DE Burlo Group Inc. Decreases Position in Broadcom Inc. $AVGO

DE Burlo Group Inc. decreased its position in Broadcom Inc. (NASDAQ:AVGO) by 20.8% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 50,250 shares of the semiconductor manufacturer’s stock after selling 13,175 shares during the period. Broadcom comprises approximately 2.1% of DE Burlo Group Inc.’s portfolio, making the stock its 17th biggest holding. DE Burlo Group Inc.’s holdings in Broadcom were worth $17,392,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in AVGO. ROSS JOHNSON & Associates LLC grew its stake in 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 during the last quarter. SWAN Capital LLC raised its position in Broadcom by 261.9% during the fourth 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. Miller Global Investments LLC purchased a new stake in shares of Broadcom in the fourth quarter valued at about $31,000. Nvest Wealth Strategies Inc. purchased a new stake in shares of Broadcom in the fourth quarter valued at about $33,000. Finally, Family CFO Inc acquired a new stake in shares of Broadcom in the fourth quarter valued at approximately $35,000. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Analyst Upgrades and Downgrades

AVGO has been the subject of several research reports. Zacks Research downgraded Broadcom from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 21st. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $515.00 price target (up from $430.00) on shares of Broadcom in a research report on Thursday, June 4th. TD Cowen reissued a “buy” rating and issued a $500.00 target price on shares of Broadcom in a research note on Thursday, June 4th. Rosenblatt Securities restated a “buy” rating and issued a $500.00 target price on shares of Broadcom in a report on Thursday, June 4th. Finally, Mizuho raised their price target on shares of Broadcom from $480.00 to $530.00 and gave the stock an “outperform” rating in a research note on Thursday, June 4th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Broadcom presently has a consensus rating of “Moderate Buy” and a consensus target price of $490.13.

Broadcom Price Performance

AVGO stock opened at $382.07 on Friday. The stock has a market capitalization of $1.82 trillion, a price-to-earnings ratio of 63.68, a price-to-earnings-growth ratio of 0.67 and a beta of 1.41. 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 Inc. has a 52-week low of $244.17 and a 52-week high of $495.00. The stock’s fifty day simple moving average is $404.26 and its 200-day simple moving average is $363.33.

Broadcom (NASDAQ:AVGO) last released its earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share for the quarter, topping the consensus estimate of $2.40 by $0.04. The firm had revenue of $22.19 billion for 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 firm’s revenue for the quarter was up 47.9% compared to the same quarter last year. During the same period in the prior year, the business posted $1.58 earnings per share. Equities research analysts expect that Broadcom Inc. will post 10.24 EPS for the current 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 issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Monday, June 22nd. Broadcom’s payout ratio is presently 43.33%.

More Broadcom News

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

Insider Activity at Broadcom

In related news, insider Mark David Brazeal sold 50,488 shares of the company’s stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $321.60, for a total transaction of $16,236,940.80. Following the completion of the transaction, the insider owned 278,141 shares of the company’s stock, valued at approximately $89,450,145.60. This represents a 15.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Charlie B. Kawwas sold 39,116 shares of Broadcom stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $321.61, for a total transaction of $12,580,096.76. Following the completion of the transaction, the insider owned 74,626 shares in the company, valued at approximately $24,000,467.86. This trade represents a 34.39% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 324,282 shares of company stock worth $106,425,249. 1.90% of the stock is currently owned by company insiders.

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.