Total Wealth Planning & Management Inc. Buys New Position in Broadcom Inc. $AVGO

Total Wealth Planning & Management Inc. bought a new stake in shares of Broadcom Inc. (NASDAQ:AVGO) in the 4th quarter, Holdings Channel.com reports. The firm bought 4,638 shares of the semiconductor manufacturer’s stock, valued at approximately $1,605,000. Broadcom makes up 1.2% of Total Wealth Planning & Management Inc.’s holdings, making the stock its 15th biggest position.

Several other large investors also recently added to or reduced their stakes in AVGO. Vanguard Group Inc. lifted its holdings in Broadcom by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 482,707,302 shares of the semiconductor manufacturer’s stock valued at $167,064,997,000 after purchasing an additional 3,919,715 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Broadcom by 1.4% during the fourth quarter. Geode Capital Management LLC now owns 111,277,280 shares of the semiconductor manufacturer’s stock valued at $38,396,634,000 after purchasing an additional 1,548,699 shares in the last quarter. Norges Bank purchased a new position in Broadcom during the fourth quarter valued at approximately $24,252,196,000. Invesco Ltd. lifted its holdings in Broadcom by 1.8% during the third quarter. Invesco Ltd. now owns 39,149,651 shares of the semiconductor manufacturer’s stock valued at $12,915,861,000 after purchasing an additional 700,021 shares in the last quarter. Finally, Legal & General Group Plc lifted its holdings in Broadcom by 2.3% during the third quarter. Legal & General Group Plc now owns 33,450,786 shares of the semiconductor manufacturer’s stock valued at $11,035,749,000 after purchasing an additional 748,709 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

AVGO has been the topic of several analyst reports. Wall Street Zen raised shares of Broadcom from a “hold” rating to a “buy” rating in a report on Sunday. Truist Financial lifted their price target on shares of Broadcom from $545.00 to $550.00 and gave the company a “buy” rating in a report on Thursday, June 4th. DA Davidson lifted their price target on shares of Broadcom from $375.00 to $400.00 and gave the company a “neutral” rating in a report on Thursday, June 4th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $515.00 price target (up from $430.00) on shares of Broadcom in a report on Thursday. Finally, Bank of America lifted their price target on shares of Broadcom from $450.00 to $530.00 and gave the company a “buy” rating in a report on Thursday, June 4th. One research analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $490.13.

Key Headlines 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?

Insider Activity at Broadcom

In related news, insider Charlie B. Kawwas sold 39,116 shares of the company’s stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $321.61, for a total value of $12,580,096.76. Following the completion of the sale, the insider directly owned 74,626 shares of the company’s stock, valued at $24,000,467.86. This represents a 34.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider S. Ram Velaga sold 38,841 shares of the company’s stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $321.60, for a total transaction of $12,491,265.60. Following the completion of the sale, the insider directly owned 96,147 shares of the company’s stock, valued at approximately $30,920,875.20. This trade represents a 28.77% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 324,282 shares of company stock valued at $106,425,249. Company insiders own 1.90% of the company’s stock.

Broadcom Trading Up 2.8%

Shares of AVGO opened at $396.60 on Tuesday. The company’s fifty day moving average is $397.96 and its 200 day moving average is $362.43. Broadcom Inc. has a fifty-two week low of $241.11 and a fifty-two week high of $495.00. The stock has a market capitalization of $1.88 trillion, a PE ratio of 66.10, a P/E/G ratio of 0.70 and a beta of 1.41. 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 (NASDAQ:AVGO) last posted its quarterly earnings data on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share for the quarter, beating analysts’ consensus estimates of $2.40 by $0.04. Broadcom had a net margin of 38.85% and a return on equity of 41.61%. The business had revenue of $22.19 billion for the quarter, compared to analysts’ expectations of $22.13 billion. During the same quarter in the previous year, the business posted $1.58 earnings per share. The business’s revenue was up 47.9% compared to the same quarter last year. Sell-side analysts expect that Broadcom Inc. will post 9.97 earnings per share for the current fiscal year.

Broadcom Announces Dividend

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

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.