Reliant Investment Management LLC Has $17.26 Million Position in Broadcom Inc. $AVGO

Reliant Investment Management LLC trimmed its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 3.9% during the first quarter, Holdings Channel reports. The firm owned 55,752 shares of the semiconductor manufacturer’s stock after selling 2,251 shares during the quarter. Broadcom comprises 8.3% of Reliant Investment Management LLC’s portfolio, making the stock its largest holding. Reliant Investment Management LLC’s holdings in Broadcom were worth $17,256,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. ROSS JOHNSON & Associates LLC raised its stake in Broadcom by 1,320.0% during the fourth quarter. ROSS JOHNSON & Associates LLC now owns 71 shares of the semiconductor manufacturer’s stock worth $25,000 after acquiring an additional 66 shares during the period. Networth Advisors LLC boosted its stake in Broadcom by 546.2% in the first quarter. Networth Advisors LLC now owns 84 shares of the semiconductor manufacturer’s stock valued at $26,000 after acquiring an additional 71 shares during the period. SWAN Capital LLC grew its holdings in shares of Broadcom by 261.9% during the fourth quarter. SWAN Capital LLC now owns 76 shares of the semiconductor manufacturer’s stock valued at $26,000 after purchasing an additional 55 shares during the last quarter. Miller Global Investments LLC bought a new position in shares of Broadcom during the fourth quarter valued at approximately $31,000. Finally, Nvest Wealth Strategies Inc. acquired a new stake in shares of Broadcom during the 4th quarter worth approximately $33,000. 76.43% of the stock is currently owned by institutional investors.

Broadcom News Summary

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 Price Performance

AVGO opened at $360.45 on Monday. Broadcom Inc. has a 12 month low of $269.58 and a 12 month 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 has a market cap of $1.71 trillion, a P/E ratio of 60.08, a P/E/G ratio of 0.63 and a beta of 1.45. The stock’s 50 day moving average price is $407.92 and its 200 day moving average price is $362.49.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share (EPS) for the quarter, topping 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 company had revenue of $22.19 billion during the quarter, compared to analyst estimates of $22.13 billion. During the same quarter in the previous year, the firm posted $1.58 EPS. The firm’s quarterly revenue was up 47.9% on a year-over-year basis. As a group, research analysts predict that Broadcom Inc. will post 10.24 earnings per share for the current year.

Broadcom Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 22nd were issued a $0.65 dividend. The ex-dividend date of this dividend was Monday, June 22nd. This represents a $2.60 annualized dividend and a yield of 0.7%. Broadcom’s dividend payout ratio is presently 43.33%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Bank of America raised their price target on Broadcom from $450.00 to $530.00 and gave the stock a “buy” rating in a report on Thursday, June 4th. Evercore reaffirmed an “outperform” rating and issued a $582.00 target price on shares of Broadcom in a research report on Tuesday, May 19th. Zacks Research cut Broadcom from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 21st. Truist Financial boosted their price target on shares of Broadcom from $545.00 to $550.00 and gave the company a “buy” rating in a report on Thursday, June 4th. Finally, DA Davidson upped their price target on shares of Broadcom from $375.00 to $400.00 and gave the stock a “neutral” rating in a research report on Thursday, June 4th. One analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $493.24.

Insider Transactions at Broadcom

In other Broadcom 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 owned 269,989 shares of the company’s stock, valued at approximately $106,621,355.99. This trade represents a 1.76% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 sale, the insider owned 787,184 shares in the company, valued at $271,759,532.32. This trade represents a 1.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 60,987 shares of company stock worth $21,899,980 over the last ninety days. Insiders own 1.90% of the company’s stock.

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.