Maridea Wealth Management LLC Invests $1.66 Million in Broadcom Inc. $AVGO

Maridea Wealth Management LLC bought a new position in shares of Broadcom Inc. (NASDAQ:AVGO) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 4,384 shares of the semiconductor manufacturer’s stock, valued at approximately $1,656,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. ROSS JOHNSON & Associates LLC grew its holdings in 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 buying an additional 66 shares in the last quarter. Networth Advisors LLC lifted its holdings in shares of Broadcom by 546.2% in the first quarter. Networth Advisors LLC now owns 84 shares of the semiconductor manufacturer’s stock worth $26,000 after buying an additional 71 shares in the last quarter. SWAN Capital LLC lifted its holdings in shares of Broadcom by 261.9% in the fourth quarter. SWAN Capital LLC now owns 76 shares of the semiconductor manufacturer’s stock worth $26,000 after buying an additional 55 shares in the last quarter. Nvest Wealth Strategies Inc. bought a new position in shares of Broadcom during the fourth quarter worth $33,000. Finally, Camelot Portfolios LLC purchased a new position in Broadcom during the fourth quarter valued at $45,000. Institutional investors own 76.43% of the company’s stock.

Insider Buying and Selling

In other news, insider Mark David Brazeal sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, July 10th. The stock was sold at an average price of $401.33, for a total value of $10,033,250.00. Following the completion of the sale, the insider directly owned 194,989 shares of the company’s stock, valued at $78,254,935.37. This trade represents a 11.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Gayla J. Delly sold 1,890 shares of Broadcom stock in a transaction that occurred on Wednesday, July 8th. The stock was sold at an average price of $385.38, for a total value of $728,368.20. Following the completion of the transaction, the director owned 31,326 shares of the company’s stock, valued at approximately $12,072,413.88. This trade represents a 5.69% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 61,644 shares of company stock valued at $24,016,214. 1.90% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

AVGO has been the topic of several research analyst reports. Erste Group Bank reiterated a “hold” rating on shares of Broadcom in a research note on Tuesday, July 7th. TD Cowen reaffirmed a “buy” rating and issued a $500.00 target price on shares of Broadcom in a report on Thursday, June 4th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $515.00 target price (up from $430.00) on shares of Broadcom in a research report on Thursday, June 4th. Rosenblatt Securities reissued a “buy” rating and set a $500.00 price target on shares of Broadcom in a research note on Thursday, June 4th. Finally, KeyCorp restated an “overweight” rating and set a $575.00 price target (up from $500.00) on shares of Broadcom in a report on Thursday, June 4th. Twenty-nine analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $491.97.

Broadcom Stock Performance

Shares of NASDAQ:AVGO opened at $358.76 on Tuesday. The firm has a fifty day simple moving average of $387.86 and a two-hundred day simple moving average of $375.37. Broadcom Inc. has a 52 week low of $287.17 and a 52 week high of $495.00. The company has a quick ratio of 2.01, a current ratio of 2.24 and a debt-to-equity ratio of 0.71. The stock has a market capitalization of $1.71 trillion, a P/E ratio of 59.79, a PEG ratio of 0.70 and a beta of 1.45.

Broadcom (NASDAQ:AVGO) last announced its earnings results 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 firm had revenue of $22.19 billion for the quarter, compared to analysts’ expectations of $22.13 billion. During the same period in the prior year, the company earned $1.58 EPS. The business’s revenue was up 47.9% compared to the same quarter last year. On average, analysts expect that Broadcom Inc. will post 10.24 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 22nd were given 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 43.33%.

Key Stories Impacting 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

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.