EJMK Ventures LLC Invests $3.35 Million in Broadcom Inc. $AVGO

EJMK Ventures LLC acquired a new position in shares of Broadcom Inc. (NASDAQ:AVGO) in the fourth quarter, HoldingsChannel reports. The fund acquired 9,672 shares of the semiconductor manufacturer’s stock, valued at approximately $3,348,000. Broadcom accounts for 2.1% of EJMK Ventures LLC’s holdings, making the stock its 9th biggest holding.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. ROSS JOHNSON & Associates LLC grew its position in shares of Broadcom by 1,320.0% during the 4th quarter. ROSS JOHNSON & Associates LLC now owns 71 shares of the semiconductor manufacturer’s stock worth $25,000 after buying an additional 66 shares during the period. SWAN Capital LLC increased its stake in shares of Broadcom by 261.9% in the 4th quarter. SWAN Capital LLC now owns 76 shares of the semiconductor manufacturer’s stock valued at $26,000 after acquiring an additional 55 shares during the last quarter. Miller Global Investments LLC acquired a new stake in shares of Broadcom in the 4th quarter valued at approximately $31,000. Nvest Wealth Strategies Inc. bought a new position in Broadcom during the 4th quarter worth approximately $33,000. Finally, Family CFO Inc bought a new position in Broadcom during the 4th quarter worth approximately $35,000. Institutional investors own 76.43% of the company’s stock.

Analyst Upgrades and Downgrades

AVGO has been the topic of several analyst reports. Rosenblatt Securities reiterated a “buy” rating and issued a $500.00 target price on shares of Broadcom in a report on Thursday, June 4th. Jefferies Financial Group set a $550.00 price target on shares of Broadcom and gave the company a “buy” rating in a report on Thursday, June 4th. Weiss Ratings upgraded shares of Broadcom from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, June 9th. DA Davidson raised their price objective on Broadcom from $375.00 to $400.00 and gave the stock a “neutral” rating in a research note on Thursday, June 4th. Finally, Royal Bank Of Canada lifted their target price on Broadcom from $360.00 to $400.00 and gave the stock a “sector perform” rating in a report on Thursday, June 4th. One investment analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, Broadcom presently has a consensus rating of “Moderate Buy” and a consensus price target of $490.13.

Key Broadcom News

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom’s debt tender offer was upsized to $3 billion after strong investor demand, signaling active balance-sheet management and reinforcing investor confidence. Broadcom Inc. Announces Results and Upsize of Offers to Purchase for Cash Certain of its Outstanding Debt Securities
• Positive Sentiment: JPMorgan remained bullish on Broadcom, saying investors should be “aggressive buyers,” which supports the view that the market may still be underestimating AVGO’s AI growth. AVGO stock jumps — JPMorgan says investors should be ‘aggressive buyers’ of Broadcom at current levels
• Positive Sentiment: Citi also called Broadcom a top chip stock on strong data-center demand, adding another bullish Wall Street view tied to AI infrastructure spending. Citi Touts Broadcom Inc. (AVGO) as a Top Chip Stock on Soaring Data Center Demand
• Positive Sentiment: One report said VMware, Broadcom’s second-largest business, may be set to accelerate, which could broaden growth beyond the company’s AI chip exposure. VMware: Broadcom’s Second Biggest Business Set to Accelerate
• Neutral Sentiment: Insider Mark David Brazeal sold shares in two June transactions, but the sales were relatively small versus his remaining stake and do not necessarily change the broader investment thesis. Mark David Brazeal insider trading page
• Negative Sentiment: One analyst warned that chip valuations are getting stretched and suggested investors could consider alternatives, including Broadcom, which may temper enthusiasm if valuation concerns intensify. Analyst Warns Intel Valuation ‘Doesn’t Make Sense.’ Suggests NVIDIA, AMD, Micron, and Broadcom as Alternatives.

Broadcom Stock Performance

Shares of AVGO opened at $411.35 on Friday. 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 Inc. has a twelve month low of $244.17 and a twelve month high of $495.00. The firm’s 50 day moving average price is $411.42 and its two-hundred day moving average price is $363.50. The firm has a market cap of $1.96 trillion, a P/E ratio of 68.56, a PEG ratio of 0.72 and a beta of 1.41.

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, beating the consensus estimate of $2.40 by $0.04. Broadcom had a net margin of 38.85% and a return on equity of 41.61%. The company had revenue of $22.19 billion during the quarter, compared to analysts’ expectations of $22.13 billion. During the same quarter in the prior year, the company earned $1.58 earnings per share. The business’s quarterly revenue was up 47.9% compared to the same quarter last year. On average, 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 paid 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 yield of 0.6%. Broadcom’s dividend payout ratio is presently 43.33%.

Insider Transactions at Broadcom

In other news, Director Harry L. You bought 1,000 shares of the stock in a transaction on Thursday, June 11th. The stock was purchased at an average price of $373.57 per share, for a total transaction of $373,570.00. Following the acquisition, the director owned 38,466 shares in the company, valued at approximately $14,369,743.62. This trade represents a 2.67% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Charlie B. Kawwas sold 10,000 shares of Broadcom stock in a transaction dated Wednesday, April 8th. The shares were sold at an average price of $345.23, for a total value of $3,452,300.00. Following the completion of the sale, the insider directly owned 787,184 shares in the company, valued at $271,759,532.32. This represents a 1.25% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 59,385 shares of company stock worth $21,301,057. Company insiders own 1.90% of the company’s stock.

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.