Broadcom Inc. $AVGO Shares Acquired by Montrusco Bolton Investments Inc.

Montrusco Bolton Investments Inc. increased its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 119.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 625,635 shares of the semiconductor manufacturer’s stock after buying an additional 339,895 shares during the quarter. Broadcom comprises approximately 2.8% of Montrusco Bolton Investments Inc.’s investment portfolio, making the stock its 13th biggest holding. Montrusco Bolton Investments Inc.’s holdings in Broadcom were worth $187,877,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Broadcom by 0.8% in 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 last quarter. State Street Corp boosted its position in Broadcom by 2.7% in 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 last quarter. Geode Capital Management LLC boosted its position in Broadcom by 1.4% in 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 last quarter. Price T Rowe Associates Inc. MD increased its holdings in Broadcom by 3.0% in the 4th 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 buying an additional 2,491,644 shares during the period. Finally, Norges Bank purchased a new position in Broadcom during the 4th quarter worth approximately $24,252,196,000. 76.43% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Broadcom

In other news, insider S. Ram Velaga sold 8,000 shares of the company’s stock in a transaction on Friday, April 10th. The shares were sold at an average price of $370.52, for a total transaction of $2,964,160.00. Following the completion of the sale, the insider owned 57,932 shares of the company’s stock, valued at $21,464,964.64. This represents a 12.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Justine Page sold 1,602 shares of the firm’s stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $373.86, for a total transaction of $598,923.72. Following the completion of the transaction, the director directly owned 17,426 shares in the company, valued at approximately $6,514,884.36. This represents a 8.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 17,754 shares of company stock worth $6,739,006 over the last three months. 1.90% of the stock is owned by corporate insiders.

Broadcom Price Performance

NASDAQ:AVGO opened at $388.69 on Thursday. The stock has a 50 day moving average of $405.37 and a two-hundred day moving average of $363.44. Broadcom Inc. has a 12 month low of $269.58 and a 12 month high of $495.00. The firm has a market cap of $1.85 trillion, a P/E ratio of 64.78, a price-to-earnings-growth ratio of 0.65 and a beta of 1.45. The company has a current ratio of 2.24, a quick ratio of 2.01 and a debt-to-equity ratio of 0.71.

Broadcom (NASDAQ:AVGO) last released its earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share for the quarter, beating the consensus estimate of $2.40 by $0.04. The business had revenue of $22.19 billion for the quarter, compared to the consensus estimate of $22.13 billion. Broadcom had a return on equity of 41.61% and a net margin of 38.85%.The business’s quarterly revenue was up 47.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.58 earnings per share. On average, analysts expect that Broadcom Inc. will post 10.24 earnings per share for the current fiscal year.

Broadcom Announces Dividend

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

Analyst Ratings Changes

Several analysts have commented on AVGO shares. UBS Group set a $485.00 price objective on shares of Broadcom and gave the company a “buy” rating in a research note on Thursday, June 4th. Weiss Ratings cut shares of Broadcom from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday, June 26th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $515.00 target price (up from $430.00) on shares of Broadcom in a research report on Thursday, June 4th. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $545.00 price target (up from $430.00) on shares of Broadcom in a report on Thursday, May 14th. Finally, DA Davidson increased their price target on Broadcom from $375.00 to $400.00 and gave the stock a “neutral” rating in a research report on Thursday, June 4th. One research analyst has rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $493.24.

Broadcom News Summary

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Apple expanded its Broadcom relationship with a $30 billion-plus chipmaking commitment, which should provide Broadcom with long-term revenue visibility and support for its AI/custom silicon growth story. Reuters: Apple to spend $30 billion in Broadcom chips deal that will see Colorado factory expand
• Positive Sentiment: Apple’s deal is being framed as a major U.S. manufacturing win and one of Broadcom’s biggest customer commitments, which could lift sentiment around AVGO’s AI infrastructure opportunity. TechCrunch: Apple to produce Made in America wireless chips with Broadcom
• Positive Sentiment: Investor attention is also being fueled by bullish coverage highlighting Broadcom as a top stock pick and an increasingly attractive AI semiconductor name after recent pullbacks. Insider Monkey: Top 5 Stocks to Buy According to Whale Rock Capital Management
• Neutral Sentiment: Some commentary says Broadcom had already pulled back from recent highs, with UBS arguing semiconductor valuations may now offer a more attractive entry point, but this is more valuation commentary than a fresh catalyst. Benzinga: Micron, Broadcom Just Got 25% Cheaper
• Negative Sentiment: One analyst reportedly downgraded Broadcom, suggesting not all views are uniformly bullish despite the Apple deal. Yahoo Finance: This Analyst Just Downgraded Broadcom Stock

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.