Broadcom Inc. $AVGO Shares Purchased by PUREfi Wealth LLC

PUREfi Wealth LLC increased its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 12.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 12,334 shares of the semiconductor manufacturer’s stock after buying an additional 1,317 shares during the period. Broadcom accounts for 2.5% of PUREfi Wealth LLC’s holdings, making the stock its 6th biggest position. PUREfi Wealth LLC’s holdings in Broadcom were worth $3,817,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. ROSS JOHNSON & Associates LLC grew its position in shares of Broadcom by 1,320.0% during the 4th quarter. ROSS JOHNSON & Associates LLC now owns 71 shares of the semiconductor manufacturer’s stock valued at $25,000 after acquiring an additional 66 shares during the period. Networth Advisors LLC raised its holdings in Broadcom by 546.2% in the 1st quarter. Networth Advisors LLC now owns 84 shares of the semiconductor manufacturer’s stock worth $26,000 after purchasing an additional 71 shares during the period. SWAN Capital LLC raised its holdings in Broadcom by 261.9% in the 4th quarter. SWAN Capital LLC now owns 76 shares of the semiconductor manufacturer’s stock worth $26,000 after purchasing an additional 55 shares during the period. Miller Global Investments LLC purchased a new position in Broadcom during the fourth quarter worth approximately $31,000. Finally, Nvest Wealth Strategies Inc. purchased a new position in Broadcom during the fourth quarter worth approximately $33,000. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Broadcom Trading Up 3.2%

Shares of AVGO opened at $401.11 on Friday. Broadcom Inc. has a 52-week low of $269.58 and a 52-week high of $495.00. The stock has a market cap of $1.91 trillion, a PE ratio of 66.85, a price-to-earnings-growth ratio of 0.68 and a beta of 1.45. The firm’s fifty day moving average is $405.40 and its two-hundred day moving average is $363.87. 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 issued its earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 EPS for the quarter, beating analysts’ consensus estimates of $2.40 by $0.04. The business had revenue of $22.19 billion during the quarter, compared to analysts’ expectations of $22.13 billion. Broadcom had a net margin of 38.85% and a return on equity of 41.61%. The company’s quarterly revenue was up 47.9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.58 earnings per share. Research analysts forecast that Broadcom Inc. will post 10.24 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 22nd were paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend was Monday, June 22nd. Broadcom’s dividend payout ratio (DPR) is 43.33%.

Insider Transactions at Broadcom

In other Broadcom news, insider Mark David Brazeal sold 4,825 shares of the business’s stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $394.91, for a total transaction of $1,905,440.75. Following the transaction, the insider owned 269,989 shares of the company’s stock, valued at approximately $106,621,355.99. The trade was a 1.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Harry L. You bought 1,000 shares of the company’s stock in a transaction on Thursday, June 11th. The stock was bought at an average price of $373.57 per share, with a total value of $373,570.00. Following the completion of the acquisition, the director owned 38,466 shares in the company, valued at $14,369,743.62. This represents a 2.67% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have sold a total of 9,754 shares of company stock worth $3,774,846 in the last ninety days. Insiders own 1.90% of the company’s stock.

Trending Headlines about Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Apple’s multiyear agreement to buy more than $30 billion of Broadcom chips through 2031 reinforces demand for Broadcom’s custom silicon and U.S. manufacturing strategy. Reuters: Apple to spend $30 billion in Broadcom chips deal that will see Colorado factory expand
• Positive Sentiment: Wall Street remains upbeat on Broadcom’s AI chip momentum, with Jefferies reiterating a Buy rating and a $550 price target on improving AI-related growth prospects. Broadcom’s (AVGO) AI Chip Momentum Keeps Wall Street Bullish
• Positive Sentiment: Broader semiconductor sentiment improved as the AI trade rebounded, with analysts and market commentators viewing the recent selloff as a buying opportunity for chip stocks like Broadcom. Broadcom, Intel, Corning, Marvell, and More Stocks That Explain Today’s Market
• Neutral Sentiment: Zacks highlighted Broadcom as a dividend-paying AI infrastructure name, underscoring its mix of income and AI exposure, but this was more of a stock-picking view than a new company-specific catalyst. These Dividend Paying Stocks Offer Strong Exposure to AI Trends
• Negative Sentiment: Erste Group downgraded Broadcom to Hold, citing valuation concerns, which may temper some of the enthusiasm after the recent rally. Erste Group downgrades Broadcom to Hold citing valuation concerns

Analyst Ratings Changes

A number of analysts have recently commented on the company. UBS Group set a $485.00 price objective on Broadcom and gave the company a “buy” rating in a research report on Thursday, June 4th. The Goldman Sachs Group reiterated a “buy” rating and set a $525.00 target price on shares of Broadcom in a research report on Thursday, June 4th. Mizuho lifted their price target on shares of Broadcom from $480.00 to $530.00 and gave the company an “outperform” rating in a research note on Thursday, June 4th. Dbs Bank raised shares of Broadcom to a “moderate buy” rating in a report on Thursday, June 18th. Finally, KeyCorp reaffirmed an “overweight” rating and set a $575.00 price objective (up from $500.00) on shares of Broadcom in a report on Thursday, June 4th. One research analyst has rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $493.24.

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.