Bessemer Group Inc. Decreases Stock Position in Broadcom Inc. $AVGO

Bessemer Group Inc. trimmed its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 0.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,347,374 shares of the semiconductor manufacturer’s stock after selling 21,709 shares during the period. Broadcom accounts for approximately 2.6% of Bessemer Group Inc.’s holdings, making the stock its 6th largest holding. Bessemer Group Inc.’s holdings in Broadcom were worth $1,655,065,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Brighton Jones LLC increased its stake in shares of Broadcom by 21.8% in the fourth 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 in the last quarter. Revolve Wealth Partners LLC lifted its position in Broadcom by 10.4% during the 4th 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 in the last quarter. United Bank lifted its position in Broadcom by 76.5% during the 1st quarter. United Bank now owns 2,339 shares of the semiconductor manufacturer’s stock worth $392,000 after buying an additional 1,014 shares in the last quarter. Sivia Capital Partners LLC lifted its position in Broadcom by 10.1% during the 2nd 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 in the last quarter. Finally, Capital & Planning LLC grew its holdings in Broadcom by 10.5% during the 2nd 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 last quarter. Institutional investors own 76.43% of the company’s stock.

Broadcom Price Performance

Shares of AVGO stock opened at $370.83 on Monday. The stock has a 50-day moving average price of $401.29 and a 200 day moving average price of $365.42. The company has a quick ratio of 2.01, a current ratio of 2.24 and a debt-to-equity ratio of 0.71. The firm has a market cap of $1.76 trillion, a price-to-earnings ratio of 61.81, a PEG ratio of 0.65 and a beta of 1.45. Broadcom Inc. has a 12 month low of $273.00 and a 12 month high of $495.00.

Broadcom (NASDAQ:AVGO) last released its earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.40 by $0.04. The company 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 company’s revenue was up 47.9% compared to the same quarter last year. During the same period in the prior year, the company posted $1.58 EPS. Research analysts expect 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. Investors of record on Monday, June 22nd were paid a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Monday, June 22nd. Broadcom’s payout ratio is 43.33%.

Insider Buying and Selling at Broadcom

In other Broadcom news, Director Justine Page sold 1,602 shares of the firm’s stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $373.86, for a total value of $598,923.72. Following the transaction, the director directly owned 17,426 shares of the company’s stock, valued at approximately $6,514,884.36. This trade represents a 8.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Harry L. You bought 1,000 shares of the stock in a transaction on Thursday, June 11th. The shares were acquired at an average cost of $373.57 per share, with a total value of $373,570.00. Following the acquisition, the director directly owned 38,466 shares in the company, valued at approximately $14,369,743.62. This trade represents a 2.67% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders have sold 61,644 shares of company stock valued at $24,016,214. 1.90% of the stock is currently owned by corporate insiders.

Key Headlines Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Standard Chartered chose Broadcom to support a long-term modernization of its global banking infrastructure, underscoring Broadcom’s role in secure private-cloud and enterprise networking solutions. Standard Chartered Selects Broadcom to Deliver Secure, Always-On Banking Services at Global Scale
• Positive Sentiment: Wall Street commentary continues to describe Broadcom as a core AI beneficiary, and some analysts have raised price targets even after the stock pullback. As Shares Fall, Analyst Are Boosting Their Broadcom Price Targets
• Neutral Sentiment: Broadcom remains a major talking point in AI-focused market coverage, with some investors viewing it as an indicator for the broader market and semiconductor cycle. Jim Cramer Says Broadcom Will Tell You When the Market Is About to Turn
• Negative Sentiment: Broadcom is facing renewed skepticism around valuation, with one report asking whether the AI story has made the stock too expensive. Has Broadcom Become Too Expensive for Its AI Story?
• Negative Sentiment: The stock is also being hit by a broader selloff in semiconductor names as investors rotate away from AI-capex winners and worry about a slowdown in chip spending. Marvell Drops 8% as AI Capex Slowdown Fears Weigh on Chips; Broadcom, AMD, and Intel Slide
• Negative Sentiment: Broadcom is also dealing with regulatory uncertainty after reports said it faces an EU antitrust review tied to VMware licensing changes. Broadcom (AVGO) Faces EU Antitrust Review Over VMware Licensing Changes

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. UBS Group set a $485.00 price objective on shares of Broadcom and gave the company a “buy” rating in a research report on Thursday, June 4th. Mizuho upped their target price on shares of Broadcom from $480.00 to $530.00 and gave the stock an “outperform” rating in a research report on Thursday, June 4th. DA Davidson increased their price target on shares of Broadcom from $375.00 to $400.00 and gave the company a “neutral” rating in a research note on Thursday, June 4th. Royal Bank Of Canada raised their price target on shares of Broadcom from $360.00 to $400.00 and gave the company a “sector perform” rating in a report on Thursday, June 4th. Finally, Oppenheimer restated an “outperform” rating and issued a $535.00 price objective (up from $450.00) on shares of Broadcom in a research report on Thursday, June 4th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $493.24.

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.