Pittenger & Anderson Inc. Increases Stake in Broadcom Inc. $AVGO

Pittenger & Anderson Inc. grew its holdings in Broadcom Inc. (NASDAQ:AVGO) by 28.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 71,970 shares of the semiconductor manufacturer’s stock after acquiring an additional 16,078 shares during the period. Pittenger & Anderson Inc.’s holdings in Broadcom were worth $22,275,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Fullerton Advisors LLC raised its holdings in 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 during the period. NORTHSTAR ASSET MANAGEMENT Co grew its holdings in Broadcom by 0.5% during the first 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 during the period. RFG Holdings Inc. grew 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 valued at $2,631,000 after purchasing an additional 26 shares during the period. Yukon Wealth Management Inc. increased its position in Broadcom by 1.1% in the first quarter. Yukon Wealth Management Inc. now owns 2,501 shares of the semiconductor manufacturer’s stock worth $774,000 after buying an additional 26 shares in the last quarter. Finally, Capital Planning LLC increased its position in Broadcom by 0.7% in the first quarter. Capital Planning LLC now owns 4,044 shares of the semiconductor manufacturer’s stock worth $1,252,000 after buying an additional 28 shares in the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Jefferies Financial Group set a $550.00 price objective on Broadcom and gave the stock a “buy” rating in a research note on Thursday, June 4th. Cantor Fitzgerald reissued an “overweight” rating and issued a $525.00 target price on shares of Broadcom in a report on Thursday, June 4th. Wall Street Zen upgraded shares of Broadcom from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, July 1st. Royal Bank Of Canada lifted their price target on shares of Broadcom from $360.00 to $400.00 and gave the company a “sector perform” rating in a report on Thursday, June 4th. Finally, The Goldman Sachs Group reiterated a “buy” rating and issued a $525.00 price target on shares of Broadcom in a research report on Thursday, June 4th. One investment analyst has rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $493.24.

Broadcom News Summary

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom is being viewed as a major AI infrastructure winner, with recent coverage highlighting its accelerating AI revenue, record bookings, and strong customer partnerships. Snowflake vs. Broadcom: Which Enterprise AI Stock Is the Smarter Buy?
• Positive Sentiment: Wall Street commentary says Broadcom’s Apple agreement through 2031 is strategically positive and supports a durable revenue stream from custom chips and connectivity components. Why Broadcom (AVGO) Is Reinforcing Its Long-Term Growth With an Extended Apple Chip Partnership Through 2031
• Positive Sentiment: Analysts remain upbeat on Broadcom, with reports pointing to roughly 32.8% implied upside from the average price target and improving earnings estimate revisions. Wall Street Analysts See a 32.76% Upside in Broadcom Inc. (AVGO): Can the Stock Really Move This High?
• Positive Sentiment: Morgan Stanley called Broadcom a “core AI winner,” reinforcing the view that AVGO remains one of the main beneficiaries of AI spending. Broadcom is a ‘core AI winner,’ even as MediaTek encroaches, Morgan Stanley says
• Neutral Sentiment: Broadcom is also drawing heavy investor attention, which keeps the stock in focus but does not by itself change fundamentals. Broadcom Inc. (AVGO) Is a Trending Stock: Facts to Know Before Betting on It
• Negative Sentiment: Sentiment was tempered by reports that Broadcom executives sold shares, which can raise caution even though insider sales do not necessarily signal a business problem. Broadcom Executive Sells $10 Million in AVGO Stock. Is the Insider Sale a Warning Sign?
• Negative Sentiment: Reuters reported that five cloud business groups are urging EU regulators to suspend some Broadcom practices, adding a regulatory overhang to the name. Five cloud business groups urge EU interim measures against Broadcom

Broadcom Price Performance

Shares of Broadcom stock opened at $394.28 on Thursday. The company has a market capitalization of $1.88 trillion, a price-to-earnings ratio of 65.71, a PEG ratio of 0.68 and a beta of 1.45. The company has a quick ratio of 2.01, a current ratio of 2.24 and a debt-to-equity ratio of 0.71. The stock’s 50-day simple moving average is $403.23 and its 200-day simple moving average is $365.11. Broadcom Inc. has a 52 week low of $273.00 and a 52 week high of $495.00.

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

Broadcom Dividend Announcement

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

Insider Activity at Broadcom

In related news, Director Gayla J. Delly sold 1,890 shares of the company’s stock in a transaction on Wednesday, July 8th. The shares were sold at an average price of $385.38, for a total transaction of $728,368.20. Following the completion of the transaction, the director owned 31,326 shares in the company, valued at approximately $12,072,413.88. This represents a 5.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Harry L. You bought 1,000 shares of the business’s stock in a transaction that occurred on Thursday, June 11th. The shares were bought at an average cost of $373.57 per share, with a total value of $373,570.00. Following the completion of the purchase, the director directly owned 38,466 shares of the company’s stock, valued at $14,369,743.62. This represents a 2.67% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders have sold 61,644 shares of company stock worth $24,016,214. 1.90% of the stock is currently owned by corporate insiders.

About Broadcom

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.