Palladiem LLC bought a new stake in shares of Broadcom Inc. (NASDAQ:AVGO – Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 1,506 shares of the semiconductor manufacturer’s stock, valued at approximately $527,000. Broadcom comprises about 0.5% of Palladiem LLC’s investment portfolio, making the stock its 24th largest holding.
A number of other large investors also recently added to or reduced their stakes in 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 buying an additional 3,919,715 shares during the period. Geode Capital Management LLC lifted its stake in shares of Broadcom by 1.4% in the 4th 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 purchased a new stake in Broadcom during the 4th quarter valued at about $24,252,196,000. Invesco Ltd. grew its position in Broadcom by 1.8% during the 3rd quarter. Invesco Ltd. now owns 39,149,651 shares of the semiconductor manufacturer’s stock worth $12,915,861,000 after acquiring an additional 700,021 shares during the last quarter. Finally, Legal & General Group Plc increased its stake in Broadcom by 2.3% in the 3rd quarter. Legal & General Group Plc now owns 33,450,786 shares of the semiconductor manufacturer’s stock worth $11,035,749,000 after purchasing an additional 748,709 shares during the period. Hedge funds and other institutional investors own 76.43% of the company’s stock.
Broadcom Stock Down 5.1%
Shares of Broadcom stock opened at $372.10 on Thursday. 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 $243.80 and a 12-month high of $495.00. The company has a market cap of $1.76 trillion, a P/E ratio of 62.02, a PEG ratio of 0.71 and a beta of 1.41. The company’s fifty day simple moving average is $401.36 and its two-hundred day simple moving average is $362.87.
Broadcom Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 22nd will be issued a $0.65 dividend. The ex-dividend date is Monday, June 22nd. This represents a $2.60 annualized dividend and a yield of 0.7%. Broadcom’s dividend payout ratio (DPR) is 43.33%.
Wall Street Analysts Forecast Growth
AVGO has been the topic of several recent analyst reports. Seaport Research Partners restated a “neutral” rating on shares of Broadcom in a report on Wednesday, April 8th. Susquehanna reissued 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. Mizuho boosted their price objective on shares of Broadcom from $480.00 to $530.00 and gave the company an “outperform” rating in a research report on Thursday, June 4th. UBS Group set a $485.00 price objective on shares of Broadcom and gave the company a “buy” rating in a research note on Thursday, June 4th. Finally, Morgan Stanley set a $502.00 target price on shares of Broadcom and gave the stock an “overweight” rating in a report on Thursday, June 4th. One investment analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $490.13.
Get Our Latest Stock Analysis on Broadcom
Key Headlines Impacting Broadcom
Here are the key news stories impacting Broadcom this week:
- Positive Sentiment: Several analysts and commentators argue the pullback is overdone, pointing to Broadcom’s strong fundamentals: revenue growth of about 48%, AI semiconductor revenue up 143%, and more than $30 billion in AI bookings. Bullish pieces say the stock looks attractive on cash flow and long-term AI demand. Article Title
- Positive Sentiment: Broadcom also gained support from a major AI infrastructure tie-up with Apollo Global Management and Blackstone, which are backing a $35 billion capacity expansion for Anthropic using Broadcom’s custom chips and networking gear. That reinforces the company’s role in the AI buildout. Article Title
- Neutral Sentiment: Some analysts remain constructive on the stock over the long term, citing expected EPS growth of more than 50% over the next five years and multiple recent upgrades/price-target increases. Article Title
- Neutral Sentiment: Other coverage highlights a “buy the dip” case after the post-earnings reset, with investors watching whether AI demand and margins stay strong enough to justify the premium valuation. Article Title
- Negative Sentiment: The main headwind is that Broadcom’s stock has been hit by a broader chip rotation/correction, with semiconductor names sold off as investors take profits from the AI trade. Broadcom has been singled out as one of the biggest laggards in that move. Article Title
- Negative Sentiment: Investors are also worried that Broadcom’s premium valuation leaves little room for error after its strong quarter, especially as guidance for AI revenue was viewed as less aggressive than hoped. Article Title
- Negative Sentiment: New commentary from Broadcom’s CEO that the company will focus only on chips, not a broader AI platform strategy, appears to have unnerved some AI-focused investors and added to the selloff. Article Title
Insiders Place Their Bets
In other Broadcom news, insider Mark David Brazeal sold 50,488 shares of Broadcom stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $321.60, for a total transaction of $16,236,940.80. Following the sale, the insider directly owned 278,141 shares of the company’s stock, valued at approximately $89,450,145.60. The trade was a 15.36% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Justine Page sold 2,018 shares of the company’s stock in a transaction that occurred on Wednesday, April 8th. The stock was sold at an average price of $353.00, for a total value of $712,354.00. Following the transaction, the director owned 18,164 shares in the company, valued at $6,411,892. This trade represents a 10.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 324,282 shares of company stock valued at $106,425,249 over the last ninety days. 1.90% of the stock is owned by corporate insiders.
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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