Sumitomo Mitsui DS Asset Management Company Ltd trimmed its holdings in Broadcom Inc. (NASDAQ:AVGO – Free Report) by 0.7% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 759,834 shares of the semiconductor manufacturer’s stock after selling 5,227 shares during the period. Broadcom makes up about 2.1% of Sumitomo Mitsui DS Asset Management Company Ltd’s holdings, making the stock its 6th largest holding. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Broadcom were worth $262,979,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AVGO. Baring Financial LLC grew its holdings in shares of Broadcom by 2.2% during the 4th quarter. Baring Financial LLC now owns 1,359 shares of the semiconductor manufacturer’s stock worth $470,000 after purchasing an additional 29 shares during the period. Five Oceans Advisors lifted its position in Broadcom by 0.4% in the fourth quarter. Five Oceans Advisors now owns 8,191 shares of the semiconductor manufacturer’s stock valued at $2,835,000 after buying an additional 29 shares during the last quarter. Jackson Hole Capital Partners LLC lifted its position in Broadcom by 1.4% in the third quarter. Jackson Hole Capital Partners LLC now owns 2,170 shares of the semiconductor manufacturer’s stock valued at $716,000 after buying an additional 30 shares during the last quarter. Private Wealth Partners LLC boosted its stake in Broadcom by 0.7% during the third quarter. Private Wealth Partners LLC now owns 4,273 shares of the semiconductor manufacturer’s stock worth $1,410,000 after buying an additional 30 shares during the period. Finally, Planning Alternatives Ltd. ADV boosted its stake in Broadcom by 1.4% during the third quarter. Planning Alternatives Ltd. ADV now owns 2,168 shares of the semiconductor manufacturer’s stock worth $715,000 after buying an additional 30 shares during the period. Institutional investors and hedge funds own 76.43% of the company’s stock.
Insider Buying and Selling
In other Broadcom news, insider Charlie B. Kawwas sold 39,116 shares of the stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $321.61, for a total value of $12,580,096.76. Following the sale, the insider owned 74,626 shares of the company’s stock, valued at $24,000,467.86. This trade represents a 34.39% 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 Mark David Brazeal sold 50,488 shares of Broadcom 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 completion of the transaction, the insider owned 278,141 shares of the company’s stock, valued at $89,450,145.60. The trade was a 15.36% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 324,282 shares of company stock valued at $106,425,249. Company insiders own 1.90% of the company’s stock.
Key Broadcom News
- 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
Broadcom Price Performance
Shares of AVGO opened at $419.30 on Wednesday. Broadcom Inc. has a fifty-two week low of $221.60 and a fifty-two week high of $437.68. The firm’s 50 day moving average price is $358.98 and its 200 day moving average price is $353.01. The company has a market cap of $1.99 trillion, a P/E ratio of 81.89, a PEG ratio of 0.89 and a beta of 1.43. The company has a quick ratio of 1.73, a current ratio of 1.90 and a debt-to-equity ratio of 0.80.
Broadcom (NASDAQ:AVGO – Get Free Report) last issued its quarterly earnings results on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 EPS for the quarter, beating the consensus estimate of $2.03 by $0.02. The company had revenue of $19.31 billion during the quarter, compared to analysts’ expectations of $19.10 billion. Broadcom had a net margin of 36.57% and a return on equity of 38.61%. The firm’s revenue was up 29.5% compared to the same quarter last year. During the same quarter last year, the company posted $1.60 EPS. On average, research analysts forecast that Broadcom Inc. will post 9.95 earnings per share for the current fiscal year.
Broadcom Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Monday, March 23rd were issued a $0.65 dividend. The ex-dividend date was Monday, March 23rd. This represents a $2.60 dividend on an annualized basis and a yield of 0.6%. Broadcom’s dividend payout ratio (DPR) is 50.78%.
Analyst Ratings Changes
A number of research firms have recently issued reports on AVGO. Morgan Stanley boosted their price target on shares of Broadcom from $462.00 to $470.00 and gave the company an “overweight” rating in a research note on Friday, March 6th. Zacks Research raised shares of Broadcom from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 2nd. Truist Financial boosted their target price on Broadcom from $510.00 to $545.00 and gave the company a “buy” rating in a research report on Thursday, March 5th. Wolfe Research upgraded Broadcom from a “peer perform” rating to an “outperform” rating and set a $400.00 price target on the stock in a research note on Friday, January 30th. Finally, Benchmark restated a “buy” rating and set a $485.00 price target on shares of Broadcom in a research report on Thursday, March 5th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $436.13.
Get Our Latest Stock Report on AVGO
Broadcom Company 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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