Artemis Wealth Advisors LLC Cuts Stock Position in Broadcom Inc. $AVGO

Artemis Wealth Advisors LLC lessened its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 35.3% in the 4th quarter, Holdings Channel.com reports. The firm owned 16,500 shares of the semiconductor manufacturer’s stock after selling 9,000 shares during the quarter. Broadcom comprises about 0.8% of Artemis Wealth Advisors LLC’s portfolio, making the stock its 11th largest holding. Artemis Wealth Advisors LLC’s holdings in Broadcom were worth $5,711,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Baring Financial LLC raised its stake in shares of 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 purchasing an additional 29 shares during the last quarter. Five Oceans Advisors grew its holdings in Broadcom by 0.4% during the fourth quarter. Five Oceans Advisors now owns 8,191 shares of the semiconductor manufacturer’s stock worth $2,835,000 after acquiring an additional 29 shares during the period. Planning Alternatives Ltd. ADV grew its holdings in Broadcom by 1.4% during the third quarter. Planning Alternatives Ltd. ADV now owns 2,168 shares of the semiconductor manufacturer’s stock worth $715,000 after acquiring an additional 30 shares during the period. Bell Investment Advisors Inc grew its holdings in Broadcom by 1.9% during the third quarter. Bell Investment Advisors Inc now owns 1,638 shares of the semiconductor manufacturer’s stock worth $540,000 after acquiring an additional 30 shares during the period. Finally, Bare Financial Services Inc grew its holdings in Broadcom by 11.6% during the third quarter. Bare Financial Services Inc now owns 299 shares of the semiconductor manufacturer’s stock worth $99,000 after acquiring an additional 31 shares during the period. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Broadcom Stock Down 0.9%

Broadcom stock opened at $382.07 on Friday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.01 and a current ratio of 2.24. The firm has a market capitalization of $1.82 trillion, a price-to-earnings ratio of 63.68, a price-to-earnings-growth ratio of 0.67 and a beta of 1.41. Broadcom Inc. has a fifty-two week low of $244.17 and a fifty-two week high of $495.00. The stock’s fifty day moving average is $404.26 and its two-hundred day moving average is $363.33.

Broadcom (NASDAQ:AVGO) last posted 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 company had revenue of $22.19 billion for the quarter, compared to analyst estimates of $22.13 billion. Broadcom had a return on equity of 41.61% and a net margin of 38.85%.Broadcom’s revenue was up 47.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.58 earnings per share. Analysts predict that Broadcom Inc. will post 10.24 EPS for the current fiscal year.

Broadcom Dividend Announcement

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

Insider Buying and Selling

In other Broadcom news, Director Gayla J. Delly sold 1,000 shares of the company’s stock in a transaction 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 owned 32,352 shares of the company’s stock, valued at approximately $11,592,045.12. This represents a 3.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 value of $2,964,160.00. Following the completion of the sale, the insider directly owned 57,932 shares in the company, valued at $21,464,964.64. This trade represents a 12.13% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 324,282 shares of company stock valued at $106,425,249 in the last three months. 1.90% of the stock is owned by insiders.

Key Headlines Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom’s quarterly results were very strong, with revenue up 48% to a record $22.2 billion, semiconductor revenue up 79%, AI semiconductor revenue up 143% to $10.8 billion, and more than $30 billion in AI bookings, suggesting demand remains robust. Article Title
• Positive Sentiment: Several analysts and commentators argue the recent drop could be a buying opportunity, saying Broadcom remains a core infrastructure winner in AI and that Wall Street’s long-term outlook is still constructive. Article Title
• Positive Sentiment: Fresh coverage highlighted Broadcom as one of the stocks with catalysts heading into the second half of the year, and some analysts have raised earnings forecasts and price targets despite the selloff. Article Title
• Neutral Sentiment: Jim Cramer said Broadcom’s earnings were “not good” and suggested tech stocks are harder to trust as leadership names, reflecting a more cautious market mood around the stock. Article Title
• Neutral Sentiment: Broadcom also announced cash tender offers for certain outstanding debt securities, a routine balance-sheet move that is unlikely to move the stock by itself. Article Title
• Negative Sentiment: Market commentary says the stock is being punished because investors are nitpicking Broadcom’s AI outlook and pricing the shares as if growth must keep accelerating without any hiccups. Article Title
• Negative Sentiment: One note warned that Broadcom told investors to expect gross profit margins to continue falling, reinforcing concerns that profitability may soften even as revenue grows. Article Title

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. KeyCorp reaffirmed an “overweight” rating and set a $575.00 price objective (up from $500.00) on shares of Broadcom in a report on Thursday, June 4th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $515.00 price objective (up from $430.00) on shares of Broadcom in a report on Thursday, June 4th. DA Davidson upped their price objective on Broadcom from $375.00 to $400.00 and gave the stock a “neutral” rating in a report on Thursday, June 4th. Benchmark upped their price objective on Broadcom from $485.00 to $545.00 and gave the stock a “buy” rating in a report on Thursday, June 4th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $525.00 price objective on shares of Broadcom in a report on Thursday, June 4th. One analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $490.13.

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.