Walser Wealth Management Company A Ltd Liability Co Purchases New Position in Broadcom Inc. $AVGO

Walser Wealth Management Company A Ltd Liability Co purchased a new position in Broadcom Inc. (NASDAQ:AVGO) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 1,974 shares of the semiconductor manufacturer’s stock, valued at approximately $683,000.

Several other large investors also recently added to or reduced their stakes in the stock. Brown Brothers Harriman & Co. grew its position in Broadcom by 10.7% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 77,411 shares of the semiconductor manufacturer’s stock valued at $25,539,000 after acquiring an additional 7,499 shares during the last quarter. Dana Investment Advisors Inc. lifted its position in shares of Broadcom by 2.6% during the third quarter. Dana Investment Advisors Inc. now owns 173,759 shares of the semiconductor manufacturer’s stock worth $57,325,000 after purchasing an additional 4,442 shares during the last quarter. Sovran Advisors LLC boosted its stake in shares of Broadcom by 121.3% during the fourth quarter. Sovran Advisors LLC now owns 30,631 shares of the semiconductor manufacturer’s stock valued at $10,507,000 after purchasing an additional 16,789 shares during the period. Thurston Springer Miller Herd & Titak Inc. boosted its stake in shares of Broadcom by 406.1% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 11,994 shares of the semiconductor manufacturer’s stock valued at $4,151,000 after purchasing an additional 9,624 shares during the period. Finally, Siligmueller & Norvid Wealth Advisors LLC bought a new position in shares of Broadcom in the third quarter worth about $762,000. 76.43% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently commented on AVGO shares. Jefferies Financial Group set a $550.00 price target on shares of Broadcom and gave the stock a “buy” rating in a research note on Thursday, June 4th. Truist Financial boosted 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. Wells Fargo & Company restated an “overweight” rating and issued a $545.00 target price (up from $430.00) on shares of Broadcom in a research note on Thursday, May 14th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $525.00 target price on shares of Broadcom in a research report on Thursday, June 4th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $525.00 price target on shares of Broadcom in a research note on Thursday, June 4th. One equities 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 stock. According to MarketBeat.com, Broadcom has a consensus rating of “Moderate Buy” and a consensus price target of $490.13.

Broadcom Stock Performance

Shares of Broadcom stock opened at $411.35 on Friday. 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 stock’s fifty day moving average price is $411.42 and its 200-day moving average price is $363.50. The firm has a market cap of $1.96 trillion, a P/E ratio of 68.56, a P/E/G ratio of 0.72 and a beta of 1.41. Broadcom Inc. has a 12 month low of $244.17 and a 12 month high of $495.00.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data 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 company had revenue of $22.19 billion during the quarter, compared to analyst estimates of $22.13 billion. During the same period in the prior year, the firm earned $1.58 earnings per share. The firm’s revenue for the quarter was up 47.9% compared to the same quarter last year. On average, equities research analysts expect that Broadcom Inc. will post 10.24 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 22nd will be issued a $0.65 dividend. The ex-dividend date is Monday, June 22nd. This represents a $2.60 annualized dividend and a dividend yield of 0.6%. Broadcom’s payout ratio is currently 43.33%.

Insider Transactions at Broadcom

In related news, insider Charlie B. Kawwas sold 10,000 shares of Broadcom stock in a transaction that occurred on Wednesday, April 8th. The shares were sold at an average price of $345.23, for a total transaction of $3,452,300.00. Following the transaction, the insider directly owned 787,184 shares of the company’s stock, valued at $271,759,532.32. This trade represents a 1.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider S. Ram Velaga sold 8,000 shares of the business’s stock in a transaction that occurred on Friday, April 10th. The stock was sold at an average price of $370.52, for a total transaction of $2,964,160.00. Following the completion of the transaction, the insider directly owned 57,932 shares of the company’s stock, valued at $21,464,964.64. This trade represents a 12.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 59,385 shares of company stock worth $21,301,057. Insiders own 1.90% of the company’s stock.

More Broadcom News

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom’s debt tender offer was upsized to $3 billion after strong investor demand, signaling active balance-sheet management and reinforcing investor confidence. Broadcom Inc. Announces Results and Upsize of Offers to Purchase for Cash Certain of its Outstanding Debt Securities
• Positive Sentiment: JPMorgan remained bullish on Broadcom, saying investors should be “aggressive buyers,” which supports the view that the market may still be underestimating AVGO’s AI growth. AVGO stock jumps — JPMorgan says investors should be ‘aggressive buyers’ of Broadcom at current levels
• Positive Sentiment: Citi also called Broadcom a top chip stock on strong data-center demand, adding another bullish Wall Street view tied to AI infrastructure spending. Citi Touts Broadcom Inc. (AVGO) as a Top Chip Stock on Soaring Data Center Demand
• Positive Sentiment: One report said VMware, Broadcom’s second-largest business, may be set to accelerate, which could broaden growth beyond the company’s AI chip exposure. VMware: Broadcom’s Second Biggest Business Set to Accelerate
• Neutral Sentiment: Insider Mark David Brazeal sold shares in two June transactions, but the sales were relatively small versus his remaining stake and do not necessarily change the broader investment thesis. Mark David Brazeal insider trading page
• Negative Sentiment: One analyst warned that chip valuations are getting stretched and suggested investors could consider alternatives, including Broadcom, which may temper enthusiasm if valuation concerns intensify. Analyst Warns Intel Valuation ‘Doesn’t Make Sense.’ Suggests NVIDIA, AMD, Micron, and Broadcom as Alternatives.

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.