadcom news, insider Mark David Brazeal sold 4,825 shares of the stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $394.91, for a total value of $1,905,440.75. Following the completion of the sale, the insider owned 269,989 shares in the company, valued at approximately $106,621,355.99. This trade represents a 1.76% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Harry L. You acquired 1,000 shares of the business’s stock in a transaction dated Thursday, June 11th. The stock was acquired at an average price of $373.57 per share, for a total transaction of $373,570.00. Following the completion of the transaction, the director owned 38,466 shares in the company, valued at approximately $14,369,743.62. The trade was a 2.67% increase in their position. The SEC filing for this purchase provides additional information. In the last quarter, insiders have sold 59,385 shares of company stock worth $21,301,057. Insiders own 1.90% of the company’s stock.

About Broadcom

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.