Gateway Investment Advisers LLC increased its stake in shares of Broadcom Inc. (NASDAQ:AVGO – Free Report) by 0.7% in the fourth quarter, Holdings Channel.com reports. The fund owned 827,745 shares of the semiconductor manufacturer’s stock after purchasing an additional 5,759 shares during the period. Broadcom comprises about 2.7% of Gateway Investment Advisers LLC’s holdings, making the stock its 7th biggest position. Gateway Investment Advisers LLC’s holdings in Broadcom were worth $286,483,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently modified their holdings of AVGO. Robeco Schweiz AG lifted its position in Broadcom by 22.3% during the fourth quarter. Robeco Schweiz AG now owns 17,000 shares of the semiconductor manufacturer’s stock valued at $5,884,000 after purchasing an additional 3,100 shares during the last quarter. Encompass More Asset Management lifted its position in Broadcom by 9.2% during the fourth quarter. Encompass More Asset Management now owns 855 shares of the semiconductor manufacturer’s stock valued at $296,000 after purchasing an additional 72 shares during the last quarter. Ponta Wealth Partners LLC bought a new position in Broadcom during the fourth quarter valued at $1,965,000. MA Private Wealth lifted its position in Broadcom by 11.1% during the fourth quarter. MA Private Wealth now owns 2,607 shares of the semiconductor manufacturer’s stock valued at $902,000 after purchasing an additional 261 shares during the last quarter. Finally, Total Investment Management Inc. lifted its position in Broadcom by 64.9% during the fourth quarter. Total Investment Management Inc. now owns 1,393 shares of the semiconductor manufacturer’s stock valued at $482,000 after purchasing an additional 548 shares during the last quarter. Institutional investors own 76.43% of the company’s stock.
Broadcom Trading Down 2.1%
AVGO stock opened at $419.30 on Wednesday. The company has a market capitalization of $1.99 trillion, a PE ratio of 81.89, a P/E/G ratio of 0.89 and a beta of 1.43. Broadcom Inc. has a 12 month low of $221.60 and a 12 month high of $437.68. The firm’s 50-day moving average is $358.98 and its 200 day moving average is $353.01. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.90 and a quick ratio of 1.73.
Broadcom Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Monday, March 23rd were issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date was Monday, March 23rd. Broadcom’s dividend payout ratio (DPR) is currently 50.78%.
Insiders Place Their Bets
In related news, Director Justine Page sold 2,018 shares of Broadcom stock in a transaction that occurred on Wednesday, April 8th. The shares were sold at an average price of $353.00, for a total value of $712,354.00. Following the completion of the sale, the director directly owned 18,164 shares in the company, valued at $6,411,892. This trade represents a 10.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider S. Ram Velaga sold 8,000 shares of Broadcom stock in a transaction that occurred 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 sale, the insider owned 57,932 shares of the company’s stock, valued at $21,464,964.64. This trade represents a 12.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 324,282 shares of company stock worth $106,425,249. Insiders own 1.90% of the company’s stock.
Key Stories Impacting Broadcom
Here are the key news stories impacting Broadcom this week:
- Positive Sentiment: Citi raised its price target on Broadcom to $500 from $475 and kept a Buy rating, citing strong AI demand and expectations for another strong quarter. Citi Raises Broadcom Price Target to $500: AI Demand Sets Up Another Big April Quarter
- Positive Sentiment: Other Wall Street coverage also pointed to continued upside for Broadcom, reflecting optimism around its AI infrastructure exposure and earnings outlook. Wall Street sets Broadcom (AVGO) stock price for the next 12 months
- Positive Sentiment: Zacks highlighted Broadcom’s strong earnings-surprise history and said the company appears well-positioned to beat estimates again in its next report. Will Broadcom Inc. (AVGO) Beat Estimates Again in Its Next Earnings Report?
- Neutral Sentiment: Broadcom’s latest stock move also appears tied to a recent run-up, with one article saying investors were taking profits after a large AI-driven rally rather than reacting to a fundamental deterioration. Why analysts are bullish on Broadcom stock despite a 4% fall today?
- Neutral Sentiment: Several hedge-fund and institutional filings showed mixed activity in Broadcom, with some firms trimming holdings while Mirova US LLC added shares; these moves are notable but not necessarily a direct signal on the company’s fundamentals. PRIMECAP Management Co trims Broadcom stake by 12,410 shares Cincinnati Specialty Underwriters slashes Broadcom stake by 207K shares Mirova US LLC Boosts Broadcom Stake by 183,850 Shares
Analysts Set New Price Targets
Several equities analysts have commented on the stock. Seaport Research Partners reiterated a “neutral” rating on shares of Broadcom in a research report on Wednesday, April 8th. Wells Fargo & Company upgraded shares of Broadcom from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $410.00 to $430.00 in a research report on Thursday, January 15th. Benchmark reiterated a “buy” rating and set a $485.00 price objective on shares of Broadcom in a research report on Thursday, March 5th. Wolfe Research upgraded shares of Broadcom from a “peer perform” rating to an “outperform” rating and set a $400.00 price objective for the company in a research report on Friday, January 30th. Finally, Zacks Research upgraded shares of Broadcom from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 2nd. Two research analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, Broadcom currently has an average rating of “Moderate Buy” and an average target price of $436.13.
Get Our Latest Stock Report on Broadcom
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.
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