Broadcom Inc. $AVGO is ING Groep NV's 4th Largest Position

Key Points

• ING Groep NV cut its Broadcom stake by 16.3% in the fourth quarter, but the position remained large at 2.25 million shares valued at about $780.2 million. Broadcom still represented 4.7% of ING’s portfolio, making it the fund’s 4th-largest holding.
• Broadcom reported better-than-expected quarterly results, with earnings per share of $2.44 versus $2.40 expected and revenue of $22.19 billion versus $22.13 billion expected. Revenue jumped 47.9% from a year earlier, underscoring strong growth momentum.
• Wall Street sentiment remains constructive, with several analysts raising price targets and Broadcom announcing a quarterly dividend of $0.65 per share. The company’s average analyst rating is currently Moderate Buy, with an average target price of $490.13.

ING Groep NV lessened its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 16.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,254,385 shares of the semiconductor manufacturer's stock after selling 438,772 shares during the quarter. Broadcom accounts for 4.7% of ING Groep NV's portfolio, making the stock its 4th biggest holding. ING Groep NV's holdings in Broadcom were worth $780,243,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Baring Financial LLC boosted its stake in shares of Broadcom by 2.2% in the fourth quarter. Baring Financial LLC now owns 1,359 shares of the semiconductor manufacturer's stock worth $470,000 after acquiring an additional 29 shares during the period. Five Oceans Advisors raised its stake in Broadcom by 0.4% during the fourth quarter. Five Oceans Advisors now owns 8,191 shares of the semiconductor manufacturer's stock valued at $2,835,000 after purchasing an additional 29 shares in the last quarter. Planning Alternatives Ltd. ADV lifted its stake in shares of Broadcom by 1.4% in the 3rd quarter. Planning Alternatives Ltd. ADV now owns 2,168 shares of the semiconductor manufacturer's stock valued at $715,000 after purchasing an additional 30 shares during the last quarter. Bell Investment Advisors Inc lifted its position in Broadcom by 1.9% in the third quarter. Bell Investment Advisors Inc now owns 1,638 shares of the semiconductor manufacturer's stock worth $540,000 after buying an additional 30 shares during the last quarter. Finally, Black Diamond Financial LLC lifted its position in Broadcom by 3.2% in the third quarter. Black Diamond Financial LLC now owns 1,008 shares of the semiconductor manufacturer's stock worth $333,000 after buying an additional 31 shares during the last quarter. Hedge funds and other institutional investors own 76.43% of the company's stock.

Broadcom Price Performance

AVGO stock opened at $392.16 on Wednesday. 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 business has a 50 day simple moving average of $399.79 and a 200-day simple moving average of $362.70. The firm has a market capitalization of $1.86 trillion, a PE ratio of 65.36, a price-to-earnings-growth ratio of 0.72 and a beta of 1.41. Broadcom Inc. has a 1 year low of $241.40 and a 1 year high of $495.00.

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 company had revenue of $22.19 billion during 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 revenue for the quarter was up 47.9% compared to the same quarter last year. During the same period in the prior year, the business posted $1.58 earnings per share. Equities research analysts anticipate that Broadcom Inc. will post 9.96 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 given a $0.65 dividend. The ex-dividend date of this dividend 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 (DPR) is currently 43.33%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on AVGO shares. Weiss Ratings upgraded Broadcom from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, May 27th. Morgan Stanley set a $502.00 price target on Broadcom and gave the company an "overweight" rating in a report on Thursday, June 4th. JPMorgan Chase & Co. lifted their price target on Broadcom from $500.00 to $580.00 and gave the company an "overweight" rating in a report on Thursday, June 4th. Jefferies Financial Group set a $550.00 target price on Broadcom and gave the stock a "buy" rating in a research note on Thursday, June 4th. Finally, Oppenheimer reaffirmed an "outperform" rating and set a $535.00 price target (up from $450.00) on shares of Broadcom in a research report on Thursday, June 4th. One equities research 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 data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $490.13.

Insider Buying and Selling

In other Broadcom news, insider S. Ram Velaga sold 8,000 shares of the firm's stock in a transaction dated Friday, April 10th. The stock was sold at an average price of $370.52, for a total transaction of $2,964,160.00. Following the transaction, the insider owned 57,932 shares of the company's stock, valued at approximately $21,464,964.64. This trade represents a 12.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Justine Page sold 2,018 shares of the firm's stock in a transaction dated Wednesday, April 8th. The stock was sold at an average price of $353.00, for a total value of $712,354.00. Following the transaction, the director directly owned 18,164 shares in the company, valued at approximately $6,411,892. This represents a 10.00% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 324,282 shares of company stock valued at $106,425,249 over the last 90 days. 1.90% of the stock is currently owned by corporate insiders.

Key Headlines Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Apollo Global Management and Blackstone are backing a $35 billion AI infrastructure platform tied to Broadcom’s custom chips and networking gear, with Anthropic’s capacity expansion as the initial use case. This reinforces Broadcom’s role in the AI buildout and could support long-term revenue growth. Article Title
• Positive Sentiment: Broadcom also announced a new AI infrastructure partnership with Apollo and Blackstone, adding another sign that its semiconductor and networking solutions remain central to enterprise AI expansion. Article Title
• Positive Sentiment: JPMorgan reportedly raised its outlook on Broadcom after the latest earnings report, signaling that major analysts still see value in the stock despite the recent pullback. Article Title
• Positive Sentiment: More than 40 analysts remain bullish on Broadcom, and several recent articles highlight upgraded ratings and higher price targets, which can help stabilize investor sentiment. 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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