SVRN Asset Management LLC Invests $1.88 Million in Broadcom Inc. $AVGO

SVRN Asset Management LLC acquired a new position in shares of Broadcom Inc. (NASDAQ:AVGO) during the 4th quarter, HoldingsChannel.com reports. The fund acquired 5,420 shares of the semiconductor manufacturer’s stock, valued at approximately $1,876,000. Broadcom accounts for 1.5% of SVRN Asset Management LLC’s portfolio, making the stock its 11th biggest position.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. ROSS JOHNSON & Associates LLC increased its stake in Broadcom by 1,320.0% in the fourth quarter. ROSS JOHNSON & Associates LLC now owns 71 shares of the semiconductor manufacturer’s stock valued at $25,000 after acquiring an additional 66 shares during the period. SWAN Capital LLC increased its stake in 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 during the period. Miller Global Investments LLC bought a new stake in Broadcom in the fourth quarter valued at about $31,000. Nvest Wealth Strategies Inc. bought a new stake in Broadcom in the fourth quarter valued at about $33,000. Finally, Family CFO Inc bought a new stake in Broadcom in the fourth quarter valued at about $35,000. Institutional investors own 76.43% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on AVGO shares. TD Cowen reissued a “buy” rating and issued a $500.00 target price on shares of Broadcom in a research note on Thursday, June 4th. Citigroup reissued a “buy” rating on shares of Broadcom in a research note on Thursday, June 4th. Rosenblatt Securities reissued a “buy” rating and issued a $500.00 target price on shares of Broadcom in a research note on Thursday, June 4th. Mizuho upped their target price on shares of Broadcom from $480.00 to $530.00 and gave the company an “outperform” rating in a research note on Thursday, June 4th. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $525.00 target price on shares of Broadcom in a research note on Thursday, June 4th. One investment analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $490.13.

Insider Activity

In other Broadcom news, CFO Kirsten M. Spears sold 36,292 shares of the business’s stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $321.60, for a total value of $11,671,507.20. Following the transaction, the chief financial officer directly owned 327,760 shares in the company, valued at $105,407,616. The trade was a 9.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Mark David Brazeal sold 50,488 shares of the business’s stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $321.60, for a total transaction of $16,236,940.80. Following the completion of the transaction, the insider owned 278,141 shares in the company, valued at approximately $89,450,145.60. This trade represents a 15.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 324,282 shares of company stock valued at $106,425,249 in the last ninety days. 1.90% of the stock is currently owned by corporate insiders.

Broadcom Price Performance

NASDAQ:AVGO opened at $382.07 on Friday. The firm has a market cap of $1.82 trillion, a PE ratio of 63.68, a price-to-earnings-growth ratio of 0.68 and a beta of 1.41. Broadcom Inc. has a 12 month low of $244.17 and a 12 month high of $495.00. 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’s 50-day moving average price is $404.26 and its two-hundred day moving average price is $363.33.

Broadcom (NASDAQ:AVGO) last released 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 for 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%. The company’s revenue for the quarter was up 47.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.58 earnings per share. On average, equities analysts anticipate that Broadcom Inc. will post 10.24 EPS for the current fiscal year.

Broadcom Dividend Announcement

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

Broadcom News Summary

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom’s quarterly results were very strong, with revenue up 48% to a record $22.2 billion, semiconductor revenue up 79%, AI semiconductor revenue up 143% to $10.8 billion, and more than $30 billion in AI bookings, suggesting demand remains robust. Article Title
• Positive Sentiment: Several analysts and commentators argue the recent drop could be a buying opportunity, saying Broadcom remains a core infrastructure winner in AI and that Wall Street’s long-term outlook is still constructive. Article Title
• Positive Sentiment: Fresh coverage highlighted Broadcom as one of the stocks with catalysts heading into the second half of the year, and some analysts have raised earnings forecasts and price targets despite the selloff. Article Title
• Neutral Sentiment: Jim Cramer said Broadcom’s earnings were “not good” and suggested tech stocks are harder to trust as leadership names, reflecting a more cautious market mood around the stock. Article Title
• Neutral Sentiment: Broadcom also announced cash tender offers for certain outstanding debt securities, a routine balance-sheet move that is unlikely to move the stock by itself. Article Title
• Negative Sentiment: Market commentary says the stock is being punished because investors are nitpicking Broadcom’s AI outlook and pricing the shares as if growth must keep accelerating without any hiccups. Article Title
• Negative Sentiment: One note warned that Broadcom told investors to expect gross profit margins to continue falling, reinforcing concerns that profitability may soften even as revenue grows. Article Title

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.