Private Wealth Partners LLC Increases Holdings in Broadcom Inc. $AVGO

Private Wealth Partners LLC increased its stake in Broadcom Inc. (NASDAQ:AVGO) by 48.2% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 7,492 shares of the semiconductor manufacturer’s stock after buying an additional 2,438 shares during the quarter. Private Wealth Partners LLC’s holdings in Broadcom were worth $2,319,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in AVGO. Norges Bank purchased a new position in Broadcom in the 4th quarter valued at about $24,252,196,000. Cardano Risk Management B.V. grew its position in shares of Broadcom by 895.2% during the fourth quarter. Cardano Risk Management B.V. now owns 12,689,800 shares of the semiconductor manufacturer’s stock worth $4,391,940,000 after buying an additional 11,414,701 shares in the last quarter. State Street Corp grew its holdings in Broadcom by 2.7% during the 4th quarter. State Street Corp now owns 190,084,351 shares of the semiconductor manufacturer’s stock worth $65,788,194,000 after acquiring an additional 5,040,801 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in Broadcom by 499.4% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 5,634,232 shares of the semiconductor manufacturer’s stock worth $1,858,789,000 after acquiring an additional 4,694,313 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Broadcom by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 482,707,302 shares of the semiconductor manufacturer’s stock worth $167,064,997,000 after purchasing an additional 3,919,715 shares during the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Mark David Brazeal sold 4,825 shares of Broadcom stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $394.91, for a total transaction of $1,905,440.75. Following the sale, the insider directly owned 269,989 shares in the company, valued at $106,621,355.99. The trade was a 1.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Harry L. You acquired 1,000 shares of Broadcom stock in a transaction that occurred on Thursday, June 11th. The stock was bought at an average cost of $373.57 per share, with a total value of $373,570.00. Following the acquisition, the director directly owned 38,466 shares of the company’s stock, valued at approximately $14,369,743.62. This trade represents a 2.67% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders sold a total of 17,754 shares of company stock valued at $6,739,006 over the last three months. 1.90% of the stock is currently owned by company insiders.

Broadcom Stock Performance

AVGO opened at $388.69 on Thursday. The business’s 50 day moving average is $405.37 and its 200-day moving average is $363.44. The stock has a market cap of $1.85 trillion, a PE ratio of 64.78, a price-to-earnings-growth ratio of 0.65 and a beta of 1.45. The company has a current ratio of 2.24, a quick ratio of 2.01 and a debt-to-equity ratio of 0.71. Broadcom Inc. has a twelve month low of $269.58 and a twelve month high of $495.00.

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. 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 analyst estimates of $22.13 billion. During the same period in the prior year, the company posted $1.58 EPS. The business’s revenue for the quarter was up 47.9% compared to the same quarter last year. On average, analysts predict 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 was paid on Tuesday, June 30th. Stockholders of record on Monday, June 22nd were paid a $0.65 dividend. The ex-dividend date of this dividend was Monday, June 22nd. This represents a $2.60 annualized dividend and a dividend yield of 0.7%. Broadcom’s dividend payout ratio is presently 43.33%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on AVGO shares. Wall Street Zen raised shares of Broadcom from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, July 1st. Susquehanna reissued a “positive” rating and issued a $490.00 price objective (up from $450.00) on shares of Broadcom in a report on Thursday, May 28th. Mizuho increased their target price on Broadcom from $480.00 to $530.00 and gave the stock an “outperform” rating in a report on Thursday, June 4th. UBS Group set a $485.00 target price on Broadcom and gave the stock a “buy” rating in a research report on Thursday, June 4th. Finally, Jefferies Financial Group set a $550.00 price target on Broadcom and gave the company a “buy” rating in a report on Thursday, June 4th. One investment analyst has rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $493.24.

Key Broadcom News

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Apple expanded its Broadcom relationship with a $30 billion-plus chipmaking commitment, which should provide Broadcom with long-term revenue visibility and support for its AI/custom silicon growth story. Reuters: Apple to spend $30 billion in Broadcom chips deal that will see Colorado factory expand
• Positive Sentiment: Apple’s deal is being framed as a major U.S. manufacturing win and one of Broadcom’s biggest customer commitments, which could lift sentiment around AVGO’s AI infrastructure opportunity. TechCrunch: Apple to produce Made in America wireless chips with Broadcom
• Positive Sentiment: Investor attention is also being fueled by bullish coverage highlighting Broadcom as a top stock pick and an increasingly attractive AI semiconductor name after recent pullbacks. Insider Monkey: Top 5 Stocks to Buy According to Whale Rock Capital Management
• Neutral Sentiment: Some commentary says Broadcom had already pulled back from recent highs, with UBS arguing semiconductor valuations may now offer a more attractive entry point, but this is more valuation commentary than a fresh catalyst. Benzinga: Micron, Broadcom Just Got 25% Cheaper
• Negative Sentiment: One analyst reportedly downgraded Broadcom, suggesting not all views are uniformly bullish despite the Apple deal. Yahoo Finance: This Analyst Just Downgraded Broadcom Stock

About Broadcom

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.