Rubicon Advisors GP Invests $648,000 in Broadcom Inc. $AVGO

Rubicon Advisors GP bought a new position in shares of Broadcom Inc. (NASDAQ:AVGO) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 1,872 shares of the semiconductor manufacturer’s stock, valued at approximately $648,000.

Other institutional investors have also bought and sold shares of the company. Corient Private Wealth LLC grew its holdings in Broadcom by 7.5% during the 4th quarter. Corient Private Wealth LLC now owns 3,913,103 shares of the semiconductor manufacturer’s stock worth $1,355,463,000 after acquiring an additional 273,044 shares during the period. EMC Capital Management lifted its stake in shares of Broadcom by 25.0% in the 4th quarter. EMC Capital Management now owns 2,500 shares of the semiconductor manufacturer’s stock valued at $862,000 after purchasing an additional 500 shares during the period. Auto Owners Insurance Co boosted its position in shares of Broadcom by 34,510.0% during the 4th quarter. Auto Owners Insurance Co now owns 827,179 shares of the semiconductor manufacturer’s stock valued at $28,629,000 after purchasing an additional 824,789 shares in the last quarter. Union Savings Bank bought a new stake in shares of Broadcom during the 4th quarter valued at about $1,449,000. Finally, Hsbc Holdings PLC grew its stake in Broadcom by 2.5% during the fourth quarter. Hsbc Holdings PLC now owns 12,216,956 shares of the semiconductor manufacturer’s stock worth $4,233,270,000 after purchasing an additional 297,824 shares during the period. Institutional investors own 76.43% of the company’s stock.

Insider Transactions at Broadcom

In other news, insider S. Ram Velaga sold 17,260 shares of Broadcom stock in a transaction dated Thursday, April 9th. The shares were sold at an average price of $352.12, for a total transaction of $6,077,591.20. Following the completion of the transaction, the insider directly owned 65,932 shares in the company, valued at $23,215,975.84. This trade represents a 20.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Harry L. You bought 1,000 shares of the firm’s stock in a transaction dated Thursday, June 11th. The shares were acquired 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 owned 38,466 shares of the company’s stock, valued at $14,369,743.62. This represents a 2.67% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders sold 59,385 shares of company stock valued at $21,301,057. Corporate insiders own 1.90% of the company’s stock.

Broadcom Stock Performance

NASDAQ AVGO opened at $411.35 on Monday. The company has a market cap of $1.96 trillion, a price-to-earnings ratio of 68.56, a P/E/G ratio of 0.72 and a beta of 1.41. Broadcom Inc. has a 52 week low of $244.17 and a 52 week high of $495.00. The business has a 50 day moving average price of $411.42 and a 200-day moving average price of $363.34. 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 (NASDAQ:AVGO) last issued its earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.40 by $0.04. Broadcom had a return on equity of 41.61% and a net margin of 38.85%.The company had revenue of $22.19 billion for the quarter, compared to analysts’ expectations of $22.13 billion. During the same period last year, the business earned $1.58 EPS. Broadcom’s quarterly revenue was up 47.9% compared to the same quarter last year. As a group, equities analysts expect that Broadcom Inc. will post 10.24 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 22nd will be paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Monday, June 22nd. Broadcom’s dividend payout ratio (DPR) is 43.33%.

More Broadcom News

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom’s debt tender offer was upsized to $3 billion after strong investor demand, signaling active balance-sheet management and reinforcing investor confidence. Broadcom Inc. Announces Results and Upsize of Offers to Purchase for Cash Certain of its Outstanding Debt Securities
• Positive Sentiment: JPMorgan remained bullish on Broadcom, saying investors should be “aggressive buyers,” which supports the view that the market may still be underestimating AVGO’s AI growth. AVGO stock jumps — JPMorgan says investors should be ‘aggressive buyers’ of Broadcom at current levels
• Positive Sentiment: Citi also called Broadcom a top chip stock on strong data-center demand, adding another bullish Wall Street view tied to AI infrastructure spending. Citi Touts Broadcom Inc. (AVGO) as a Top Chip Stock on Soaring Data Center Demand
• Positive Sentiment: One report said VMware, Broadcom’s second-largest business, may be set to accelerate, which could broaden growth beyond the company’s AI chip exposure. VMware: Broadcom’s Second Biggest Business Set to Accelerate
• Neutral Sentiment: Insider Mark David Brazeal sold shares in two June transactions, but the sales were relatively small versus his remaining stake and do not necessarily change the broader investment thesis. Mark David Brazeal insider trading page
• Negative Sentiment: One analyst warned that chip valuations are getting stretched and suggested investors could consider alternatives, including Broadcom, which may temper enthusiasm if valuation concerns intensify. Analyst Warns Intel Valuation ‘Doesn’t Make Sense.’ Suggests NVIDIA, AMD, Micron, and Broadcom as Alternatives.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on AVGO shares. Seaport Research Partners reiterated a “neutral” rating on shares of Broadcom in a report on Wednesday, April 8th. Oppenheimer reaffirmed an “outperform” rating and set a $535.00 price objective (up from $450.00) on shares of Broadcom in a research report on Thursday, June 4th. Rosenblatt Securities reiterated a “buy” rating and set a $500.00 target price on shares of Broadcom in a research report on Thursday, June 4th. The Goldman Sachs Group reissued a “buy” rating and set a $525.00 target price on shares of Broadcom in a research note on Thursday, June 4th. Finally, Royal Bank Of Canada raised their price target on shares of Broadcom from $360.00 to $400.00 and gave the stock a “sector perform” rating in a report on Thursday, June 4th. One investment analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $490.13.

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.