Peninsula Asset Management Inc. Raises Stake in Broadcom Inc. $AVGO

Peninsula Asset Management Inc. increased its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 59.3% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 11,571 shares of the semiconductor manufacturer’s stock after buying an additional 4,309 shares during the period. Broadcom comprises about 1.8% of Peninsula Asset Management Inc.’s holdings, making the stock its 21st biggest position. Peninsula Asset Management Inc.’s holdings in Broadcom were worth $3,581,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. Brighton Jones LLC increased its stake in shares of Broadcom by 21.8% during 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 last quarter. Revolve Wealth Partners LLC grew its holdings in Broadcom by 10.4% during the fourth quarter. Revolve Wealth Partners LLC now owns 7,997 shares of the semiconductor manufacturer’s stock valued at $1,854,000 after purchasing an additional 756 shares during the period. United Bank increased its position in Broadcom by 76.5% in the first quarter. United Bank now owns 2,339 shares of the semiconductor manufacturer’s stock worth $392,000 after buying an additional 1,014 shares during the last quarter. Sivia Capital Partners LLC raised its stake in shares of Broadcom by 10.1% in the second quarter. Sivia Capital Partners LLC now owns 12,693 shares of the semiconductor manufacturer’s stock valued at $3,499,000 after buying an additional 1,160 shares during the period. Finally, Capital & Planning LLC lifted its position in shares of Broadcom by 10.5% during the 2nd quarter. Capital & Planning LLC now owns 3,983 shares of the semiconductor manufacturer’s stock valued at $1,098,000 after buying an additional 378 shares during the last quarter. Institutional investors own 76.43% of the company’s stock.

Broadcom News Summary

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

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on AVGO shares. The Goldman Sachs Group restated a “buy” rating and issued a $525.00 price objective on shares of Broadcom in a research note on Thursday, June 4th. Mizuho increased 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. Jefferies Financial Group set a $550.00 price target on shares of Broadcom and gave the company a “buy” rating in a research report on Thursday, June 4th. DA Davidson raised their price objective on shares of Broadcom from $375.00 to $400.00 and gave the stock a “neutral” rating in a report on Thursday, June 4th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $515.00 price objective (up from $430.00) 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-eight have issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $493.24.

Broadcom Trading Down 1.0%

Shares of Broadcom stock opened at $370.83 on Friday. Broadcom Inc. has a 12-month low of $273.00 and a 12-month high of $495.00. The company 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. The company has a current ratio of 2.24, a quick ratio of 2.01 and a debt-to-equity ratio of 0.71. The company’s 50-day moving average price is $401.29 and its 200-day moving average price is $365.31.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 EPS for the quarter, beating the consensus estimate of $2.40 by $0.04. The company had revenue of $22.19 billion during 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%. Broadcom’s revenue for the quarter was up 47.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.58 earnings per share. On average, equities analysts expect 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 was paid on Tuesday, June 30th. Stockholders of record on Monday, June 22nd were given 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 was Monday, June 22nd. Broadcom’s payout ratio is 43.33%.

Insider Activity

In related news, insider Mark David Brazeal sold 25,000 shares of the stock in a transaction on Friday, July 10th. The stock was sold at an average price of $401.33, for a total value of $10,033,250.00. Following the sale, the insider owned 194,989 shares in the company, valued at approximately $78,254,935.37. This trade represents a 11.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Justine Page sold 1,602 shares of Broadcom stock in a transaction 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 of the company’s stock, valued at $6,514,884.36. This represents a 8.42% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 61,644 shares of company stock worth $24,016,214. Company insiders own 1.90% of the company’s stock.

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.