Broadcom Inc. $AVGO Shares Acquired by Hodges Capital Management Inc.

Hodges Capital Management Inc. increased its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 25.4% during the 1st quarter, Holdings Channel.com reports. The firm owned 29,739 shares of the semiconductor manufacturer’s stock after buying an additional 6,015 shares during the quarter. Hodges Capital Management Inc.’s holdings in Broadcom were worth $9,204,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in AVGO. Brighton Jones LLC raised its stake in shares of Broadcom by 21.8% in the 4th 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 grew its holdings in Broadcom by 10.4% during the fourth quarter. Revolve Wealth Partners LLC now owns 7,997 shares of the semiconductor manufacturer’s stock worth $1,854,000 after acquiring an additional 756 shares during the period. United Bank raised its position in Broadcom by 76.5% in the first quarter. United Bank now owns 2,339 shares of the semiconductor manufacturer’s stock worth $392,000 after acquiring an additional 1,014 shares in the last quarter. Sivia Capital Partners LLC raised its position in Broadcom by 10.1% in the second quarter. Sivia Capital Partners LLC now owns 12,693 shares of the semiconductor manufacturer’s stock worth $3,499,000 after acquiring an additional 1,160 shares in the last quarter. Finally, Capital & Planning LLC lifted its holdings in 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 last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Key Stories Impacting 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

Insider Activity at Broadcom

In other Broadcom news, Director Justine Page sold 1,602 shares of the firm’s stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $373.86, for a total transaction of $598,923.72. Following the completion of the sale, the director directly owned 17,426 shares in the company, valued at approximately $6,514,884.36. This trade represents a 8.42% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Mark David Brazeal sold 4,825 shares of Broadcom stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $394.91, for a total value of $1,905,440.75. Following the transaction, the insider directly owned 269,989 shares in the company, valued at approximately $106,621,355.99. This trade represents a 1.76% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 9,754 shares of company stock valued at $3,774,846. Company insiders own 1.90% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on AVGO shares. Truist Financial raised their price objective on shares of Broadcom from $545.00 to $550.00 and gave the company a “buy” rating in a research report on Thursday, June 4th. Evercore reissued an “outperform” rating and set a $582.00 target price on shares of Broadcom in a research note on Tuesday, May 19th. Benchmark raised their target price on shares of Broadcom from $485.00 to $545.00 and gave the stock a “buy” rating in a report on Thursday, June 4th. Bank of America lifted their price target on shares of Broadcom from $450.00 to $530.00 and gave the stock a “buy” rating in a research report on Thursday, June 4th. Finally, Jefferies Financial Group set a $550.00 price target on Broadcom and gave the company a “buy” rating in a report on Thursday, June 4th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat, Broadcom presently has an average rating of “Moderate Buy” and an average price target of $493.24.

Broadcom Trading Up 3.2%

Broadcom stock opened at $401.11 on Friday. The company has a 50 day moving average price of $405.40 and a 200 day moving average price of $363.87. Broadcom Inc. has a 52 week low of $269.58 and a 52 week high of $495.00. 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 firm has a market capitalization of $1.91 trillion, a price-to-earnings ratio of 66.85, a P/E/G ratio of 0.68 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. The company 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 was up 47.9% on a year-over-year basis. During the same period in the previous year, the business earned $1.58 EPS. Research analysts forecast that Broadcom Inc. will post 10.24 EPS for the current year.

Broadcom Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 22nd were issued 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 dividend yield of 0.6%. Broadcom’s payout ratio is currently 43.33%.

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.