Journey Advisory Group LLC Trims Position in Broadcom Inc. $AVGO

Journey Advisory Group LLC trimmed its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 3.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 57,920 shares of the semiconductor manufacturer’s stock after selling 2,304 shares during the period. Broadcom accounts for 1.5% of Journey Advisory Group LLC’s portfolio, making the stock its 18th largest holding. Journey Advisory Group LLC’s holdings in Broadcom were worth $17,927,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in Broadcom by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 482,707,302 shares of the semiconductor manufacturer’s stock valued at $167,064,997,000 after acquiring an additional 3,919,715 shares during the period. State Street Corp boosted its stake in shares of Broadcom by 2.7% in the fourth quarter. State Street Corp now owns 190,084,351 shares of the semiconductor manufacturer’s stock worth $65,788,194,000 after acquiring an additional 5,040,801 shares during the period. Geode Capital Management LLC boosted its stake in shares of Broadcom by 1.4% in the fourth quarter. Geode Capital Management LLC now owns 111,277,280 shares of the semiconductor manufacturer’s stock worth $38,396,634,000 after acquiring an additional 1,548,699 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of Broadcom by 3.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 85,546,083 shares of the semiconductor manufacturer’s stock worth $29,607,500,000 after purchasing an additional 2,491,644 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Broadcom during the fourth quarter worth about $24,252,196,000. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on AVGO. UBS Group set a $485.00 price target on Broadcom and gave the stock a “buy” rating in a report on Thursday, June 4th. Susquehanna reaffirmed a “positive” rating and set a $490.00 price objective (up from $450.00) on shares of Broadcom in a report on Thursday, May 28th. Dbs Bank upgraded shares of Broadcom to a “moderate buy” rating in a research report on Thursday, June 18th. Erste Group Bank reissued a “hold” rating on shares of Broadcom in a report on Tuesday, July 7th. Finally, KeyCorp restated an “overweight” rating and set a $575.00 target price (up from $500.00) on shares of Broadcom in a research report on Thursday, June 4th. One investment analyst has rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $493.24.

Insider Buying and Selling

In other Broadcom news, Director Justine Page sold 1,602 shares of Broadcom 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 completion of the transaction, the director directly owned 17,426 shares of the company’s stock, valued at $6,514,884.36. The trade was a 8.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gayla J. Delly sold 1,890 shares of the business’s stock in a transaction on Wednesday, July 8th. The shares were sold at an average price of $385.38, for a total transaction of $728,368.20. Following the transaction, the director owned 31,326 shares in the company, valued at $12,072,413.88. This trade represents a 5.69% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 61,644 shares of company stock worth $24,016,214. 1.90% of the stock is owned by company insiders.

Key Stories 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 Stock Performance

Broadcom stock opened at $370.83 on Friday. The company’s 50-day moving average price is $401.29 and its 200-day moving average price is $365.31. Broadcom Inc. has a twelve month low of $273.00 and a twelve 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 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.

Broadcom (NASDAQ:AVGO) last announced 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. Broadcom had a net margin of 38.85% and a return on equity of 41.61%. The firm had revenue of $22.19 billion during the quarter, compared to the consensus estimate of $22.13 billion. During the same quarter last year, the firm earned $1.58 EPS. The firm’s revenue for the quarter was up 47.9% compared to the same quarter last year. On average, equities research analysts forecast that Broadcom Inc. will post 10.24 EPS for the current fiscal year.

Broadcom Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders 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 annualized dividend and a dividend yield of 0.7%. Broadcom’s payout ratio is currently 43.33%.

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.