Broadcom Inc. $AVGO Shares Acquired by Platform Technology Partners

Platform Technology Partners lifted its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 59.9% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,614 shares of the semiconductor manufacturer’s stock after purchasing an additional 2,104 shares during the period. Platform Technology Partners’ holdings in Broadcom were worth $1,737,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of AVGO. Vanguard Group Inc. increased its stake 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 during the last quarter. State Street Corp raised its holdings in shares of Broadcom by 2.7% during the fourth quarter. State Street Corp now owns 190,084,351 shares of the semiconductor manufacturer’s stock worth $65,788,194,000 after purchasing an additional 5,040,801 shares during the period. Geode Capital Management LLC lifted its position in shares of Broadcom by 1.4% in the 4th quarter. Geode Capital Management LLC now owns 111,277,280 shares of the semiconductor manufacturer’s stock worth $38,396,634,000 after buying an additional 1,548,699 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Broadcom by 3.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 85,546,083 shares of the semiconductor manufacturer’s stock worth $29,607,500,000 after buying an additional 2,491,644 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Broadcom in the 4th quarter valued at about $24,252,196,000. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Broadcom

In other news, insider Charlie B. Kawwas sold 10,000 shares of the stock in a transaction on 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 completion of the transaction, the insider owned 787,184 shares of the company’s stock, valued at approximately $271,759,532.32. This represents a 1.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider S. Ram Velaga sold 17,260 shares of the firm’s stock in a transaction on Thursday, April 9th. The shares were sold at an average price of $352.12, for a total value of $6,077,591.20. Following the transaction, the insider directly owned 65,932 shares in the company, valued at $23,215,975.84. This trade represents a 20.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 60,987 shares of company stock worth $21,899,980 in the last ninety days. 1.90% of the stock is currently owned by corporate insiders.

Broadcom Stock Performance

Shares of NASDAQ:AVGO traded down $9.17 during trading hours on Tuesday, hitting $364.73. The stock had a trading volume of 4,370,772 shares, compared to its average volume of 26,293,332. The stock’s fifty day simple moving average is $407.92 and its 200 day simple moving average is $362.49. The firm has a market capitalization of $1.74 trillion, a price-to-earnings ratio of 60.79, a PEG ratio of 0.63 and a beta of 1.45. 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 Inc. has a 1-year low of $269.58 and a 1-year high of $495.00.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.40 by $0.04. Broadcom had a return on equity of 41.61% and a net margin of 38.85%.The business had revenue of $22.19 billion during the quarter, compared to the consensus estimate of $22.13 billion. During the same period in the previous year, the firm posted $1.58 earnings per share. The business’s revenue was up 47.9% on a year-over-year basis. Sell-side analysts anticipate that Broadcom Inc. will post 10.24 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders 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 yield of 0.7%. The ex-dividend date was Monday, June 22nd. Broadcom’s payout ratio is 43.33%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on AVGO. Wall Street Zen raised shares of Broadcom from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, July 1st. Mizuho lifted their target price on Broadcom from $480.00 to $530.00 and gave the company an “outperform” rating in a research note on Thursday, June 4th. Weiss Ratings lowered Broadcom from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday, June 26th. Dbs Bank upgraded Broadcom to a “moderate buy” rating in a research report on Thursday, June 18th. Finally, TD Cowen reissued a “buy” rating and issued a $500.00 price target on shares of Broadcom in a report on Thursday, June 4th. One analyst has rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $493.24.

Trending Headlines about Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom’s expanded partnership with Apple through 2031 should support long-term chip demand and strengthen confidence in its custom silicon growth story. Reuters: Broadcom, Apple extend chip partnership through 2031
• Positive Sentiment: Broadcom is being highlighted as a key AI infrastructure and edge-AI player, which supports the stock’s premium valuation. Seeking Alpha: Broadcom’s AI Infrastructure Model Justifies Its Premium Valuation
• Positive Sentiment: Analyst and investor commentary continues to point to Broadcom’s custom AI silicon growth as a reason estimates may keep moving higher. Yahoo Finance: Why Broadcom Inc.’s Custom AI Silicon Growth Still Supports Its Estimate Story
• Neutral Sentiment: Broader semiconductor momentum has helped AVGO alongside other chip names, adding a sector tailwind to the stock. Yahoo Finance: Allegro MicroSystems and Penguin Solutions Shares Skyrocket
• Negative Sentiment: Some recent coverage warns that Broadcom’s largest AI customer may be shifting business to MediaTek, which could raise questions about customer concentration in its AI chip franchise. MSN: Broadcom’s largest AI customer is fleeing to MediaTek
• Negative Sentiment: One analyst note also said AVGO had been under pressure recently after a weaker near-term outlook and limited improvement to the longer-term AI revenue picture. Zacks: Broadcom Drops 9% in a Month

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.