MV Capital Management Inc. Invests $1.34 Million in Broadcom Inc. $AVGO

MV Capital Management Inc. bought a new stake in shares of Broadcom Inc. (NASDAQ:AVGO) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 3,864 shares of the semiconductor manufacturer’s stock, valued at approximately $1,337,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Norges Bank acquired a new position in shares of Broadcom during the fourth quarter worth about $24,252,196,000. Cardano Risk Management B.V. grew its stake in shares of Broadcom by 895.2% in the fourth quarter. Cardano Risk Management B.V. now owns 12,689,800 shares of the semiconductor manufacturer’s stock valued at $4,391,940,000 after buying an additional 11,414,701 shares in the last quarter. State Street Corp grew its stake in shares of Broadcom by 2.7% in the fourth quarter. State Street Corp now owns 190,084,351 shares of the semiconductor manufacturer’s stock valued at $65,788,194,000 after buying an additional 5,040,801 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in shares of Broadcom by 499.4% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 5,634,232 shares of the semiconductor manufacturer’s stock valued at $1,858,789,000 after buying an additional 4,694,313 shares during the period. Finally, Vanguard Group Inc. raised its holdings in shares of Broadcom by 0.8% during 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 period. 76.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Citigroup restated a “buy” rating on shares of Broadcom in a report on Thursday, June 4th. Benchmark lifted their price target on shares of Broadcom from $485.00 to $545.00 and gave the stock a “buy” rating in a research note on Thursday, June 4th. Erste Group Bank upgraded shares of Broadcom from a “hold” rating to a “buy” rating in a report on Friday, June 5th. Mizuho raised 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. Finally, Evercore reiterated an “outperform” rating and issued a $582.00 price target on shares of Broadcom in a research note on Tuesday, May 19th. One investment analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Broadcom presently has a consensus rating of “Moderate Buy” and a consensus target price of $490.13.

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

Shares of AVGO stock opened at $411.35 on Friday. The stock has a market capitalization of $1.96 trillion, a price-to-earnings ratio of 68.56, a PEG ratio of 0.72 and a beta of 1.41. The company’s 50-day simple moving average is $411.42 and its 200-day simple moving average is $363.50. 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 one year low of $244.17 and a one year high of $495.00.

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, beating 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 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 business earned $1.58 EPS. The business’s quarterly revenue was up 47.9% on a year-over-year basis. Equities analysts anticipate that Broadcom Inc. will post 10.24 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 22nd will be issued a $0.65 dividend. The ex-dividend date of this dividend is Monday, June 22nd. This represents a $2.60 annualized dividend and a dividend yield of 0.6%. Broadcom’s payout ratio is 43.33%.

Insider Buying and Selling at Broadcom

In other Broadcom news, Director Harry L. You acquired 1,000 shares of the company’s stock in a transaction that occurred on Thursday, June 11th. The shares were purchased at an average price of $373.57 per share, for a total transaction of $373,570.00. Following the completion of the purchase, the director directly owned 38,466 shares in the company, valued at $14,369,743.62. The trade was a 2.67% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Charlie B. Kawwas sold 10,000 shares of the 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 owned 787,184 shares in the company, valued at approximately $271,759,532.32. This trade represents a 1.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 59,385 shares of company stock worth $21,301,057. 1.90% of the stock is owned by company insiders.

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.