Root Financial Partners LLC Sells 2,313 Shares of Broadcom Inc. $AVGO

Root Financial Partners LLC lessened its stake in Broadcom Inc. (NASDAQ:AVGO) by 6.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 30,982 shares of the semiconductor manufacturer’s stock after selling 2,313 shares during the period. Broadcom accounts for approximately 0.4% of Root Financial Partners LLC’s investment portfolio, making the stock its 26th largest holding. Root Financial Partners LLC’s holdings in Broadcom were worth $9,589,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Norges Bank purchased a new stake in Broadcom during the fourth quarter valued at approximately $24,252,196,000. Cardano Risk Management B.V. grew its holdings in Broadcom by 895.2% in the fourth quarter. Cardano Risk Management B.V. now owns 12,689,800 shares of the semiconductor manufacturer’s stock worth $4,391,940,000 after purchasing an additional 11,414,701 shares during the last quarter. State Street Corp increased its position in shares of Broadcom by 2.7% during the fourth quarter. State Street Corp now owns 190,084,351 shares of the semiconductor manufacturer’s stock worth $65,788,194,000 after purchasing an additional 5,040,801 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of Broadcom by 499.4% during the third quarter. Arrowstreet Capital Limited Partnership now owns 5,634,232 shares of the semiconductor manufacturer’s stock worth $1,858,789,000 after purchasing an additional 4,694,313 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of Broadcom by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 482,707,302 shares of the semiconductor manufacturer’s stock valued at $167,064,997,000 after purchasing an additional 3,919,715 shares during the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Broadcom news, insider S. Ram Velaga sold 17,260 shares of the business’s stock in a transaction that occurred on Thursday, April 9th. The stock was sold at an average price of $352.12, for a total transaction of $6,077,591.20. Following the completion of the sale, the insider directly owned 65,932 shares in the company, valued at approximately $23,215,975.84. The trade was a 20.75% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Justine Page sold 2,018 shares of the stock in a transaction that occurred on Wednesday, April 8th. The shares were sold at an average price of $353.00, for a total value of $712,354.00. Following the transaction, the director directly owned 18,164 shares of the company’s stock, valued at $6,411,892. The trade was a 10.00% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 60,987 shares of company stock worth $21,899,980. Company insiders own 1.90% of the company’s stock.

Broadcom Stock Performance

Shares of AVGO stock opened at $360.45 on Monday. Broadcom Inc. has a 1-year low of $269.58 and a 1-year high of $495.00. The company has a market cap of $1.71 trillion, a price-to-earnings ratio of 60.08, a PEG ratio of 0.63 and a beta of 1.45. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.24 and a quick ratio of 2.01. The stock has a 50 day simple moving average of $407.92 and a 200-day simple moving average of $362.49.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 net margin of 38.85% and a return on equity of 41.61%. The firm’s revenue for the quarter was up 47.9% compared to the same quarter last year. During the same quarter last year, the company earned $1.58 EPS. On average, equities research analysts expect that Broadcom Inc. will post 10.24 EPS for the current fiscal year.

Broadcom Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 22nd were paid a dividend of $0.65 per share. The ex-dividend date of this dividend was 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 currently 43.33%.

Broadcom News Summary

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: JPMorgan, UBS, Jefferies and other analysts remain constructive on Broadcom’s AI-driven growth, with price targets well above current levels and continued optimism around custom AI silicon demand, including exposure to customers such as OpenAI and Anthropic. UBS Reaffirms Buy Rating on Broadcom (AVGO) Amid AI ASIC Demand and OpenAI, Anthropic Growth
• Positive Sentiment: Articles highlighting Broadcom’s partnership with OpenAI on the “Jalapeño” AI accelerator reinforce the market’s bullish view that AI infrastructure can keep driving revenue growth. What Broadcom (AVGO)’s Jalapeño AI Accelerator Partnership With OpenAI Means For Shareholders
• Neutral Sentiment: Several recent write-ups argue Broadcom may be attractive after its pullback, but they mostly restate the same long-term thesis rather than pointing to a new catalyst. Why Broadcom Stock Slumped Today
• Neutral Sentiment: Investors continue to search for clues on whether Broadcom can rebound from its post-earnings decline, with coverage focusing on earnings estimates and fair-value changes. Broadcom (AVGO) Stock Gets Fair Value Boost As Analysts Split On AI Outlook
• Negative Sentiment: Director Justine Page sold 1,602 shares of Broadcom stock, extending insider-selling headlines that can weigh on sentiment even if the sale is relatively small versus the company’s size. SEC Form 4 filing for Justine Page sale
• Negative Sentiment: Broadcom remains about 14% below its last earnings report level, and recent commentary suggests investors are still uneasy about whether the company’s strong results were enough to justify its premium valuation. Broadcom Inc. (AVGO) Down 14% Since Last Earnings Report: Can It Rebound?

Analysts Set New Price Targets

AVGO has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $515.00 price objective (up from $430.00) on shares of Broadcom in a report on Thursday, June 4th. Benchmark raised their price objective on shares of Broadcom from $485.00 to $545.00 and gave the stock a “buy” rating in a research note on Thursday, June 4th. Seaport Research Partners reaffirmed a “neutral” rating on shares of Broadcom in a report on Wednesday, April 8th. Bank of America boosted their target price on shares of Broadcom from $450.00 to $530.00 and gave the company a “buy” rating in a research note on Thursday, June 4th. Finally, Weiss Ratings lowered shares of Broadcom from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, June 26th. One research 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 an average rating of “Moderate Buy” and an average target price of $493.24.

Broadcom 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.