Broadcom Inc. $AVGO Shares Purchased by NovaPoint Capital LLC

NovaPoint Capital LLC raised its stake in Broadcom Inc. (NASDAQ:AVGO) by 4.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 30,054 shares of the semiconductor manufacturer’s stock after purchasing an additional 1,365 shares during the quarter. Broadcom accounts for 2.3% of NovaPoint Capital LLC’s investment portfolio, making the stock its 13th biggest holding. NovaPoint Capital LLC’s holdings in Broadcom were worth $9,302,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of AVGO. Norges Bank purchased a new position in Broadcom during the 4th quarter worth $24,252,196,000. Cardano Risk Management B.V. boosted its holdings in shares of Broadcom by 895.2% in the fourth quarter. Cardano Risk Management B.V. now owns 12,689,800 shares of the semiconductor manufacturer’s stock valued at $4,391,940,000 after acquiring an additional 11,414,701 shares in the last quarter. State Street Corp increased its stake in shares of Broadcom by 2.7% during 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. Vanguard Group Inc. increased its stake in shares of Broadcom by 0.8% during the fourth 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 period. Finally, Nordea Investment Management AB raised its holdings in Broadcom by 47.5% during the fourth quarter. Nordea Investment Management AB now owns 9,814,757 shares of the semiconductor manufacturer’s stock worth $3,406,211,000 after purchasing an additional 3,160,586 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insider Buying and Selling at Broadcom

In related news, insider Mark David Brazeal sold 25,000 shares of the stock in a transaction dated Friday, July 10th. The shares were sold at an average price of $401.33, for a total value of $10,033,250.00. Following the sale, the insider directly owned 194,989 shares of the company’s stock, valued at approximately $78,254,935.37. This represents a 11.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gayla J. Delly sold 1,890 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $12,072,413.88. This trade represents a 5.69% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 61,644 shares of company stock valued at $24,016,214 over the last 90 days. 1.90% of the stock is currently owned by corporate insiders.

Broadcom Stock Performance

AVGO opened at $378.16 on Tuesday. The stock’s 50 day simple moving average is $400.28 and its 200 day simple moving average is $365.62. The stock has a market cap of $1.80 trillion, a P/E ratio of 63.03, a P/E/G ratio of 0.65 and a beta of 1.45. Broadcom Inc. has a 1-year low of $273.00 and a 1-year high of $495.00. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.24 and a quick ratio of 2.01.

Broadcom (NASDAQ:AVGO) last posted its earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 EPS for the quarter, topping analysts’ consensus estimates 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%.Broadcom’s quarterly revenue was up 47.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.58 earnings per share. As a group, equities analysts anticipate that Broadcom Inc. will post 10.24 EPS for the current fiscal year.

Broadcom Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 22nd were given a $0.65 dividend. The ex-dividend date 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%.

Key Broadcom News

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Morgan Stanley said Broadcom remains one of its preferred ways to play the AI infrastructure buildout, calling AVGO an attractive risk-reward name after the recent semiconductor pullback. Broadcom stock gains 2% today: here’s why
• Positive Sentiment: Analysts and market commentary highlighted Broadcom as a high-cash-flow AI chip stock that could benefit as investors look for quality names amid market volatility. 4 High Cash-Producing AI Chip Stocks to Buy Amid Market Uncertainties
• Positive Sentiment: Broadcom’s AI business is being viewed as a key driver of the investment case, with reports noting strong AI chip revenue growth and a larger shift toward AI-related mix. AMD vs. Broadcom: The Better AI-Chip Stock to Buy After the Sell-Off
• Positive Sentiment: Broadcom also announced a major infrastructure software deal with Standard Chartered to modernize banking cloud operations across 54 markets, which supports its VMware-based software revenue stream. Broadcom (AVGO) Lands Standard Chartered Deal To Power Banking Cloud In 54 Markets
• Neutral Sentiment: Broadcom was included in broader “buy the dip” chip-sector commentary as investors looked for value after the recent memory and AI semiconductor sell-off. The Memory Stock Sell-Off Created a ‘Strong Entry Point,’ Says Morgan Stanley. Investors Are Buying In.
• Negative Sentiment: Recent articles also noted that semiconductor stocks had fallen into a bear market after a sharp index decline, reflecting ongoing sectorwide pressure that could cap gains for AVGO. Semiconductor stocks enter bear market: Is bubble burst next?

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Dbs Bank raised Broadcom to a “moderate buy” rating in a research note on Thursday, June 18th. Evercore reaffirmed an “outperform” rating and set a $582.00 price objective on shares of Broadcom in a report on Tuesday, May 19th. Jefferies Financial Group set a $550.00 price objective on Broadcom and gave the stock a “buy” rating in a research report on Thursday, June 4th. TD Cowen restated a “buy” rating and set a $500.00 target price on shares of Broadcom in a research report on Thursday, June 4th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $515.00 price target (up from $430.00) on shares of Broadcom in a research note on Thursday, June 4th. One investment analyst has rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, Broadcom currently has a consensus rating of “Moderate Buy” and an average target price of $493.24.

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.