OneAscent Family Office LLC Raises Holdings in Broadcom Inc. $AVGO

OneAscent Family Office LLC boosted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 29.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,513 shares of the semiconductor manufacturer’s stock after buying an additional 1,475 shares during the quarter. Broadcom makes up approximately 1.5% of OneAscent Family Office LLC’s investment portfolio, making the stock its 13th biggest holding. OneAscent Family Office LLC’s holdings in Broadcom were worth $2,254,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in Broadcom by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 482,707,302 shares of the semiconductor manufacturer’s stock valued at $167,064,997,000 after buying an additional 3,919,715 shares during the period. Geode Capital Management LLC increased its holdings in Broadcom by 1.4% during the fourth quarter. Geode Capital Management LLC now owns 111,277,280 shares of the semiconductor manufacturer’s stock valued at $38,396,634,000 after buying an additional 1,548,699 shares during the period. Norges Bank acquired a new stake in Broadcom in the fourth quarter valued at approximately $24,252,196,000. Invesco Ltd. boosted its stake in Broadcom by 1.8% in the third quarter. Invesco Ltd. now owns 39,149,651 shares of the semiconductor manufacturer’s stock valued at $12,915,861,000 after acquiring an additional 700,021 shares in the last quarter. Finally, Legal & General Group Plc boosted its stake in Broadcom by 2.3% in the third quarter. Legal & General Group Plc now owns 33,450,786 shares of the semiconductor manufacturer’s stock valued at $11,035,749,000 after acquiring an additional 748,709 shares in the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Broadcom

In related news, insider Mark David Brazeal sold 50,488 shares of the stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $321.60, for a total value of $16,236,940.80. Following the transaction, the insider owned 278,141 shares in the company, valued at approximately $89,450,145.60. This represents a 15.36% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider S. Ram Velaga sold 38,841 shares of the stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $321.60, for a total transaction of $12,491,265.60. Following the completion of the transaction, the insider owned 96,147 shares in the company, valued at approximately $30,920,875.20. This trade represents a 28.77% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 324,282 shares of company stock worth $106,425,249 in the last 90 days. Corporate insiders own 1.90% of the company’s stock.

Broadcom Trading Up 2.8%

NASDAQ:AVGO opened at $396.60 on Tuesday. Broadcom Inc. has a 12 month low of $241.11 and a 12 month high of $495.00. The firm has a fifty day simple moving average of $397.96 and a 200-day simple moving average of $362.43. 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 $1.88 trillion, a P/E ratio of 66.10, a PEG ratio of 0.70 and a beta of 1.41.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 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 business had revenue of $22.19 billion during the quarter, compared to the consensus estimate of $22.13 billion. During the same period in the previous year, the firm posted $1.58 earnings per share. The business’s revenue for the quarter was up 47.9% compared to the same quarter last year. On average, equities research analysts anticipate that Broadcom Inc. will post 9.97 earnings per share for the current year.

Broadcom Announces Dividend

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

Wall Street Analyst Weigh In

AVGO has been the subject of several recent analyst reports. UBS Group set a $485.00 target price on shares of Broadcom and gave the company a “buy” rating in a research note on Thursday. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $515.00 target price (up from $430.00) on shares of Broadcom in a research note on Thursday. Jefferies Financial Group set a $550.00 target price on shares of Broadcom and gave the company a “buy” rating in a research note on Thursday, June 4th. Cantor Fitzgerald restated an “overweight” rating and issued a $525.00 target price on shares of Broadcom in a research note on Thursday, June 4th. Finally, Wells Fargo & Company restated an “overweight” rating and issued a $545.00 target price (up from $430.00) on shares of Broadcom in a research note on Thursday, May 14th. One equities research 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. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $490.13.

Broadcom News Summary

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom announced expanded security investments for the Spring and Java ecosystem, aiming to help enterprise customers defend against AI-enabled threats and reinforcing its software strategy. Broadcom Expands Its Investment in Spring and Java Ecosystem Security to Prepare Customers for AI-Enabled Threats
• Positive Sentiment: Several analysts and market commentators said the recent post-earnings decline may be exaggerated, arguing that Broadcom’s strong revenue growth and AI momentum still support the long-term story. Jim Cramer on Broadcom: “The Disappointing Earnings May Not Be as Crushing as We Think”
• Positive Sentiment: Wall Street sentiment remains constructive, with Bank of America raising its price target on Broadcom to $530 from $450 while keeping a Buy rating after the latest quarterly results and guidance. Is Broadcom (AVGO) the Best Stock in Chase Coleman’s Tiger Global?

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.