Vaughan David Investments LLC IL Has $144.35 Million Stock Holdings in Broadcom Inc. $AVGO

Vaughan David Investments LLC IL cut its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 8.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 417,061 shares of the semiconductor manufacturer’s stock after selling 36,963 shares during the period. Broadcom makes up about 3.1% of Vaughan David Investments LLC IL’s portfolio, making the stock its biggest holding. Vaughan David Investments LLC IL’s holdings in Broadcom were worth $144,345,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AVGO. Norges Bank bought a new position in Broadcom during the fourth quarter valued at approximately $24,252,196,000. Arrowstreet Capital Limited Partnership boosted its stake in Broadcom by 499.4% during the third quarter. Arrowstreet Capital Limited Partnership now owns 5,634,232 shares of the semiconductor manufacturer’s stock valued at $1,858,789,000 after buying an additional 4,694,313 shares during the last quarter. Vanguard Group Inc. boosted its stake in Broadcom by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 482,707,302 shares of the semiconductor manufacturer’s stock valued at $167,064,997,000 after buying an additional 3,919,715 shares during the last quarter. Nordea Investment Management AB boosted its stake in Broadcom by 47.5% during the fourth quarter. Nordea Investment Management AB now owns 9,814,757 shares of the semiconductor manufacturer’s stock valued at $3,406,211,000 after buying an additional 3,160,586 shares during the last quarter. Finally, Danske Bank A S bought a new position in Broadcom during the third quarter valued at approximately $987,488,000. 76.43% of the stock is owned by institutional investors.

Broadcom Trading Up 3.6%

Shares of AVGO stock opened at $385.57 on Friday. Broadcom Inc. has a 1 year low of $244.17 and a 1 year high of $495.00. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.24 and a quick ratio of 2.01. The stock’s 50 day simple moving average is $402.89 and its two-hundred day simple moving average is $363.19. The company has a market cap of $1.83 trillion, a PE ratio of 64.26, a price-to-earnings-growth ratio of 0.65 and a beta of 1.41.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.40 by $0.04. Broadcom had a return on equity of 41.61% and a net margin of 38.85%.The business had revenue of $22.19 billion for the quarter, compared to the consensus estimate of $22.13 billion. During the same period in the prior year, the business posted $1.58 earnings per share. The company’s quarterly revenue was up 47.9% compared to the same quarter last year. Research analysts predict that Broadcom Inc. will post 10.24 earnings per share for the current 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. This represents a $2.60 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Monday, June 22nd. Broadcom’s dividend payout ratio is presently 43.33%.

Analysts Set New Price Targets

A number of brokerages recently commented on AVGO. UBS Group set a $485.00 price target on Broadcom and gave the company a “buy” rating in a research note on Thursday, June 4th. Rosenblatt Securities restated a “buy” rating and set a $500.00 price objective on shares of Broadcom in a research report on Thursday, June 4th. Cantor Fitzgerald restated an “overweight” rating and set a $525.00 price objective on shares of Broadcom in a research report on Thursday, June 4th. JPMorgan Chase & Co. upped their price objective on Broadcom from $500.00 to $580.00 and gave the company an “overweight” rating in a research report on Thursday, June 4th. Finally, Citigroup restated a “buy” rating 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-nine have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $490.13.

Key Broadcom News

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Wall Street analysts remain bullish, with some raising Broadcom’s earnings estimates and lifting price targets even after the post-earnings selloff. As Shares Fall, Analyst Are Boosting their Broadcom Price Targets
• Positive Sentiment: Broadcom’s AI business remains a major strength, with reports highlighting record revenue growth, strong AI semiconductor demand, and a very large backlog of AI bookings. 3 Beaten-Down AI Chip Stocks Worth a Closer Look After the Sell-Off
• Neutral Sentiment: Broadcom announced cash tender offers to buy back certain outstanding debt securities, a move that may help optimize its balance sheet but is not likely to be a major near-term stock catalyst. Broadcom Inc. Commences Offers to Purchase for Cash Certain of its Outstanding Debt Securities
• Neutral Sentiment: Some commentary says Broadcom is still attractive on valuation after the selloff, while other analysis warns the stock may be entering a tougher phase where pricing power and margins matter more. Broadcom’s Real Test Begins When Pricing Power Meets Reality
• Negative Sentiment: Investors are worried Broadcom warned that gross profit margins may keep falling, reinforcing concerns that strong AI growth is coming with less operating leverage than hoped. Huge News for Broadcom Stock Investors

Insider Transactions at Broadcom

In other news, Director Gayla J. Delly sold 1,000 shares of the stock in a transaction that occurred on Thursday, April 9th. The stock was sold at an average price of $358.31, for a total value of $358,310.00. Following the sale, the director directly owned 32,352 shares in the company, valued at approximately $11,592,045.12. This represents a 3.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Charlie B. Kawwas sold 10,000 shares of the firm’s stock in a transaction on Wednesday, April 8th. The stock was sold at an average price of $345.23, for a total value of $3,452,300.00. Following the transaction, the insider owned 787,184 shares in the company, valued at $271,759,532.32. The trade was a 1.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 324,282 shares of company stock valued at $106,425,249. Company insiders own 1.90% of the company’s stock.

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.