Knollwood Investment Advisory LLC grew its position in Broadcom Inc. (NASDAQ:AVGO – Free Report) by 15.4% during the 4th quarter, Holdings Channel reports. The fund owned 40,883 shares of the semiconductor manufacturer’s stock after buying an additional 5,452 shares during the quarter. Broadcom comprises about 1.3% of Knollwood Investment Advisory LLC’s holdings, making the stock its 14th biggest position. Knollwood Investment Advisory LLC’s holdings in Broadcom were worth $14,150,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in AVGO. Norges Bank purchased a new stake in shares of Broadcom in the fourth quarter valued at about $24,252,196,000. Cardano Risk Management B.V. boosted its holdings in shares of Broadcom by 895.2% in the fourth quarter. Cardano Risk Management B.V. now owns 12,689,800 shares of the semiconductor manufacturer’s stock valued at $4,391,940,000 after acquiring an additional 11,414,701 shares in the last quarter. State Street Corp boosted its holdings in shares of Broadcom by 2.7% in the fourth quarter. State Street Corp now owns 190,084,351 shares of the semiconductor manufacturer’s stock valued at $65,788,194,000 after acquiring an additional 5,040,801 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Broadcom by 499.4% in the third quarter. Arrowstreet Capital Limited Partnership now owns 5,634,232 shares of the semiconductor manufacturer’s stock valued at $1,858,789,000 after acquiring an additional 4,694,313 shares in the last quarter. Finally, Vanguard Group Inc. boosted 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 acquiring an additional 3,919,715 shares in the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.
Broadcom Price Performance
Shares of NASDAQ AVGO opened at $382.07 on Monday. Broadcom Inc. has a 12-month low of $244.17 and a 12-month high of $495.00. The company has a market capitalization of $1.82 trillion, a PE ratio of 63.68, a price-to-earnings-growth ratio of 0.67 and a beta of 1.41. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.24 and a quick ratio of 2.01. The firm’s 50-day moving average is $404.26 and its two-hundred day moving average is $363.22.
Broadcom Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 22nd will be paid a dividend of $0.65 per share. The ex-dividend date of this dividend is Monday, June 22nd. This represents a $2.60 annualized dividend and a dividend yield of 0.7%. Broadcom’s dividend payout ratio is presently 43.33%.
Wall Street Analyst Weigh In
Several brokerages have recently weighed in on AVGO. Royal Bank Of Canada lifted their target price on shares of Broadcom from $360.00 to $400.00 and gave the company a “sector perform” rating in a report on Thursday, June 4th. JPMorgan Chase & Co. boosted their price objective on shares of Broadcom from $500.00 to $580.00 and gave the stock an “overweight” rating in a report on Thursday, June 4th. Oppenheimer restated an “outperform” rating and set a $535.00 target price (up from $450.00) on shares of Broadcom in a research report on Thursday, June 4th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $500.00 target price on shares of Broadcom in a report on Thursday, June 4th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $525.00 price target on shares of Broadcom in a research report on Thursday, June 4th. One analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $490.13.
Read Our Latest Report on AVGO
Trending Headlines about Broadcom
Here are the key news stories impacting Broadcom this week:
- Positive Sentiment: Broadcom’s quarterly results were very strong, with revenue up 48% to a record $22.2 billion, semiconductor revenue up 79%, AI semiconductor revenue up 143% to $10.8 billion, and more than $30 billion in AI bookings, suggesting demand remains robust. Article Title
- Positive Sentiment: Several analysts and commentators argue the recent drop could be a buying opportunity, saying Broadcom remains a core infrastructure winner in AI and that Wall Street’s long-term outlook is still constructive. Article Title
- Positive Sentiment: Fresh coverage highlighted Broadcom as one of the stocks with catalysts heading into the second half of the year, and some analysts have raised earnings forecasts and price targets despite the selloff. Article Title
- Neutral Sentiment: Jim Cramer said Broadcom’s earnings were “not good” and suggested tech stocks are harder to trust as leadership names, reflecting a more cautious market mood around the stock. Article Title
- Neutral Sentiment: Broadcom also announced cash tender offers for certain outstanding debt securities, a routine balance-sheet move that is unlikely to move the stock by itself. Article Title
- Negative Sentiment: Market commentary says the stock is being punished because investors are nitpicking Broadcom’s AI outlook and pricing the shares as if growth must keep accelerating without any hiccups. Article Title
- Negative Sentiment: One note warned that Broadcom told investors to expect gross profit margins to continue falling, reinforcing concerns that profitability may soften even as revenue grows. Article Title
Insider Buying and Selling at Broadcom
In related news, insider Charlie B. Kawwas sold 39,116 shares of the company’s stock in a transaction that occurred on 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 transaction, the insider owned 74,626 shares of the company’s stock, valued at approximately $24,000,467.86. This represents a 34.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Kirsten M. Spears sold 36,292 shares of the company’s stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $321.60, for a total transaction of $11,671,507.20. Following the transaction, the chief financial officer directly owned 327,760 shares in the company, valued at $105,407,616. The trade was a 9.97% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 215,970 shares of company stock valued at $71,104,945. 1.90% of the stock is owned by corporate insiders.
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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