Broadcom Inc. $AVGO Stock Position Raised by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC increased its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 3.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,743,844 shares of the semiconductor manufacturer’s stock after acquiring an additional 99,386 shares during the period. Broadcom comprises 1.4% of Allspring Global Investments Holdings LLC’s investment portfolio, making the stock its 5th biggest position. Allspring Global Investments Holdings LLC owned approximately 0.06% of Broadcom worth $860,168,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Oder Investment Management LLC increased its stake in shares of Broadcom by 2.5% during the first quarter. Oder Investment Management LLC now owns 3,213 shares of the semiconductor manufacturer’s stock worth $994,000 after buying an additional 77 shares during the period. One Day In July LLC raised its holdings in shares of Broadcom by 6.0% in the 1st quarter. One Day In July LLC now owns 2,312 shares of the semiconductor manufacturer’s stock valued at $716,000 after purchasing an additional 131 shares in the last quarter. Independent Financial Group LLC purchased a new stake in shares of Broadcom during the 1st quarter worth $43,376,000. Enterprise Financial Services Corp lifted its position in shares of Broadcom by 2.2% during the 1st quarter. Enterprise Financial Services Corp now owns 8,858 shares of the semiconductor manufacturer’s stock worth $2,742,000 after purchasing an additional 189 shares during the last quarter. Finally, Prosperity Consulting Group LLC grew its stake in shares of Broadcom by 2.1% during the first quarter. Prosperity Consulting Group LLC now owns 51,343 shares of the semiconductor manufacturer’s stock worth $15,891,000 after purchasing an additional 1,056 shares in the last quarter. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Broadcom Price Performance

Shares of NASDAQ AVGO opened at $370.83 on Monday. The business has a 50-day moving average price of $401.29 and a 200 day moving average price of $365.42. The stock has a market cap of $1.76 trillion, a PE ratio of 61.81, a price-to-earnings-growth ratio of 0.65 and a beta of 1.45. The company has a quick ratio of 2.01, a current ratio of 2.24 and a debt-to-equity ratio of 0.71. Broadcom Inc. has a 52-week low of $273.00 and a 52-week high of $495.00.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 EPS for the quarter, topping the consensus estimate of $2.40 by $0.04. The company had revenue of $22.19 billion for the quarter, compared to analyst estimates of $22.13 billion. Broadcom had a return on equity of 41.61% and a net margin of 38.85%.The firm’s revenue was up 47.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.58 earnings per share. Equities research analysts forecast that Broadcom Inc. will post 10.24 earnings per share for the current year.

Broadcom Announces Dividend

The firm 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 annualized dividend and a yield of 0.7%. Broadcom’s dividend payout ratio is 43.33%.

Broadcom News Roundup

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

Insider Buying and Selling at Broadcom

In other Broadcom news, Director Justine Page sold 1,602 shares of the firm’s stock in a transaction on Monday, June 29th. The shares were sold at an average price of $373.86, for a total transaction of $598,923.72. Following the transaction, the director directly owned 17,426 shares of the company’s stock, valued at approximately $6,514,884.36. This trade represents a 8.42% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Gayla J. Delly sold 1,890 shares of the firm’s stock in a transaction dated Wednesday, July 8th. The stock was sold at an average price of $385.38, for a total value of $728,368.20. Following the transaction, 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 have sold 61,644 shares of company stock worth $24,016,214 in the last quarter. 1.90% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts have weighed in on AVGO shares. Truist Financial raised their price target on Broadcom from $545.00 to $550.00 and gave the company a “buy” rating in a research note on Thursday, June 4th. Wall Street Zen downgraded Broadcom from a “strong-buy” rating to a “buy” rating in a report on Saturday. Cantor Fitzgerald reissued an “overweight” rating and set a $525.00 target price on shares of Broadcom in a research report on Thursday, June 4th. UBS Group set a $485.00 price target on Broadcom and gave the company a “buy” rating in a report on Thursday, June 4th. Finally, Susquehanna reiterated a “positive” rating and issued a $490.00 price target (up from $450.00) on shares of Broadcom in a research note on Thursday, May 28th. One investment analyst has rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $493.24.

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.