Birinyi Associates Inc. Sells 4,521 Shares of Broadcom Inc. $AVGO

Birinyi Associates Inc. cut its holdings in Broadcom Inc. (NASDAQ:AVGO) by 17.4% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 21,401 shares of the semiconductor manufacturer’s stock after selling 4,521 shares during the quarter. Broadcom accounts for 1.8% of Birinyi Associates Inc.’s investment portfolio, making the stock its 13th biggest holding. Birinyi Associates Inc.’s holdings in Broadcom were worth $6,624,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. ROSS JOHNSON & Associates LLC increased its stake in shares of Broadcom by 1,320.0% in the 4th quarter. ROSS JOHNSON & Associates LLC now owns 71 shares of the semiconductor manufacturer’s stock valued at $25,000 after acquiring an additional 66 shares in the last quarter. Networth Advisors LLC boosted its stake in 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 acquiring an additional 71 shares in the last quarter. SWAN Capital LLC grew its holdings in Broadcom by 261.9% in the fourth 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 acquired a new stake in Broadcom in the fourth quarter worth $31,000. Finally, Nvest Wealth Strategies Inc. acquired a new stake in Broadcom in the fourth quarter worth $33,000. 76.43% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Harry L. You bought 1,000 shares of the business’s stock in a transaction that occurred on Thursday, June 11th. The shares were bought at an average price of $373.57 per share, with a total value of $373,570.00. Following the completion of the transaction, the director directly owned 38,466 shares in the company, valued at approximately $14,369,743.62. This represents a 2.67% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Gayla J. Delly sold 1,890 shares of the company’s stock in a transaction on Wednesday, July 8th. The stock was sold at an average price of $385.38, for a total value of $728,368.20. Following the sale, the director owned 31,326 shares of the company’s stock, valued at $12,072,413.88. This trade represents a 5.69% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 61,644 shares of company stock worth $24,016,214 in the last ninety days. Corporate insiders own 1.90% of the company’s stock.

Broadcom Trading Down 5.0%

AVGO opened at $374.45 on Friday. Broadcom Inc. has a fifty-two week low of $273.00 and a fifty-two week high of $495.00. The firm has a market capitalization of $1.78 trillion, a PE ratio of 62.41, a P/E/G ratio of 0.69 and a beta of 1.45. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.24 and a quick ratio of 2.01. The company’s 50-day moving average is $402.47 and its 200 day moving average is $365.27.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings results 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. The business had revenue of $22.19 billion during the quarter, compared to the consensus estimate of $22.13 billion. Broadcom had a return on equity of 41.61% and a net margin of 38.85%.The company’s quarterly revenue was up 47.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.58 EPS. As a group, research analysts predict 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 was paid on Tuesday, June 30th. Stockholders of record on Monday, June 22nd were issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Monday, June 22nd. Broadcom’s dividend payout ratio (DPR) is currently 43.33%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Susquehanna reiterated a “positive” rating and set a $490.00 price objective (up from $450.00) on shares of Broadcom in a report on Thursday, May 28th. Rosenblatt Securities restated a “buy” rating and issued a $500.00 target price on shares of Broadcom in a research note on Thursday, June 4th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $525.00 target price on shares of Broadcom in a research report on Thursday, June 4th. Seaport Research Partners reiterated a “neutral” rating on shares of Broadcom in a report on Wednesday, April 8th. Finally, DA Davidson boosted their price objective on Broadcom from $375.00 to $400.00 and gave the company a “neutral” rating in a 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 given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $493.24.

Key Headlines Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom announced a long-term strategic commitment with Standard Chartered to modernize global banking infrastructure using a secure private cloud foundation, highlighting another enterprise customer win and supporting the company’s recurring infrastructure-software and semiconductor growth story. Standard Chartered Selects Broadcom to Deliver Secure, Always-On Banking Services at Global Scale
• Positive Sentiment: Multiple commentaries framed Broadcom as a core AI beneficiary, with articles saying its AI moat is expanding and that it remains one of the biggest winners from AI infrastructure spending. Broadcom’s AI Moat Keeps Expanding
• Positive Sentiment: Analysts have been boosting price targets despite recent weakness, suggesting Wall Street still expects meaningful upside if Broadcom’s AI and custom-chip momentum continues. As Shares Fall, Analyst Are Boosting Their Broadcom Price Targets
• Neutral Sentiment: Broadcom remains a frequent topic in bullish valuation pieces and long-term price-prediction articles, but these are mainly sentiment drivers rather than immediate catalysts. Price Prediction: Nvidia, AMD & Broadcom-Our Bold Price Predictions for 2029
• Negative Sentiment: Semiconductor shares sold off broadly on worries that AI capex growth may be slowing, and Broadcom was caught up in the sector-wide decline. Marvell Drops 8% as AI Capex Slowdown Fears Weigh on Chips; Broadcom, AMD, and Intel Slide
• Negative Sentiment: An insider sale by Broadcom executive Mark David Brazeal also weighed on sentiment, as investors often view large insider selling as a caution sign even when fundamentals remain strong. Broadcom Inc. (NASDAQ:AVGO) Insider Mark David Brazeal Sells 25,000 Shares

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.