Broadcom Inc. $AVGO Shares Purchased by Platform Technology Partners

Platform Technology Partners raised its holdings in Broadcom Inc. (NASDAQ:AVGO) by 59.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,614 shares of the semiconductor manufacturer’s stock after acquiring an additional 2,104 shares during the quarter. Platform Technology Partners’ holdings in Broadcom were worth $1,737,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in the business. ROSS JOHNSON & Associates LLC grew its position in Broadcom by 1,320.0% in the fourth quarter. ROSS JOHNSON & Associates LLC now owns 71 shares of the semiconductor manufacturer’s stock worth $25,000 after buying an additional 66 shares during the last quarter. SWAN Capital LLC grew its holdings in shares of 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 acquiring an additional 55 shares during the last quarter. Networth Advisors LLC raised its position in shares of Broadcom by 546.2% during the first quarter. Networth Advisors LLC now owns 84 shares of the semiconductor manufacturer’s stock worth $26,000 after purchasing an additional 71 shares during the period. Miller Global Investments LLC acquired a new stake in shares of Broadcom during the fourth quarter worth $31,000. Finally, Nvest Wealth Strategies Inc. purchased a new stake in shares of Broadcom during the fourth quarter valued at $33,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

More Broadcom News

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom’s expanded partnership with Apple through 2031 should support long-term chip demand and strengthen confidence in its custom silicon growth story. Reuters: Broadcom, Apple extend chip partnership through 2031
• Positive Sentiment: Broadcom is being highlighted as a key AI infrastructure and edge-AI player, which supports the stock’s premium valuation. Seeking Alpha: Broadcom’s AI Infrastructure Model Justifies Its Premium Valuation
• Positive Sentiment: Analyst and investor commentary continues to point to Broadcom’s custom AI silicon growth as a reason estimates may keep moving higher. Yahoo Finance: Why Broadcom Inc.’s Custom AI Silicon Growth Still Supports Its Estimate Story
• Neutral Sentiment: Broader semiconductor momentum has helped AVGO alongside other chip names, adding a sector tailwind to the stock. Yahoo Finance: Allegro MicroSystems and Penguin Solutions Shares Skyrocket
• Negative Sentiment: Some recent coverage warns that Broadcom’s largest AI customer may be shifting business to MediaTek, which could raise questions about customer concentration in its AI chip franchise. MSN: Broadcom’s largest AI customer is fleeing to MediaTek
• Negative Sentiment: One analyst note also said AVGO had been under pressure recently after a weaker near-term outlook and limited improvement to the longer-term AI revenue picture. Zacks: Broadcom Drops 9% in a Month

Insider Activity at Broadcom

In related news, Director Harry L. You purchased 1,000 shares of the stock in a transaction dated Thursday, June 11th. The shares were acquired at an average cost of $373.57 per share, for a total transaction of $373,570.00. Following the acquisition, the director directly owned 38,466 shares in the company, valued at approximately $14,369,743.62. The trade was a 2.67% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Gayla J. Delly sold 1,000 shares of the company’s stock in a transaction on Thursday, April 9th. The stock was sold at an average price of $358.31, for a total transaction of $358,310.00. Following the completion of the transaction, the director directly owned 32,352 shares in the company, valued at $11,592,045.12. This trade represents a 3.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 60,987 shares of company stock worth $21,899,980. 1.90% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on AVGO. Cantor Fitzgerald reissued an “overweight” rating and issued a $525.00 price target on shares of Broadcom in a research note on Thursday, June 4th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $525.00 price objective on shares of Broadcom in a research note on Thursday, June 4th. Jefferies Financial Group set a $550.00 target price on shares of Broadcom and gave the stock a “buy” rating in a research report on Thursday, June 4th. Mizuho boosted their price target on shares of Broadcom from $480.00 to $530.00 and gave the company an “outperform” rating in a report on Thursday, June 4th. Finally, Citigroup restated a “buy” rating on shares of Broadcom in a research report on Thursday, June 4th. One analyst has rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, Broadcom has a consensus rating of “Moderate Buy” and an average target price of $493.24.

Broadcom Stock Down 2.5%

NASDAQ:AVGO traded down $9.17 on Tuesday, hitting $364.73. 4,370,772 shares of the company’s stock traded hands, compared to its average volume of 26,293,332. The company has a market cap of $1.74 trillion, a PE ratio of 60.79, a price-to-earnings-growth ratio of 0.63 and a beta of 1.45. Broadcom Inc. has a 1 year low of $269.58 and a 1 year high of $495.00. 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 firm has a 50-day moving average price of $407.92 and a 200-day moving average price of $362.49.

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 analysts’ consensus estimates of $2.40 by $0.04. The business had revenue of $22.19 billion during the quarter, compared to analyst estimates of $22.13 billion. Broadcom had a net margin of 38.85% and a return on equity of 41.61%. The firm’s revenue was up 47.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.58 earnings per share. Equities analysts anticipate that Broadcom Inc. will post 10.24 EPS for the current fiscal year.

Broadcom Dividend Announcement

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

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.