Buffalo Business & Estate Services Ltd. Increases Stock Position in Broadcom Inc. $AVGO

Buffalo Business & Estate Services Ltd. raised its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 8.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 30,718 shares of the semiconductor manufacturer’s stock after purchasing an additional 2,367 shares during the quarter. Broadcom accounts for about 1.4% of Buffalo Business & Estate Services Ltd.’s holdings, making the stock its 11th biggest holding. Buffalo Business & Estate Services Ltd.’s holdings in Broadcom were worth $9,507,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of AVGO. Norges Bank bought a new stake in shares of Broadcom during the 4th quarter worth $24,252,196,000. Cardano Risk Management B.V. increased its stake in Broadcom by 895.2% in the fourth quarter. Cardano Risk Management B.V. now owns 12,689,800 shares of the semiconductor manufacturer’s stock valued at $4,391,940,000 after acquiring an additional 11,414,701 shares during the last quarter. State Street Corp raised its position in Broadcom by 2.7% during the fourth quarter. State Street Corp now owns 190,084,351 shares of the semiconductor manufacturer’s stock valued at $65,788,194,000 after purchasing an additional 5,040,801 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its position in Broadcom by 499.4% during the third quarter. Arrowstreet Capital Limited Partnership now owns 5,634,232 shares of the semiconductor manufacturer’s stock valued at $1,858,789,000 after purchasing an additional 4,694,313 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in Broadcom by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 482,707,302 shares of the semiconductor manufacturer’s stock worth $167,064,997,000 after purchasing an additional 3,919,715 shares during the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Insider Transactions at Broadcom

In related news, insider Charlie B. Kawwas sold 10,000 shares of Broadcom stock in a transaction on Wednesday, April 8th. The shares were sold at an average price of $345.23, for a total value of $3,452,300.00. Following the transaction, the insider directly owned 787,184 shares of the company’s stock, valued at $271,759,532.32. The trade was a 1.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Justine Page sold 2,018 shares of the business’s stock in a transaction dated Wednesday, April 8th. The shares were sold at an average price of $353.00, for a total transaction of $712,354.00. Following the completion of the transaction, the director owned 18,164 shares in the company, valued at $6,411,892. The trade was a 10.00% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 59,385 shares of company stock valued at $21,301,057. 1.90% of the stock is currently owned by insiders.

Broadcom Trading Down 0.8%

NASDAQ AVGO opened at $378.91 on Friday. The firm has a market cap of $1.80 trillion, a PE ratio of 63.15, a price-to-earnings-growth ratio of 0.67 and a beta of 1.41. Broadcom Inc. has a 1-year low of $262.66 and a 1-year high of $495.00. The stock has a 50-day moving average of $412.34 and a 200-day moving average of $363.34. The company has a current ratio of 2.24, a quick ratio of 2.01 and a debt-to-equity ratio of 0.71.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.40 by $0.04. The business 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 revenue for the quarter was up 47.9% compared to the same quarter last year. During the same period last year, the company earned $1.58 EPS. As a group, sell-side analysts forecast that Broadcom Inc. will post 10.24 EPS for the current year.

Broadcom Announces Dividend

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

Broadcom News Roundup

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom and OpenAI unveiled Jalapeño, a custom AI inference chip that could strengthen Broadcom’s role in next-generation AI infrastructure and generate new demand for its networking and accelerator products. Reuters article on OpenAI/Broadcom custom chip
• Positive Sentiment: Broadcom was also tied to a new $35 billion AI platform aimed at expanding data-center compute capacity, reinforcing the company’s exposure to multi-year AI spending. Yahoo Finance article on AI platform
• Neutral Sentiment: Market commentary suggested semiconductor weakness may be a buying opportunity, but broader AI sentiment remains uneven as investors question which parts of the ecosystem will see the biggest payoff. 247WallSt article on chip stocks
• Neutral Sentiment: Broadcom’s short-interest update reported 0 shares outstanding, which does not provide a meaningful signal for investors.
• Negative Sentiment: Despite the positive AI headlines, AVGO has also been pressured by broader semiconductor volatility and reports of weakness in parts of the AI-chip complex. Yahoo Finance article on AVGO weakness

Analyst Ratings Changes

A number of equities analysts have recently issued reports on AVGO shares. UBS Group set a $485.00 price objective on Broadcom and gave the stock a “buy” rating in a report on Thursday, June 4th. Wells Fargo & Company reissued an “overweight” rating and set a $545.00 price objective (up from $430.00) on shares of Broadcom in a report on Thursday, May 14th. Mizuho boosted their target price on Broadcom from $480.00 to $530.00 and gave the stock an “outperform” rating in a research report on Thursday, June 4th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $525.00 target price on shares of Broadcom in a research note on Thursday, June 4th. Finally, The Goldman Sachs Group reiterated a “buy” rating and set a $525.00 price target 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 issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Broadcom currently has an average rating of “Moderate Buy” and an average target price of $493.24.

Broadcom 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.