Adell Harriman & Carpenter Inc. Sells 8,831 Shares of Broadcom Inc. $AVGO

Adell Harriman & Carpenter Inc. trimmed its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 2.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 440,110 shares of the semiconductor manufacturer’s stock after selling 8,831 shares during the period. Broadcom makes up about 8.3% of Adell Harriman & Carpenter Inc.’s investment portfolio, making the stock its biggest position. Adell Harriman & Carpenter Inc.’s holdings in Broadcom were worth $136,218,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Checchi Capital Advisers LLC raised its stake in Broadcom by 5.0% in the first quarter. Checchi Capital Advisers LLC now owns 38,941 shares of the semiconductor manufacturer’s stock valued at $12,053,000 after purchasing an additional 1,842 shares in the last quarter. Roberts Glore & Co. Inc. IL raised its position in Broadcom by 3.7% during the first quarter. Roberts Glore & Co. Inc. IL now owns 4,997 shares of the semiconductor manufacturer’s stock valued at $1,547,000 after purchasing an additional 177 shares in the last quarter. Nwam LLC lifted its stake in Broadcom by 10.7% during the first quarter. Nwam LLC now owns 98,045 shares of the semiconductor manufacturer’s stock worth $30,346,000 after purchasing an additional 9,477 shares during the last quarter. Maryland State Retirement & Pension System lifted its stake in Broadcom by 0.4% during the first quarter. Maryland State Retirement & Pension System now owns 231,947 shares of the semiconductor manufacturer’s stock worth $71,790,000 after purchasing an additional 909 shares during the last quarter. Finally, Hillsdale Investment Management Inc. boosted its holdings in shares of Broadcom by 15.0% in the 1st quarter. Hillsdale Investment Management Inc. now owns 42,304 shares of the semiconductor manufacturer’s stock valued at $13,094,000 after purchasing an additional 5,530 shares in the last quarter. Institutional investors own 76.43% of the company’s stock.

Insider Transactions at Broadcom

In other news, Director Harry L. You bought 1,000 shares of the stock in a transaction dated Thursday, June 11th. The shares were bought at an average cost of $373.57 per share, with a total value of $373,570.00. Following the completion of the transaction, the director directly owned 38,466 shares of the company’s stock, valued at $14,369,743.62. This trade represents a 2.67% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Justine Page sold 1,602 shares of the stock in a transaction on Monday, June 29th. The stock was sold at an average price of $373.86, for a total value of $598,923.72. Following the completion of the transaction, the director owned 17,426 shares in the company, valued at approximately $6,514,884.36. This represents a 8.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 61,644 shares of company stock worth $24,016,214 in the last three months. Insiders own 1.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. JPMorgan Chase & Co. boosted their price target on Broadcom from $500.00 to $580.00 and gave the stock an “overweight” rating in a report on Thursday, June 4th. Wall Street Zen lowered Broadcom from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Rosenblatt Securities reiterated a “buy” rating and issued a $500.00 target price on shares of Broadcom in a research report on Thursday, June 4th. Bank of America boosted their target price on Broadcom from $450.00 to $530.00 and gave the stock a “buy” rating in a research note on Thursday, June 4th. Finally, Evercore reissued an “outperform” rating and issued a $582.00 target price on shares of Broadcom in a report on Tuesday, May 19th. One equities research 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 company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $493.24.

Broadcom Price Performance

Broadcom stock opened at $370.83 on Friday. The stock has a market capitalization of $1.76 trillion, a price-to-earnings ratio of 61.81, a PEG ratio of 0.66 and a beta of 1.45. Broadcom Inc. has a 52-week low of $273.00 and a 52-week high of $495.00. The stock’s 50 day moving average price is $401.29 and its two-hundred day moving average price is $365.31. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.01 and a current ratio of 2.24.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share for the quarter, beating the consensus estimate of $2.40 by $0.04. The company had revenue of $22.19 billion during the quarter, compared to analyst estimates 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 previous year, the business posted $1.58 EPS. On average, equities analysts predict that Broadcom Inc. will post 10.24 earnings per share for the current year.

Broadcom Dividend Announcement

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

Key Headlines Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Standard Chartered chose Broadcom to support a long-term modernization of its global banking infrastructure, underscoring Broadcom’s role in secure private-cloud and enterprise networking solutions. Standard Chartered Selects Broadcom to Deliver Secure, Always-On Banking Services at Global Scale
• Positive Sentiment: Wall Street commentary continues to describe Broadcom as a core AI beneficiary, and some analysts have raised price targets even after the stock pullback. As Shares Fall, Analyst Are Boosting Their Broadcom Price Targets
• Neutral Sentiment: Broadcom remains a major talking point in AI-focused market coverage, with some investors viewing it as an indicator for the broader market and semiconductor cycle. Jim Cramer Says Broadcom Will Tell You When the Market Is About to Turn
• Negative Sentiment: Broadcom is facing renewed skepticism around valuation, with one report asking whether the AI story has made the stock too expensive. Has Broadcom Become Too Expensive for Its AI Story?
• Negative Sentiment: The stock is also being hit by a broader selloff in semiconductor names as investors rotate away from AI-capex winners and worry about a slowdown in chip spending. Marvell Drops 8% as AI Capex Slowdown Fears Weigh on Chips; Broadcom, AMD, and Intel Slide
• Negative Sentiment: Broadcom is also dealing with regulatory uncertainty after reports said it faces an EU antitrust review tied to VMware licensing changes. Broadcom (AVGO) Faces EU Antitrust Review Over VMware Licensing Changes

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.