Niles Investment Management LLC Acquires Shares of 16,795 Broadcom Inc. $AVGO

Niles Investment Management LLC bought a new stake in shares of Broadcom Inc. (NASDAQ:AVGO) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 16,795 shares of the semiconductor manufacturer’s stock, valued at approximately $5,813,000. Broadcom comprises 4.4% of Niles Investment Management LLC’s holdings, making the stock its 9th biggest position.

Several other institutional investors have also recently added to or reduced their stakes in AVGO. ROSS JOHNSON & Associates LLC increased its position in shares of Broadcom by 1,320.0% in the 4th quarter. ROSS JOHNSON & Associates LLC now owns 71 shares of the semiconductor manufacturer’s stock worth $25,000 after purchasing an additional 66 shares during the last quarter. SWAN Capital LLC raised its stake in Broadcom by 261.9% during the fourth quarter. SWAN Capital LLC now owns 76 shares of the semiconductor manufacturer’s stock valued at $26,000 after buying an additional 55 shares in the last quarter. Miller Global Investments LLC bought a new position in Broadcom during the 4th quarter worth approximately $31,000. Nvest Wealth Strategies Inc. bought a new stake in shares of Broadcom in the 4th quarter valued at approximately $33,000. Finally, Family CFO Inc bought a new stake in Broadcom during the fourth quarter valued at $35,000. 76.43% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on AVGO shares. Mizuho lifted their target price on Broadcom from $480.00 to $530.00 and gave the company an “outperform” rating in a research note on Thursday, June 4th. Cantor Fitzgerald restated an “overweight” rating and set a $525.00 price objective on shares of Broadcom in a research note on Thursday, June 4th. Truist Financial raised their target price on Broadcom from $545.00 to $550.00 and gave the company a “buy” rating in a research note on Thursday, June 4th. Weiss Ratings upgraded shares of Broadcom from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, June 9th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Broadcom from $500.00 to $580.00 and gave the stock an “overweight” rating in a report on Thursday, June 4th. One analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, Broadcom presently has a consensus rating of “Moderate Buy” and a consensus target price of $490.13.

Broadcom Stock Performance

Shares of NASDAQ:AVGO opened at $382.07 on Monday. The company has a 50 day moving average of $404.26 and a 200-day moving average of $363.22. The company has a current ratio of 2.24, a quick ratio of 2.01 and a debt-to-equity ratio of 0.71. The firm has a market cap of $1.82 trillion, a P/E ratio of 63.68, a P/E/G ratio of 0.67 and a beta of 1.41. Broadcom Inc. has a twelve month low of $244.17 and a twelve month high of $495.00.

Broadcom (NASDAQ:AVGO) last issued its quarterly 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. The company 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 firm’s revenue for the quarter was up 47.9% on a year-over-year basis. During the same period last year, the firm earned $1.58 EPS. As a group, analysts anticipate that Broadcom Inc. will post 10.24 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

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

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

Insider Buying and Selling at Broadcom

In other Broadcom news, insider S. Ram Velaga sold 8,000 shares of the firm’s stock in a transaction dated Friday, April 10th. The shares were sold at an average price of $370.52, for a total value of $2,964,160.00. Following the completion of the transaction, the insider directly owned 57,932 shares in the company, valued at $21,464,964.64. This trade represents a 12.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Kirsten M. Spears sold 36,292 shares of the firm’s stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $321.60, for a total value of $11,671,507.20. Following the completion of the sale, 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 disclosure for this sale is available in the SEC filing. Insiders sold a total of 215,970 shares of company stock valued at $71,104,945 over the last 90 days. 1.90% of the stock is owned by insiders.

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.