Fort Point Capital Partners LLC Raises Holdings in Broadcom Inc. $AVGO

Fort Point Capital Partners LLC raised its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 468.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 52,424 shares of the semiconductor manufacturer’s stock after purchasing an additional 43,203 shares during the period. Broadcom makes up about 2.0% of Fort Point Capital Partners LLC’s investment portfolio, making the stock its 11th largest holding. Fort Point Capital Partners LLC’s holdings in Broadcom were worth $17,983,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Brown Brothers Harriman & Co. lifted its holdings in shares of Broadcom by 10.7% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 77,411 shares of the semiconductor manufacturer’s stock valued at $25,539,000 after buying an additional 7,499 shares during the period. Dana Investment Advisors Inc. lifted its holdings in shares of Broadcom by 2.6% during the 3rd quarter. Dana Investment Advisors Inc. now owns 173,759 shares of the semiconductor manufacturer’s stock valued at $57,325,000 after buying an additional 4,442 shares during the period. Sovran Advisors LLC lifted its holdings in shares of Broadcom by 121.3% during the 4th quarter. Sovran Advisors LLC now owns 30,631 shares of the semiconductor manufacturer’s stock valued at $10,507,000 after buying an additional 16,789 shares during the period. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in shares of Broadcom by 406.1% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 11,994 shares of the semiconductor manufacturer’s stock valued at $4,151,000 after buying an additional 9,624 shares during the period. Finally, Siligmueller & Norvid Wealth Advisors LLC bought a new position in shares of Broadcom during the 3rd quarter valued at $762,000. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Broadcom Price Performance

Shares of Broadcom stock opened at $382.07 on Monday. Broadcom Inc. has a one year low of $244.17 and a one year high of $495.00. The stock’s fifty day moving average is $404.26 and its 200 day moving average is $363.22. The stock has a market cap of $1.82 trillion, a P/E ratio of 63.68, a P/E/G ratio of 0.67 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 announced its earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 EPS for the quarter, topping analysts’ consensus estimates of $2.40 by $0.04. Broadcom had a return on equity of 41.61% and a net margin of 38.85%.The company had revenue of $22.19 billion for the quarter, compared to analysts’ expectations of $22.13 billion. During the same period last year, the firm earned $1.58 EPS. Broadcom’s revenue for the quarter was up 47.9% compared to the same quarter last year. Sell-side analysts anticipate that Broadcom Inc. will post 10.24 earnings per share for the current year.

Broadcom Dividend Announcement

The firm also recently declared 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 of this dividend is Monday, June 22nd. This represents a $2.60 dividend on an annualized basis and a yield of 0.7%. Broadcom’s dividend payout ratio (DPR) is currently 43.33%.

Broadcom News Summary

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom’s quarterly results were very strong, with revenue up 48% to a record $22.2 billion, semiconductor revenue up 79%, AI semiconductor revenue up 143% to $10.8 billion, and more than $30 billion in AI bookings, suggesting demand remains robust. Article Title
• Positive Sentiment: Several analysts and commentators argue the recent drop could be a buying opportunity, saying Broadcom remains a core infrastructure winner in AI and that Wall Street’s long-term outlook is still constructive. Article Title
• Positive Sentiment: Fresh coverage highlighted Broadcom as one of the stocks with catalysts heading into the second half of the year, and some analysts have raised earnings forecasts and price targets despite the selloff. Article Title
• Neutral Sentiment: Jim Cramer said Broadcom’s earnings were “not good” and suggested tech stocks are harder to trust as leadership names, reflecting a more cautious market mood around the stock. Article Title
• Neutral Sentiment: Broadcom also announced cash tender offers for certain outstanding debt securities, a routine balance-sheet move that is unlikely to move the stock by itself. Article Title
• Negative Sentiment: Market commentary says the stock is being punished because investors are nitpicking Broadcom’s AI outlook and pricing the shares as if growth must keep accelerating without any hiccups. Article Title
• Negative Sentiment: One note warned that Broadcom told investors to expect gross profit margins to continue falling, reinforcing concerns that profitability may soften even as revenue grows. Article Title

Analysts Set New Price Targets

AVGO has been the topic of several research analyst reports. TD Cowen reissued a “buy” rating and set a $500.00 price target on shares of Broadcom in a report on Thursday, June 4th. Seaport Research Partners reissued a “neutral” rating on shares of Broadcom in a report on Wednesday, April 8th. Wells Fargo & Company reissued an “overweight” rating and set a $545.00 price target (up from $430.00) on shares of Broadcom in a report on Thursday, May 14th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $515.00 price target (up from $430.00) on shares of Broadcom in a report on Thursday, June 4th. Finally, Susquehanna reaffirmed a “positive” rating and issued a $490.00 target price (up from $450.00) on shares of Broadcom in a report on Thursday, May 28th. One analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Broadcom has a consensus rating of “Moderate Buy” and an average price target of $490.13.

Insider Buying and Selling at Broadcom

In other Broadcom news, insider Charlie B. Kawwas sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, April 8th. The stock was sold at an average price of $345.23, for a total transaction of $3,452,300.00. Following the sale, the insider directly owned 787,184 shares of the company’s stock, valued at $271,759,532.32. This trade represents a 1.25% 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, Director Gayla J. Delly sold 1,000 shares of the firm’s stock in a transaction dated Thursday, April 9th. The shares were sold at an average price of $358.31, for a total value of $358,310.00. Following the sale, the director directly owned 32,352 shares in the company, valued at approximately $11,592,045.12. This represents a 3.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 215,970 shares of company stock valued at $71,104,945. 1.90% of the stock is currently owned by corporate insiders.

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.