Broadcom Inc. $AVGO Shares Sold by John G Ullman & Associates Inc.

John G Ullman & Associates Inc. lowered its holdings in Broadcom Inc. (NASDAQ:AVGO) by 6.8% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 58,205 shares of the semiconductor manufacturer’s stock after selling 4,240 shares during the quarter. Broadcom accounts for 2.4% of John G Ullman & Associates Inc.’s holdings, making the stock its 7th largest holding. John G Ullman & Associates Inc.’s holdings in Broadcom were worth $18,015,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Sovran Advisors LLC increased its holdings in Broadcom by 121.3% in the 4th quarter. Sovran Advisors LLC now owns 30,631 shares of the semiconductor manufacturer’s stock valued at $10,507,000 after purchasing an additional 16,789 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. lifted its stake in Broadcom by 406.1% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 11,994 shares of the semiconductor manufacturer’s stock worth $4,151,000 after purchasing an additional 9,624 shares in the last quarter. Aspiriant LLC boosted its position in shares of Broadcom by 18.5% during the fourth quarter. Aspiriant LLC now owns 12,016 shares of the semiconductor manufacturer’s stock worth $4,158,000 after buying an additional 1,872 shares during the period. World Investment Advisors boosted its position in shares of Broadcom by 16.1% during the fourth quarter. World Investment Advisors now owns 177,710 shares of the semiconductor manufacturer’s stock worth $61,505,000 after buying an additional 24,703 shares during the period. Finally, Western Financial Corp CA grew its stake in shares of Broadcom by 90.5% in the fourth quarter. Western Financial Corp CA now owns 6,481 shares of the semiconductor manufacturer’s stock valued at $2,243,000 after buying an additional 3,079 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Seaport Research Partners reiterated a “neutral” rating on shares of Broadcom in a report on Wednesday, April 8th. Weiss Ratings raised Broadcom from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, July 15th. The Goldman Sachs Group reiterated a “buy” rating and set a $525.00 price target on shares of Broadcom in a research note on Thursday, June 4th. Oppenheimer reissued an “outperform” rating and set a $535.00 price target (up from $450.00) on shares of Broadcom in a research report on Thursday, June 4th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Broadcom from $500.00 to $580.00 and gave the company an “overweight” rating in a research note on Thursday, June 4th. One investment analyst has rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $493.24.

Broadcom Trading Up 2.0%

AVGO opened at $378.16 on Tuesday. Broadcom Inc. has a 12 month low of $273.00 and a 12 month high of $495.00. The stock has a market capitalization of $1.80 trillion, a price-to-earnings ratio of 63.03, a PEG ratio of 0.65 and a beta of 1.45. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.24 and a quick ratio of 2.01. The business has a fifty day moving average price of $400.28 and a 200 day moving average price of $365.62.

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

Broadcom Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 22nd were paid a $0.65 dividend. The ex-dividend date was Monday, June 22nd. This represents a $2.60 dividend on an annualized basis and a yield of 0.7%. Broadcom’s payout ratio is currently 43.33%.

Broadcom News Roundup

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Morgan Stanley said Broadcom remains one of its preferred ways to play the AI infrastructure buildout, calling AVGO an attractive risk-reward name after the recent semiconductor pullback. Broadcom stock gains 2% today: here’s why
• Positive Sentiment: Analysts and market commentary highlighted Broadcom as a high-cash-flow AI chip stock that could benefit as investors look for quality names amid market volatility. 4 High Cash-Producing AI Chip Stocks to Buy Amid Market Uncertainties
• Positive Sentiment: Broadcom’s AI business is being viewed as a key driver of the investment case, with reports noting strong AI chip revenue growth and a larger shift toward AI-related mix. AMD vs. Broadcom: The Better AI-Chip Stock to Buy After the Sell-Off
• Positive Sentiment: Broadcom also announced a major infrastructure software deal with Standard Chartered to modernize banking cloud operations across 54 markets, which supports its VMware-based software revenue stream. Broadcom (AVGO) Lands Standard Chartered Deal To Power Banking Cloud In 54 Markets
• Neutral Sentiment: Broadcom was included in broader “buy the dip” chip-sector commentary as investors looked for value after the recent memory and AI semiconductor sell-off. The Memory Stock Sell-Off Created a ‘Strong Entry Point,’ Says Morgan Stanley. Investors Are Buying In.
• Negative Sentiment: Recent articles also noted that semiconductor stocks had fallen into a bear market after a sharp index decline, reflecting ongoing sectorwide pressure that could cap gains for AVGO. Semiconductor stocks enter bear market: Is bubble burst next?

Insider Activity

In other news, Director Justine Page sold 1,602 shares of the firm’s stock in a transaction on Monday, June 29th. The shares were sold at an average price of $373.86, for a total value of $598,923.72. Following the sale, the director directly owned 17,426 shares in the company, valued at approximately $6,514,884.36. This trade represents a 8.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Mark David Brazeal sold 25,000 shares of Broadcom stock in a transaction on Friday, July 10th. The stock was sold at an average price of $401.33, for a total transaction of $10,033,250.00. Following the sale, the insider directly owned 194,989 shares of the company’s stock, valued at approximately $78,254,935.37. This trade represents a 11.36% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 61,644 shares of company stock worth $24,016,214 over the last three months. Insiders own 1.90% of the company’s stock.

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.