6,723 Shares in Broadcom Inc. $AVGO Purchased by Brown Shipley& Co Ltd

Brown Shipley& Co Ltd acquired a new stake in shares of Broadcom Inc. (NASDAQ:AVGO) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 6,723 shares of the semiconductor manufacturer’s stock, valued at approximately $2,081,000. Broadcom makes up 1.2% of Brown Shipley& Co Ltd’s investment portfolio, making the stock its 22nd biggest position.

Other hedge funds have also modified their holdings of the company. Sovran Advisors LLC increased its stake in shares of Broadcom by 121.3% in the fourth quarter. Sovran Advisors LLC now owns 30,631 shares of the semiconductor manufacturer’s stock valued at $10,507,000 after buying an additional 16,789 shares during the period. Thurston Springer Miller Herd & Titak Inc. raised its holdings in Broadcom by 406.1% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 11,994 shares of the semiconductor manufacturer’s stock valued at $4,151,000 after buying an additional 9,624 shares during the last quarter. Aspiriant LLC boosted its position in Broadcom by 18.5% during the 4th quarter. Aspiriant LLC now owns 12,016 shares of the semiconductor manufacturer’s stock worth $4,158,000 after buying an additional 1,872 shares during the period. World Investment Advisors boosted its position in Broadcom by 16.1% during the 4th quarter. World Investment Advisors now owns 177,710 shares of the semiconductor manufacturer’s stock worth $61,505,000 after buying an additional 24,703 shares during the period. Finally, Western Financial Corp CA grew its holdings in Broadcom by 90.5% during the 4th quarter. Western Financial Corp CA now owns 6,481 shares of the semiconductor manufacturer’s stock worth $2,243,000 after acquiring an additional 3,079 shares during the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Broadcom news, Director Gayla J. Delly sold 1,890 shares of the stock in a transaction dated Wednesday, July 8th. The stock was 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 trade represents a 5.69% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Justine Page sold 1,602 shares of Broadcom stock in a transaction dated 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 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 61,644 shares of company stock valued at $24,016,214. 1.90% of the stock is currently owned by insiders.

Broadcom Stock Up 2.0%

Shares of NASDAQ AVGO opened at $378.16 on Tuesday. The company’s 50 day moving average price is $400.28 and its 200-day moving average price 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. Broadcom Inc. has a 52-week low of $273.00 and a 52-week high of $495.00. The company has a market capitalization of $1.80 trillion, a P/E ratio of 63.03, a price-to-earnings-growth ratio of 0.65 and a beta of 1.45.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share for the quarter, topping the consensus estimate of $2.40 by $0.04. Broadcom had a net margin of 38.85% and a return on equity of 41.61%. The company had revenue of $22.19 billion during the quarter, compared to analysts’ expectations of $22.13 billion. During the same period in the prior year, the company posted $1.58 earnings per share. Broadcom’s revenue for the quarter was up 47.9% compared to the same quarter last year. Equities analysts forecast 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. Shareholders of record on Monday, June 22nd were given a dividend of $0.65 per share. The ex-dividend date of this dividend 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 is 43.33%.

Broadcom News Roundup

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?

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on AVGO shares. Seaport Research Partners restated a “neutral” rating on shares of Broadcom in a research report on Wednesday, April 8th. Cantor Fitzgerald reiterated an “overweight” rating and set a $525.00 price target on shares of Broadcom in a report on Thursday, June 4th. Wells Fargo & Company reissued an “overweight” rating and issued a $545.00 price objective (up from $430.00) on shares of Broadcom in a research note on Thursday, May 14th. Jefferies Financial Group set a $550.00 price objective on Broadcom and gave the company a “buy” rating in a report on Thursday, June 4th. Finally, Weiss Ratings raised Broadcom from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $493.24.

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.