Key Points
- Broadcom director Harry You bought 1,000 shares on June 11 at an average price of $373.57, totaling $373,570. After the purchase, he owned 38,466 shares, a 2.67% increase in his stake.
- Broadcom reported strong quarterly results, with EPS of $2.44 beating estimates and revenue of $22.19 billion, up 47.9% year over year. The company also continues to show strong profitability with a 41.61% return on equity.
- Wall Street remains broadly bullish on AVGO, with multiple analysts raising targets and the stock receiving a consensus “Moderate Buy” rating and average target price near $490. Broadcom also announced a quarterly dividend of $0.65 per share, payable June 30.
Broadcom Inc. (NASDAQ:AVGO - Get Free Report) Director Harry You acquired 1,000 shares of Broadcom stock in a transaction that occurred on Thursday, June 11th. The shares were bought at an average cost of $373.57 per share, with a total value of $373,570.00. Following the transaction, the director owned 38,466 shares in the company, valued at $14,369,743.62. This represents a 2.67% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this link.
Broadcom Stock Up 3.1%
AVGO stock opened at $393.94 on Tuesday. Broadcom Inc. has a twelve month low of $244.17 and a twelve month 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 firm has a market cap of $1.87 trillion, a PE ratio of 65.66, a price-to-earnings-growth ratio of 0.67 and a beta of 1.41. The business has a 50 day moving average of $405.85 and a 200 day moving average of $363.29.
Broadcom (NASDAQ:AVGO - Get Free Report) last posted its quarterly earnings data on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share for the quarter, beating analysts' consensus estimates of $2.40 by $0.04. Broadcom had a return on equity of 41.61% and a net margin of 38.85%.The company had revenue of $22.19 billion during the quarter, compared to analyst estimates of $22.13 billion. During the same quarter last year, the company earned $1.58 EPS. The firm's revenue for the quarter was up 47.9% on a year-over-year basis. On average, research analysts forecast that Broadcom Inc. will post 10.24 EPS for the current fiscal year.
Broadcom Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 22nd will be issued a $0.65 dividend. 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 dividend payout ratio (DPR) is presently 43.33%.
Analyst Ratings Changes
A number of research firms have commented on AVGO. Susquehanna reissued a "positive" rating and issued a $490.00 target price (up from $450.00) on shares of Broadcom in a report on Thursday, May 28th. Weiss Ratings raised Broadcom from a "buy (b-)" rating to a "buy (b)" rating in a report on Tuesday, June 9th. Wall Street Zen raised Broadcom from a "buy" rating to a "strong-buy" rating in a report on Monday. Oppenheimer reissued an "outperform" rating and issued a $535.00 target price (up from $450.00) on shares of Broadcom in a report on Thursday, June 4th. Finally, Citigroup reissued a "buy" rating on shares of Broadcom in a report on Thursday, June 4th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $490.13.
Check Out Our Latest Report on Broadcom
Key Stories Impacting Broadcom
Here are the key news stories impacting Broadcom this week:
- Positive Sentiment: Director Harry L. You bought 1,000 Broadcom shares in a disclosed SEC filing, a vote of confidence that can reassure investors about the company’s outlook. SEC Form 4 filing
- Positive Sentiment: Recent articles continue to frame Broadcom as a major beneficiary of the AI infrastructure buildout, with investors focusing on its custom compute, networking, and semiconductor exposure. Investopedia article
- Positive Sentiment: Broadcom was included in bullish commentary about “beaten down” AI infrastructure stocks, suggesting some investors see the recent pullback as a buying opportunity rather than a fundamental deterioration. 247WallSt article
- Positive Sentiment: Wall Street Zen reportedly upgraded Broadcom to Strong-Buy, adding to the bullish analyst tone around the stock. American Banking News article
- Neutral Sentiment: Some coverage compared Broadcom with other AI infrastructure names and noted that competitors may have stronger near-term upside, which could temper enthusiasm but does not change Broadcom’s long-term AI thesis. Zacks article
- Negative Sentiment: Recent market commentary said Broadcom’s stock pulled back after record quarterly results because investors were focused on cautious AI guidance and valuation concerns, which may be weighing on sentiment. Yahoo Finance article
Hedge Funds Weigh In On Broadcom
Institutional investors and hedge funds have recently bought and sold shares of the stock. ROSS JOHNSON & Associates LLC lifted its position in Broadcom by 1,320.0% during the fourth quarter. ROSS JOHNSON & Associates LLC now owns 71 shares of the semiconductor manufacturer's stock valued at $25,000 after purchasing an additional 66 shares in the last quarter. Networth Advisors LLC lifted its position in Broadcom by 546.2% during the first quarter. Networth Advisors LLC now owns 84 shares of the semiconductor manufacturer's stock valued at $26,000 after purchasing an additional 71 shares in the last quarter. SWAN Capital LLC lifted its position 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 purchasing an additional 55 shares in the last quarter. Miller Global Investments LLC purchased a new position in Broadcom during the fourth quarter valued at $31,000. Finally, Nvest Wealth Strategies Inc. purchased a new position in Broadcom during the fourth quarter valued at $33,000. 76.43% of the stock is currently owned by hedge funds and other institutional investors.
Broadcom Company Profile
(
Get Free Report)
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.
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