Vertrix Wealth Management LLC Invests $5.44 Million in Broadcom Inc. $AVGO

Vertrix Wealth Management LLC bought a new position in Broadcom Inc. (NASDAQ:AVGO) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 17,564 shares of the semiconductor manufacturer’s stock, valued at approximately $5,436,000. Broadcom makes up about 2.0% of Vertrix Wealth Management LLC’s investment portfolio, making the stock its 14th biggest position.

A number of other large investors have also recently added to or reduced their stakes in the business. ROSS JOHNSON & Associates LLC increased its holdings in shares of Broadcom by 1,320.0% in the fourth quarter. ROSS JOHNSON & Associates LLC now owns 71 shares of the semiconductor manufacturer’s stock valued at $25,000 after buying an additional 66 shares in the last quarter. Networth Advisors LLC grew its holdings in shares of Broadcom by 546.2% in the 1st quarter. Networth Advisors LLC now owns 84 shares of the semiconductor manufacturer’s stock worth $26,000 after acquiring an additional 71 shares during the last quarter. SWAN Capital LLC raised its position in shares of Broadcom by 261.9% during the fourth quarter. SWAN Capital LLC now owns 76 shares of the semiconductor manufacturer’s stock worth $26,000 after purchasing an additional 55 shares during the period. Miller Global Investments LLC acquired a new stake in shares of Broadcom during the fourth quarter worth $31,000. Finally, Nvest Wealth Strategies Inc. purchased a new stake in shares of Broadcom during the fourth quarter valued at $33,000. 76.43% of the stock is currently owned by institutional investors.

Key Broadcom News

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: JPMorgan, UBS, Jefferies and other analysts remain constructive on Broadcom’s AI-driven growth, with price targets well above current levels and continued optimism around custom AI silicon demand, including exposure to customers such as OpenAI and Anthropic. UBS Reaffirms Buy Rating on Broadcom (AVGO) Amid AI ASIC Demand and OpenAI, Anthropic Growth
• Positive Sentiment: Articles highlighting Broadcom’s partnership with OpenAI on the “Jalapeño” AI accelerator reinforce the market’s bullish view that AI infrastructure can keep driving revenue growth. What Broadcom (AVGO)’s Jalapeño AI Accelerator Partnership With OpenAI Means For Shareholders
• Neutral Sentiment: Several recent write-ups argue Broadcom may be attractive after its pullback, but they mostly restate the same long-term thesis rather than pointing to a new catalyst. Why Broadcom Stock Slumped Today
• Neutral Sentiment: Investors continue to search for clues on whether Broadcom can rebound from its post-earnings decline, with coverage focusing on earnings estimates and fair-value changes. Broadcom (AVGO) Stock Gets Fair Value Boost As Analysts Split On AI Outlook
• Negative Sentiment: Director Justine Page sold 1,602 shares of Broadcom stock, extending insider-selling headlines that can weigh on sentiment even if the sale is relatively small versus the company’s size. SEC Form 4 filing for Justine Page sale
• Negative Sentiment: Broadcom remains about 14% below its last earnings report level, and recent commentary suggests investors are still uneasy about whether the company’s strong results were enough to justify its premium valuation. Broadcom Inc. (AVGO) Down 14% Since Last Earnings Report: Can It Rebound?

Broadcom Stock Performance

Shares of AVGO stock opened at $360.45 on Friday. Broadcom Inc. has a 1-year low of $269.58 and a 1-year high of $495.00. The company has a current ratio of 2.24, a quick ratio of 2.01 and a debt-to-equity ratio of 0.71. The company has a market capitalization of $1.71 trillion, a price-to-earnings ratio of 60.08, a P/E/G ratio of 0.63 and a beta of 1.45. The stock’s fifty day simple moving average is $407.92 and its 200-day simple moving average is $362.33.

Broadcom (NASDAQ:AVGO) last posted its quarterly 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 firm 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 quarterly revenue was up 47.9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.58 earnings per share. On average, sell-side analysts predict that Broadcom Inc. will post 10.24 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 22nd were issued a $0.65 dividend. The ex-dividend date was Monday, June 22nd. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.7%. Broadcom’s dividend payout ratio is currently 43.33%.

Insider Buying and Selling

In related news, Director Justine Page sold 2,018 shares of the business’s stock in a transaction that occurred on Wednesday, April 8th. The shares were sold at an average price of $353.00, for a total transaction of $712,354.00. Following the transaction, the director directly owned 18,164 shares of the company’s stock, valued at approximately $6,411,892. The trade was a 10.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Harry L. You acquired 1,000 shares of the company’s stock in a transaction on Thursday, June 11th. The stock was bought at an average price of $373.57 per share, for a total transaction of $373,570.00. Following the purchase, the director owned 38,466 shares in the company, valued at approximately $14,369,743.62. This trade represents a 2.67% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have sold 60,987 shares of company stock worth $21,899,980 over the last ninety days. 1.90% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. Truist Financial increased their price target on Broadcom from $545.00 to $550.00 and gave the company a “buy” rating in a research report on Thursday, June 4th. Wall Street Zen raised shares of Broadcom from a “buy” rating to a “strong-buy” rating in a research note on Wednesday. KeyCorp reiterated an “overweight” rating and issued a $575.00 target price (up from $500.00) on shares of Broadcom in a report on Thursday, June 4th. Royal Bank Of Canada raised their target price on shares of Broadcom from $360.00 to $400.00 and gave the stock a “sector perform” rating in a report on Thursday, June 4th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $525.00 target price on shares of Broadcom in a research report on Thursday, June 4th. One analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $493.24.

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.