Broadcom Inc. $AVGO is Bridgeway Capital Management LLC’s 3rd Largest Position

Bridgeway Capital Management LLC raised its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 4.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 126,339 shares of the semiconductor manufacturer’s stock after buying an additional 5,776 shares during the quarter. Broadcom comprises about 0.9% of Bridgeway Capital Management LLC’s portfolio, making the stock its 3rd biggest holding. Bridgeway Capital Management LLC’s holdings in Broadcom were worth $43,726,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of AVGO. ROSS JOHNSON & Associates LLC grew its holdings in shares of Broadcom by 1,320.0% in the fourth quarter. ROSS JOHNSON & Associates LLC now owns 71 shares of the semiconductor manufacturer’s stock valued at $25,000 after purchasing an additional 66 shares during the period. SWAN Capital LLC grew its holdings in shares of Broadcom by 261.9% in the fourth quarter. SWAN Capital LLC now owns 76 shares of the semiconductor manufacturer’s stock valued at $26,000 after purchasing an additional 55 shares during the period. 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. acquired a new position in Broadcom in the fourth quarter valued at about $33,000. Finally, Family CFO Inc acquired a new position in Broadcom in the fourth quarter valued at about $35,000. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Key Broadcom News

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: JPMorgan reiterated a bullish stance on Broadcom, saying the market may be underestimating its long-term AI opportunity and calling the shares attractive at current levels. Barrons article
• Positive Sentiment: Other coverage highlighted Broadcom’s “massive AI pipeline” and the company’s growing role in AI infrastructure, reinforcing expectations for multi-year revenue growth. Benzinga article
• Positive Sentiment: Broadcom announced pricing terms for cash tender offers to repurchase portions of its outstanding debt, a move that can support balance-sheet management and financial flexibility. PR Newswire article
• Neutral Sentiment: Commentary on Broadcom’s latest quarter noted strong AI-chip demand and revenue growth, but also pointed to gross margin pressure and cautious guidance, which may be keeping some investors from getting more aggressive. Zacks article
• Negative Sentiment: Some broader AI-stock commentary has compared today’s AI capex boom to the dot-com era, renewing valuation and cycle-risk concerns across the sector that could weigh on sentiment for AVGO. 247WallSt article

Analysts Set New Price Targets

A number of research analysts have commented on AVGO shares. Erste Group Bank raised shares of Broadcom from a “hold” rating to a “buy” rating in a research report on Friday, June 5th. Truist Financial upped their target price on shares of Broadcom from $545.00 to $550.00 and gave the company a “buy” rating in a research report on Thursday, June 4th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $515.00 target price (up from $430.00) on shares of Broadcom in a research report on Thursday, June 4th. TD Cowen reaffirmed a “buy” rating and issued a $500.00 target price on shares of Broadcom in a research report on Thursday, June 4th. Finally, UBS Group set a $485.00 target price on shares of Broadcom and gave the company a “buy” rating in a research report on Thursday, June 4th. One research 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 stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $490.13.

Insider Transactions at Broadcom

In related news, insider Charlie B. Kawwas sold 10,000 shares of the firm’s stock in a transaction that occurred 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 sale, the insider owned 787,184 shares of the company’s stock, valued at $271,759,532.32. This trade represents a 1.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gayla J. Delly sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 9th. The shares were sold at an average price of $358.31, for a total transaction of $358,310.00. Following the completion of the sale, the director directly owned 32,352 shares in the company, valued at approximately $11,592,045.12. This trade represents a 3.00% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 51,233 shares of company stock valued at $18,125,134 over the last quarter. Insiders own 1.90% of the company’s stock.

Broadcom Stock Up 4.3%

Shares of AVGO opened at $392.90 on Thursday. The stock has a market capitalization of $1.87 trillion, a PE ratio of 65.48, a P/E/G ratio of 0.66 and a beta of 1.41. Broadcom Inc. has a 1 year low of $244.17 and a 1 year high of $495.00. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.01 and a current ratio of 2.24. The company’s 50-day simple moving average is $408.66 and its 200-day simple moving average is $363.11.

Broadcom (NASDAQ:AVGO) last issued 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 analysts’ expectations of $22.13 billion. Broadcom had a net margin of 38.85% and a return on equity of 41.61%. The business’s quarterly revenue was up 47.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.58 earnings per share. Analysts forecast that Broadcom Inc. will post 10.24 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 22nd will be given a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Monday, June 22nd. Broadcom’s dividend payout ratio is currently 43.33%.

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.