Meadowbrook Advisors Group LLC Invests $1.46 Million in Broadcom Inc. $AVGO

Meadowbrook Advisors Group LLC acquired a new stake in shares of Broadcom Inc. (NASDAQ:AVGO) during the 4th quarter, HoldingsChannel reports. The institutional investor acquired 4,223 shares of the semiconductor manufacturer’s stock, valued at approximately $1,462,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of AVGO. DUTCH ASSET Corp acquired a new stake in Broadcom in the 4th quarter worth approximately $1,651,000. Green Ridge Wealth Planning LLC acquired a new stake in shares of Broadcom during the fourth quarter worth $706,000. Downshift Financial LLC purchased a new stake in shares of Broadcom during the fourth quarter valued at $260,000. Advisortrust Partners LLC purchased a new stake in shares of Broadcom during the fourth quarter valued at $15,228,000. Finally, PeakShares LLC acquired a new position in shares of Broadcom in the 4th quarter valued at $918,000. 76.43% of the stock is owned by hedge funds and other institutional investors.

Broadcom News Summary

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.

Insider Activity

In related news, Director Gayla J. Delly sold 1,000 shares of Broadcom stock in a transaction that occurred on Thursday, April 9th. The stock was sold at an average price of $358.31, for a total transaction of $358,310.00. Following the completion of the transaction, the director directly owned 32,352 shares in the company, valued at approximately $11,592,045.12. This trade represents a 3.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Charlie B. Kawwas sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 8th. The shares were sold at an average price of $345.23, for a total value of $3,452,300.00. Following the completion of the transaction, the insider directly owned 787,184 shares of the company’s stock, valued at $271,759,532.32. The trade was a 1.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 59,385 shares of company stock valued at $21,301,057 over the last 90 days. Company insiders own 1.90% of the company’s stock.

Analyst Ratings Changes

AVGO has been the subject of a number of research analyst reports. Bank of America raised their target price on Broadcom from $450.00 to $530.00 and gave the stock a “buy” rating in a research note on Thursday, June 4th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $515.00 price objective (up from $430.00) on shares of Broadcom in a report on Thursday, June 4th. Citigroup restated a “buy” rating on shares of Broadcom in a research note on Thursday, June 4th. Mizuho lifted their target price on Broadcom from $480.00 to $530.00 and gave the stock an “outperform” rating in a report on Thursday, June 4th. Finally, KeyCorp reiterated an “overweight” rating and issued 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-nine have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $490.13.

Broadcom Price Performance

NASDAQ:AVGO opened at $411.35 on Monday. Broadcom Inc. has a one year low of $244.17 and a one year high of $495.00. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.01 and a current ratio of 2.24. The firm has a market cap of $1.96 trillion, a price-to-earnings ratio of 68.56, a PEG ratio of 0.72 and a beta of 1.41. The firm’s fifty day moving average is $411.42 and its two-hundred day moving average is $363.34.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share for the quarter, topping the consensus estimate of $2.40 by $0.04. The company had revenue of $22.19 billion for the quarter, compared to the consensus estimate of $22.13 billion. Broadcom had a return on equity of 41.61% and a net margin of 38.85%.The firm’s revenue for the quarter was up 47.9% compared to the same quarter last year. During the same period last year, the firm earned $1.58 EPS. Research analysts expect that Broadcom Inc. will post 10.24 EPS for the current year.

Broadcom Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 22nd will be issued a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Monday, June 22nd. Broadcom’s dividend payout ratio (DPR) is 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.