AXS Investments LLC Raises Position in Broadcom Inc. $AVGO

AXS Investments LLC increased its stake in Broadcom Inc. (NASDAQ:AVGO) by 59.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 6,834 shares of the semiconductor manufacturer’s stock after purchasing an additional 2,535 shares during the quarter. AXS Investments LLC’s holdings in Broadcom were worth $2,115,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. Fullerton Advisors LLC raised its stake in shares of Broadcom by 1.3% in the first quarter. Fullerton Advisors LLC now owns 1,989 shares of the semiconductor manufacturer’s stock valued at $616,000 after buying an additional 25 shares during the period. NORTHSTAR ASSET MANAGEMENT Co grew its stake in shares of Broadcom by 0.5% during the 1st quarter. NORTHSTAR ASSET MANAGEMENT Co now owns 5,350 shares of the semiconductor manufacturer’s stock worth $1,656,000 after acquiring an additional 25 shares during the period. RFG Holdings Inc. grew its stake in shares of Broadcom by 0.3% during the 1st quarter. RFG Holdings Inc. now owns 8,499 shares of the semiconductor manufacturer’s stock worth $2,631,000 after acquiring an additional 26 shares during the period. Yukon Wealth Management Inc. grew its stake in shares of Broadcom by 1.1% during the 1st quarter. Yukon Wealth Management Inc. now owns 2,501 shares of the semiconductor manufacturer’s stock worth $774,000 after acquiring an additional 26 shares during the period. Finally, Capital Planning LLC increased its holdings in Broadcom by 0.7% in the 1st quarter. Capital Planning LLC now owns 4,044 shares of the semiconductor manufacturer’s stock worth $1,252,000 after acquiring an additional 28 shares during the last quarter. Institutional investors own 76.43% of the company’s stock.

Insider Activity

In other Broadcom news, Director Justine Page sold 1,602 shares of the 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 sale, the director directly owned 17,426 shares in the company, valued at $6,514,884.36. This represents a 8.42% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Gayla J. Delly sold 1,890 shares of the firm’s stock in a transaction on Wednesday, July 8th. The shares were sold at an average price of $385.38, for a total transaction of $728,368.20. Following the completion of the transaction, the director directly owned 31,326 shares of the company’s stock, valued at approximately $12,072,413.88. The trade was a 5.69% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 61,644 shares of company stock worth $24,016,214. Insiders own 1.90% of the company’s stock.

Key Broadcom News

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Morgan Stanley said Broadcom remains one of its preferred ways to play the AI infrastructure buildout, calling AVGO an attractive risk-reward name after the recent semiconductor pullback. Broadcom stock gains 2% today: here’s why
• Positive Sentiment: Analysts and market commentary highlighted Broadcom as a high-cash-flow AI chip stock that could benefit as investors look for quality names amid market volatility. 4 High Cash-Producing AI Chip Stocks to Buy Amid Market Uncertainties
• Positive Sentiment: Broadcom’s AI business is being viewed as a key driver of the investment case, with reports noting strong AI chip revenue growth and a larger shift toward AI-related mix. AMD vs. Broadcom: The Better AI-Chip Stock to Buy After the Sell-Off
• Positive Sentiment: Broadcom also announced a major infrastructure software deal with Standard Chartered to modernize banking cloud operations across 54 markets, which supports its VMware-based software revenue stream. Broadcom (AVGO) Lands Standard Chartered Deal To Power Banking Cloud In 54 Markets
• Neutral Sentiment: Broadcom was included in broader “buy the dip” chip-sector commentary as investors looked for value after the recent memory and AI semiconductor sell-off. The Memory Stock Sell-Off Created a ‘Strong Entry Point,’ Says Morgan Stanley. Investors Are Buying In.
• Negative Sentiment: Recent articles also noted that semiconductor stocks had fallen into a bear market after a sharp index decline, reflecting ongoing sectorwide pressure that could cap gains for AVGO. Semiconductor stocks enter bear market: Is bubble burst next?

Broadcom Stock Up 2.0%

Shares of NASDAQ AVGO opened at $378.16 on Tuesday. Broadcom Inc. has a 52 week low of $273.00 and a 52 week high of $495.00. The business has a 50-day simple moving average of $400.28 and a two-hundred day simple moving average of $365.62. 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 company has a market cap of $1.80 trillion, a P/E ratio of 63.03, a P/E/G ratio of 0.65 and a beta of 1.45.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share for the quarter, beating the consensus estimate of $2.40 by $0.04. Broadcom had a return on equity of 41.61% and a net margin of 38.85%.The firm had revenue of $22.19 billion for the quarter, compared to analysts’ expectations of $22.13 billion. During the same period in the prior year, the business posted $1.58 earnings per share. The company’s revenue was up 47.9% on a year-over-year basis. Research analysts anticipate that Broadcom Inc. will post 10.24 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The company also recently disclosed 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. The ex-dividend date of this dividend was Monday, June 22nd. This represents a $2.60 annualized dividend and a yield of 0.7%. Broadcom’s payout ratio is currently 43.33%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Dbs Bank upgraded Broadcom to a “moderate buy” rating in a research note on Thursday, June 18th. Seaport Research Partners reiterated a “neutral” rating on shares of Broadcom in a research report on Wednesday, April 8th. Erste Group Bank reiterated a “hold” rating on shares of Broadcom in a research note on Tuesday, July 7th. The Goldman Sachs Group reissued a “buy” rating and issued a $525.00 price target on shares of Broadcom in a research report on Thursday, June 4th. Finally, Benchmark upped their price target on shares of Broadcom from $485.00 to $545.00 and gave the company a “buy” rating in a research note on Thursday, June 4th. One analyst has rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Broadcom presently has a consensus rating of “Moderate Buy” and a consensus target price 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.