Broadcom Inc. $AVGO Shares Purchased by Bank of New Hampshire

Bank of New Hampshire boosted its stake in Broadcom Inc. (NASDAQ:AVGO) by 62.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,022 shares of the semiconductor manufacturer’s stock after acquiring an additional 5,016 shares during the period. Broadcom comprises approximately 1.0% of Bank of New Hampshire’s portfolio, making the stock its 27th largest position. Bank of New Hampshire’s holdings in Broadcom were worth $4,507,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of AVGO. Osbon Capital Management LLC purchased a new position in shares of Broadcom during the fourth quarter worth about $249,000. Lane Brothers & Co. Inc. acquired a new stake in shares of Broadcom during the fourth quarter worth about $352,000. Fund Advisors of America Inc FL purchased a new stake in shares of Broadcom in the 4th quarter valued at about $755,000. World Investment Advisors boosted its position in shares of Broadcom by 16.1% in the 4th quarter. World Investment Advisors now owns 177,710 shares of the semiconductor manufacturer’s stock valued at $61,505,000 after purchasing an additional 24,703 shares during the period. Finally, Winthrop Partners WNY LLC acquired a new stake in shares of Broadcom in the 4th quarter valued at about $9,486,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Trending Headlines about 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.

Broadcom Price Performance

AVGO stock opened at $411.35 on Monday. The stock has a market capitalization of $1.96 trillion, a PE ratio of 68.56, a price-to-earnings-growth ratio of 0.72 and a beta of 1.41. The company has a fifty day moving average of $411.42 and a 200-day moving average of $363.34. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.01 and a current ratio of 2.24. Broadcom Inc. has a one year low of $244.17 and a one year high of $495.00.

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

Broadcom Announces Dividend

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 paid a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Monday, June 22nd. Broadcom’s dividend payout ratio is 43.33%.

Analyst Upgrades and Downgrades

Several research analysts have commented on AVGO shares. Susquehanna reaffirmed a “positive” rating and set a $490.00 price target (up from $450.00) on shares of Broadcom in a research report on Thursday, May 28th. Cantor Fitzgerald reissued an “overweight” rating and issued a $525.00 price objective on shares of Broadcom in a report on Thursday, June 4th. KeyCorp restated an “overweight” rating and set a $575.00 target price (up from $500.00) on shares of Broadcom in a research report on Thursday, June 4th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $515.00 target price (up from $430.00) on shares of Broadcom in a report on Thursday, June 4th. Finally, Mizuho upped their price target on shares of Broadcom from $480.00 to $530.00 and gave the company an “outperform” rating in a research report on Thursday, June 4th. One investment analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Broadcom currently has an average rating of “Moderate Buy” and a consensus target price of $490.13.

Insiders Place Their Bets

In other Broadcom news, insider Charlie B. Kawwas sold 10,000 shares of the stock in a transaction on Wednesday, April 8th. The stock was sold at an average price of $345.23, for a total value of $3,452,300.00. Following the completion of the transaction, the insider owned 787,184 shares in the company, valued at approximately $271,759,532.32. This represents a 1.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Harry L. You bought 1,000 shares of the stock in a transaction on Thursday, June 11th. The shares were bought 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 directly owned 38,466 shares of the company’s stock, valued at $14,369,743.62. This trade represents a 2.67% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders sold 59,385 shares of company stock worth $21,301,057. Corporate insiders own 1.90% of the company’s stock.

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.