Broadcom Inc. $AVGO is Fortitude Advisory Group L.L.C.’s 8th Largest Position

Fortitude Advisory Group L.L.C. lifted its position in Broadcom Inc. (NASDAQ:AVGO) by 11.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,940 shares of the semiconductor manufacturer’s stock after purchasing an additional 1,591 shares during the period. Broadcom comprises 2.3% of Fortitude Advisory Group L.L.C.’s portfolio, making the stock its 8th largest holding. Fortitude Advisory Group L.L.C.’s holdings in Broadcom were worth $5,517,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. ROSS JOHNSON & Associates LLC increased its stake in shares of Broadcom by 1,320.0% in the fourth quarter. ROSS JOHNSON & Associates LLC now owns 71 shares of the semiconductor manufacturer’s stock worth $25,000 after purchasing an additional 66 shares in the last quarter. SWAN Capital LLC increased its stake 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 purchasing an additional 55 shares in the last quarter. Miller Global Investments LLC purchased a new stake in shares of Broadcom in the fourth quarter worth $31,000. Nvest Wealth Strategies Inc. purchased a new stake in shares of Broadcom in the fourth quarter worth $33,000. Finally, Family CFO Inc purchased a new stake in shares of Broadcom in the fourth quarter worth $35,000. 76.43% of the stock is owned by hedge funds and other institutional investors.

Key Headlines Impacting Broadcom

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

Insiders Place Their Bets

In other Broadcom news, Director Justine Page sold 2,018 shares of Broadcom stock in a transaction 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 completion of the transaction, the director directly owned 18,164 shares of the company’s stock, valued at $6,411,892. This trade represents a 10.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Mark David Brazeal sold 50,488 shares of Broadcom stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $321.60, for a total transaction of $16,236,940.80. Following the completion of the transaction, the insider directly owned 278,141 shares of the company’s stock, valued at $89,450,145.60. The trade was a 15.36% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 215,970 shares of company stock worth $71,104,945. Insiders own 1.90% of the company’s stock.

Wall Street Analyst Weigh In

AVGO has been the subject of several research analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $525.00 target price on shares of Broadcom in a research note on Thursday, June 4th. Evercore reaffirmed an “outperform” rating and set a $582.00 target price on shares of Broadcom in a research note on Tuesday, May 19th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $525.00 target price on shares of Broadcom in a research note on Thursday, June 4th. Benchmark raised their target price on shares of Broadcom from $485.00 to $545.00 and gave the company a “buy” rating in a research note on Thursday, June 4th. Finally, JPMorgan Chase & Co. raised their target price on shares of Broadcom from $500.00 to $580.00 and gave the company an “overweight” rating in a research note on Thursday, June 4th. One research analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $490.13.

Broadcom Stock Performance

AVGO opened at $382.07 on Monday. Broadcom Inc. has a fifty-two week low of $244.17 and a fifty-two week high of $495.00. The stock has a market capitalization of $1.82 trillion, a price-to-earnings ratio of 63.68, a PEG ratio of 0.67 and a beta of 1.41. The company has a fifty day moving average of $404.26 and a 200 day moving average of $363.22. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.01 and a current ratio of 2.24.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 EPS for the quarter, topping analysts’ consensus estimates of $2.40 by $0.04. Broadcom had a net margin of 38.85% and a return on equity of 41.61%. The business had revenue of $22.19 billion during the quarter, compared to analysts’ expectations of $22.13 billion. During the same period last year, the company posted $1.58 EPS. The business’s revenue was up 47.9% on a year-over-year basis. As a group, sell-side analysts forecast that Broadcom Inc. will post 10.24 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 22nd will be paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Monday, June 22nd. Broadcom’s dividend payout ratio (DPR) is presently 43.33%.

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.