17,939 Shares in Broadcom Inc. $AVGO Bought by TMB Capital Partners LLC

TMB Capital Partners LLC purchased a new position in Broadcom Inc. (NASDAQ:AVGO) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 17,939 shares of the semiconductor manufacturer’s stock, valued at approximately $6,209,000. Broadcom accounts for approximately 2.1% of TMB Capital Partners LLC’s investment portfolio, making the stock its 11th biggest position.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. ATX Financial Planning LLC acquired a new position in shares of Broadcom during the fourth quarter valued at about $1,061,000. Michels Family Financial LLC grew its stake in shares of Broadcom by 17.7% in the 4th quarter. Michels Family Financial LLC now owns 745 shares of the semiconductor manufacturer’s stock valued at $258,000 after buying an additional 112 shares during the period. Evansbrook LLC bought a new stake in Broadcom in the 4th quarter valued at about $351,000. Rare Wolf Capital LLC bought a new stake in Broadcom in the 4th quarter valued at about $526,000. Finally, Harbour Wealth Management Group Inc. acquired a new position in Broadcom during the 4th quarter worth approximately $2,156,000. 76.43% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have issued reports on AVGO shares. JPMorgan Chase & Co. increased their price target on Broadcom from $500.00 to $580.00 and gave the stock an “overweight” rating in a report on Thursday, June 4th. Erste Group Bank raised Broadcom from a “hold” rating to a “buy” rating in a research report on Friday, June 5th. Wall Street Zen upgraded Broadcom from a “buy” rating to a “strong-buy” rating in a report on Monday. Wells Fargo & Company reissued an “overweight” rating and issued a $545.00 price target (up from $430.00) on shares of Broadcom in a research report on Thursday, May 14th. Finally, Morgan Stanley set a $502.00 price objective on shares of Broadcom and gave the stock an “overweight” rating in a report on Thursday, June 4th. One research 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’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $490.13.

Broadcom Stock Performance

Shares of Broadcom stock opened at $411.35 on Friday. Broadcom Inc. has a 52 week low of $244.17 and a 52 week high of $495.00. 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 business has a 50 day moving average price of $410.21 and a 200-day moving average price of $363.17. The company 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.

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

Broadcom Dividend Announcement

The company 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 dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend is Monday, June 22nd. Broadcom’s payout ratio is currently 43.33%.

More Broadcom News

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

Insider Activity

In related news, insider Mark David Brazeal sold 4,825 shares of the firm’s stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $394.91, for a total transaction of $1,905,440.75. Following the transaction, the insider directly owned 269,989 shares of the company’s stock, valued at $106,621,355.99. This trade represents a 1.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Charlie B. Kawwas sold 10,000 shares of the business’s stock in a transaction dated Wednesday, April 8th. The stock was sold at an average price of $345.23, for a total transaction of $3,452,300.00. Following the transaction, the insider owned 787,184 shares in the company, valued at approximately $271,759,532.32. This trade represents a 1.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 59,385 shares of company stock worth $21,301,057. Company insiders own 1.90% of the company’s stock.

Broadcom 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.