Worth Asset Management LLC Decreases Position in Broadcom Inc. $AVGO

Worth Asset Management LLC decreased its holdings in Broadcom Inc. (NASDAQ:AVGO) by 59.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,552 shares of the semiconductor manufacturer’s stock after selling 3,678 shares during the quarter. Worth Asset Management LLC’s holdings in Broadcom were worth $790,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Brighton Jones LLC increased its holdings in shares of Broadcom by 21.8% during the fourth quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer’s stock valued at $6,882,000 after acquiring an additional 5,322 shares in the last quarter. Revolve Wealth Partners LLC grew its stake in Broadcom by 10.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 7,997 shares of the semiconductor manufacturer’s stock valued at $1,854,000 after purchasing an additional 756 shares during the last quarter. United Bank increased its holdings in shares of Broadcom by 76.5% in the first quarter. United Bank now owns 2,339 shares of the semiconductor manufacturer’s stock valued at $392,000 after purchasing an additional 1,014 shares during the period. Sivia Capital Partners LLC raised its stake in shares of Broadcom by 10.1% in the second quarter. Sivia Capital Partners LLC now owns 12,693 shares of the semiconductor manufacturer’s stock worth $3,499,000 after purchasing an additional 1,160 shares during the last quarter. Finally, Capital & Planning LLC raised its stake 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 purchasing an additional 378 shares during the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

Broadcom Price Performance

Shares of Broadcom stock opened at $378.91 on Friday. The company has a quick ratio of 2.01, a current ratio of 2.24 and a debt-to-equity ratio of 0.71. Broadcom Inc. has a twelve month low of $262.66 and a twelve month high of $495.00. The business has a 50-day moving average price of $412.34 and a 200 day moving average price of $363.34. The firm has a market cap of $1.80 trillion, a PE ratio of 63.15, a P/E/G ratio of 0.67 and a beta of 1.41.

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

Broadcom Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 22nd will be given a dividend of $0.65 per share. The ex-dividend date is Monday, June 22nd. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.7%. Broadcom’s dividend payout ratio (DPR) is 43.33%.

Insider Activity

In other Broadcom news, insider S. Ram Velaga sold 17,260 shares of the company’s stock in a transaction on Thursday, April 9th. The shares were sold at an average price of $352.12, for a total transaction of $6,077,591.20. Following the completion of the transaction, the insider directly owned 65,932 shares in the company, valued at approximately $23,215,975.84. This represents a 20.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Harry L. You acquired 1,000 shares of the firm’s stock in a transaction on Thursday, June 11th. The shares were bought at an average cost of $373.57 per share, for a total transaction of $373,570.00. Following the completion of the acquisition, the director owned 38,466 shares of the company’s stock, valued at approximately $14,369,743.62. This represents a 2.67% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders have sold 59,385 shares of company stock worth $21,301,057. Insiders own 1.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on AVGO shares. Benchmark upped their target price on Broadcom from $485.00 to $545.00 and gave the company a “buy” rating in a research report on Thursday, June 4th. Cantor Fitzgerald reissued an “overweight” rating and set a $525.00 price target on shares of Broadcom in a research report on Thursday, June 4th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $515.00 price objective (up from $430.00) on shares of Broadcom in a research note on Thursday, June 4th. Erste Group Bank raised shares of Broadcom from a “hold” rating to a “buy” rating in a report on Friday, June 5th. Finally, Royal Bank Of Canada boosted their price objective on Broadcom from $360.00 to $400.00 and gave the company a “sector perform” rating in a 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 assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $493.24.

Trending Headlines about Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom and OpenAI unveiled Jalapeño, a custom AI inference chip that could strengthen Broadcom’s role in next-generation AI infrastructure and generate new demand for its networking and accelerator products. Reuters article on OpenAI/Broadcom custom chip
• Positive Sentiment: Broadcom was also tied to a new $35 billion AI platform aimed at expanding data-center compute capacity, reinforcing the company’s exposure to multi-year AI spending. Yahoo Finance article on AI platform
• Neutral Sentiment: Market commentary suggested semiconductor weakness may be a buying opportunity, but broader AI sentiment remains uneven as investors question which parts of the ecosystem will see the biggest payoff. 247WallSt article on chip stocks
• Neutral Sentiment: Broadcom’s short-interest update reported 0 shares outstanding, which does not provide a meaningful signal for investors.
• Negative Sentiment: Despite the positive AI headlines, AVGO has also been pressured by broader semiconductor volatility and reports of weakness in parts of the AI-chip complex. Yahoo Finance article on AVGO weakness

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.