Broadcom Inc. $AVGO is Burr Financial Services LLC's 2nd Largest Position

Key Points

• Burr Financial Services LLC increased its Broadcom stake by 5.3% in the fourth quarter, making AVGO its 2nd largest holding at about 10.1% of its portfolio.
• Several major institutional investors also boosted their positions, and 76.43% of Broadcom’s shares are now owned by hedge funds and other institutions.
• Analyst sentiment remains mostly positive: Wells Fargo raised its price target to $545 and Broadcom currently has a consensus Moderate Buy rating with an average target of $439.97.

Burr Financial Services LLC lifted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 5.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 39,042 shares of the semiconductor manufacturer's stock after acquiring an additional 1,966 shares during the quarter. Broadcom accounts for about 10.1% of Burr Financial Services LLC's holdings, making the stock its 2nd largest position. Burr Financial Services LLC's holdings in Broadcom were worth $13,512,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of AVGO. Arrowstreet Capital Limited Partnership increased its position in shares of Broadcom by 499.4% during the third quarter. Arrowstreet Capital Limited Partnership now owns 5,634,232 shares of the semiconductor manufacturer's stock valued at $1,858,789,000 after acquiring an additional 4,694,313 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Broadcom by 0.8% during the fourth 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 during the last quarter. Nordea Investment Management AB increased its position in shares of Broadcom by 47.5% during the fourth quarter. Nordea Investment Management AB now owns 9,814,757 shares of the semiconductor manufacturer's stock valued at $3,406,211,000 after acquiring an additional 3,160,586 shares during the last quarter. Danske Bank A S purchased a new stake in shares of Broadcom during the third quarter valued at approximately $987,488,000. Finally, PFA Pension Forsikringsaktieselskab purchased a new stake in shares of Broadcom during the fourth quarter valued at approximately $924,858,000. 76.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently commented on AVGO. Wells Fargo & Company reaffirmed an "overweight" rating and set a $545.00 price target (up from $430.00) on shares of Broadcom in a research report on Thursday. Erste Group Bank downgraded Broadcom from a "buy" rating to a "hold" rating in a research report on Thursday, April 2nd. Morgan Stanley increased their price target on Broadcom from $462.00 to $470.00 and gave the company an "overweight" rating in a research report on Friday, March 6th. Royal Bank Of Canada decreased their price target on Broadcom from $370.00 to $340.00 and set a "sector perform" rating for the company in a research report on Monday, March 2nd. Finally, Benchmark reissued a "buy" rating and issued a $485.00 target price on shares of Broadcom in a research report on Thursday, March 5th. Two equities research 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.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $439.97.

Insider Activity

In other news, insider S. Ram Velaga sold 8,000 shares of Broadcom stock in a transaction on Friday, April 10th. The stock was sold at an average price of $370.52, for a total value of $2,964,160.00. Following the completion of the transaction, the insider directly owned 57,932 shares in the company, valued at approximately $21,464,964.64. The trade was a 12.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Charlie B. Kawwas sold 10,000 shares of Broadcom stock in a transaction on Wednesday, April 8th. The shares were sold at an average price of $345.23, for a total value of $3,452,300.00. Following the completion of the transaction, 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 ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 324,282 shares of company stock valued at $106,425,249. 1.90% of the stock is currently owned by corporate insiders.

Broadcom Stock Performance

NASDAQ:AVGO opened at $439.79 on Friday. 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 has a fifty day simple moving average of $363.46 and a two-hundred day simple moving average of $354.12. 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 $2.08 trillion, a P/E ratio of 85.90, a P/E/G ratio of 0.86 and a beta of 1.43.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its 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 return on equity of 38.61% and a net margin of 36.57%.The business had revenue of $19.31 billion during the quarter, compared to the consensus estimate of $19.10 billion. During the same period last year, the business posted $1.60 earnings per share. The business's revenue for the quarter was up 29.5% on a year-over-year basis. On average, analysts expect that Broadcom Inc. will post 9.95 earnings per share for the current year.

Broadcom Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Monday, March 23rd were given a dividend of $0.65 per share. The ex-dividend date was Monday, March 23rd. This represents a $2.60 annualized dividend and a dividend yield of 0.6%. Broadcom's dividend payout ratio is currently 50.78%.

Key Stories Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Wells Fargo and other analysts turned more bullish on Broadcom’s AI chip and data-center networking business, saying Wall Street may be underestimating demand from hyperscaler buildouts. Article Title
• Positive Sentiment: Broadcom is being framed as one of the main winners of the AI capital-spending cycle, with multiple articles highlighting accelerating custom AI silicon revenue and expectations for continued earnings growth into the next report. Article Title
• Positive Sentiment: Investor sentiment was also helped by major institutions and high-profile investors continuing to add to Broadcom positions, reinforcing the view that the AI thesis remains intact. Article Title
• Neutral Sentiment: Broadcom’s valuation remains elevated after its sharp run, so the stock may be sensitive to any sign that AI growth slows or expectations become too optimistic.
• Negative Sentiment: The company is also facing an EU antitrust lawsuit over VMware-related document requests, which adds a legal overhang even though it is not the main driver of today’s move. Article Title

Broadcom 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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