Broadcom Inc. $AVGO is Trivest Advisors Ltd’s 3rd Largest Position

Trivest Advisors Ltd increased its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 27.5% during the 4th quarter, HoldingsChannel.com reports. The firm owned 730,000 shares of the semiconductor manufacturer’s stock after purchasing an additional 157,500 shares during the period. Broadcom accounts for 11.5% of Trivest Advisors Ltd’s investment portfolio, making the stock its 3rd biggest position. Trivest Advisors Ltd’s holdings in Broadcom were worth $252,653,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. PBU The Pension Fund of Early Childhood & Youth Educators bought a new position in Broadcom during the fourth quarter worth $39,099,000. WINTON GROUP Ltd lifted its stake in Broadcom by 21.7% during the fourth quarter. WINTON GROUP Ltd now owns 41,611 shares of the semiconductor manufacturer’s stock worth $14,402,000 after purchasing an additional 7,416 shares during the last quarter. EULAV Asset Management lifted its stake in Broadcom by 4.6% during the fourth quarter. EULAV Asset Management now owns 91,030 shares of the semiconductor manufacturer’s stock worth $31,506,000 after purchasing an additional 4,012 shares during the last quarter. Arsenal Capital Advisors LLC bought a new position in Broadcom during the fourth quarter worth $3,848,000. Finally, Petersen Hastings Wealth Advisors Inc. bought a new position in Broadcom during the fourth quarter worth $315,000. 76.43% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. KeyCorp restated an “overweight” rating and set a $575.00 price objective (up from $500.00) on shares of Broadcom in a research note on Thursday. Mizuho raised their price objective on Broadcom from $480.00 to $530.00 and gave the stock an “outperform” rating in a research note on Thursday, June 4th. 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. Rosenblatt Securities restated a “buy” rating and set a $500.00 price objective on shares of Broadcom in a research note on Thursday, June 4th. Finally, JPMorgan Chase & Co. raised their price objective on Broadcom from $500.00 to $580.00 and gave the stock an “overweight” rating in a research note on Thursday, June 4th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Broadcom has a consensus rating of “Moderate Buy” and an average target price of $490.13.

Broadcom Stock Performance

AVGO stock opened at $396.60 on Tuesday. 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 has a market capitalization of $1.88 trillion, a price-to-earnings ratio of 66.10, a PEG ratio of 0.70 and a beta of 1.41. Broadcom Inc. has a 1 year low of $241.11 and a 1 year high of $495.00. The stock’s fifty day moving average is $397.96 and its two-hundred day moving average is $362.43.

Broadcom (NASDAQ:AVGO) last posted 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 company had revenue of $22.19 billion for the quarter, compared to analysts’ expectations of $22.13 billion. Broadcom had a return on equity of 41.61% and a net margin of 38.85%.The firm’s quarterly revenue was up 47.9% compared to the same quarter last year. During the same period last year, the business posted $1.58 earnings per share. On average, research analysts predict that Broadcom Inc. will post 9.97 EPS for the current year.

Broadcom Announces Dividend

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

Insider Buying and Selling

In other news, insider Mark David Brazeal sold 50,488 shares of the firm’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 $16,236,940.80. Following the transaction, the insider directly owned 278,141 shares of the company’s stock, valued at approximately $89,450,145.60. This trade represents a 15.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gayla J. Delly sold 1,000 shares of the firm’s stock in a transaction on Thursday, April 9th. The shares were sold at an average price of $358.31, for a total value of $358,310.00. Following the transaction, the director directly owned 32,352 shares in the company, valued at $11,592,045.12. This trade represents a 3.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 324,282 shares of company stock valued at $106,425,249 in the last three months. 1.90% of the stock is owned by corporate insiders.

Key Stories Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom announced expanded security investments for the Spring and Java ecosystem, aiming to help enterprise customers defend against AI-enabled threats and reinforcing its software strategy. Broadcom Expands Its Investment in Spring and Java Ecosystem Security to Prepare Customers for AI-Enabled Threats
• Positive Sentiment: Several analysts and market commentators said the recent post-earnings decline may be exaggerated, arguing that Broadcom’s strong revenue growth and AI momentum still support the long-term story. Jim Cramer on Broadcom: “The Disappointing Earnings May Not Be as Crushing as We Think”
• Positive Sentiment: Wall Street sentiment remains constructive, with Bank of America raising its price target on Broadcom to $530 from $450 while keeping a Buy rating after the latest quarterly results and guidance. Is Broadcom (AVGO) the Best Stock in Chase Coleman’s Tiger Global?

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.