Dockside LLC Invests $1.73 Million in Broadcom Inc. $AVGO

Dockside LLC purchased a new position in Broadcom Inc. (NASDAQ:AVGO) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 5,002 shares of the semiconductor manufacturer’s stock, valued at approximately $1,731,000.

A number of other hedge funds also recently modified their holdings of AVGO. Brighton Jones LLC raised its holdings in shares of Broadcom by 21.8% in the 4th quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer’s stock worth $6,882,000 after purchasing an additional 5,322 shares during the period. Revolve Wealth Partners LLC raised its holdings in shares of Broadcom by 10.4% in the 4th quarter. Revolve Wealth Partners LLC now owns 7,997 shares of the semiconductor manufacturer’s stock worth $1,854,000 after purchasing an additional 756 shares during the period. United Bank raised its holdings in shares of Broadcom by 76.5% in the 1st quarter. United Bank now owns 2,339 shares of the semiconductor manufacturer’s stock worth $392,000 after purchasing an additional 1,014 shares during the period. Sivia Capital Partners LLC raised its holdings in shares of Broadcom by 10.1% in the 2nd quarter. Sivia Capital Partners LLC now owns 12,693 shares of the semiconductor manufacturer’s stock worth $3,499,000 after purchasing an additional 1,160 shares during the period. Finally, Capital & Planning LLC raised its holdings in shares of Broadcom by 10.5% in the 2nd quarter. Capital & Planning LLC now owns 3,983 shares of the semiconductor manufacturer’s stock worth $1,098,000 after purchasing an additional 378 shares during the period. Institutional investors own 76.43% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on AVGO shares. 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. Seaport Research Partners reaffirmed a “neutral” rating on shares of Broadcom in a report on Wednesday, April 8th. Bank of America lifted their price target on shares of Broadcom from $450.00 to $530.00 and gave the stock a “buy” rating in a report on Thursday, June 4th. Weiss Ratings raised shares of Broadcom from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $525.00 target price on shares of Broadcom in a report on Thursday, June 4th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $490.13.

Insider Activity

In other news, insider Mark David Brazeal sold 50,488 shares of the company’s stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $321.60, for a total value of $16,236,940.80. Following the transaction, the insider owned 278,141 shares of the company’s stock, valued at approximately $89,450,145.60. This represents a 15.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider S. Ram Velaga sold 38,841 shares of the company’s stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $321.60, for a total transaction of $12,491,265.60. Following the completion of the transaction, the insider directly owned 96,147 shares in the company, valued at approximately $30,920,875.20. The trade was a 28.77% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 324,282 shares of company stock worth $106,425,249. Company insiders own 1.90% of the company’s stock.

More Broadcom News

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom’s quarterly results were very strong, with revenue up 48% to a record $22.2 billion, semiconductor revenue up 79%, AI semiconductor revenue up 143% to $10.8 billion, and more than $30 billion in AI bookings, suggesting demand remains robust. Article Title
• Positive Sentiment: Several analysts and commentators argue the recent drop could be a buying opportunity, saying Broadcom remains a core infrastructure winner in AI and that Wall Street’s long-term outlook is still constructive. Article Title
• Positive Sentiment: Fresh coverage highlighted Broadcom as one of the stocks with catalysts heading into the second half of the year, and some analysts have raised earnings forecasts and price targets despite the selloff. Article Title
• Neutral Sentiment: Jim Cramer said Broadcom’s earnings were “not good” and suggested tech stocks are harder to trust as leadership names, reflecting a more cautious market mood around the stock. Article Title
• Neutral Sentiment: Broadcom also announced cash tender offers for certain outstanding debt securities, a routine balance-sheet move that is unlikely to move the stock by itself. Article Title
• Negative Sentiment: Market commentary says the stock is being punished because investors are nitpicking Broadcom’s AI outlook and pricing the shares as if growth must keep accelerating without any hiccups. Article Title
• Negative Sentiment: One note warned that Broadcom told investors to expect gross profit margins to continue falling, reinforcing concerns that profitability may soften even as revenue grows. Article Title

Broadcom Trading Down 0.9%

Broadcom stock opened at $382.07 on Friday. The stock has a market cap of $1.82 trillion, a P/E ratio of 63.68, a PEG ratio of 0.67 and a beta of 1.41. Broadcom Inc. has a fifty-two week low of $244.17 and a fifty-two week high of $495.00. The firm’s fifty day moving average price is $404.26 and its 200-day moving average price is $363.33. 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 (NASDAQ:AVGO) last released its quarterly earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share for the quarter, topping the consensus estimate of $2.40 by $0.04. The firm had revenue of $22.19 billion for the quarter, compared to analysts’ expectations of $22.13 billion. Broadcom had a net margin of 38.85% and a return on equity of 41.61%. The business’s quarterly revenue was up 47.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.58 earnings per share. Equities research analysts forecast that Broadcom Inc. will post 10.24 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 22nd will be issued a $0.65 dividend. The ex-dividend date of this dividend is Monday, June 22nd. This represents a $2.60 annualized dividend and a dividend yield of 0.7%. Broadcom’s dividend payout ratio is presently 43.33%.

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.