Mill Creek Capital Advisors LLC Decreases Stake in Broadcom Inc. $AVGO

Mill Creek Capital Advisors LLC lowered its position in Broadcom Inc. (NASDAQ:AVGO) by 31.7% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 5,832 shares of the semiconductor manufacturer’s stock after selling 2,704 shares during the quarter. Mill Creek Capital Advisors LLC’s holdings in Broadcom were worth $2,019,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in Broadcom by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 482,707,302 shares of the semiconductor manufacturer’s stock worth $167,064,997,000 after acquiring an additional 3,919,715 shares during the last quarter. State Street Corp increased its holdings in Broadcom by 2.7% in the 4th 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 last quarter. Geode Capital Management LLC increased its holdings in Broadcom by 1.4% in the 4th 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 last quarter. Norges Bank purchased a new stake in Broadcom in the 4th quarter worth about $24,252,196,000. Finally, Invesco Ltd. increased its holdings in Broadcom by 1.8% in the 3rd quarter. Invesco Ltd. now owns 39,149,651 shares of the semiconductor manufacturer’s stock worth $12,915,861,000 after acquiring an additional 700,021 shares during the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on AVGO shares. Weiss Ratings raised Broadcom from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, June 9th. TD Cowen reissued a “buy” rating and issued a $500.00 price objective on shares of Broadcom in a report on Thursday, June 4th. Mizuho boosted their price objective on Broadcom from $480.00 to $530.00 and gave the company an “outperform” rating in a research note on Thursday, June 4th. The Goldman Sachs Group reiterated a “buy” rating and set a $525.00 price objective on shares of Broadcom in a research note on Thursday, June 4th. Finally, Truist Financial boosted their price objective on Broadcom from $545.00 to $550.00 and gave the company a “buy” rating in a research note on Thursday, June 4th. One analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $490.13.

Broadcom Stock Performance

NASDAQ:AVGO opened at $382.07 on Monday. 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 $244.17 and a 52-week high of $495.00. The firm has a market cap of $1.82 trillion, a price-to-earnings ratio of 63.68, a PEG ratio of 0.67 and a beta of 1.41. The business’s fifty day moving average is $404.26 and its 200 day moving average is $363.22.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share (EPS) for the quarter, beating 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 analyst estimates of $22.13 billion. During the same period in the previous year, the company posted $1.58 EPS. The firm’s revenue for the quarter was up 47.9% compared to the same quarter last year. Research analysts predict that Broadcom Inc. will post 10.24 EPS for the current year.

Broadcom Dividend Announcement

The firm also recently announced 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 yield of 0.7%. The ex-dividend date is Monday, June 22nd. Broadcom’s dividend payout ratio is currently 43.33%.

Trending Headlines about Broadcom

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

Insiders Place Their Bets

In other Broadcom news, insider Charlie B. Kawwas sold 39,116 shares of the company’s stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $321.61, for a total value of $12,580,096.76. Following the transaction, the insider directly owned 74,626 shares in the company, valued at $24,000,467.86. This represents a 34.39% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider S. Ram Velaga sold 38,841 shares of the company’s stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $321.60, for a total value of $12,491,265.60. Following the completion of the transaction, the insider owned 96,147 shares in the company, valued at $30,920,875.20. This represents a 28.77% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 215,970 shares of company stock worth $71,104,945. 1.90% of the stock is owned by corporate insiders.

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.