158,311 Shares in Broadcom Inc. $AVGO Acquired by North Dakota State Investment Board

Key Points

• North Dakota State Investment Board opened a new Broadcom position in the fourth quarter, buying 158,311 shares valued at about $54.8 million. The stake now makes Broadcom its 8th-largest holding.
• Wall Street remains broadly constructive on Broadcom, with several analysts reiterating buy ratings and raising price targets, including TD Cowen at $500 and UBS at $490. The stock currently carries a consensus rating of Moderate Buy with an average target of $448.10.
• Broadcom’s latest results and outlook highlight continued strength, as quarterly revenue rose 29.5% year over year and EPS beat estimates. The company’s AI semiconductor business is also described as growing rapidly, with AI revenue more than doubling.

North Dakota State Investment Board bought a new position in Broadcom Inc. (NASDAQ:AVGO - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 158,311 shares of the semiconductor manufacturer's stock, valued at approximately $54,791,000. Broadcom comprises approximately 2.0% of North Dakota State Investment Board's holdings, making the stock its 8th biggest holding.

A number of other hedge funds also recently bought and sold shares of the company. Brighton Jones LLC lifted its position in Broadcom by 21.8% in the fourth quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer's stock valued at $6,882,000 after purchasing an additional 5,322 shares during the last quarter. Revolve Wealth Partners LLC lifted its position in Broadcom by 10.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 7,997 shares of the semiconductor manufacturer's stock valued at $1,854,000 after purchasing an additional 756 shares during the last quarter. United Bank lifted its position in Broadcom by 76.5% in the first quarter. United Bank now owns 2,339 shares of the semiconductor manufacturer's stock valued at $392,000 after purchasing an additional 1,014 shares during the last quarter. Sivia Capital Partners LLC lifted its position in Broadcom by 10.1% in the second quarter. Sivia Capital Partners LLC now owns 12,693 shares of the semiconductor manufacturer's stock valued at $3,499,000 after purchasing an additional 1,160 shares during the last quarter. Finally, Capital & Planning LLC lifted its position in Broadcom by 10.5% in the second quarter. Capital & Planning LLC now owns 3,983 shares of the semiconductor manufacturer's stock valued at $1,098,000 after purchasing an additional 378 shares during the last quarter. Institutional investors own 76.43% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. UBS Group reiterated a "buy" rating and issued a $490.00 price objective (up from $475.00) on shares of Broadcom in a research report on Monday. Morgan Stanley boosted their price objective on Broadcom from $462.00 to $470.00 and gave the company an "overweight" rating in a research report on Friday, March 6th. Weiss Ratings downgraded Broadcom from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Friday, April 24th. Benchmark reiterated a "buy" rating and issued a $485.00 price objective on shares of Broadcom in a research report on Thursday, March 5th. Finally, TD Cowen reiterated a "buy" rating and issued a $500.00 price objective (up from $405.00) on shares of Broadcom in a research report on Friday, May 15th. Two analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat, Broadcom presently has a consensus rating of "Moderate Buy" and an average price target of $448.10.

Broadcom News Summary

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom’s AI semiconductor business is showing rapid growth, with AI revenue more than doubling and stronger Q2 expectations tied to hyperscale demand. Broadcom Rides on Accelerating Semiconductor Revenues: What's Ahead?
• Positive Sentiment: Analysts continue to highlight Broadcom as one of Goldman Sachs’ strongest AI infrastructure bets, reinforcing optimism around its role in AI chips and networking. Why Broadcom (AVGO) Remains One of Goldman’s Strongest AI Infrastructure Bets
• Positive Sentiment: Broadcom is expanding its AI ecosystem through a $125 million research and talent hub with Meta and UCLA, plus packaging work with Applied Materials, which could support long-term growth. Broadcom’s AI Research Push Links Chip Packaging Advances To Growth Story
• Positive Sentiment: Several articles and analyst notes point to strong long-term upside, with Broadcom repeatedly described as a durable AI winner and a solid growth stock. Is Broadcom Inc. (AVGO) a Solid Growth Stock? 3 Reasons to Think "Yes"
• Neutral Sentiment: Commentary about Broadcom’s stock price in 2030 reflects bullish long-term AI expectations, but it does not appear to be a near-term catalyst. This Will be Broadcom’s Stock Price In 2030
• Neutral Sentiment: Broader market commentary and inflation worries have also been mentioned, but these articles do not identify a Broadcom-specific problem. Inflation Fears Weighed on Broadcom (AVGO) in Q1
• Negative Sentiment: One recent note says Broadcom remains “overcrowded,” suggesting valuation or positioning risk after a strong rally. Broadcom Is Far Too Overcrowded
• Negative Sentiment: Broadcom has also faced some regulatory scrutiny in the EU, which could create headline risk even as AI sentiment stays positive. Broadcom Inc. (AVGO) Challenges EU Regulators While Barclays Sees AI Upside

Insiders Place Their Bets

In related news, insider Charlie B. Kawwas sold 39,116 shares of the company's stock in a transaction on 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 directly owned 74,626 shares of the company's stock, valued at $24,000,467.86. This represents a 34.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Kirsten M. Spears sold 36,292 shares of the company's stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $321.60, for a total value of $11,671,507.20. Following the completion of the sale, the chief financial officer directly owned 327,760 shares in the company, valued at approximately $105,407,616. The trade was a 9.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 324,282 shares of company stock worth $106,425,249 in the last ninety days. Insiders own 1.90% of the company's stock.

Broadcom Price Performance

Shares of Broadcom stock opened at $414.14 on Friday. The company has a quick ratio of 1.73, a current ratio of 1.90 and a debt-to-equity ratio of 0.80. The company has a market cap of $1.96 trillion, a PE ratio of 80.89, a P/E/G ratio of 0.86 and a beta of 1.43. The business has a 50 day moving average of $373.30 and a 200 day moving average of $356.09. Broadcom Inc. has a 52 week low of $226.18 and a 52 week high of $442.36.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its earnings results on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 EPS for the quarter, beating analysts' consensus estimates of $2.03 by $0.02. The company had revenue of $19.31 billion during the quarter, compared to the consensus estimate of $19.10 billion. Broadcom had a return on equity of 38.61% and a net margin of 36.57%.The firm's revenue for the quarter was up 29.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.60 earnings per share. As a group, equities research analysts forecast that Broadcom Inc. will post 9.91 earnings per share for the current year.

Broadcom Announces Dividend

The firm also recently announced 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. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date was Monday, March 23rd. Broadcom's dividend payout ratio is currently 50.78%.

About Broadcom

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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