Canada Post Corp Registered Pension Plan raised its holdings in Broadcom Inc. (NASDAQ:AVGO – Free Report) by 20.2% during the 4th quarter, Holdings Channel reports. The firm owned 152,235 shares of the semiconductor manufacturer’s stock after purchasing an additional 25,590 shares during the quarter. Broadcom comprises 2.0% of Canada Post Corp Registered Pension Plan’s investment portfolio, making the stock its 10th biggest holding. Canada Post Corp Registered Pension Plan’s holdings in Broadcom were worth $52,689,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds also recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in shares of Broadcom by 0.8% in 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 purchasing an additional 3,919,715 shares in the last quarter. Invesco Ltd. increased 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 worth $12,915,861,000 after buying an additional 700,021 shares in the last quarter. Legal & General Group Plc increased 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 worth $11,035,749,000 after buying an additional 748,709 shares in the last quarter. Franklin Resources Inc. increased its position in Broadcom by 4.0% during the third quarter. Franklin Resources Inc. now owns 29,511,195 shares of the semiconductor manufacturer’s stock worth $9,736,038,000 after buying an additional 1,124,590 shares in the last quarter. Finally, Amundi increased its position in Broadcom by 3.3% during the third quarter. Amundi now owns 22,216,816 shares of the semiconductor manufacturer’s stock worth $7,453,320,000 after buying an additional 716,523 shares in the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.
Broadcom News Summary
Here are the key news stories impacting Broadcom this week:
- Positive Sentiment: Broadcom renewed and expanded ties with the London Stock Exchange Group, adding another sign of demand for its VMware and cloud infrastructure offerings. The company also reiterated momentum in its custom AI chip business, with an internal target of $100 billion in AI-chip revenue by 2027. Broadcom Deepens LSEG Ties While Targeting US$100b In Custom AI Chips
- Positive Sentiment: Applied Materials named Broadcom as an EPIC Innovation Partner, highlighting collaboration on advanced packaging technologies for next-generation AI chips and systems. That supports the view that Broadcom remains central to the AI hardware buildout. Applied Materials Announces Broadcom as EPIC Innovation Partner
- Positive Sentiment: Analysts reportedly raised price targets on Broadcom, reinforcing optimism around AI-related growth and helping offset the recent tech-sector pullback. Analysts raise Broadcom stock price target
- Positive Sentiment: Multiple recent articles argued Broadcom remains a strong growth and long-term investment idea, citing its solid fundamentals and durable AI exposure. Is Broadcom (AVGO) One of the Best Long Term US Stocks to Buy Right Now?
- Neutral Sentiment: Some commentary suggested Broadcom is becoming “overcrowded,” implying investor enthusiasm may already be very high and the stock could be vulnerable to volatility after its recent gains. Broadcom Is Far Too Overcrowded
- Neutral Sentiment: Other pieces discussed Broadcom’s valuation and the broader tech selloff, which may be contributing to near-term pressure despite the company’s strong AI narrative. What’s going on with Broadcom stock Thursday?
Insider Buying and Selling at Broadcom
Broadcom Price Performance
Broadcom stock opened at $414.57 on Friday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.73 and a current ratio of 1.90. The company has a market cap of $1.96 trillion, a price-to-earnings ratio of 80.97, a PEG ratio of 0.86 and a beta of 1.43. The firm has a 50 day moving average price of $371.85 and a 200 day moving average price of $355.68. Broadcom Inc. has a 1 year low of $226.18 and a 1 year high of $442.36.
Broadcom (NASDAQ:AVGO – Get Free Report) last issued its earnings results on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 earnings per share for the quarter, topping the consensus estimate of $2.03 by $0.02. The business had revenue of $19.31 billion for the quarter, compared to analyst estimates of $19.10 billion. Broadcom had a return on equity of 38.61% and a net margin of 36.57%.The business’s quarterly revenue was up 29.5% on a year-over-year basis. During the same period last year, the company posted $1.60 EPS. Sell-side analysts predict that Broadcom Inc. will post 9.97 earnings per share for the current year.
Broadcom Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Monday, March 23rd were given a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend was Monday, March 23rd. Broadcom’s dividend payout ratio (DPR) is 50.78%.
Analyst Ratings Changes
Several equities analysts have weighed in on the company. Mizuho reissued an “outperform” rating and set a $480.00 price target on shares of Broadcom in a research report on Thursday, April 16th. Wolfe Research raised Broadcom from a “peer perform” rating to an “outperform” rating and set a $400.00 price target for the company in a research report on Friday, January 30th. DA Davidson upgraded shares of Broadcom to a “hold” rating in a report on Friday, February 13th. Truist Financial upped their target price on shares of Broadcom from $510.00 to $545.00 and gave the company a “buy” rating in a report on Thursday, March 5th. Finally, Wells Fargo & Company restated an “overweight” rating and issued a $545.00 target price (up from $430.00) on shares of Broadcom in a report on Thursday, May 14th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, Broadcom has an average rating of “Moderate Buy” and an average target price of $448.10.
View 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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