Mcguire Capital Advisors Inc. Invests $548,000 in Broadcom Inc. $AVGO

Mcguire Capital Advisors Inc. bought a new position in Broadcom Inc. (NASDAQ:AVGO) during the 4th quarter, HoldingsChannel reports. The fund bought 1,584 shares of the semiconductor manufacturer’s stock, valued at approximately $548,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of Broadcom by 0.8% during 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 period. State Street Corp increased its holdings in Broadcom by 2.7% during the 4th quarter. State Street Corp now owns 190,084,351 shares of the semiconductor manufacturer’s stock valued at $65,788,194,000 after purchasing an additional 5,040,801 shares during the period. Geode Capital Management LLC raised its position in Broadcom by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 111,277,280 shares of the semiconductor manufacturer’s stock valued at $38,396,634,000 after purchasing an additional 1,548,699 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in Broadcom by 3.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 85,546,083 shares of the semiconductor manufacturer’s stock valued at $29,607,500,000 after purchasing an additional 2,491,644 shares during the last quarter. Finally, Norges Bank purchased a new stake in Broadcom in the 4th quarter worth approximately $24,252,196,000. 76.43% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Broadcom

In related news, insider Mark David Brazeal sold 4,825 shares of the company’s stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $394.91, for a total value of $1,905,440.75. Following the sale, the insider owned 269,989 shares in the company, valued at $106,621,355.99. This represents a 1.76% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider S. Ram Velaga sold 17,260 shares of the firm’s stock in a transaction that occurred on Thursday, April 9th. The shares were sold at an average price of $352.12, for a total value of $6,077,591.20. Following the transaction, the insider directly owned 65,932 shares of the company’s stock, valued at approximately $23,215,975.84. This trade represents a 20.75% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 59,385 shares of company stock valued at $21,301,057. 1.90% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

AVGO has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $515.00 price objective (up from $430.00) on shares of Broadcom in a research report on Thursday, June 4th. Seaport Research Partners reaffirmed a “neutral” rating on shares of Broadcom in a research note on Wednesday, April 8th. The Goldman Sachs Group reiterated a “buy” rating and issued a $525.00 price target on shares of Broadcom in a report on Thursday, June 4th. Erste Group Bank raised shares of Broadcom from a “hold” rating to a “buy” rating in a research report on Friday, June 5th. Finally, TD Cowen restated a “buy” rating and issued a $500.00 price objective on shares of Broadcom in a 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 given a Hold rating to the stock. According to data from MarketBeat.com, Broadcom presently has a consensus rating of “Moderate Buy” and an average price target of $490.13.

Key Headlines Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom expanded its cash tender offers for outstanding debt to $3 billion from $2.5 billion after strong investor demand, which can be viewed as a sign of balance-sheet management and helped lift sentiment toward the stock. Broadcom Inc. Announces Results and Upsize of Offers to Purchase for Cash Certain of its Outstanding Debt Securities
• Positive Sentiment: JPMorgan reiterated a bullish view, saying investors should be “aggressive buyers” and arguing the market is underestimating Broadcom’s long-term AI opportunity, reinforcing the rally in AVGO. AVGO stock jumps — JPMorgan says investors should be ‘aggressive buyers’ of Broadcom at current levels
• Positive Sentiment: Citi also highlighted Broadcom as a top chip stock on soaring data-center demand, adding to optimism around AI-driven revenue growth. Citi Touts Broadcom Inc. (AVGO) as a Top Chip Stock on Soaring Data Center Demand
• Neutral Sentiment: Insider Mark David Brazeal sold shares in two June transactions totaling more than 8,100 shares. The sales are notable, but they represent relatively small reductions in a large personal holding and do not necessarily signal a change in the company’s outlook. Mark David Brazeal insider trading page

Broadcom Stock Performance

Shares of AVGO stock opened at $411.35 on Friday. The company’s fifty day moving average price is $410.21 and its 200-day moving average price is $363.17. The stock has a market cap of $1.96 trillion, a PE ratio of 68.56, a price-to-earnings-growth ratio of 0.69 and a beta of 1.41. 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 Inc. has a 12 month low of $244.17 and a 12 month high of $495.00.

Broadcom (NASDAQ:AVGO) last issued its quarterly 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. Broadcom had a net margin of 38.85% and a return on equity of 41.61%. The company had revenue of $22.19 billion during the quarter, compared to analyst estimates of $22.13 billion. During the same period last year, the business earned $1.58 EPS. Broadcom’s quarterly revenue was up 47.9% compared to the same quarter last year. On average, equities analysts expect that Broadcom Inc. will post 10.24 EPS for the current fiscal year.

Broadcom Announces Dividend

The firm also recently disclosed 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. This represents a $2.60 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date is Monday, June 22nd. Broadcom’s dividend payout ratio is 43.33%.

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.