Orange Investment Advisors Inc. Sells 4,510 Shares of Broadcom Inc. $AVGO

Orange Investment Advisors Inc. reduced its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 12.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 32,068 shares of the semiconductor manufacturer’s stock after selling 4,510 shares during the quarter. Broadcom makes up approximately 1.5% of Orange Investment Advisors Inc.’s investment portfolio, making the stock its 16th largest position. Orange Investment Advisors Inc.’s holdings in Broadcom were worth $12,114,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in AVGO. ROSS JOHNSON & Associates LLC grew its position in shares of Broadcom by 1,320.0% during the 4th quarter. ROSS JOHNSON & Associates LLC now owns 71 shares of the semiconductor manufacturer’s stock worth $25,000 after buying an additional 66 shares in the last quarter. Networth Advisors LLC raised its holdings in shares of Broadcom by 546.2% in the first quarter. Networth Advisors LLC now owns 84 shares of the semiconductor manufacturer’s stock valued at $26,000 after acquiring an additional 71 shares in the last quarter. SWAN Capital LLC raised its holdings in shares of Broadcom by 261.9% in the fourth quarter. SWAN Capital LLC now owns 76 shares of the semiconductor manufacturer’s stock valued at $26,000 after acquiring an additional 55 shares in the last quarter. Nvest Wealth Strategies Inc. purchased a new stake in Broadcom in the fourth quarter worth about $33,000. Finally, Family CFO Inc bought a new position in Broadcom during the 4th quarter worth about $35,000. 76.43% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

AVGO has been the topic of a number of research reports. Susquehanna reissued a “positive” rating and set a $490.00 target price (up from $450.00) on shares of Broadcom in a research report on Thursday, May 28th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $525.00 price target on shares of Broadcom in a research report on Thursday, June 4th. UBS Group set a $485.00 price objective on shares of Broadcom and gave the company a “buy” rating in a research note on Thursday, June 4th. Zacks Research downgraded shares of Broadcom from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 21st. Finally, KeyCorp restated an “overweight” rating and set a $575.00 target price (up from $500.00) on shares of Broadcom in a report on Thursday, June 4th. Twenty-eight research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $493.24.

Broadcom Stock Up 0.0%

Shares of Broadcom stock opened at $393.05 on Monday. The company has a quick ratio of 2.01, a current ratio of 2.24 and a debt-to-equity ratio of 0.71. The company has a market cap of $1.87 trillion, a P/E ratio of 65.51, a PEG ratio of 0.75 and a beta of 1.45. The firm’s 50 day moving average price is $389.79 and its 200-day moving average price is $373.64. Broadcom Inc. has a 52-week low of $281.87 and a 52-week high of $495.00.

Broadcom (NASDAQ:AVGO) last posted its earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 EPS for the quarter, beating 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 net margin of 38.85% and a return on equity of 41.61%. Broadcom’s revenue for the quarter was up 47.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.58 earnings per share. On average, sell-side analysts predict that Broadcom Inc. will post 10.24 EPS for the current fiscal year.

Broadcom Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 22nd were given a $0.65 dividend. The ex-dividend date of this dividend was 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 presently 43.33%.

Broadcom News Roundup

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom’s custom-silicon and XPU opportunity remains a key long-term catalyst. Analysts and commentators point to accelerating AI infrastructure spending, major customer agreements, and potential growth in custom chips and networking. Broadcom: XPU Growth Trajectory Underestimated, Stock A Bargain
• Positive Sentiment: Wall Street’s average price target implies substantial upside from recent trading levels, supporting the bullish view that the market may be underestimating Broadcom’s AI growth trajectory. Broadcom is Down Over 3 Months: One Wall Street Pro Sees 60%+ Gains Ahead
• Positive Sentiment: Continued institutional interest, including purchases by GAMCO Investors and Cathie Wood’s reported investment, provides some additional support for the stock’s long-term AI investment case. Cathie Wood buys $16.2 million of Broadcom

Insiders Place Their Bets

In other Broadcom news, insider Mark David Brazeal sold 25,000 shares of the stock in a transaction dated Friday, July 10th. The stock was sold at an average price of $401.33, for a total value of $10,033,250.00. Following the completion of the sale, the insider directly owned 194,989 shares in the company, valued at approximately $78,254,935.37. This trade represents a 11.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Harry L. You purchased 1,000 shares of the stock in a transaction on Thursday, June 11th. The stock was acquired at an average cost of $373.57 per share, with a total value of $373,570.00. Following 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 position. The SEC filing for this purchase provides additional information. Insiders have sold 61,644 shares of company stock valued at $24,016,214 in the last 90 days. Corporate insiders own 1.90% of the company’s stock.

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.