Winthrop Partners WNY LLC Buys New Shares in Broadcom Inc. $AVGO

Winthrop Partners WNY LLC bought a new position in Broadcom Inc. (NASDAQ:AVGO) during the fourth quarter, according to the company in its most recent filing with the SEC. The firm bought 27,409 shares of the semiconductor manufacturer’s stock, valued at approximately $9,486,000. Broadcom accounts for approximately 5.1% of Winthrop Partners WNY LLC’s investment portfolio, making the stock its biggest holding.

Other hedge funds have also added to or reduced their stakes in the company. ROSS JOHNSON & Associates LLC grew its position in Broadcom by 1,320.0% during the 4th 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 last quarter. SWAN Capital LLC increased its stake in Broadcom by 261.9% in the 4th 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 bought a new stake in Broadcom in the fourth quarter valued at approximately $31,000. Nvest Wealth Strategies Inc. bought a new stake in Broadcom in the fourth quarter valued at approximately $33,000. Finally, Family CFO Inc purchased a new stake in shares of Broadcom during the fourth quarter valued at approximately $35,000. 76.43% of the stock is owned by institutional investors.

Broadcom News Summary

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom’s debt tender offer was upsized to $3 billion after strong investor demand, signaling active balance-sheet management and reinforcing investor confidence. Broadcom Inc. Announces Results and Upsize of Offers to Purchase for Cash Certain of its Outstanding Debt Securities
• Positive Sentiment: JPMorgan remained bullish on Broadcom, saying investors should be “aggressive buyers,” which supports the view that the market may still be underestimating AVGO’s AI growth. AVGO stock jumps — JPMorgan says investors should be ‘aggressive buyers’ of Broadcom at current levels
• Positive Sentiment: Citi also called Broadcom a top chip stock on strong data-center demand, adding another bullish Wall Street view tied to AI infrastructure spending. Citi Touts Broadcom Inc. (AVGO) as a Top Chip Stock on Soaring Data Center Demand
• Positive Sentiment: One report said VMware, Broadcom’s second-largest business, may be set to accelerate, which could broaden growth beyond the company’s AI chip exposure. VMware: Broadcom’s Second Biggest Business Set to Accelerate
• Neutral Sentiment: Insider Mark David Brazeal sold shares in two June transactions, but the sales were relatively small versus his remaining stake and do not necessarily change the broader investment thesis. Mark David Brazeal insider trading page
• Negative Sentiment: One analyst warned that chip valuations are getting stretched and suggested investors could consider alternatives, including Broadcom, which may temper enthusiasm if valuation concerns intensify. Analyst Warns Intel Valuation ‘Doesn’t Make Sense.’ Suggests NVIDIA, AMD, Micron, and Broadcom as Alternatives.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Jefferies Financial Group set a $550.00 target price on shares of Broadcom and gave the stock a “buy” rating in a report on Thursday, June 4th. DA Davidson increased their price target on shares of Broadcom from $375.00 to $400.00 and gave the company a “neutral” rating in a research report on Thursday, June 4th. Oppenheimer reissued an “outperform” rating and issued a $535.00 price target (up from $450.00) on shares of Broadcom in a report on Thursday, June 4th. Rosenblatt Securities reaffirmed a “buy” rating and set a $500.00 price objective on shares of Broadcom in a research note on Thursday, June 4th. Finally, Susquehanna reiterated a “positive” rating and set a $490.00 target price (up from $450.00) on shares of Broadcom in a report on Thursday, May 28th. One research analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $490.13.

Broadcom Stock Performance

Shares of AVGO stock opened at $411.35 on Monday. The firm has a market capitalization of $1.96 trillion, a price-to-earnings ratio of 68.56, a PEG ratio of 0.72 and a beta of 1.41. The stock has a fifty day moving average of $411.42 and a 200 day moving average of $363.34. 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.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share (EPS) 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 the consensus estimate of $22.13 billion. During the same period in the previous year, the firm earned $1.58 EPS. The company’s quarterly revenue was up 47.9% compared to the same quarter last year. As a group, research analysts expect that Broadcom Inc. will post 10.24 earnings per share for the current year.

Broadcom Announces Dividend

The business also recently declared 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. 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 dividend payout ratio is presently 43.33%.

Insider Buying and Selling at Broadcom

In other news, Director Harry L. You bought 1,000 shares of the stock in a transaction dated 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 directly owned 38,466 shares in the company, valued at $14,369,743.62. This trade represents a 2.67% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider S. Ram Velaga sold 8,000 shares of Broadcom stock in a transaction that occurred on Friday, April 10th. The shares were sold at an average price of $370.52, for a total value of $2,964,160.00. Following the sale, the insider owned 57,932 shares in the company, valued at $21,464,964.64. This represents a 12.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 59,385 shares of company stock worth $21,301,057. 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.