Murphy & Mullick Capital Management Corp Reduces Position in Broadcom Inc. $AVGO

Murphy & Mullick Capital Management Corp reduced its stake in Broadcom Inc. (NASDAQ:AVGO) by 13.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,942 shares of the semiconductor manufacturer’s stock after selling 1,929 shares during the period. Broadcom makes up 2.7% of Murphy & Mullick Capital Management Corp’s portfolio, making the stock its 4th biggest position. Murphy & Mullick Capital Management Corp’s holdings in Broadcom were worth $3,696,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of AVGO. Vanguard Group Inc. raised its holdings in Broadcom by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 482,707,302 shares of the semiconductor manufacturer’s stock worth $167,064,997,000 after buying an additional 3,919,715 shares during the last quarter. State Street Corp grew its holdings in shares of Broadcom by 2.7% during the fourth quarter. State Street Corp now owns 190,084,351 shares of the semiconductor manufacturer’s stock valued at $65,788,194,000 after buying an additional 5,040,801 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Broadcom by 1.4% during the fourth quarter. Geode Capital Management LLC now owns 111,277,280 shares of the semiconductor manufacturer’s stock valued at $38,396,634,000 after buying an additional 1,548,699 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Broadcom by 3.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 85,546,083 shares of the semiconductor manufacturer’s stock valued at $29,607,500,000 after acquiring an additional 2,491,644 shares in the last quarter. Finally, Norges Bank purchased a new position in Broadcom in the 4th quarter worth approximately $24,252,196,000. 76.43% of the stock is currently owned by institutional investors.

Broadcom Trading Down 0.8%

Shares of NASDAQ:AVGO opened at $378.91 on Friday. The stock has a 50 day moving average of $412.34 and a 200 day moving average of $363.34. The company has a market cap of $1.80 trillion, a PE ratio of 63.15, a price-to-earnings-growth ratio of 0.67 and a beta of 1.41. The company has a current ratio of 2.24, a quick ratio of 2.01 and a debt-to-equity ratio of 0.71. Broadcom Inc. has a 12-month low of $262.66 and a 12-month high of $495.00.

Broadcom (NASDAQ:AVGO) last released its earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 EPS for the quarter, topping analysts’ consensus estimates of $2.40 by $0.04. Broadcom had a net margin of 38.85% and a return on equity of 41.61%. The company had revenue of $22.19 billion for the quarter, compared to analysts’ expectations of $22.13 billion. During the same quarter last year, the business earned $1.58 EPS. The firm’s revenue was up 47.9% compared to the same quarter last year. As a group, equities research analysts expect that Broadcom Inc. will post 10.24 EPS for the current year.

Broadcom Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 22nd will be paid a $0.65 dividend. The ex-dividend date of this dividend is 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 is 43.33%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Truist Financial upped their price objective on Broadcom from $545.00 to $550.00 and gave the company a “buy” rating in a research report on Thursday, June 4th. Weiss Ratings raised Broadcom from a “buy (b-)” rating to a “buy (b)” rating in a report on Tuesday, June 9th. Oppenheimer restated an “outperform” rating and issued a $535.00 price target (up from $450.00) on shares of Broadcom in a research note on Thursday, June 4th. JPMorgan Chase & Co. upped their price target on Broadcom from $500.00 to $580.00 and gave the company an “overweight” rating in a report on Thursday, June 4th. Finally, Susquehanna reaffirmed a “positive” rating and set a $490.00 price objective (up from $450.00) on shares of Broadcom in a research report on Thursday, May 28th. One investment analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $493.24.

Insider Activity

In related news, insider Mark David Brazeal sold 4,825 shares of Broadcom stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $394.91, for a total transaction of $1,905,440.75. Following the transaction, the insider owned 269,989 shares in the company, valued at approximately $106,621,355.99. The trade was a 1.76% decrease in their position. 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 8,000 shares of the company’s stock in a transaction on Friday, April 10th. The stock was sold at an average price of $370.52, for a total transaction of $2,964,160.00. Following the completion of the transaction, the insider directly owned 57,932 shares of the company’s stock, valued at $21,464,964.64. This represents a 12.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 59,385 shares of company stock worth $21,301,057. 1.90% of the stock is currently owned by insiders.

Key Stories Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom and OpenAI unveiled Jalapeño, a custom AI inference chip that could strengthen Broadcom’s role in next-generation AI infrastructure and generate new demand for its networking and accelerator products. Reuters article on OpenAI/Broadcom custom chip
• Positive Sentiment: Broadcom was also tied to a new $35 billion AI platform aimed at expanding data-center compute capacity, reinforcing the company’s exposure to multi-year AI spending. Yahoo Finance article on AI platform
• Neutral Sentiment: Market commentary suggested semiconductor weakness may be a buying opportunity, but broader AI sentiment remains uneven as investors question which parts of the ecosystem will see the biggest payoff. 247WallSt article on chip stocks
• Neutral Sentiment: Broadcom’s short-interest update reported 0 shares outstanding, which does not provide a meaningful signal for investors.
• Negative Sentiment: Despite the positive AI headlines, AVGO has also been pressured by broader semiconductor volatility and reports of weakness in parts of the AI-chip complex. Yahoo Finance article on AVGO weakness

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.