Resources Management Corp CT ADV Raises Stake in Broadcom Inc. $AVGO

Resources Management Corp CT ADV raised its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 402.1% during the 4th quarter, Holdings Channel.com reports. The fund owned 61,608 shares of the semiconductor manufacturer’s stock after acquiring an additional 49,337 shares during the period. Broadcom accounts for about 2.8% of Resources Management Corp CT ADV’s portfolio, making the stock its 6th biggest position. Resources Management Corp CT ADV’s holdings in Broadcom were worth $21,322,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Broadcom by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 482,707,302 shares of the semiconductor manufacturer’s stock valued at $167,064,997,000 after buying an additional 3,919,715 shares during the period. 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 valued at $65,788,194,000 after buying an additional 5,040,801 shares during the period. Geode Capital Management LLC increased its position in shares of Broadcom by 1.4% during the fourth quarter. Geode Capital Management LLC now owns 111,277,280 shares of the semiconductor manufacturer’s stock valued at $38,396,634,000 after buying an additional 1,548,699 shares during the period. Norges Bank bought a new stake in shares of Broadcom during the fourth quarter valued at about $24,252,196,000. Finally, Invesco Ltd. increased its position in shares of Broadcom by 1.8% during the third quarter. Invesco Ltd. now owns 39,149,651 shares of the semiconductor manufacturer’s stock valued at $12,915,861,000 after buying an additional 700,021 shares during the period. 76.43% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on AVGO shares. Cantor Fitzgerald reiterated an “overweight” rating and set a $525.00 price target on shares of Broadcom in a research report on Thursday, June 4th. Truist Financial upped their price target on Broadcom from $545.00 to $550.00 and gave the company a “buy” rating in a research report on Thursday, June 4th. DA Davidson upped their price target on Broadcom from $375.00 to $400.00 and gave the company a “neutral” rating in a research report on Thursday, June 4th. Weiss Ratings upgraded Broadcom from a “buy (b-)” rating to a “buy (b)” rating in a research report on Tuesday, June 9th. Finally, Erste Group Bank upgraded Broadcom from a “hold” rating to a “buy” rating in a research report on Friday, June 5th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $490.13.

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

Broadcom Stock Up 3.1%

Shares of NASDAQ AVGO opened at $393.94 on Tuesday. Broadcom Inc. has a 12 month low of $244.17 and a 12 month high of $495.00. 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 capitalization of $1.87 trillion, a price-to-earnings ratio of 65.66, a PEG 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) last issued its quarterly earnings data on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 EPS for the quarter, topping the consensus estimate 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 in the previous year, the firm earned $1.58 earnings per share. Broadcom’s revenue was up 47.9% on a year-over-year basis. Sell-side analysts expect 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. Stockholders of record on Monday, June 22nd will be issued a dividend of $0.65 per share. The ex-dividend date of this dividend is Monday, June 22nd. This represents a $2.60 annualized dividend and a dividend yield of 0.7%. Broadcom’s payout ratio is presently 43.33%.

Insider Activity at Broadcom

In other Broadcom news, insider S. Ram Velaga sold 17,260 shares of the company’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 value of $6,077,591.20. Following the completion of the sale, the insider owned 65,932 shares of the company’s stock, valued at $23,215,975.84. This represents a 20.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gayla J. Delly sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, April 9th. The stock was sold at an average price of $358.31, for a total value of $358,310.00. Following the completion of the sale, the director directly owned 32,352 shares of the company’s stock, valued at approximately $11,592,045.12. This represents a 3.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 51,233 shares of company stock valued at $18,125,134 in the last ninety days. Insiders own 1.90% of the company’s stock.

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.