GSA Capital Partners LLP Purchases Shares of 5,968 Broadcom Inc. $AVGO

GSA Capital Partners LLP acquired a new stake in shares of Broadcom Inc. (NASDAQ:AVGO) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 5,968 shares of the semiconductor manufacturer’s stock, valued at approximately $2,254,000.

Other large investors have also modified their holdings of the company. Bank of America Corp DE grew its position in Broadcom by 1.5% during the first quarter. Bank of America Corp DE now owns 58,737,097 shares of the semiconductor manufacturer’s stock valued at $18,179,719,000 after acquiring an additional 894,564 shares during the period. Bartlett & CO. Wealth Management LLC increased its stake in Broadcom by 129.3% during the first quarter. Bartlett & CO. Wealth Management LLC now owns 110,048 shares of the semiconductor manufacturer’s stock worth $34,061,000 after acquiring an additional 62,050 shares during the last quarter. First Bank & Trust raised its holdings in shares of Broadcom by 17.2% in the 2nd quarter. First Bank & Trust now owns 10,503 shares of the semiconductor manufacturer’s stock worth $3,968,000 after purchasing an additional 1,545 shares during the period. Fifth Lane Capital LP raised its holdings in shares of Broadcom by 77.8% in the 4th quarter. Fifth Lane Capital LP now owns 4,000 shares of the semiconductor manufacturer’s stock worth $1,384,000 after purchasing an additional 1,750 shares during the period. Finally, Wealthcare Capital Partners LLC lifted its stake in shares of Broadcom by 36.4% in the 2nd quarter. Wealthcare Capital Partners LLC now owns 4,407 shares of the semiconductor manufacturer’s stock valued at $1,665,000 after purchasing an additional 1,176 shares in the last quarter. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

AVGO has been the subject of a number of research analyst reports. Benchmark increased their target price on shares of Broadcom from $485.00 to $545.00 and gave the stock a “buy” rating in a research report on Thursday, June 4th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $525.00 price target on shares of Broadcom in a research report on Thursday, June 4th. Jefferies Financial Group set a $550.00 price objective on shares of Broadcom and gave the stock a “buy” rating in a research note on Thursday, June 4th. Royal Bank Of Canada increased their price objective on shares of Broadcom from $360.00 to $400.00 and gave the stock a “sector perform” rating in a research report on Thursday, June 4th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $515.00 target price (up from $430.00) on shares of Broadcom in a research note on Thursday, June 4th. Twenty-nine analysts have rated the stock with a Buy rating and four 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 an average target price of $491.97.

Insider Activity

In other news, Director Harry L. You purchased 1,000 shares of the company’s stock in a transaction that occurred on Thursday, June 11th. The shares were purchased at an average price of $373.57 per share, with a total value of $373,570.00. Following the purchase, the director directly owned 38,466 shares of the company’s stock, valued at approximately $14,369,743.62. This represents a 2.67% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Justine Page sold 1,602 shares of the business’s stock in a transaction on Monday, June 29th. The stock was sold at an average price of $373.86, for a total transaction of $598,923.72. Following the completion of the transaction, the director owned 17,426 shares in the company, valued at $6,514,884.36. This represents a 8.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 61,644 shares of company stock valued at $24,016,214 in the last 90 days. Company insiders own 1.90% of the company’s stock.

Broadcom Stock Performance

Broadcom stock opened at $358.76 on Tuesday. The firm has a market capitalization of $1.71 trillion, a PE ratio of 59.79, a price-to-earnings-growth ratio of 0.70 and a beta of 1.45. Broadcom Inc. has a one year low of $287.17 and a one year high of $495.00. The stock’s 50 day moving average price is $387.86 and its 200 day moving average price is $375.37. 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 (NASDAQ:AVGO) last issued its quarterly earnings data on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.40 by $0.04. The company had revenue of $22.19 billion during the quarter, compared to the consensus estimate of $22.13 billion. Broadcom had a net margin of 38.85% and a return on equity of 41.61%. Broadcom’s revenue for the quarter was up 47.9% on a year-over-year basis. During the same quarter last year, the company earned $1.58 earnings per share. As a group, sell-side analysts expect that Broadcom Inc. will post 10.24 EPS for the current fiscal year.

Broadcom Dividend Announcement

The company also recently declared 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 of this dividend was Monday, June 22nd. Broadcom’s dividend payout ratio (DPR) is presently 43.33%.

Trending Headlines about Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom’s prior experience losing a major customer offers some reassurance: after Apple reportedly planned to drop a key chip in 2023, Broadcom’s revenue nearly doubled over the following two fiscal years. This history may temper concerns that the company’s business would deteriorate quickly if a hyperscaler develops more of its own silicon. Broadcom Has Seen Its Biggest Customer Drop a Key Chip Before. History Says What the Stock Did Next.
• Neutral Sentiment: Broadcom and Marvell remain major suppliers in the custom AI-chip market, with demand from hyperscalers supporting the long-term opportunity. However, investors are focused on which company can deliver better performance at lower cost. Broadcom vs. Marvell Technology: 1 Critical Metric Decides the Better Custom AI Chip Stock
• Negative Sentiment: Broadcom’s planned roughly $60 billion AI financing arrangement is raising balance-sheet and credit concerns. Critics argue that funding customer deployments through structures that keep debt off Broadcom’s books could still leave the company exposed to customer concentration, repayment and demand risks. AVGO stock slips nearly 3% — Broadcom’s AI spending is pushing credit risks higher
• Negative Sentiment: Analysts and commentators question whether Broadcom can achieve its ambitious $100 billion AI-revenue target, particularly as the stock’s valuation leaves less room for execution mistakes. Broadcom: $100 Billion In AI Revenue Is A Lot To Ask
• Negative Sentiment: Marvell’s expanded custom-chip agreement with Google has intensified fears that Broadcom could lose share or pricing power in the hyperscaler market. The competitive threat has contributed to a decline in AVGO shares and increased scrutiny of upcoming AI guidance. Marvell Takes a Shot at Broadcom’s Throne With Google Deal
• Negative Sentiment: Semiconductor stocks broadly sold off ahead of NVIDIA’s results, with chip ETFs and peers such as Intel, AMD and Taiwan Semiconductor also weakening. This sector-wide de-risking is adding to AVGO-specific selling pressure. Semiconductor Stocks Slide Ahead of NVIDIA Earnings

Broadcom 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.