Assetmark Inc. Buys 17,382 Shares of Broadcom Inc. $AVGO

Assetmark Inc. grew its stake in Broadcom Inc. (NASDAQ:AVGO) by 1.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,609,089 shares of the semiconductor manufacturer’s stock after buying an additional 17,382 shares during the quarter. Broadcom makes up 1.0% of Assetmark Inc.’s portfolio, making the stock its 21st biggest holding. Assetmark Inc.’s holdings in Broadcom were worth $498,029,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Broadcom in the fourth quarter worth $24,252,196,000. Cardano Risk Management B.V. increased its stake in Broadcom by 895.2% in the 4th 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 increased its stake in Broadcom by 2.7% in the 4th quarter. State Street Corp now owns 190,084,351 shares of the semiconductor manufacturer’s stock worth $65,788,194,000 after buying an additional 5,040,801 shares in the last quarter. Vanguard Group Inc. raised its holdings in Broadcom by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 482,707,302 shares of the semiconductor manufacturer’s stock valued at $167,064,997,000 after acquiring an additional 3,919,715 shares during the period. Finally, Nordea Investment Management AB boosted its stake in shares of Broadcom by 47.5% in the fourth quarter. Nordea Investment Management AB now owns 9,814,757 shares of the semiconductor manufacturer’s stock worth $3,406,211,000 after acquiring an additional 3,160,586 shares during the period. 76.43% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Harry L. You acquired 1,000 shares of the business’s stock in a transaction on Thursday, June 11th. The shares were acquired at an average price of $373.57 per share, for a total transaction of $373,570.00. Following the completion of the transaction, the director directly owned 38,466 shares of the company’s stock, valued at approximately $14,369,743.62. The trade was a 2.67% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gayla J. Delly sold 1,890 shares of the stock in a transaction on Wednesday, July 8th. The shares were sold at an average price of $385.38, for a total transaction of $728,368.20. Following the completion of the sale, the director directly owned 31,326 shares in the company, valued at approximately $12,072,413.88. This represents a 5.69% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 61,644 shares of company stock valued at $24,016,214 over the last ninety days. 1.90% of the stock is owned by corporate insiders.

Key Stories Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Morgan Stanley said Broadcom remains one of its preferred ways to play the AI infrastructure buildout, calling AVGO an attractive risk-reward name after the recent semiconductor pullback. Broadcom stock gains 2% today: here’s why
• Positive Sentiment: Analysts and market commentary highlighted Broadcom as a high-cash-flow AI chip stock that could benefit as investors look for quality names amid market volatility. 4 High Cash-Producing AI Chip Stocks to Buy Amid Market Uncertainties
• Positive Sentiment: Broadcom’s AI business is being viewed as a key driver of the investment case, with reports noting strong AI chip revenue growth and a larger shift toward AI-related mix. AMD vs. Broadcom: The Better AI-Chip Stock to Buy After the Sell-Off
• Positive Sentiment: Broadcom also announced a major infrastructure software deal with Standard Chartered to modernize banking cloud operations across 54 markets, which supports its VMware-based software revenue stream. Broadcom (AVGO) Lands Standard Chartered Deal To Power Banking Cloud In 54 Markets
• Neutral Sentiment: Broadcom was included in broader “buy the dip” chip-sector commentary as investors looked for value after the recent memory and AI semiconductor sell-off. The Memory Stock Sell-Off Created a ‘Strong Entry Point,’ Says Morgan Stanley. Investors Are Buying In.
• Negative Sentiment: Recent articles also noted that semiconductor stocks had fallen into a bear market after a sharp index decline, reflecting ongoing sectorwide pressure that could cap gains for AVGO. Semiconductor stocks enter bear market: Is bubble burst next?

Analysts Set New Price Targets

Several analysts recently issued reports on AVGO shares. Wells Fargo & Company reiterated an “overweight” rating and set a $545.00 target price (up from $430.00) on shares of Broadcom in a research report on Thursday, May 14th. Dbs Bank raised Broadcom to a “moderate buy” rating in a report on Thursday, June 18th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $515.00 price target (up from $430.00) on shares of Broadcom in a research note on Thursday, June 4th. Benchmark increased their price objective on shares of Broadcom from $485.00 to $545.00 and gave the company a “buy” rating in a report on Thursday, June 4th. Finally, Seaport Research Partners reaffirmed a “neutral” rating on shares of Broadcom in a research note on Wednesday, April 8th. One analyst has rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $493.24.

Broadcom Trading Up 2.0%

Shares of AVGO opened at $378.16 on Tuesday. The company’s fifty day moving average is $400.28 and its 200 day moving average is $365.62. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.01 and a current ratio of 2.24. The stock has a market capitalization of $1.80 trillion, a PE ratio of 63.03, a P/E/G ratio of 0.65 and a beta of 1.45. Broadcom Inc. has a fifty-two week low of $273.00 and a fifty-two week high of $495.00.

Broadcom (NASDAQ:AVGO) last announced its quarterly 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 firm had revenue of $22.19 billion during the quarter, compared to the consensus estimate of $22.13 billion. Broadcom had a net margin of 38.85% and a return on equity of 41.61%. The firm’s revenue for the quarter was up 47.9% compared to the same quarter last year. During the same quarter last year, the firm earned $1.58 EPS. Sell-side analysts expect that Broadcom Inc. will post 10.24 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 22nd were given a $0.65 dividend. The ex-dividend date was Monday, June 22nd. This represents a $2.60 dividend on an annualized basis and a yield of 0.7%. Broadcom’s dividend payout ratio (DPR) is currently 43.33%.

Broadcom Company 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.