Gotham Asset Management LLC Buys 12,356 Shares of Broadcom Inc. $AVGO

Gotham Asset Management LLC raised its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 3.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 333,654 shares of the semiconductor manufacturer’s stock after purchasing an additional 12,356 shares during the period. Broadcom accounts for about 0.4% of Gotham Asset Management LLC’s portfolio, making the stock its 13th biggest position. Gotham Asset Management LLC’s holdings in Broadcom were worth $115,478,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of AVGO. Brighton Jones LLC grew its holdings in Broadcom by 21.8% during the 4th quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer’s stock valued at $6,882,000 after purchasing an additional 5,322 shares during the last quarter. Revolve Wealth Partners LLC lifted its stake in Broadcom by 10.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 7,997 shares of the semiconductor manufacturer’s stock worth $1,854,000 after purchasing an additional 756 shares during the last quarter. United Bank boosted its position in shares of Broadcom by 76.5% during the first quarter. United Bank now owns 2,339 shares of the semiconductor manufacturer’s stock valued at $392,000 after buying an additional 1,014 shares during the period. Sivia Capital Partners LLC grew its stake in shares of Broadcom by 10.1% during the second quarter. Sivia Capital Partners LLC now owns 12,693 shares of the semiconductor manufacturer’s stock valued at $3,499,000 after buying an additional 1,160 shares during the last quarter. Finally, Capital & Planning LLC raised its holdings in shares of Broadcom by 10.5% in the second quarter. Capital & Planning LLC now owns 3,983 shares of the semiconductor manufacturer’s stock worth $1,098,000 after buying an additional 378 shares during the period. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Insider Buying and Selling at Broadcom

In other Broadcom news, Director Harry L. You purchased 1,000 shares of Broadcom stock in a transaction dated Thursday, June 11th. The shares were acquired at an average cost of $373.57 per share, with a total value of $373,570.00. Following the completion of the transaction, the director owned 38,466 shares in the company, valued at approximately $14,369,743.62. This trade represents a 2.67% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Justine Page sold 2,018 shares of the firm’s stock in a transaction on Wednesday, April 8th. The stock was sold at an average price of $353.00, for a total value of $712,354.00. Following the completion of the sale, the director directly owned 18,164 shares of the company’s stock, valued at $6,411,892. The trade was a 10.00% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 51,233 shares of company stock valued at $18,125,134. Corporate insiders own 1.90% of the company’s stock.

Analysts Set New Price Targets

AVGO has been the topic of several research analyst reports. Morgan Stanley set a $502.00 price objective on Broadcom and gave the company an “overweight” rating in a research report on Thursday, June 4th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $515.00 target price (up from $430.00) on shares of Broadcom in a research note on Thursday, June 4th. Citigroup restated a “buy” rating on shares of Broadcom in a report on Thursday, June 4th. Oppenheimer reiterated an “outperform” rating and set a $535.00 price objective (up from $450.00) on shares of Broadcom in a report on Thursday, June 4th. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $525.00 price objective on shares of Broadcom in a research report on Thursday, June 4th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, Broadcom has an average rating of “Moderate Buy” and a consensus target price of $490.13.

Broadcom Stock Performance

Shares of Broadcom stock opened at $392.90 on Thursday. The company has a market capitalization of $1.87 trillion, a PE ratio of 65.48, a P/E/G ratio of 0.66 and a beta of 1.41. The company has a 50-day simple moving average of $408.66 and a two-hundred day simple moving average of $363.11. Broadcom Inc. has a one year low of $244.17 and a one year high of $495.00. 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 issued its quarterly earnings data on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.40 by $0.04. The firm had revenue of $22.19 billion for the quarter, compared to the consensus estimate of $22.13 billion. Broadcom had a net margin of 38.85% and a return on equity of 41.61%. The company’s quarterly revenue was up 47.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.58 EPS. Research analysts expect that Broadcom Inc. will post 10.24 EPS for the current fiscal year.

Broadcom Announces Dividend

The company 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 $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Monday, June 22nd. Broadcom’s payout ratio is currently 43.33%.

Broadcom News Summary

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: JPMorgan reiterated a bullish stance on Broadcom, saying the market may be underestimating its long-term AI opportunity and calling the shares attractive at current levels. Barrons article
• Positive Sentiment: Other coverage highlighted Broadcom’s “massive AI pipeline” and the company’s growing role in AI infrastructure, reinforcing expectations for multi-year revenue growth. Benzinga article
• Positive Sentiment: Broadcom announced pricing terms for cash tender offers to repurchase portions of its outstanding debt, a move that can support balance-sheet management and financial flexibility. PR Newswire article
• Neutral Sentiment: Commentary on Broadcom’s latest quarter noted strong AI-chip demand and revenue growth, but also pointed to gross margin pressure and cautious guidance, which may be keeping some investors from getting more aggressive. Zacks article
• Negative Sentiment: Some broader AI-stock commentary has compared today’s AI capex boom to the dot-com era, renewing valuation and cycle-risk concerns across the sector that could weigh on sentiment for AVGO. 247WallSt article

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.