Avala Global LP Has $37.64 Million Stock Position in Broadcom Inc. $AVGO

Avala Global LP lowered its stake in Broadcom Inc. (NASDAQ:AVGO) by 49.1% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 108,760 shares of the semiconductor manufacturer’s stock after selling 105,040 shares during the period. Broadcom makes up 1.8% of Avala Global LP’s investment portfolio, making the stock its 18th biggest position. Avala Global LP’s holdings in Broadcom were worth $37,642,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in AVGO. Vanguard Group Inc. lifted its holdings 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 worth $167,064,997,000 after purchasing an additional 3,919,715 shares during the period. State Street Corp lifted its holdings 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 during the period. Geode Capital Management LLC lifted its holdings 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 worth $38,396,634,000 after purchasing an additional 1,548,699 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of Broadcom by 3.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 85,546,083 shares of the semiconductor manufacturer’s stock worth $29,607,500,000 after purchasing an additional 2,491,644 shares during the period. Finally, Norges Bank acquired a new position in shares of Broadcom during the fourth quarter worth $24,252,196,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Key Broadcom News

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: JPMorgan reiterated a bullish stance on Broadcom, saying the market may be underestimating its long-term AI opportunity and calling the shares attractive at current levels. Barrons article
• Positive Sentiment: Other coverage highlighted Broadcom’s “massive AI pipeline” and the company’s growing role in AI infrastructure, reinforcing expectations for multi-year revenue growth. Benzinga article
• Positive Sentiment: Broadcom announced pricing terms for cash tender offers to repurchase portions of its outstanding debt, a move that can support balance-sheet management and financial flexibility. PR Newswire article
• Neutral Sentiment: Commentary on Broadcom’s latest quarter noted strong AI-chip demand and revenue growth, but also pointed to gross margin pressure and cautious guidance, which may be keeping some investors from getting more aggressive. Zacks article
• Negative Sentiment: Some broader AI-stock commentary has compared today’s AI capex boom to the dot-com era, renewing valuation and cycle-risk concerns across the sector that could weigh on sentiment for AVGO. 247WallSt article

Insider Activity

In related news, Director Harry L. You acquired 1,000 shares of the company’s stock in a transaction dated Thursday, June 11th. The shares were purchased at an average price of $373.57 per share, for a total transaction of $373,570.00. Following the completion of the acquisition, the director owned 38,466 shares of the company’s stock, valued at approximately $14,369,743.62. This trade represents a 2.67% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Justine Page sold 2,018 shares of the company’s stock in a transaction dated Wednesday, April 8th. The shares were sold at an average price of $353.00, for a total transaction of $712,354.00. Following the transaction, the director owned 18,164 shares in the company, valued at $6,411,892. This represents a 10.00% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 51,233 shares of company stock valued at $18,125,134. Corporate insiders own 1.90% of the company’s stock.

Analyst Ratings Changes

AVGO has been the topic of a number of recent research reports. Evercore reiterated an “outperform” rating and set a $582.00 price target on shares of Broadcom in a report on Tuesday, May 19th. Wells Fargo & Company reiterated an “overweight” rating and set a $545.00 price target (up from $430.00) on shares of Broadcom in a report on Thursday, May 14th. Erste Group Bank upgraded shares of Broadcom from a “hold” rating to a “buy” rating in a report on Friday, June 5th. Royal Bank Of Canada lifted their price target on shares of Broadcom from $360.00 to $400.00 and gave the stock a “sector perform” rating in a report on Thursday, June 4th. Finally, DA Davidson lifted their price target on shares of Broadcom from $375.00 to $400.00 and gave the stock a “neutral” rating in a report on Thursday, June 4th. One 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. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $490.13.

Broadcom Price Performance

Shares of NASDAQ AVGO opened at $392.90 on Thursday. Broadcom Inc. has a twelve month low of $244.17 and a twelve month high of $495.00. The firm has a fifty day simple moving average of $408.66 and a 200 day simple moving average of $363.11. The company has a market capitalization of $1.87 trillion, a PE ratio of 65.48, a P/E/G ratio of 0.66 and a beta of 1.41. The company has a quick ratio of 2.01, a current ratio of 2.24 and a debt-to-equity ratio of 0.71.

Broadcom (NASDAQ:AVGO) last announced its earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share 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 the consensus estimate of $22.13 billion. During the same quarter last year, the firm earned $1.58 earnings per share. Broadcom’s quarterly revenue was up 47.9% on a year-over-year basis. On average, sell-side analysts forecast that Broadcom Inc. will post 10.24 EPS for the current year.

Broadcom Dividend Announcement

The business 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 is Monday, June 22nd. This represents a $2.60 annualized dividend and a dividend yield of 0.7%. Broadcom’s dividend payout ratio is currently 43.33%.

Broadcom Company 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.