Stenger Family Office LLC Boosts Stock Position in Broadcom Inc. $AVGO

Stenger Family Office LLC increased its holdings in Broadcom Inc. (NASDAQ:AVGO) by 221.6% during the 4th quarter, Holdings Channel reports. The firm owned 15,007 shares of the semiconductor manufacturer’s stock after buying an additional 10,340 shares during the period. Broadcom makes up approximately 1.1% of Stenger Family Office LLC’s investment portfolio, making the stock its 24th biggest position. Stenger Family Office LLC’s holdings in Broadcom were worth $5,194,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of AVGO. ROSS JOHNSON & Associates LLC grew its position 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 worth $25,000 after buying an additional 66 shares during the last quarter. SWAN Capital LLC raised its holdings in shares of Broadcom by 261.9% during the fourth quarter. SWAN Capital LLC now owns 76 shares of the semiconductor manufacturer’s stock valued at $26,000 after acquiring an additional 55 shares in the last quarter. Miller Global Investments LLC purchased a new stake in Broadcom in the fourth quarter worth $31,000. Nvest Wealth Strategies Inc. purchased a new stake in Broadcom in the fourth quarter worth $33,000. Finally, Family CFO Inc bought a new stake in Broadcom in the fourth quarter valued at $35,000. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Key Headlines Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom’s debt tender offer was upsized to $3 billion after strong investor demand, signaling active balance-sheet management and reinforcing investor confidence. Broadcom Inc. Announces Results and Upsize of Offers to Purchase for Cash Certain of its Outstanding Debt Securities
• Positive Sentiment: JPMorgan remained bullish on Broadcom, saying investors should be “aggressive buyers,” which supports the view that the market may still be underestimating AVGO’s AI growth. AVGO stock jumps — JPMorgan says investors should be ‘aggressive buyers’ of Broadcom at current levels
• Positive Sentiment: Citi also called Broadcom a top chip stock on strong data-center demand, adding another bullish Wall Street view tied to AI infrastructure spending. Citi Touts Broadcom Inc. (AVGO) as a Top Chip Stock on Soaring Data Center Demand
• Positive Sentiment: One report said VMware, Broadcom’s second-largest business, may be set to accelerate, which could broaden growth beyond the company’s AI chip exposure. VMware: Broadcom’s Second Biggest Business Set to Accelerate
• Neutral Sentiment: Insider Mark David Brazeal sold shares in two June transactions, but the sales were relatively small versus his remaining stake and do not necessarily change the broader investment thesis. Mark David Brazeal insider trading page
• Negative Sentiment: One analyst warned that chip valuations are getting stretched and suggested investors could consider alternatives, including Broadcom, which may temper enthusiasm if valuation concerns intensify. Analyst Warns Intel Valuation ‘Doesn’t Make Sense.’ Suggests NVIDIA, AMD, Micron, and Broadcom as Alternatives.

Insider Activity

In related news, Director Harry L. You purchased 1,000 shares of the stock in a transaction dated Thursday, June 11th. The stock was purchased at an average price of $373.57 per share, with a total value of $373,570.00. Following the transaction, the director directly owned 38,466 shares in the company, valued at $14,369,743.62. This trade represents a 2.67% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider S. Ram Velaga sold 17,260 shares of the company’s stock in a transaction dated Thursday, April 9th. The stock was sold at an average price of $352.12, for a total transaction of $6,077,591.20. Following the completion of the transaction, the insider owned 65,932 shares in the company, valued at approximately $23,215,975.84. The trade was a 20.75% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 59,385 shares of company stock valued at $21,301,057. 1.90% of the stock is currently owned by insiders.

Broadcom Stock Performance

Shares of AVGO opened at $411.35 on Friday. The company has a quick ratio of 2.01, a current ratio of 2.24 and a debt-to-equity ratio of 0.71. The business’s 50 day moving average price is $411.42 and its 200-day moving average price is $363.50. Broadcom Inc. has a 52 week low of $244.17 and a 52 week high of $495.00. The stock has a market cap of $1.96 trillion, a P/E ratio of 68.56, a P/E/G ratio of 0.72 and a beta of 1.41.

Broadcom (NASDAQ:AVGO) last posted its quarterly 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 company 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 quarterly revenue was up 47.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.58 EPS. Equities research analysts anticipate that Broadcom Inc. will post 10.24 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 22nd will be issued a dividend of $0.65 per share. The ex-dividend date is Monday, June 22nd. This represents a $2.60 annualized dividend and a dividend yield of 0.6%. Broadcom’s dividend payout ratio (DPR) is presently 43.33%.

Analysts Set New Price Targets

Several research analysts have commented on AVGO shares. Wall Street Zen upgraded shares of Broadcom from a “buy” rating to a “strong-buy” rating in a report on Monday, June 15th. Seaport Research Partners reiterated a “neutral” rating on shares of Broadcom in a research report on Wednesday, April 8th. Cantor Fitzgerald restated an “overweight” rating and issued a $525.00 price objective on shares of Broadcom in a report on Thursday, June 4th. JPMorgan Chase & Co. upped their target price on Broadcom from $500.00 to $580.00 and gave the stock an “overweight” rating in a report on Thursday, June 4th. Finally, Erste Group Bank upgraded Broadcom from a “hold” rating to a “buy” rating in a research note on Friday, June 5th. One analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $490.13.

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.