Broadcom Inc. $AVGO Shares Purchased by Trivest Advisors Ltd

Trivest Advisors Ltd increased its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 27.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 730,000 shares of the semiconductor manufacturer’s stock after purchasing an additional 157,500 shares during the quarter. Broadcom accounts for about 11.5% of Trivest Advisors Ltd’s investment portfolio, making the stock its 3rd largest holding. Trivest Advisors Ltd’s holdings in Broadcom were worth $252,653,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Miller Global Investments LLC acquired a new stake in Broadcom during the 4th quarter worth approximately $31,000. Nvest Wealth Strategies Inc. acquired a new stake in Broadcom during the 4th quarter worth approximately $33,000. Family CFO Inc acquired a new stake in Broadcom during the 4th quarter worth approximately $35,000. PayPay Securities Corp increased its position in Broadcom by 88.9% during the 4th quarter. PayPay Securities Corp now owns 119 shares of the semiconductor manufacturer’s stock worth $41,000 after purchasing an additional 56 shares in the last quarter. Finally, Cherry Tree Wealth Management LLC increased its position in Broadcom by 44.9% during the 4th quarter. Cherry Tree Wealth Management LLC now owns 129 shares of the semiconductor manufacturer’s stock worth $45,000 after purchasing an additional 40 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on AVGO shares. Evercore reissued an “outperform” rating and set a $582.00 target price on shares of Broadcom in a research report on Tuesday, May 19th. KeyCorp reissued an “overweight” rating and set a $575.00 target price (up from $500.00) on shares of Broadcom in a research report on Thursday. Bank of America increased their target price on shares of Broadcom from $450.00 to $530.00 and gave the stock a “buy” rating in a research report on Thursday, June 4th. Oppenheimer reissued an “outperform” rating and set a $535.00 target price (up from $450.00) on shares of Broadcom in a research report on Thursday. Finally, Weiss Ratings raised shares of Broadcom from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, May 27th. One investment analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Broadcom currently has an average rating of “Moderate Buy” and a consensus price target of $490.13.

Broadcom Stock Up 2.8%

Shares of NASDAQ:AVGO opened at $396.60 on Tuesday. The company has a quick ratio of 2.01, a current ratio of 2.24 and a debt-to-equity ratio of 0.71. Broadcom Inc. has a 52-week low of $241.11 and a 52-week high of $495.00. The company has a 50 day moving average of $397.96 and a two-hundred day moving average of $362.43. The company has a market capitalization of $1.88 trillion, a price-to-earnings ratio of 66.10, a price-to-earnings-growth ratio of 0.70 and a beta of 1.41.

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. Broadcom had a net margin of 38.85% and a return on equity of 41.61%. The company had revenue of $22.19 billion during the quarter, compared to the consensus estimate of $22.13 billion. During the same quarter last year, the company earned $1.58 earnings per share. Broadcom’s revenue for the quarter was up 47.9% on a year-over-year basis. As a group, analysts forecast that Broadcom Inc. will post 9.97 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 22nd will be given a $0.65 dividend. The ex-dividend date of this dividend is Monday, June 22nd. This represents a $2.60 annualized dividend and a yield of 0.7%. Broadcom’s dividend payout ratio (DPR) is 43.33%.

Key Stories Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom announced expanded security investments for the Spring and Java ecosystem, aiming to help enterprise customers defend against AI-enabled threats and reinforcing its software strategy. Broadcom Expands Its Investment in Spring and Java Ecosystem Security to Prepare Customers for AI-Enabled Threats
• Positive Sentiment: Several analysts and market commentators said the recent post-earnings decline may be exaggerated, arguing that Broadcom’s strong revenue growth and AI momentum still support the long-term story. Jim Cramer on Broadcom: “The Disappointing Earnings May Not Be as Crushing as We Think”
• Positive Sentiment: Wall Street sentiment remains constructive, with Bank of America raising its price target on Broadcom to $530 from $450 while keeping a Buy rating after the latest quarterly results and guidance. Is Broadcom (AVGO) the Best Stock in Chase Coleman’s Tiger Global?

Insider Buying and Selling

In other news, insider S. Ram Velaga sold 8,000 shares of the stock in a transaction that occurred on Friday, April 10th. The stock was sold at an average price of $370.52, for a total transaction of $2,964,160.00. Following the completion of the transaction, the insider directly owned 57,932 shares in the company, valued at approximately $21,464,964.64. This represents a 12.13% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Gayla J. Delly sold 1,000 shares of the stock in a transaction that occurred on Thursday, April 9th. The shares were sold at an average price of $358.31, for a total value of $358,310.00. Following the transaction, the director owned 32,352 shares of the company’s stock, valued at approximately $11,592,045.12. This trade represents a 3.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 324,282 shares of company stock valued at $106,425,249 over the last three months. Company insiders own 1.90% of the company’s stock.

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.