8,829 Shares in Broadcom Inc. $AVGO Bought by Legacy Edge Advisors LLC

Key Points

• Legacy Edge Advisors LLC initiated a new position in Broadcom, buying 8,829 shares valued at about $3.06 million in the fourth quarter.
• Broadcom is facing pressure after reports that OpenAI’s planned $18 billion custom chip deal hit a financing snag, raising uncertainty around a key AI growth driver.
• The company recently beat quarterly expectations, reporting $2.05 EPS on $19.31 billion in revenue, while analysts remain broadly positive with a consensus rating of Moderate Buy and a price target of $435.30.

Legacy Edge Advisors LLC bought a new position in Broadcom Inc. (NASDAQ:AVGO - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm bought 8,829 shares of the semiconductor manufacturer's stock, valued at approximately $3,056,000.

Several other large investors have also bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in Broadcom by 0.8% during the 4th 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. Invesco Ltd. lifted its stake in Broadcom by 1.8% during the 3rd quarter. Invesco Ltd. now owns 39,149,651 shares of the semiconductor manufacturer's stock valued at $12,915,861,000 after acquiring an additional 700,021 shares in the last quarter. Legal & General Group Plc lifted its stake in Broadcom by 2.3% during the 3rd quarter. Legal & General Group Plc now owns 33,450,786 shares of the semiconductor manufacturer's stock valued at $11,035,749,000 after acquiring an additional 748,709 shares in the last quarter. Franklin Resources Inc. lifted its stake in Broadcom by 4.0% during the 3rd quarter. Franklin Resources Inc. now owns 29,511,195 shares of the semiconductor manufacturer's stock valued at $9,736,038,000 after acquiring an additional 1,124,590 shares in the last quarter. Finally, Amundi lifted its stake in Broadcom by 3.3% during the 3rd quarter. Amundi now owns 22,216,816 shares of the semiconductor manufacturer's stock valued at $7,453,320,000 after acquiring an additional 716,523 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors.

Broadcom News Summary

Here are the key news stories impacting Broadcom this week:

• Negative Sentiment: Broadcom shares are under pressure after reports said OpenAI’s planned $18 billion custom chip deal with the company hit a financing roadblock, creating uncertainty around a key AI revenue driver. Broadcom shares slump as OpenAI’s $18B custom chip deal hits financing snag
• Negative Sentiment: Another report framed the OpenAI issue as a major setback for Broadcom’s custom AI chip ambitions, adding concern that one of its flagship customer relationships may not be as immediately monetizable as investors hoped. Broadcom's OpenAI mega AI deal hits $18 billion wall
• Neutral Sentiment: Broadcom also announced VMware by Broadcom VCF 9.1, a product update aimed at accelerating production AI workloads in private clouds, which supports the company’s long-term enterprise AI strategy. Broadcom (AVGO) Launches VCF 9.1 to Accelerate Production AI in Private Clouds
• Neutral Sentiment: Several commentary pieces remained constructive on Broadcom’s position in the AI infrastructure stack, noting that recent hyperscaler results still support demand for chips and networking tied to AI buildouts. Big Tech earnings support Broadcom’s outlook
• Neutral Sentiment: Broadcom was also mentioned in a public-sector VMware partnership update, which could help broaden enterprise distribution but is not likely the main driver of the stock today. evoila U.S. and Carahsoft Partner to Deliver VMware by Broadcom Services to the Public Sector

Insider Buying and Selling

In related news, insider Charlie B. Kawwas sold 10,000 shares of Broadcom stock in a transaction dated Wednesday, April 8th. The stock was sold at an average price of $345.23, for a total value of $3,452,300.00. Following the completion of the sale, the insider owned 787,184 shares of the company's stock, valued at approximately $271,759,532.32. This trade represents a 1.25% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Mark David Brazeal sold 50,488 shares of Broadcom stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $321.60, for a total value of $16,236,940.80. Following the completion of the sale, the insider directly owned 278,141 shares of the company's stock, valued at approximately $89,450,145.60. This trade represents a 15.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 324,282 shares of company stock worth $106,425,249 in the last quarter. 1.90% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on AVGO shares. Mizuho restated an "outperform" rating and set a $480.00 price objective on shares of Broadcom in a research note on Thursday, April 16th. DA Davidson upgraded Broadcom to a "hold" rating in a research note on Friday, February 13th. Benchmark restated a "buy" rating and set a $485.00 price objective on shares of Broadcom in a research note on Thursday, March 5th. JPMorgan Chase & Co. raised their price objective on Broadcom from $475.00 to $500.00 and gave the company an "overweight" rating in a research note on Thursday, March 5th. Finally, Bank of America lowered their target price on Broadcom from $500.00 to $450.00 and set a "buy" rating on the stock in a research note on Thursday, March 5th. Two research analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $435.30.

Broadcom Trading Up 4.2%

NASDAQ AVGO opened at $430.00 on Friday. The stock has a market capitalization of $2.04 trillion, a price-to-earnings ratio of 83.98, a PEG ratio of 0.89 and a beta of 1.43. Broadcom Inc. has a one year low of $206.52 and a one year high of $437.68. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.90 and a quick ratio of 1.73. The business's fifty day moving average is $352.89 and its 200-day moving average is $351.28.

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

Broadcom Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Monday, March 23rd were issued a $0.65 dividend. The ex-dividend date of this dividend was Monday, March 23rd. This represents a $2.60 annualized dividend and a yield of 0.6%. Broadcom's dividend payout ratio (DPR) is 50.78%.

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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