13,622 Shares in Broadcom Inc. $AVGO Purchased by Income Insurance Ltd

Key Points

• Income Insurance Ltd opened a new position in Broadcom during the fourth quarter, buying 13,622 shares valued at about $4.7 million. The stake represents roughly 3.1% of its portfolio and Broadcom is now its 7th-largest holding.
• Broadcom reported better-than-expected quarterly results, with EPS of $2.05 versus $2.03 expected and revenue of $19.31 billion versus $19.10 billion expected. Revenue climbed 29.5% year over year, and analysts now expect 9.95 EPS for the full year.
• The stock continues to draw strong attention from institutions and analysts: 76.43% of shares are institutionally owned, and several firms recently raised price targets, including Citigroup to $500 and Wells Fargo to $545. Broadcom also paid a quarterly dividend of $0.65 per share.

Income Insurance Ltd purchased a new position in Broadcom Inc. (NASDAQ:AVGO - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 13,622 shares of the semiconductor manufacturer's stock, valued at approximately $4,715,000. Broadcom makes up about 3.1% of Income Insurance Ltd's holdings, making the stock its 7th largest position.

Other institutional investors also recently bought and sold shares of the company. Baring Financial LLC grew its position in 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 last quarter. Five Oceans Advisors grew its position in Broadcom by 0.4% during the 4th quarter. Five Oceans Advisors now owns 8,191 shares of the semiconductor manufacturer's stock worth $2,835,000 after purchasing an additional 29 shares during the last quarter. Jackson Hole Capital Partners LLC grew its position in Broadcom by 1.4% during the 3rd quarter. Jackson Hole Capital Partners LLC now owns 2,170 shares of the semiconductor manufacturer's stock worth $716,000 after purchasing an additional 30 shares during the last quarter. Private Wealth Partners LLC grew its position in Broadcom by 0.7% during the 3rd quarter. Private Wealth Partners LLC now owns 4,273 shares of the semiconductor manufacturer's stock worth $1,410,000 after purchasing an additional 30 shares during the last quarter. Finally, Planning Alternatives Ltd. ADV grew its position in Broadcom by 1.4% during the 3rd quarter. Planning Alternatives Ltd. ADV now owns 2,168 shares of the semiconductor manufacturer's stock worth $715,000 after purchasing an additional 30 shares during the last quarter. 76.43% of the stock is owned by institutional investors.

Broadcom Stock Performance

Shares of NASDAQ AVGO opened at $425.19 on Friday. The company's fifty day moving average price is $365.61 and its 200 day moving average price is $354.62. Broadcom Inc. has a 1 year low of $221.60 and a 1 year high of $442.36. The company has a market capitalization of $2.01 trillion, a PE ratio of 83.05, a price-to-earnings-growth ratio of 0.88 and a beta of 1.43. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.73 and a current ratio of 1.90.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its quarterly earnings results on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.03 by $0.02. Broadcom had a net margin of 36.57% and a return on equity of 38.61%. The firm had revenue of $19.31 billion for the quarter, compared to the consensus estimate of $19.10 billion. During the same period in the prior year, the firm posted $1.60 earnings per share. The firm's quarterly revenue was up 29.5% compared to the same quarter last year. On average, research analysts predict that Broadcom Inc. will post 9.95 earnings per share for the current year.

Broadcom Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Monday, March 23rd were issued a dividend of $0.65 per share. The ex-dividend date of this dividend 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 is 50.78%.

Broadcom News Roundup

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom remains a favored way to play AI infrastructure, with multiple recent articles highlighting its growing exposure to custom AI silicon, data-center networking, and AI semiconductor revenue. Citi also raised its price target to $500, reinforcing optimism ahead of the next earnings report.
• Positive Sentiment: Wells Fargo lifted its price target to $545 and said AI semiconductor revenue is running 30% to 40% above expectations, suggesting Broadcom may still be benefiting from stronger-than-expected hyperscaler spending.
• Positive Sentiment: Recent investor interest has also been supportive, with hedge fund and prominent manager buying cited in several notes, alongside Broadcom being named among top tech stocks to own as AI optimism continues to drive the market.
• Neutral Sentiment: Broadcom was also mentioned in a broader AI rotation piece that argues the next leg of the rally may be in AI bottlenecks such as optics, networking, and memory rather than only the most obvious chip winners. Broadcom was specifically named as one of the companies positioned to benefit from optical interconnect demand.
• Negative Sentiment: UBS warned that AI stocks, including Broadcom, are increasingly crowded trades, raising the risk of a pullback if enthusiasm cools or if investors rotate out of mega-cap semiconductors.
• Negative Sentiment: Some commentary also suggests the AI chip rally may be masking broader market weakness, which can make even strong names like Broadcom vulnerable to profit-taking after a powerful advance.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Erste Group Bank downgraded shares of Broadcom from a "buy" rating to a "hold" rating in a report on Thursday, April 2nd. Seaport Research Partners reaffirmed a "neutral" rating on shares of Broadcom in a report on Wednesday, April 8th. Citigroup reaffirmed a "buy" rating and issued a $500.00 price objective (up from $475.00) on shares of Broadcom in a report on Tuesday. Mizuho reaffirmed an "outperform" rating and issued a $480.00 price objective on shares of Broadcom in a report on Thursday, April 16th. Finally, DA Davidson raised shares of Broadcom to a "hold" rating in a report on Friday, February 13th. Two 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 stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $441.63.

Insider Activity

In related news, Director Justine Page sold 2,018 shares of the stock in a transaction on Wednesday, April 8th. The shares were sold at an average price of $353.00, for a total transaction of $712,354.00. Following the sale, the director directly owned 18,164 shares of the company's stock, valued at approximately $6,411,892. This represents a 10.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Charlie B. Kawwas sold 10,000 shares of the company's stock in a transaction on Wednesday, April 8th. The stock was sold at an average price of $345.23, for a total transaction of $3,452,300.00. Following the transaction, the insider owned 787,184 shares of the company's stock, valued at $271,759,532.32. This represents a 1.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 324,282 shares of company stock valued at $106,425,249 in the last three months. Corporate insiders own 1.90% of the company's stock.

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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