Broadcom Inc. $AVGO Shares Sold by Harbor Investment Advisory LLC

Harbor Investment Advisory LLC reduced its stake in Broadcom Inc. (NASDAQ:AVGO) by 8.3% in the 1st quarter, Holdings Channel reports. The institutional investor owned 26,395 shares of the semiconductor manufacturer’s stock after selling 2,380 shares during the period. Broadcom accounts for approximately 0.6% of Harbor Investment Advisory LLC’s investment portfolio, making the stock its 27th largest position. Harbor Investment Advisory LLC’s holdings in Broadcom were worth $8,170,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of AVGO. ROSS JOHNSON & Associates LLC grew its holdings in shares of 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 increased its position in Broadcom by 261.9% during the fourth quarter. SWAN Capital LLC now owns 76 shares of the semiconductor manufacturer’s stock worth $26,000 after purchasing an additional 55 shares during the last quarter. Networth Advisors LLC increased its position in Broadcom by 546.2% during the first quarter. Networth Advisors LLC now owns 84 shares of the semiconductor manufacturer’s stock worth $26,000 after purchasing an additional 71 shares during the last quarter. Miller Global Investments LLC purchased a new position in Broadcom during the fourth quarter worth about $31,000. Finally, Nvest Wealth Strategies Inc. purchased a new position in Broadcom during the fourth quarter worth about $33,000. 76.43% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Charlie B. Kawwas sold 10,000 shares of the company’s stock in a transaction that occurred on 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 sale, the insider directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 transaction of $1,905,440.75. Following 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 60,987 shares of company stock valued at $21,899,980. 1.90% of the stock is owned by company insiders.

Key Headlines Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: JPMorgan, UBS, Jefferies and other analysts remain constructive on Broadcom’s AI-driven growth, with price targets well above current levels and continued optimism around custom AI silicon demand, including exposure to customers such as OpenAI and Anthropic. UBS Reaffirms Buy Rating on Broadcom (AVGO) Amid AI ASIC Demand and OpenAI, Anthropic Growth
• Positive Sentiment: Articles highlighting Broadcom’s partnership with OpenAI on the “Jalapeño” AI accelerator reinforce the market’s bullish view that AI infrastructure can keep driving revenue growth. What Broadcom (AVGO)’s Jalapeño AI Accelerator Partnership With OpenAI Means For Shareholders
• Neutral Sentiment: Several recent write-ups argue Broadcom may be attractive after its pullback, but they mostly restate the same long-term thesis rather than pointing to a new catalyst. Why Broadcom Stock Slumped Today
• Neutral Sentiment: Investors continue to search for clues on whether Broadcom can rebound from its post-earnings decline, with coverage focusing on earnings estimates and fair-value changes. Broadcom (AVGO) Stock Gets Fair Value Boost As Analysts Split On AI Outlook
• Negative Sentiment: Director Justine Page sold 1,602 shares of Broadcom stock, extending insider-selling headlines that can weigh on sentiment even if the sale is relatively small versus the company’s size. SEC Form 4 filing for Justine Page sale
• Negative Sentiment: Broadcom remains about 14% below its last earnings report level, and recent commentary suggests investors are still uneasy about whether the company’s strong results were enough to justify its premium valuation. Broadcom Inc. (AVGO) Down 14% Since Last Earnings Report: Can It Rebound?

Broadcom Price Performance

AVGO stock opened at $360.45 on Friday. The business’s fifty day moving average price is $407.92 and its 200 day moving average price is $362.33. Broadcom Inc. has a 12-month low of $269.58 and a 12-month high of $495.00. The company has a current ratio of 2.24, a quick ratio of 2.01 and a debt-to-equity ratio of 0.71. The company has a market capitalization of $1.71 trillion, a PE ratio of 60.08, a P/E/G ratio of 0.63 and a beta of 1.45.

Broadcom (NASDAQ:AVGO) last announced its earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 EPS for the quarter, beating analysts’ consensus estimates of $2.40 by $0.04. The company had revenue of $22.19 billion during the quarter, compared to analysts’ expectations of $22.13 billion. Broadcom had a return on equity of 41.61% and a net margin of 38.85%.Broadcom’s revenue for the quarter was up 47.9% on a year-over-year basis. During the same period last year, the business posted $1.58 EPS. On average, sell-side 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 was paid on Tuesday, June 30th. Stockholders of record on Monday, June 22nd were given a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Monday, June 22nd. Broadcom’s dividend payout ratio is currently 43.33%.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. JPMorgan Chase & Co. boosted their target price on shares of Broadcom from $500.00 to $580.00 and gave the company an “overweight” rating in a report on Thursday, June 4th. UBS Group set a $485.00 price target on shares of Broadcom and gave the stock a “buy” rating in a report on Thursday, June 4th. Mizuho lifted 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. Susquehanna reiterated a “positive” rating and issued a $490.00 price objective (up from $450.00) on shares of Broadcom in a report on Thursday, May 28th. Finally, Bank of America increased their price objective on Broadcom from $450.00 to $530.00 and gave the stock a “buy” rating in a research report on Thursday, June 4th. One analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, Broadcom presently has a consensus rating of “Moderate Buy” and a consensus price target of $493.24.

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.