Broadcom Inc. $AVGO Holdings Increased by Pinpoint Asset Management Singapore Pte. Ltd.

Pinpoint Asset Management Singapore Pte. Ltd. grew its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 29.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,222 shares of the semiconductor manufacturer’s stock after buying an additional 3,716 shares during the quarter. Broadcom comprises 1.2% of Pinpoint Asset Management Singapore Pte. Ltd.’s holdings, making the stock its 17th biggest position. Pinpoint Asset Management Singapore Pte. Ltd.’s holdings in Broadcom were worth $5,614,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. ROSS JOHNSON & Associates LLC raised its holdings in shares of Broadcom by 1,320.0% in the 4th quarter. ROSS JOHNSON & Associates LLC now owns 71 shares of the semiconductor manufacturer’s stock worth $25,000 after purchasing an additional 66 shares in the last quarter. SWAN Capital LLC raised its holdings in shares of Broadcom by 261.9% in the 4th quarter. SWAN Capital LLC now owns 76 shares of the semiconductor manufacturer’s stock worth $26,000 after purchasing an additional 55 shares in the last quarter. Miller Global Investments LLC bought a new stake in shares of Broadcom in the 4th quarter worth approximately $31,000. Nvest Wealth Strategies Inc. bought a new stake in shares of Broadcom in the 4th quarter worth approximately $33,000. Finally, Family CFO Inc bought a new stake in shares of Broadcom in the 4th quarter worth approximately $35,000. 76.43% of the stock is currently owned by institutional investors.

Broadcom News Roundup

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom’s quarterly results were very strong, with revenue up 48% to a record $22.2 billion, semiconductor revenue up 79%, AI semiconductor revenue up 143% to $10.8 billion, and more than $30 billion in AI bookings, suggesting demand remains robust. Article Title
• Positive Sentiment: Several analysts and commentators argue the recent drop could be a buying opportunity, saying Broadcom remains a core infrastructure winner in AI and that Wall Street’s long-term outlook is still constructive. Article Title
• Positive Sentiment: Fresh coverage highlighted Broadcom as one of the stocks with catalysts heading into the second half of the year, and some analysts have raised earnings forecasts and price targets despite the selloff. Article Title
• Neutral Sentiment: Jim Cramer said Broadcom’s earnings were “not good” and suggested tech stocks are harder to trust as leadership names, reflecting a more cautious market mood around the stock. Article Title
• Neutral Sentiment: Broadcom also announced cash tender offers for certain outstanding debt securities, a routine balance-sheet move that is unlikely to move the stock by itself. Article Title
• Negative Sentiment: Market commentary says the stock is being punished because investors are nitpicking Broadcom’s AI outlook and pricing the shares as if growth must keep accelerating without any hiccups. Article Title
• Negative Sentiment: One note warned that Broadcom told investors to expect gross profit margins to continue falling, reinforcing concerns that profitability may soften even as revenue grows. Article Title

Insider Buying and Selling at Broadcom

In other news, insider S. Ram Velaga sold 8,000 shares of the business’s stock in a transaction that occurred on Friday, April 10th. The shares were sold at an average price of $370.52, for a total transaction of $2,964,160.00. Following the sale, the insider owned 57,932 shares in the company, valued at $21,464,964.64. The trade was a 12.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Charlie B. Kawwas sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 8th. The shares were 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 $271,759,532.32. This represents a 1.25% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 324,282 shares of company stock valued at $106,425,249 over the last three months. 1.90% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms recently commented on AVGO. Zacks Research downgraded shares of Broadcom from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 21st. Truist Financial boosted their target price on shares of Broadcom from $545.00 to $550.00 and gave the stock a “buy” rating in a report on Thursday, June 4th. The Goldman Sachs Group reiterated a “buy” rating and issued a $525.00 target price on shares of Broadcom in a report on Thursday, June 4th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $525.00 target price on shares of Broadcom in a report on Thursday, June 4th. Finally, KeyCorp reiterated an “overweight” rating and issued a $575.00 target price (up from $500.00) on shares of Broadcom 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 given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $490.13.

Broadcom Stock Down 0.9%

AVGO stock opened at $382.07 on Friday. Broadcom Inc. has a 52-week low of $244.17 and a 52-week high of $495.00. The company’s 50 day simple moving average is $404.26 and its 200-day simple moving average is $363.33. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.24 and a quick ratio of 2.01. The firm has a market capitalization of $1.82 trillion, a P/E ratio of 63.68, a P/E/G ratio of 0.68 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 (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 analyst estimates of $22.13 billion. During the same quarter in the previous year, the business earned $1.58 earnings per share. The firm’s revenue was up 47.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Broadcom Inc. will post 10.24 EPS for the current year.

Broadcom Dividend Announcement

The company 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 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 payout ratio is currently 43.33%.

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.