New York State Teachers Retirement System Purchases 12,514 Shares of Broadcom Inc. $AVGO

New York State Teachers Retirement System raised its position in Broadcom Inc. (NASDAQ:AVGO) by 0.3% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 3,827,111 shares of the semiconductor manufacturer’s stock after acquiring an additional 12,514 shares during the period. Broadcom makes up about 2.4% of New York State Teachers Retirement System’s holdings, making the stock its 6th largest position. New York State Teachers Retirement System’s holdings in Broadcom were worth $1,184,529,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in AVGO. Fullerton Advisors LLC lifted its holdings in shares of Broadcom by 1.3% in the 1st quarter. Fullerton Advisors LLC now owns 1,989 shares of the semiconductor manufacturer’s stock worth $616,000 after purchasing an additional 25 shares in the last quarter. NORTHSTAR ASSET MANAGEMENT Co increased its stake in Broadcom by 0.5% during the 1st quarter. NORTHSTAR ASSET MANAGEMENT Co now owns 5,350 shares of the semiconductor manufacturer’s stock valued at $1,656,000 after purchasing an additional 25 shares in the last quarter. RFG Holdings Inc. raised its holdings in Broadcom by 0.3% during the first quarter. RFG Holdings Inc. now owns 8,499 shares of the semiconductor manufacturer’s stock worth $2,631,000 after buying an additional 26 shares during the last quarter. Baring Financial LLC raised its holdings in Broadcom by 2.2% during the fourth quarter. Baring Financial LLC now owns 1,359 shares of the semiconductor manufacturer’s stock worth $470,000 after buying an additional 29 shares during the last quarter. Finally, Five Oceans Advisors lifted its stake in shares of Broadcom by 0.4% in the fourth quarter. Five Oceans Advisors now owns 8,191 shares of the semiconductor manufacturer’s stock valued at $2,835,000 after buying an additional 29 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom News Roundup

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom’s expanded partnership with Apple through 2031 should support long-term chip demand and strengthen confidence in its custom silicon growth story. Reuters: Broadcom, Apple extend chip partnership through 2031
• Positive Sentiment: Broadcom is being highlighted as a key AI infrastructure and edge-AI player, which supports the stock’s premium valuation. Seeking Alpha: Broadcom’s AI Infrastructure Model Justifies Its Premium Valuation
• Positive Sentiment: Analyst and investor commentary continues to point to Broadcom’s custom AI silicon growth as a reason estimates may keep moving higher. Yahoo Finance: Why Broadcom Inc.’s Custom AI Silicon Growth Still Supports Its Estimate Story
• Neutral Sentiment: Broader semiconductor momentum has helped AVGO alongside other chip names, adding a sector tailwind to the stock. Yahoo Finance: Allegro MicroSystems and Penguin Solutions Shares Skyrocket
• Negative Sentiment: Some recent coverage warns that Broadcom’s largest AI customer may be shifting business to MediaTek, which could raise questions about customer concentration in its AI chip franchise. MSN: Broadcom’s largest AI customer is fleeing to MediaTek
• Negative Sentiment: One analyst note also said AVGO had been under pressure recently after a weaker near-term outlook and limited improvement to the longer-term AI revenue picture. Zacks: Broadcom Drops 9% in a Month

Broadcom Stock Down 2.3%

Shares of AVGO stock traded down $8.55 on Tuesday, hitting $365.35. The stock had a trading volume of 4,370,772 shares, compared to its average volume of 26,293,332. The business has a 50 day moving average of $407.92 and a 200 day moving average of $362.49. The stock has a market cap of $1.74 trillion, a price-to-earnings ratio of 60.79, a price-to-earnings-growth ratio of 0.63 and a beta of 1.45. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.24 and a quick ratio of 2.01. Broadcom Inc. has a 12-month low of $269.58 and a 12-month high of $495.00.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings results 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 net margin of 38.85% and a return on equity of 41.61%. The company had revenue of $22.19 billion for the quarter, compared to analyst estimates of $22.13 billion. During the same period last year, the firm earned $1.58 earnings per share. The firm’s revenue was up 47.9% on a year-over-year basis. As a group, analysts expect that Broadcom Inc. will post 10.24 EPS for the current year.

Broadcom Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 22nd were given a dividend of $0.65 per share. The ex-dividend date of this dividend was Monday, June 22nd. This represents a $2.60 annualized dividend and a dividend yield of 0.7%. Broadcom’s dividend payout ratio (DPR) is currently 43.33%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on AVGO shares. Bank of America lifted their price objective on shares of Broadcom from $450.00 to $530.00 and gave the company a “buy” rating in a report on Thursday, June 4th. Mizuho raised their price target on shares of Broadcom from $480.00 to $530.00 and gave the company an “outperform” rating in a research report on Thursday, June 4th. Seaport Research Partners reiterated a “neutral” rating on shares of Broadcom in a research note on Wednesday, April 8th. Royal Bank Of Canada boosted their price objective on Broadcom from $360.00 to $400.00 and gave the stock a “sector perform” rating in a report on Thursday, June 4th. Finally, Wells Fargo & Company reissued an “overweight” rating and issued a $545.00 price objective (up from $430.00) on shares of Broadcom in a research note on Thursday, May 14th. One analyst has rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $493.24.

Insider Transactions at Broadcom

In related news, insider Mark David Brazeal sold 4,825 shares of the stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $394.91, for a total transaction of $1,905,440.75. Following the completion of the sale, the insider directly owned 269,989 shares of the company’s stock, valued at approximately $106,621,355.99. This trade represents a 1.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider S. Ram Velaga sold 17,260 shares of Broadcom stock in a transaction 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 sale, the insider owned 65,932 shares in the company, valued at $23,215,975.84. This trade represents a 20.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 60,987 shares of company stock worth $21,899,980. 1.90% of the stock is owned by insiders.

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.