Carnegie Investment Counsel lifted its position in shares of Broadcom Inc. (NASDAQ:AVGO – Free Report) by 3.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 363,459 shares of the semiconductor manufacturer’s stock after purchasing an additional 11,861 shares during the period. Broadcom accounts for 2.2% of Carnegie Investment Counsel’s portfolio, making the stock its 6th largest holding. Carnegie Investment Counsel’s holdings in Broadcom were worth $110,505,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently modified their holdings of the company. Sovran Advisors LLC boosted its holdings in shares of Broadcom by 121.3% during the fourth quarter. Sovran Advisors LLC now owns 30,631 shares of the semiconductor manufacturer’s stock worth $10,507,000 after acquiring an additional 16,789 shares during the period. Thurston Springer Miller Herd & Titak Inc. increased its stake in shares of Broadcom by 406.1% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 11,994 shares of the semiconductor manufacturer’s stock worth $4,151,000 after purchasing an additional 9,624 shares during the period. Aspiriant LLC increased its stake in shares of Broadcom by 18.5% during the fourth quarter. Aspiriant LLC now owns 12,016 shares of the semiconductor manufacturer’s stock worth $4,158,000 after purchasing an additional 1,872 shares during the period. World Investment Advisors lifted its holdings in Broadcom by 16.1% during the 4th quarter. World Investment Advisors now owns 177,710 shares of the semiconductor manufacturer’s stock worth $61,505,000 after purchasing an additional 24,703 shares during the last quarter. Finally, Western Financial Corp CA lifted its holdings in Broadcom by 90.5% during the 4th quarter. Western Financial Corp CA now owns 6,481 shares of the semiconductor manufacturer’s stock worth $2,243,000 after purchasing an additional 3,079 shares during the last quarter. 76.43% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
Several equities analysts recently commented on AVGO shares. Citigroup restated a “buy” rating on shares of Broadcom in a research note on Thursday, June 4th. Rosenblatt Securities reiterated a “buy” rating and issued a $500.00 price objective on shares of Broadcom in a research note on Thursday, June 4th. Wall Street Zen raised shares of Broadcom from a “buy” rating to a “strong-buy” rating in a report on Wednesday, July 1st. UBS Group set a $485.00 target price on shares of Broadcom and gave the stock a “buy” rating in a research report on Thursday, June 4th. Finally, Susquehanna reaffirmed a “positive” rating and set a $490.00 target price (up from $450.00) on shares of Broadcom in a report on Thursday, May 28th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $493.24.
Broadcom Stock Performance
Shares of Broadcom stock opened at $394.28 on Thursday. The company has a current ratio of 2.24, a quick ratio of 2.01 and a debt-to-equity ratio of 0.71. The company has a market cap of $1.88 trillion, a PE ratio of 65.71, a price-to-earnings-growth ratio of 0.68 and a beta of 1.45. The company has a 50 day moving average of $403.23 and a 200-day moving average of $365.11. Broadcom Inc. has a 1-year low of $273.00 and a 1-year high of $495.00.
Broadcom (NASDAQ:AVGO – Get Free Report) last announced its quarterly earnings data on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.40 by $0.04. Broadcom had a net margin of 38.85% and a return on equity of 41.61%. The business 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 posted $1.58 earnings per share. The firm’s quarterly revenue was up 47.9% compared to the same quarter last year. As a group, equities research analysts forecast 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 was paid on Tuesday, June 30th. Stockholders of record on Monday, June 22nd were paid a $0.65 dividend. The ex-dividend date was Monday, June 22nd. This represents a $2.60 annualized dividend and a dividend yield of 0.7%. Broadcom’s dividend payout ratio (DPR) is presently 43.33%.
More Broadcom News
Here are the key news stories impacting Broadcom this week:
- Positive Sentiment: Broadcom is being viewed as a major AI infrastructure winner, with recent coverage highlighting its accelerating AI revenue, record bookings, and strong customer partnerships. Snowflake vs. Broadcom: Which Enterprise AI Stock Is the Smarter Buy?
- Positive Sentiment: Wall Street commentary says Broadcom’s Apple agreement through 2031 is strategically positive and supports a durable revenue stream from custom chips and connectivity components. Why Broadcom (AVGO) Is Reinforcing Its Long-Term Growth With an Extended Apple Chip Partnership Through 2031
- Positive Sentiment: Analysts remain upbeat on Broadcom, with reports pointing to roughly 32.8% implied upside from the average price target and improving earnings estimate revisions. Wall Street Analysts See a 32.76% Upside in Broadcom Inc. (AVGO): Can the Stock Really Move This High?
- Positive Sentiment: Morgan Stanley called Broadcom a “core AI winner,” reinforcing the view that AVGO remains one of the main beneficiaries of AI spending. Broadcom is a ‘core AI winner,’ even as MediaTek encroaches, Morgan Stanley says
- Neutral Sentiment: Broadcom is also drawing heavy investor attention, which keeps the stock in focus but does not by itself change fundamentals. Broadcom Inc. (AVGO) Is a Trending Stock: Facts to Know Before Betting on It
- Negative Sentiment: Sentiment was tempered by reports that Broadcom executives sold shares, which can raise caution even though insider sales do not necessarily signal a business problem. Broadcom Executive Sells $10 Million in AVGO Stock. Is the Insider Sale a Warning Sign?
- Negative Sentiment: Reuters reported that five cloud business groups are urging EU regulators to suspend some Broadcom practices, adding a regulatory overhang to the name. Five cloud business groups urge EU interim measures against Broadcom
Insiders Place Their Bets
In other Broadcom news, Director Harry L. You acquired 1,000 shares of Broadcom stock in a transaction that occurred on 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 purchase, the director directly owned 38,466 shares of the company’s stock, valued at $14,369,743.62. This represents a 2.67% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Mark David Brazeal sold 25,000 shares of Broadcom stock in a transaction dated Friday, July 10th. The shares were sold at an average price of $401.33, for a total value of $10,033,250.00. Following the completion of the transaction, the insider owned 194,989 shares in the company, valued at approximately $78,254,935.37. This represents a 11.36% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 61,644 shares of company stock worth $24,016,214. 1.90% of the stock is currently owned by company insiders.
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.
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