Broadcom Inc. $AVGO is Convergence Investment Partners LLC's 2nd Largest Position

Key Points

• Convergence Investment Partners LLC increased its Broadcom stake by 9.7% in the fourth quarter, bringing its holdings to 31,109 shares worth about $10.77 million. Broadcom is now its 2nd largest position and makes up about 2.1% of the portfolio.
• Institutional ownership remains high, with hedge funds and other investors owning 76.43% of Broadcom shares. Several firms recently boosted their positions, while insiders have also been selling shares over the past 90 days.
• Analysts remain largely bullish on AVGO, with multiple firms reiterating buy-type ratings and price targets as high as $582. The stock has an average analyst rating of Moderate Buy and an average price target of $448.10.

Convergence Investment Partners LLC grew its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 9.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 31,109 shares of the semiconductor manufacturer's stock after acquiring an additional 2,758 shares during the quarter. Broadcom comprises about 2.1% of Convergence Investment Partners LLC's holdings, making the stock its 2nd largest position. Convergence Investment Partners LLC's holdings in Broadcom were worth $10,767,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Providence First Trust Co grew its stake in shares of Broadcom by 1,099.3% in the third quarter. Providence First Trust Co now owns 8,923 shares of the semiconductor manufacturer's stock valued at $2,944,000 after buying an additional 8,179 shares in the last quarter. Whittier Trust Co. of Nevada Inc. grew its position in Broadcom by 3.4% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 323,587 shares of the semiconductor manufacturer's stock valued at $109,492,000 after acquiring an additional 10,786 shares in the last quarter. Lmcg Investments LLC grew its position in Broadcom by 9.4% in the third quarter. Lmcg Investments LLC now owns 38,961 shares of the semiconductor manufacturer's stock valued at $12,854,000 after acquiring an additional 3,357 shares in the last quarter. Wright Investors Service Inc. raised its stake in shares of Broadcom by 5.4% during the third quarter. Wright Investors Service Inc. now owns 42,159 shares of the semiconductor manufacturer's stock valued at $13,909,000 after purchasing an additional 2,178 shares during the period. Finally, Brown Brothers Harriman & Co. raised its stake in shares of Broadcom by 10.7% during the third quarter. Brown Brothers Harriman & Co. now owns 77,411 shares of the semiconductor manufacturer's stock valued at $25,539,000 after purchasing an additional 7,499 shares during the period. Institutional investors and hedge funds own 76.43% of the company's stock.

Insider Activity

In related news, insider Charlie B. Kawwas sold 39,116 shares of the stock in a transaction that occurred 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 completion of the transaction, 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 position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider S. Ram Velaga sold 38,841 shares of the firm's stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $321.60, for a total value of $12,491,265.60. Following the completion of the sale, the insider owned 96,147 shares in the company, valued at approximately $30,920,875.20. This represents a 28.77% decrease in their ownership of the stock. 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 over the last ninety days. Insiders own 1.90% of the company's stock.

Analyst Ratings Changes

AVGO has been the subject of a number of recent analyst reports. Rosenblatt Securities reaffirmed a "buy" rating and set a $500.00 price target on shares of Broadcom in a report on Tuesday, April 7th. JPMorgan Chase & Co. boosted their price target on Broadcom from $475.00 to $500.00 and gave the stock an "overweight" rating in a research note on Thursday, March 5th. DA Davidson upgraded Broadcom to a "hold" rating in a research note on Friday, February 13th. Bank of America dropped their price objective on Broadcom from $500.00 to $450.00 and set a "buy" rating on the stock in a report on Thursday, March 5th. Finally, Evercore reaffirmed an "outperform" rating and issued a $582.00 target price on shares of Broadcom in a research report on Tuesday. Two analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $448.10.

Trending Headlines about Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom deepened its relationship with the London Stock Exchange Group (LSEG) through a new five-year agreement centered on VMware Cloud Foundation, which should support recurring software revenue and highlights demand for Broadcom’s enterprise cloud and infrastructure products. Article Title
• Positive Sentiment: Applied Materials named Broadcom as an EPIC Innovation Partner, signaling collaboration on advanced packaging technologies that are critical for next-generation AI chips and systems. That reinforces Broadcom’s position as a key supplier in the AI infrastructure buildout. Article Title
• Positive Sentiment: Wall Street continues to view Broadcom favorably, with multiple recent analyst price targets raised or reiterated at bullish levels. Investors are still focusing on Broadcom’s AI exposure and custom chip momentum. Article Title
• Neutral Sentiment: A Zacks screen highlighted Broadcom as a high-ROE “cash cow” alongside other stocks that may hold up better during a tech slump. This is more of a relative-strength mention than a new company-specific catalyst. Article Title
• Neutral Sentiment: Another Zacks item discussed whether brokers’ opinions matter for Broadcom, but it did not add a clear new upgrade, downgrade, or earnings surprise. Article Title
• Neutral Sentiment: Broader market articles noted a selloff in major tech stocks and the Magnificent 7, which can weigh on AVGO sentiment even when company-specific news remains positive. Article Title
• Negative Sentiment: One Seeking Alpha piece argued that Broadcom’s AI visibility has improved, but the valuation multiple has not expanded as much as expected, suggesting some investor caution after the stock’s strong run. Article Title

Broadcom Stock Up 1.6%

Shares of NASDAQ:AVGO opened at $417.76 on Thursday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.73 and a current ratio of 1.90. Broadcom Inc. has a 1-year low of $226.18 and a 1-year high of $442.36. The company's fifty day moving average is $370.41 and its two-hundred day moving average is $355.37. The stock has a market capitalization of $1.98 trillion, a price-to-earnings ratio of 81.59, a price-to-earnings-growth ratio of 0.85 and a beta of 1.43.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its quarterly earnings data on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 earnings per share for the quarter, topping the consensus estimate of $2.03 by $0.02. Broadcom had a net margin of 36.57% and a return on equity of 38.61%. The firm had revenue of $19.31 billion for the quarter, compared to analyst estimates of $19.10 billion. During the same quarter in the prior year, the business earned $1.60 earnings per share. Broadcom's quarterly revenue was up 29.5% on a year-over-year basis. Equities analysts anticipate that Broadcom Inc. will post 9.97 EPS for the current year.

Broadcom Dividend Announcement

The business also recently declared 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 dividend 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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