NWF Advisory Services Inc. Purchases 2,059 Shares of Broadcom Inc. $AVGO

NWF Advisory Services Inc. raised its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 19.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,584 shares of the semiconductor manufacturer’s stock after buying an additional 2,059 shares during the period. NWF Advisory Services Inc.’s holdings in Broadcom were worth $4,355,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Norges Bank bought a new stake in shares of Broadcom during the fourth quarter valued at approximately $24,252,196,000. Cardano Risk Management B.V. raised its position in Broadcom by 895.2% in the 4th quarter. Cardano Risk Management B.V. now owns 12,689,800 shares of the semiconductor manufacturer’s stock worth $4,391,940,000 after purchasing an additional 11,414,701 shares during the last quarter. State Street Corp lifted its holdings in Broadcom by 2.7% during the 4th quarter. State Street Corp now owns 190,084,351 shares of the semiconductor manufacturer’s stock worth $65,788,194,000 after buying an additional 5,040,801 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in Broadcom by 499.4% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 5,634,232 shares of the semiconductor manufacturer’s stock worth $1,858,789,000 after buying an additional 4,694,313 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in Broadcom by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 482,707,302 shares of the semiconductor manufacturer’s stock valued at $167,064,997,000 after buying an additional 3,919,715 shares during the last quarter. Institutional investors own 76.43% of the company’s stock.

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

AVGO stock opened at $411.35 on Friday. Broadcom Inc. has a twelve month low of $244.17 and a twelve month high of $495.00. The company has a quick ratio of 2.01, a current ratio of 2.24 and a debt-to-equity ratio of 0.71. The company has a market cap of $1.96 trillion, a P/E ratio of 68.56, a price-to-earnings-growth ratio of 0.72 and a beta of 1.41. The business’s fifty day moving average is $411.42 and its 200-day moving average is $363.50.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 EPS for the quarter, topping analysts’ consensus estimates of $2.40 by $0.04. The business had revenue of $22.19 billion during 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 in the previous year, the firm earned $1.58 earnings per share. Equities research analysts forecast that Broadcom Inc. will post 10.24 EPS for the current year.

Broadcom Dividend Announcement

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 issued a dividend of $0.65 per share. The ex-dividend date 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 (DPR) is 43.33%.

Wall Street Analysts Forecast Growth

AVGO has been the subject of several research reports. JPMorgan Chase & Co. lifted their target price on Broadcom from $500.00 to $580.00 and gave the company an “overweight” rating in a research note on Thursday, June 4th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $525.00 price target on shares of Broadcom in a report on Thursday, June 4th. Susquehanna reiterated a “positive” rating and issued a $490.00 price objective (up from $450.00) on shares of Broadcom in a research report on Thursday, May 28th. Royal Bank Of Canada boosted their price objective on Broadcom from $360.00 to $400.00 and gave the stock a “sector perform” rating in a report on Thursday, June 4th. Finally, Wall Street Zen upgraded shares of Broadcom from a “buy” rating to a “strong-buy” rating in a research report on Monday, June 15th. One investment analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $490.13.

Insider Activity at Broadcom

In other news, Director Harry L. You purchased 1,000 shares of the business’s stock in a transaction that occurred on Thursday, June 11th. The shares were acquired at an average cost of $373.57 per share, for a total transaction of $373,570.00. Following the transaction, the director directly owned 38,466 shares of the company’s stock, valued at approximately $14,369,743.62. The trade was a 2.67% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, Director Justine Page sold 2,018 shares of Broadcom stock in a transaction that occurred on Wednesday, April 8th. The stock was sold at an average price of $353.00, for a total transaction of $712,354.00. Following the transaction, the director directly owned 18,164 shares in the company, valued at $6,411,892. The trade was a 10.00% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 59,385 shares of company stock worth $21,301,057. 1.90% of the stock is owned by company insiders.

About Broadcom

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.