Broadcom Inc. $AVGO is Gateway Investment Advisers LLC’s 7th Largest Position

Gateway Investment Advisers LLC trimmed its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 1.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 683,491 shares of the semiconductor manufacturer’s stock after selling 12,454 shares during the period. Broadcom comprises about 2.5% of Gateway Investment Advisers LLC’s portfolio, making the stock its 7th largest position. Gateway Investment Advisers LLC’s holdings in Broadcom were worth $258,189,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the business. Brighton Jones LLC raised its stake in Broadcom by 21.8% in the fourth quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer’s stock worth $6,882,000 after buying an additional 5,322 shares in the last quarter. Revolve Wealth Partners LLC boosted its position in Broadcom by 10.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 7,997 shares of the semiconductor manufacturer’s stock valued at $1,854,000 after acquiring an additional 756 shares in the last quarter. United Bank boosted its position in Broadcom by 76.5% during the 1st quarter. United Bank now owns 2,339 shares of the semiconductor manufacturer’s stock valued at $392,000 after acquiring an additional 1,014 shares in the last quarter. Sivia Capital Partners LLC increased its holdings in shares of Broadcom by 10.1% in the 2nd quarter. Sivia Capital Partners LLC now owns 12,693 shares of the semiconductor manufacturer’s stock valued at $3,499,000 after acquiring an additional 1,160 shares during the period. Finally, Capital & Planning LLC increased its holdings in shares of Broadcom by 10.5% in the 2nd quarter. Capital & Planning LLC now owns 3,983 shares of the semiconductor manufacturer’s stock valued at $1,098,000 after acquiring an additional 378 shares during the period. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Broadcom Price Performance

Shares of NASDAQ AVGO opened at $393.05 on Friday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.01 and a current ratio of 2.24. The company has a market cap of $1.87 trillion, a PE ratio of 65.51, a P/E/G ratio of 0.80 and a beta of 1.45. The business has a 50-day simple moving average of $389.79 and a two-hundred day simple moving average of $373.30. Broadcom Inc. has a fifty-two week low of $281.87 and a fifty-two week high of $495.00.

Broadcom (NASDAQ:AVGO) last posted 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 firm had revenue of $22.19 billion for 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%. The company’s revenue for the quarter was up 47.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.58 earnings per share. As a group, equities analysts expect that Broadcom Inc. will post 10.24 EPS for the current fiscal year.

Broadcom Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 22nd were paid a dividend of $0.65 per share. The ex-dividend date was Monday, June 22nd. This represents a $2.60 dividend on an annualized basis and a yield of 0.7%. Broadcom’s dividend payout ratio is presently 43.33%.

Insider Activity at Broadcom

In other news, insider Mark David Brazeal sold 25,000 shares of the business’s stock in a transaction on Friday, July 10th. The shares were sold at an average price of $401.33, for a total transaction of $10,033,250.00. Following the sale, the insider directly owned 194,989 shares of the company’s stock, valued at $78,254,935.37. The trade was a 11.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Justine Page sold 1,602 shares of the company’s stock in a transaction on Monday, June 29th. The shares were sold at an average price of $373.86, for a total value of $598,923.72. Following the completion of the transaction, the director directly owned 17,426 shares in the company, valued at approximately $6,514,884.36. The trade was a 8.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 61,644 shares of company stock worth $24,016,214. Corporate insiders own 1.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Wall Street Zen cut Broadcom from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 18th. UBS Group set a $485.00 target price on shares of Broadcom and gave the stock a “buy” rating in a report on Thursday, June 4th. Benchmark raised their price target on shares of Broadcom from $485.00 to $545.00 and gave the company a “buy” rating in a report on Thursday, June 4th. Mizuho lifted their price objective on shares of Broadcom from $480.00 to $530.00 and gave the stock an “outperform” rating in a research report on Thursday, June 4th. Finally, Susquehanna reiterated a “positive” rating and set a $490.00 price objective (up from $450.00) on shares of Broadcom in a research note on Thursday, May 28th. Twenty-eight research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $493.24.

Broadcom News Summary

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom’s custom-silicon and XPU opportunity remains a key long-term catalyst. Analysts and commentators point to accelerating AI infrastructure spending, major customer agreements, and potential growth in custom chips and networking. Broadcom: XPU Growth Trajectory Underestimated, Stock A Bargain
• Positive Sentiment: Wall Street’s average price target implies substantial upside from recent trading levels, supporting the bullish view that the market may be underestimating Broadcom’s AI growth trajectory. Broadcom is Down Over 3 Months: One Wall Street Pro Sees 60%+ Gains Ahead
• Positive Sentiment: Continued institutional interest, including purchases by GAMCO Investors and Cathie Wood’s reported investment, provides some additional support for the stock’s long-term AI investment case. Cathie Wood buys $16.2 million of Broadcom

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.