Broadcom Inc. $AVGO Stock Holdings Reduced by Klingenstein Fields & Co. LP

Klingenstein Fields & Co. LP decreased its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 1.6% during the fourth quarter, HoldingsChannel reports. The firm owned 516,721 shares of the semiconductor manufacturer’s stock after selling 8,199 shares during the period. Broadcom comprises 6.7% of Klingenstein Fields & Co. LP’s portfolio, making the stock its largest holding. Klingenstein Fields & Co. LP’s holdings in Broadcom were worth $178,837,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. Integrity Investment Advisors LLC increased its position in Broadcom by 593.6% during the 4th quarter. Integrity Investment Advisors LLC now owns 17,257 shares of the semiconductor manufacturer’s stock valued at $5,973,000 after purchasing an additional 14,769 shares during the period. Wealthspire Advisors LLC increased its position in Broadcom by 52.3% during the 4th quarter. Wealthspire Advisors LLC now owns 62,372 shares of the semiconductor manufacturer’s stock valued at $21,587,000 after purchasing an additional 21,418 shares during the period. Tillman Hartley LLC increased its position in Broadcom by 32.2% during the 4th quarter. Tillman Hartley LLC now owns 2,729 shares of the semiconductor manufacturer’s stock valued at $945,000 after purchasing an additional 664 shares during the period. Columbia Bank increased its position in Broadcom by 5.1% during the 4th quarter. Columbia Bank now owns 5,782 shares of the semiconductor manufacturer’s stock valued at $2,001,000 after purchasing an additional 280 shares during the period. Finally, Allianz SE increased its position in Broadcom by 0.3% during the 4th quarter. Allianz SE now owns 171,040 shares of the semiconductor manufacturer’s stock valued at $59,197,000 after purchasing an additional 563 shares during the period. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Key Stories Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom’s quarterly results were very strong, with revenue up 48% to a record $22.2 billion, semiconductor revenue up 79%, AI semiconductor revenue up 143% to $10.8 billion, and more than $30 billion in AI bookings, suggesting demand remains robust. Article Title
• Positive Sentiment: Several analysts and commentators argue the recent drop could be a buying opportunity, saying Broadcom remains a core infrastructure winner in AI and that Wall Street’s long-term outlook is still constructive. Article Title
• Positive Sentiment: Fresh coverage highlighted Broadcom as one of the stocks with catalysts heading into the second half of the year, and some analysts have raised earnings forecasts and price targets despite the selloff. Article Title
• Neutral Sentiment: Jim Cramer said Broadcom’s earnings were “not good” and suggested tech stocks are harder to trust as leadership names, reflecting a more cautious market mood around the stock. Article Title
• Neutral Sentiment: Broadcom also announced cash tender offers for certain outstanding debt securities, a routine balance-sheet move that is unlikely to move the stock by itself. Article Title
• Negative Sentiment: Market commentary says the stock is being punished because investors are nitpicking Broadcom’s AI outlook and pricing the shares as if growth must keep accelerating without any hiccups. Article Title
• Negative Sentiment: One note warned that Broadcom told investors to expect gross profit margins to continue falling, reinforcing concerns that profitability may soften even as revenue grows. Article Title

Wall Street Analyst Weigh In

A number of research firms have commented on AVGO. Rosenblatt Securities reissued a “buy” rating and set a $500.00 target price on shares of Broadcom in a research report on Thursday, June 4th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $515.00 target price (up from $430.00) on shares of Broadcom in a research report on Thursday, June 4th. Jefferies Financial Group set a $550.00 target price on shares of Broadcom and gave the company a “buy” rating in a research report on Thursday, June 4th. Bank of America raised their target price on shares of Broadcom from $450.00 to $530.00 and gave the company a “buy” rating in a research report on Thursday, June 4th. Finally, JPMorgan Chase & Co. raised their price target on shares of Broadcom from $500.00 to $580.00 and gave the company an “overweight” rating in a report on Thursday, June 4th. One investment analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Broadcom has a consensus rating of “Moderate Buy” and an average price target of $490.13.

Broadcom Stock Down 0.9%

NASDAQ:AVGO opened at $382.07 on Friday. Broadcom Inc. has a fifty-two week low of $244.17 and a fifty-two week high of $495.00. The stock has a market capitalization of $1.82 trillion, a P/E ratio of 63.68, a P/E/G ratio of 0.68 and a beta of 1.41. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.01 and a current ratio of 2.24. The company’s 50-day simple moving average is $404.26 and its 200-day simple moving average is $363.33.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $22.13 billion. During the same period last year, the business earned $1.58 EPS. The company’s revenue was up 47.9% compared to the same quarter last year. On average, equities analysts anticipate that Broadcom Inc. will post 10.24 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

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

Insider Buying and Selling

In related news, Director Justine Page sold 2,018 shares of Broadcom stock in a transaction that occurred on Wednesday, April 8th. The shares were sold at an average price of $353.00, for a total value of $712,354.00. Following the completion of the sale, the director directly owned 18,164 shares in the company, valued at $6,411,892. This trade represents a 10.00% decrease in their position. 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 Broadcom stock in a transaction that occurred on 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 completion of the sale, the insider owned 787,184 shares of the company’s stock, valued at $271,759,532.32. This trade represents a 1.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 324,282 shares of company stock worth $106,425,249 over the last ninety days. Company 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.