Broadcom Inc. $AVGO is Westover Capital Advisors LLC’s 5th Largest Position

Westover Capital Advisors LLC lessened its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 8.7% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 50,107 shares of the semiconductor manufacturer’s stock after selling 4,772 shares during the period. Broadcom accounts for approximately 2.9% of Westover Capital Advisors LLC’s portfolio, making the stock its 5th biggest position. Westover Capital Advisors LLC’s holdings in Broadcom were worth $15,509,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Fullerton Advisors LLC increased its position in Broadcom by 1.3% during the first quarter. Fullerton Advisors LLC now owns 1,989 shares of the semiconductor manufacturer’s stock worth $616,000 after purchasing an additional 25 shares during the last quarter. NORTHSTAR ASSET MANAGEMENT Co grew its stake in shares of Broadcom by 0.5% in the 1st quarter. NORTHSTAR ASSET MANAGEMENT Co now owns 5,350 shares of the semiconductor manufacturer’s stock valued at $1,656,000 after buying an additional 25 shares during the period. RFG Holdings Inc. grew its stake in shares of Broadcom by 0.3% in the 1st quarter. RFG Holdings Inc. now owns 8,499 shares of the semiconductor manufacturer’s stock valued at $2,631,000 after buying an additional 26 shares during the period. Yukon Wealth Management Inc. increased its holdings in shares of Broadcom by 1.1% during the 1st quarter. Yukon Wealth Management Inc. now owns 2,501 shares of the semiconductor manufacturer’s stock worth $774,000 after buying an additional 26 shares during the last quarter. Finally, Capital Planning LLC increased its holdings in shares of Broadcom by 0.7% during the 1st quarter. Capital Planning LLC now owns 4,044 shares of the semiconductor manufacturer’s stock worth $1,252,000 after buying an additional 28 shares during the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on AVGO. Weiss Ratings upgraded Broadcom from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday. DA Davidson raised their target price on Broadcom from $375.00 to $400.00 and gave the stock a “neutral” rating in a research note on Thursday, June 4th. Truist Financial lifted their target price on Broadcom from $545.00 to $550.00 and gave the company a “buy” rating in a research report on Thursday, June 4th. Oppenheimer reaffirmed an “outperform” rating and issued a $535.00 price target (up from $450.00) on shares of Broadcom in a research note on Thursday, June 4th. Finally, KeyCorp reiterated an “overweight” rating and set a $575.00 price target (up from $500.00) on shares of Broadcom in a 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 issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $493.24.

Broadcom News Summary

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 Transactions at Broadcom

In other Broadcom news, Director Gayla J. Delly sold 1,890 shares of Broadcom 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 completion of the transaction, the director directly owned 31,326 shares of the company’s stock, valued at $12,072,413.88. The trade was a 5.69% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Harry L. You bought 1,000 shares of the business’s stock in a transaction that occurred on Thursday, June 11th. The shares were acquired at an average cost of $373.57 per share, for a total transaction of $373,570.00. Following the completion of the purchase, the director owned 38,466 shares in the company, valued at $14,369,743.62. This trade represents a 2.67% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last 90 days, insiders sold 61,644 shares of company stock valued at $24,016,214. 1.90% of the stock is owned by insiders.

Broadcom Price Performance

Shares of NASDAQ AVGO opened at $370.83 on Monday. 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 business’s 50 day moving average is $401.29 and its two-hundred day moving average is $365.42. Broadcom Inc. has a 52-week low of $273.00 and a 52-week high of $495.00. The firm has a market cap of $1.76 trillion, a price-to-earnings ratio of 61.81, a PEG ratio of 0.65 and a beta of 1.45.

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. Broadcom had a return on equity of 41.61% and a net margin of 38.85%.The business had revenue of $22.19 billion during the quarter, compared to analyst estimates of $22.13 billion. During the same period last year, the business posted $1.58 earnings per share. The company’s quarterly revenue was up 47.9% on a year-over-year basis. Research analysts predict that Broadcom Inc. will post 10.24 EPS for the current year.

Broadcom Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 22nd were issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date was Monday, June 22nd. Broadcom’s dividend payout ratio (DPR) is 43.33%.

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.