Border to Coast Pensions Partnership Ltd Has $143.61 Million Stake in Broadcom Inc. $AVGO

Key Points

• Border to Coast Pensions Partnership Ltd reduced its Broadcom stake by 14.1% in the first quarter, but still held 462,579 shares worth about $143.6 million. Broadcom remained its 8th-largest holding and made up 2.4% of the portfolio.
• Broadcom beat quarterly expectations, reporting earnings of $2.44 per share on revenue of $22.19 billion, with revenue up 47.9% year over year. Analysts still expect strong full-year earnings, forecasting 10.24 EPS for the current year.
• Wall Street remains constructive on the stock, with multiple firms raising or reiterating bullish price targets, including JPMorgan at $580 and Jefferies at $550. Broadcom also paid a quarterly dividend of $0.65 per share, implying a 0.7% annual yield.

Border to Coast Pensions Partnership Ltd cut its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 14.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 462,579 shares of the semiconductor manufacturer's stock after selling 75,914 shares during the period. Broadcom accounts for 2.4% of Border to Coast Pensions Partnership Ltd's portfolio, making the stock its 8th largest holding. Border to Coast Pensions Partnership Ltd's holdings in Broadcom were worth $143,611,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Norges Bank acquired a new position in Broadcom during the fourth quarter worth approximately $24,252,196,000. Cardano Risk Management B.V. lifted its position 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 buying an additional 11,414,701 shares during the last quarter. State Street Corp boosted its stake in shares of Broadcom by 2.7% during the 4th quarter. State Street Corp now owns 190,084,351 shares of the semiconductor manufacturer's stock worth $65,788,194,000 after acquiring an additional 5,040,801 shares during the period. Arrowstreet Capital Limited Partnership boosted its stake in shares of Broadcom by 499.4% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 5,634,232 shares of the semiconductor manufacturer's stock worth $1,858,789,000 after acquiring an additional 4,694,313 shares during the period. Finally, Vanguard Group Inc. increased its holdings in shares of Broadcom by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 482,707,302 shares of the semiconductor manufacturer's stock worth $167,064,997,000 after acquiring an additional 3,919,715 shares during the last quarter. 76.43% of the stock is owned by institutional investors.

Broadcom Trading Up 1.4%

Shares of Broadcom stock opened at $377.75 on Wednesday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.01 and a current ratio of 2.24. The firm has a 50-day moving average of $410.61 and a 200-day moving average of $362.60. Broadcom Inc. has a 52-week low of $262.66 and a 52-week high of $495.00. The stock has a market cap of $1.80 trillion, a PE ratio of 62.96, a PEG ratio of 0.65 and a beta of 1.41.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its quarterly earnings data on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share for the quarter, topping the consensus estimate of $2.40 by $0.04. The business had revenue of $22.19 billion during the quarter, compared to analysts' expectations of $22.13 billion. Broadcom had a net margin of 38.85% and a return on equity of 41.61%. The business's revenue was up 47.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.58 EPS. As a group, sell-side analysts forecast that Broadcom Inc. will post 10.24 EPS for the current year.

Broadcom Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 22nd were given a dividend of $0.65 per share. The ex-dividend date of this dividend was Monday, June 22nd. This represents a $2.60 dividend on an annualized basis and a yield of 0.7%. Broadcom's dividend payout ratio is currently 43.33%.

Analyst Ratings Changes

A number of research firms recently weighed in on AVGO. UBS Group set a $485.00 price target on Broadcom and gave the company a "buy" rating in a research note on Thursday, June 4th. Royal Bank Of Canada upped their price objective 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. Cantor Fitzgerald reissued an "overweight" rating and issued a $525.00 price objective on shares of Broadcom in a research report on Thursday, June 4th. Dbs Bank upgraded shares of Broadcom to a "moderate buy" rating in a research note on Thursday, June 18th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Broadcom from $500.00 to $580.00 and gave the stock an "overweight" rating in a report on Thursday, June 4th. One analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, Broadcom currently has an average rating of "Moderate Buy" and a consensus price target of $493.24.

Key Stories Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Jefferies reiterated its Buy rating on Broadcom and kept a $550 price target, suggesting substantial upside from current levels. Analyst updates Broadcom (AVGO) stock price target
• Positive Sentiment: Erste Group raised its earnings estimates for Broadcom, including higher FY2026 and FY2027 EPS forecasts, reinforcing the view that earnings growth remains strong. Broadcom estimate update
• Positive Sentiment: Coverage around Broadcom’s partnership with OpenAI on the Jalapeño AI accelerator continues to support the company’s AI growth story and long-term demand outlook. What Broadcom (AVGO)'s Jalapeño AI Accelerator Partnership With OpenAI Means For Shareholders
• Neutral Sentiment: Several articles highlighted Broadcom’s recent weakness and “buy the dip” debate, indicating that investor sentiment is cautious but not turning bearish on fundamentals. Broadcom's Stock Has Slumped Over 20% From Its Highs. These Experts Say They Would Buy the Dip
• Negative Sentiment: Reports of heavy insider selling over the past two weeks may weigh on sentiment, as investors often view large insider sales as a cautionary signal. Monster insider trading alert for Broadcom (AVGO) stock

Insider Transactions at Broadcom

In other news, 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 completion of the sale, the insider directly owned 787,184 shares in the company, valued at approximately $271,759,532.32. This represents a 1.25% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Mark David Brazeal sold 4,825 shares of the stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $394.91, for a total value of $1,905,440.75. Following the sale, the insider directly owned 269,989 shares in the company, valued at approximately $106,621,355.99. This trade represents a 1.76% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 59,385 shares of company stock worth $21,301,057. 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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