Broadcom Inc. $AVGO is AEGON ASSET MANAGEMENT UK Plc's 4th Largest Position

Key Points

• AEGON ASSET MANAGEMENT UK Plc trimmed its Broadcom stake by 0.4% in the first quarter but still held 1,230,382 shares worth about $379.1 million. Broadcom remained its 4th largest position, accounting for 5.0% of the portfolio.
• Broadcom reported strong quarterly results, with EPS of $2.44 beating estimates and revenue of $22.19 billion, up 47.9% year over year. The company also said analysts expect $10.24 EPS for the current fiscal year.
• The company recently announced a quarterly dividend of $0.65 per share and continues to draw bullish analyst attention, with a consensus rating of Moderate Buy and a target price around $490.13. Shares were down about 4.7% in Tuesday trading despite the positive longer-term outlook.

AEGON ASSET MANAGEMENT UK Plc cut its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 0.4% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,230,382 shares of the semiconductor manufacturer's stock after selling 4,392 shares during the period. Broadcom comprises 5.0% of AEGON ASSET MANAGEMENT UK Plc's portfolio, making the stock its 4th biggest position. AEGON ASSET MANAGEMENT UK Plc's holdings in Broadcom were worth $379,055,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. Norges Bank bought a new position in shares of Broadcom during the fourth quarter valued at approximately $24,252,196,000. Cardano Risk Management B.V. boosted its position in Broadcom by 895.2% during the 4th 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 increased its holdings in shares of Broadcom by 2.7% in the 4th 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 during the period. Arrowstreet Capital Limited Partnership raised its position in shares of Broadcom by 499.4% in 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 in the last quarter. Finally, Vanguard Group Inc. raised its position in shares of Broadcom by 0.8% in 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 in the last quarter. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Broadcom Stock Down 4.7%

Shares of AVGO stock opened at $392.13 on Tuesday. Broadcom Inc. has a 1-year low of $246.46 and a 1-year high of $495.00. The stock's fifty day moving average price is $412.17 and its 200 day moving average price is $363.42. 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 company has a market cap of $1.87 trillion, a price-to-earnings ratio of 65.36, a price-to-earnings-growth ratio of 0.72 and a beta of 1.41.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.40 by $0.04. The company had revenue of $22.19 billion for the quarter, compared to analyst estimates of $22.13 billion. Broadcom had a return on equity of 41.61% and a net margin of 38.85%.The firm's quarterly revenue was up 47.9% compared to the same quarter last year. During the same period in the prior year, the company posted $1.58 EPS. On average, research analysts expect that Broadcom Inc. will post 10.24 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 22nd will be paid a dividend of $0.65 per share. The ex-dividend date is 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 presently 43.33%.

Insiders Place Their Bets

In other news, Director Harry L. You bought 1,000 shares of the business's stock in a transaction that occurred on Thursday, June 11th. The shares were purchased at an average cost of $373.57 per share, with a total value of $373,570.00. Following the transaction, the director directly owned 38,466 shares in the company, valued at approximately $14,369,743.62. The trade was a 2.67% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Mark David Brazeal sold 4,825 shares of the firm's 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 completion of the transaction, the insider owned 269,989 shares of the company's stock, valued at $106,621,355.99. This trade represents a 1.76% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 59,385 shares of company stock valued at $21,301,057. Corporate insiders own 1.90% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Benchmark raised their price objective on Broadcom from $485.00 to $545.00 and gave the company a "buy" rating in a research report on Thursday, June 4th. Seaport Research Partners reiterated a "neutral" rating on shares of Broadcom in a report on Wednesday, April 8th. Wall Street Zen lowered shares of Broadcom from a "strong-buy" rating to a "buy" rating in a research report on Tuesday. Truist Financial raised their price target on shares of Broadcom from $545.00 to $550.00 and gave the company a "buy" rating in a report on Thursday, June 4th. Finally, Susquehanna reaffirmed a "positive" rating and issued a $490.00 price objective (up from $450.00) on shares of Broadcom in a research report on Thursday, May 28th. One investment 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 company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $490.13.

Key Stories Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Analysts and market commentators are pointing to Broadcom’s strong AI demand as the main reason to stay bullish. Recent coverage highlighted record semiconductor sales, AI chip and networking demand, and strong customer commitments as evidence that the company’s AI growth story remains intact. Broadcom's AI Push Boosts Semiconductor Sales: More Upside Ahead?
• Positive Sentiment: JPMorgan reportedly reiterated buy-the-dip optimism, citing Broadcom’s multi-year Google partnership, record quarterly revenue of $22.19 billion, and AI semiconductor sales of $10.8 billion, up 143% year over year. The note also pointed to expectations for another step-up in AI-chip growth next quarter. Broadcom's AI boom — Google deal and huge revenue growth spark buy-the-dip calls
• Positive Sentiment: Several pieces argue that the market is overreacting to a modest AI revenue guide and that the selloff has created an accumulation opportunity. They emphasize that Broadcom’s revenue, semiconductor growth, AI bookings, and backlog are all at record levels, which supports the longer-term investment case. The Grandest Castle Ever Floated (and the Stocks to Profit From It)
• Positive Sentiment: Broadcom is also attracting broader investor attention and continued analyst support, including a consensus “Moderate Buy” rating, which may help stabilize sentiment after the recent decline. Broadcom Inc. NASDAQ: AVGO Receives Consensus Recommendation of "Moderate Buy" from Analysts

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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