Platinum Investment Management Ltd. Has $10.69 Million Stake in Broadcom Inc. $AVGO

Platinum Investment Management Ltd. decreased its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 85.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 30,874 shares of the semiconductor manufacturer’s stock after selling 182,187 shares during the quarter. Broadcom makes up 2.5% of Platinum Investment Management Ltd.’s investment portfolio, making the stock its 5th largest position. Platinum Investment Management Ltd.’s holdings in Broadcom were worth $10,685,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Brown Brothers Harriman & Co. grew its stake in shares of Broadcom by 10.7% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 77,411 shares of the semiconductor manufacturer’s stock worth $25,539,000 after acquiring an additional 7,499 shares during the period. Dana Investment Advisors Inc. lifted its holdings in Broadcom by 2.6% during the 3rd quarter. Dana Investment Advisors Inc. now owns 173,759 shares of the semiconductor manufacturer’s stock worth $57,325,000 after purchasing an additional 4,442 shares in the last quarter. Sovran Advisors LLC lifted its holdings in Broadcom by 121.3% during the 4th quarter. Sovran Advisors LLC now owns 30,631 shares of the semiconductor manufacturer’s stock worth $10,507,000 after purchasing an additional 16,789 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in Broadcom by 406.1% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 11,994 shares of the semiconductor manufacturer’s stock worth $4,151,000 after purchasing an additional 9,624 shares in the last quarter. Finally, Siligmueller & Norvid Wealth Advisors LLC purchased a new stake in Broadcom during the 3rd quarter worth about $762,000. Institutional investors own 76.43% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on AVGO. Weiss Ratings raised Broadcom from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday. Evercore reissued an “outperform” rating and set a $582.00 price objective on shares of Broadcom in a report on Tuesday, May 19th. Erste Group Bank raised Broadcom from a “hold” rating to a “buy” rating in a report on Friday, June 5th. JPMorgan Chase & Co. increased their price objective on Broadcom from $500.00 to $580.00 and gave the stock an “overweight” rating in a report on Thursday, June 4th. Finally, Morgan Stanley set a $502.00 price objective on Broadcom and gave the stock an “overweight” rating in a report on Thursday, June 4th. One research analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, Broadcom presently has a consensus rating of “Moderate Buy” and a consensus price target of $490.13.

Broadcom Stock Performance

NASDAQ:AVGO opened at $382.07 on Friday. The business’s 50-day moving average price is $404.26 and its two-hundred day moving average price is $363.33. Broadcom Inc. has a twelve month low of $244.17 and a twelve month high of $495.00. The stock has a market cap of $1.82 trillion, a P/E ratio of 63.68, a PEG ratio of 0.68 and a beta of 1.41. 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 (NASDAQ:AVGO) last released its quarterly earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share for the quarter, beating the consensus estimate of $2.40 by $0.04. The firm had revenue of $22.19 billion for the quarter, compared to analysts’ expectations of $22.13 billion. Broadcom had a return on equity of 41.61% and a net margin of 38.85%.The company’s revenue was up 47.9% compared to the same quarter last year. During the same quarter last year, the firm posted $1.58 EPS. As a group, equities analysts predict that Broadcom Inc. will post 10.24 EPS for the current fiscal year.

Broadcom Dividend Announcement

The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Monday, June 22nd. Broadcom’s dividend payout ratio (DPR) is currently 43.33%.

Insider Transactions at Broadcom

In related news, CFO Kirsten M. Spears sold 36,292 shares of the firm’s stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $321.60, for a total transaction of $11,671,507.20. Following the transaction, the chief financial officer directly owned 327,760 shares of the company’s stock, valued at approximately $105,407,616. This trade represents a 9.97% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Charlie B. Kawwas sold 39,116 shares of the firm’s stock in a transaction dated Tuesday, March 17th. The shares were 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 approximately $24,000,467.86. This represents a 34.39% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 324,282 shares of company stock valued at $106,425,249. 1.90% of the stock is currently owned by corporate insiders.

Broadcom News Roundup

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

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.