Aureus Asset Management LLC Trims Stock Position in Broadcom Inc. $AVGO

Aureus Asset Management LLC cut its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 28.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 151,961 shares of the semiconductor manufacturer’s stock after selling 60,472 shares during the period. Broadcom makes up approximately 3.4% of Aureus Asset Management LLC’s investment portfolio, making the stock its 7th largest holding. Aureus Asset Management LLC’s holdings in Broadcom were worth $52,594,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Baring Financial LLC lifted its holdings in Broadcom by 2.2% during the fourth quarter. Baring Financial LLC now owns 1,359 shares of the semiconductor manufacturer’s stock worth $470,000 after acquiring an additional 29 shares in the last quarter. Five Oceans Advisors raised its stake in shares of Broadcom by 0.4% in the 4th quarter. Five Oceans Advisors now owns 8,191 shares of the semiconductor manufacturer’s stock valued at $2,835,000 after purchasing an additional 29 shares during the period. Planning Alternatives Ltd. ADV raised its stake in shares of Broadcom by 1.4% in the 3rd quarter. Planning Alternatives Ltd. ADV now owns 2,168 shares of the semiconductor manufacturer’s stock valued at $715,000 after purchasing an additional 30 shares during the period. Bell Investment Advisors Inc raised its stake in shares of Broadcom by 1.9% in the 3rd quarter. Bell Investment Advisors Inc now owns 1,638 shares of the semiconductor manufacturer’s stock valued at $540,000 after purchasing an additional 30 shares during the period. Finally, Bare Financial Services Inc raised its stake in shares of Broadcom by 11.6% in the 3rd quarter. Bare Financial Services Inc now owns 299 shares of the semiconductor manufacturer’s stock valued at $99,000 after purchasing an additional 31 shares during the period. 76.43% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, insider Charlie B. Kawwas sold 10,000 shares of Broadcom stock in a transaction dated 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 sale, the insider owned 787,184 shares of the company’s stock, valued at approximately $271,759,532.32. The trade was a 1.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider S. Ram Velaga sold 8,000 shares of Broadcom stock in a transaction dated Friday, April 10th. The shares were sold at an average price of $370.52, for a total value of $2,964,160.00. Following the completion of the sale, the insider directly owned 57,932 shares in the company, valued at approximately $21,464,964.64. This represents a 12.13% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 51,233 shares of company stock valued at $18,125,134 in the last quarter. 1.90% of the stock is currently owned by corporate insiders.

Broadcom Price Performance

NASDAQ:AVGO opened at $392.90 on Thursday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.01 and a current ratio of 2.24. The stock’s 50-day simple moving average is $408.66 and its 200 day simple moving average is $363.11. The company has a market cap of $1.87 trillion, a P/E ratio of 65.48, a P/E/G ratio of 0.66 and a beta of 1.41. Broadcom Inc. has a 52-week low of $244.17 and a 52-week 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 business had revenue of $22.19 billion for the quarter, compared to the consensus estimate of $22.13 billion. Broadcom had a return on equity of 41.61% and a net margin of 38.85%.Broadcom’s quarterly revenue was up 47.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.58 earnings per share. As a group, sell-side analysts forecast that Broadcom Inc. will post 10.24 EPS for the current fiscal year.

Broadcom Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 22nd will be given a $0.65 dividend. The ex-dividend date of this dividend is Monday, June 22nd. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.7%. Broadcom’s payout ratio is currently 43.33%.

Wall Street Analysts Forecast Growth

AVGO has been the topic of several recent research reports. Citigroup reissued a “buy” rating on shares of Broadcom in a research note on Thursday, June 4th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $515.00 price target (up from $430.00) on shares of Broadcom in a research note on Thursday, June 4th. Morgan Stanley set a $502.00 price target on Broadcom and gave the company an “overweight” rating in a research note on Thursday, June 4th. UBS Group set a $485.00 price target on Broadcom and gave the company a “buy” rating in a research note on Thursday, June 4th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $525.00 price target on shares of Broadcom in a research note on Thursday, June 4th. One research analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Broadcom has a consensus rating of “Moderate Buy” and an average target price of $490.13.

Trending Headlines about Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: JPMorgan reiterated a bullish stance on Broadcom, saying the market may be underestimating its long-term AI opportunity and calling the shares attractive at current levels. Barrons article
• Positive Sentiment: Other coverage highlighted Broadcom’s “massive AI pipeline” and the company’s growing role in AI infrastructure, reinforcing expectations for multi-year revenue growth. Benzinga article
• Positive Sentiment: Broadcom announced pricing terms for cash tender offers to repurchase portions of its outstanding debt, a move that can support balance-sheet management and financial flexibility. PR Newswire article
• Neutral Sentiment: Commentary on Broadcom’s latest quarter noted strong AI-chip demand and revenue growth, but also pointed to gross margin pressure and cautious guidance, which may be keeping some investors from getting more aggressive. Zacks article
• Negative Sentiment: Some broader AI-stock commentary has compared today’s AI capex boom to the dot-com era, renewing valuation and cycle-risk concerns across the sector that could weigh on sentiment for AVGO. 247WallSt article

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.