Bancreek Capital Management LP Trims Stock Position in Broadcom Inc. $AVGO

Bancreek Capital Management LP decreased its holdings in Broadcom Inc. (NASDAQ:AVGO – Free Report) by 40.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,929 shares of the semiconductor manufacturer’s stock after selling 5,459 shares during the quarter. Broadcom makes up 11.4% of Bancreek Capital Management LP’s investment portfolio, making the stock its 2nd biggest holding. Bancreek Capital Management LP’s holdings in Broadcom were worth $2,744,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. boosted its position in Broadcom by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 482,707,302 shares of the semiconductor manufacturer’s stock valued at $167,064,997,000 after acquiring an additional 3,919,715 shares during the last quarter. Geode Capital Management LLC boosted its position in 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 acquiring an additional 1,548,699 shares during the last quarter. Norges Bank bought a new stake in Broadcom during the fourth quarter valued at $24,252,196,000. Invesco Ltd. boosted its position in Broadcom by 1.8% during the third quarter. Invesco Ltd. now owns 39,149,651 shares of the semiconductor manufacturer’s stock valued at $12,915,861,000 after acquiring an additional 700,021 shares during the last quarter. Finally, Legal & General Group Plc boosted its position in Broadcom by 2.3% during the third quarter. Legal & General Group Plc now owns 33,450,786 shares of the semiconductor manufacturer’s stock valued at $11,035,749,000 after acquiring an additional 748,709 shares during the last quarter. Institutional investors own 76.43% of the company’s stock.

In related news, insider Mark David Brazeal sold 50,488 shares of the firm’s stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $321.60, for a total value of $16,236,940.80. Following the transaction, the insider owned 278,141 shares of the company’s stock, valued at approximately $89,450,145.60. This trade represents a 15.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Charlie B. Kawwas sold 39,116 shares of the firm’s stock in a transaction dated 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 directly owned 74,626 shares in the company, valued at approximately $24,000,467.86. The trade was a 34.39% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 324,282 shares of company stock worth $106,425,249 in the last quarter. 1.90% of the stock is owned by insiders.

A number of brokerages have commented on AVGO. Bank of America upped their price target on shares of Broadcom from $450.00 to $530.00 and gave the company a “buy” rating in a research report on Thursday. Susquehanna reaffirmed a “positive” rating and set a $490.00 price target (up from $450.00) on shares of Broadcom in a research report on Thursday, May 28th. Wall Street Zen raised shares of Broadcom from a “hold” rating to a “buy” rating in a research report on Sunday. Rosenblatt Securities reissued a “buy” rating and set a $500.00 price objective on shares of Broadcom in a research report on Thursday. Finally, Truist Financial increased their price objective on shares of Broadcom from $545.00 to $550.00 and gave the stock a “buy” rating in a research report on Thursday. One investment 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’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $490.13.

Check Out Our Latest Report on AVGO

AVGO stock opened at $385.73 on Friday. The stock has a market capitalization of $1.83 trillion, a PE ratio of 64.29, a price-to-earnings-growth ratio of 0.79 and a beta of 1.41. The company’s 50-day moving average is $396.22 and its 200-day moving average is $361.90. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.24 and a quick ratio of 1.73. Broadcom Inc. has a 1 year low of $241.11 and a 1 year high of $495.00.

Broadcom (NASDAQ:AVGO – Get Free Report) last released its quarterly earnings data on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share (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 in the prior year, the firm earned $1.58 EPS. The business’s revenue was up 47.9% on a year-over-year basis. Equities research analysts expect that Broadcom Inc. will post 9.97 EPS for the current fiscal year.

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

Here are the key news stories impacting Broadcom this week:
• Broadcom posted record quarterly revenue, beat earnings estimates, and said AI semiconductor demand remains strong, supporting the long-term growth story.
• Several analysts remain bullish and raised price targets after the pullback, arguing the market is overreacting to expectations rather than fundamentals. Goldman Sachs urges investors to buy Broadcom dip with still AI revenue trajectory intact
• Management still expects AI revenue to reach $56 billion in fiscal 2026 and more than $100 billion in fiscal 2027, keeping the longer-term AI thesis intact. AVGO Shares Drop 13% Post Q2 Results: Buy, Sell or Hold on the Dip?
• Broadcom also declared a quarterly dividend, which is supportive for income investors but not a major near-term stock driver.
• The stock is under pressure because the AI outlook, while strong, was not upgraded enough to satisfy investors who had priced in an even bigger upside surprise. Broadcom’s sales and AI chip forecast comes in below expectations, shares tumble
• The disappointment has spilled over into the semiconductor sector, pressuring peers such as AMD, Intel, Micron, and Marvell as investors reassess AI trade valuations. Intel, AMD stocks slide again in aftermath of Broadcom’s weak outlook

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.
• Five stocks we like better than Broadcom
• Samsara Just Answered The AI Question—Is Wall Street Ready To Listen?

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Should You Invest $1,000 in Broadcom Right Now?

Before you consider Broadcom, you’ll want to hear this.

MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Broadcom wasn’t on the list.

While Broadcom currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here…Read more by MarketBeat