SFE Investment Counsel Sells 1,788 Shares of Broadcom Inc. $AVGO

SFE Investment Counsel trimmed its stake in Broadcom Inc. (NASDAQ:AVGO) by 3.3% during the fourth quarter, HoldingsChannel.com reports. The fund owned 52,509 shares of the semiconductor manufacturer’s stock after selling 1,788 shares during the period. Broadcom makes up approximately 2.8% of SFE Investment Counsel’s holdings, making the stock its 5th biggest position. SFE Investment Counsel’s holdings in Broadcom were worth $18,173,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Grey Ledge Advisors LLC grew its holdings in shares of Broadcom by 5.3% during the fourth quarter. Grey Ledge Advisors LLC now owns 1,024 shares of the semiconductor manufacturer’s stock valued at $354,000 after buying an additional 52 shares in the last quarter. Foundry Financial Group Inc. grew its holdings in shares of Broadcom by 12.7% during the fourth quarter. Foundry Financial Group Inc. now owns 1,203 shares of the semiconductor manufacturer’s stock valued at $416,000 after buying an additional 136 shares in the last quarter. Catalyst Financial Partners LLC grew its holdings in shares of Broadcom by 5.5% during the fourth quarter. Catalyst Financial Partners LLC now owns 26,044 shares of the semiconductor manufacturer’s stock valued at $9,014,000 after buying an additional 1,352 shares in the last quarter. Moneco Advisors LLC grew its holdings in shares of Broadcom by 4.8% during the fourth quarter. Moneco Advisors LLC now owns 17,849 shares of the semiconductor manufacturer’s stock valued at $6,178,000 after buying an additional 813 shares in the last quarter. Finally, Strategic Family Wealth Counselors L.L.C. grew its holdings in shares of Broadcom by 236.4% during the fourth quarter. Strategic Family Wealth Counselors L.L.C. now owns 7,623 shares of the semiconductor manufacturer’s stock valued at $2,535,000 after buying an additional 5,357 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Broadcom news, insider S. Ram Velaga sold 8,000 shares of the business’s stock in a transaction dated Friday, April 10th. The stock was 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 owned 57,932 shares of the company’s stock, valued at $21,464,964.64. The trade was a 12.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Charlie B. Kawwas sold 10,000 shares of the business’s 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 transaction, the insider directly owned 787,184 shares of the company’s stock, valued at $271,759,532.32. This represents a 1.25% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 324,282 shares of company stock valued at $106,425,249. 1.90% of the stock is owned by corporate insiders.

Broadcom Price Performance

Shares of NASDAQ:AVGO opened at $411.07 on Wednesday. Broadcom Inc. has a fifty-two week low of $226.18 and a fifty-two week high of $442.36. The business has a 50-day moving average of $368.97 and a two-hundred day moving average of $355.08. The stock has a market capitalization of $1.95 trillion, a P/E ratio of 80.29, a P/E/G ratio of 0.87 and a beta of 1.43. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.90 and a quick ratio of 1.73.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 earnings per share for the quarter, topping analysts’ consensus estimates of $2.03 by $0.02. Broadcom had a return on equity of 38.61% and a net margin of 36.57%.The company had revenue of $19.31 billion during the quarter, compared to analysts’ expectations of $19.10 billion. During the same quarter in the previous year, the firm earned $1.60 earnings per share. The business’s quarterly revenue was up 29.5% compared to the same quarter last year. On average, equities research analysts predict that Broadcom Inc. will post 9.97 EPS for the current fiscal year.

Broadcom Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Monday, March 23rd were given a $0.65 dividend. The ex-dividend date of this dividend was Monday, March 23rd. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.6%. Broadcom’s payout ratio is currently 50.78%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Evercore reiterated an “outperform” rating and set a $582.00 price target on shares of Broadcom in a report on Tuesday. Truist Financial lifted their price target on Broadcom from $510.00 to $545.00 and gave the company a “buy” rating in a report on Thursday, March 5th. Citigroup reiterated a “buy” rating and set a $500.00 price target (up from $475.00) on shares of Broadcom in a report on Tuesday, May 12th. TD Cowen reiterated a “buy” rating and set a $500.00 price target (up from $405.00) on shares of Broadcom in a report on Friday. Finally, Benchmark reiterated a “buy” rating and set a $485.00 price target on shares of Broadcom in a report on Thursday, March 5th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $448.10.

Key Broadcom News

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom renewed its long-running technology partnership with LSEG in a new five-year agreement centered on VMware Cloud Foundation, expanding Broadcom’s role in LSEG’s private cloud infrastructure and adding professional services revenue potential. LSEG renews Broadcom partnership to expand cloud infrastructure strategy (AVGO)
• Positive Sentiment: Wall Street remains bullish on AVGO, with recent analyst updates and price targets pointing to confidence in Broadcom’s AI-driven growth and leadership in semiconductor and infrastructure software. Wall Street sets Broadcom stock price target for next 12 months
• Neutral Sentiment: Recent coverage continues to highlight Broadcom as a major AI infrastructure beneficiary, with analysts favoring AVGO over some peers because of its strong AI revenue growth and broad demand trends. ALAB vs. AVGO: Which AI Infrastructure Stock Is the Better Buy Now?
• Neutral Sentiment: Broader market commentary and stock-search interest have kept AVGO in the spotlight, but these items do not point to a direct fundamental change. Investors Heavily Search Broadcom Inc. (AVGO): Here is What You Need to Know
• Negative Sentiment: AVGO had recently been trading lower at times, reflecting some profit-taking even as the longer-term story remains tied to AI and enterprise software growth. Broadcom Inc. (AVGO) Declines More Than Market: Some Information for Investors

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.