Broadcom Inc. $AVGO is National Pension Service's 8th Largest Position

Key Points

• National Pension Service increased its Broadcom stake by 2.9% in the fourth quarter, adding 257,019 shares to bring its total to 9.1 million shares. Broadcom is now its 8th-largest holding and represents about 2.3% of the fund’s portfolio.
• Broadcom shares were trading up 4.7% at $481.57, near the stock’s 52-week high of $488.82. The company’s market value has climbed to about $2.28 trillion.
• Broadcom beat fiscal Q1 earnings expectations, reporting $2.05 EPS on $19.31 billion in revenue, with sales rising 29.5% year over year. Analysts remain generally bullish, with a consensus rating of Moderate Buy and an average price target of $455.07.

National Pension Service raised its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 2.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,117,184 shares of the semiconductor manufacturer's stock after buying an additional 257,019 shares during the quarter. Broadcom makes up approximately 2.3% of National Pension Service's portfolio, making the stock its 8th biggest position. National Pension Service owned approximately 0.19% of Broadcom worth $3,155,457,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Broadcom by 0.8% in 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 buying an additional 3,919,715 shares during the last quarter. Geode Capital Management LLC lifted its stake in Broadcom by 1.4% in the fourth quarter. Geode Capital Management LLC now owns 111,277,280 shares of the semiconductor manufacturer's stock valued at $38,396,634,000 after buying an additional 1,548,699 shares during the last quarter. Invesco Ltd. lifted its stake in Broadcom by 1.8% in the third quarter. Invesco Ltd. now owns 39,149,651 shares of the semiconductor manufacturer's stock valued at $12,915,861,000 after buying an additional 700,021 shares during the last quarter. Legal & General Group Plc raised its stake in shares of Broadcom by 2.3% during the third quarter. Legal & General Group Plc now owns 33,450,786 shares of the semiconductor manufacturer's stock worth $11,035,749,000 after purchasing an additional 748,709 shares during the last quarter. Finally, Franklin Resources Inc. raised its stake in shares of Broadcom by 4.0% during the third quarter. Franklin Resources Inc. now owns 29,511,195 shares of the semiconductor manufacturer's stock worth $9,736,038,000 after purchasing an additional 1,124,590 shares during the last quarter. Hedge funds and other institutional investors own 76.43% of the company's stock.

Broadcom Trading Up 4.7%

Shares of AVGO stock opened at $481.57 on Wednesday. The business's fifty day moving average price is $386.31 and its 200 day moving average price is $359.32. Broadcom Inc. has a 1-year low of $241.11 and a 1-year high of $488.82. The firm has a market capitalization of $2.28 trillion, a PE ratio of 94.06, a P/E/G ratio of 0.95 and a beta of 1.41. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.90 and a quick ratio of 1.73.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its quarterly earnings data on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 earnings per share 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 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 company posted $1.60 earnings per share. Broadcom's quarterly revenue was up 29.5% on a year-over-year basis. As a group, sell-side analysts forecast that Broadcom Inc. will post 9.91 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on AVGO shares. Evercore restated an "outperform" rating and set a $582.00 price target on shares of Broadcom in a research note on Tuesday, May 19th. Bank of America cut their price target on Broadcom from $500.00 to $450.00 and set a "buy" rating for the company in a research note on Thursday, March 5th. Royal Bank Of Canada cut their price target on Broadcom from $370.00 to $340.00 and set a "sector perform" rating for the company in a research note on Monday, March 2nd. Zacks Research cut Broadcom from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 21st. Finally, Erste Group Bank cut Broadcom from a "buy" rating to a "hold" rating in a research note on Thursday, April 2nd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, Broadcom currently has a consensus rating of "Moderate Buy" and an average price target of $455.07.

Insiders Place Their Bets

In related news, insider Mark David Brazeal sold 50,488 shares of the company's stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $321.60, for a total transaction of $16,236,940.80. Following the transaction, the insider owned 278,141 shares of the company's stock, valued at $89,450,145.60. This represents a 15.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider S. Ram Velaga sold 38,841 shares of the company's stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $321.60, for a total value of $12,491,265.60. Following the transaction, the insider directly owned 96,147 shares in the company, valued at $30,920,875.20. This represents a 28.77% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 324,282 shares of company stock worth $106,425,249. Insiders own 1.90% of the company's stock.

Key Stories Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom is benefiting from the broader AI infrastructure buildout, especially Alphabet’s fundraising plans for more AI spending, which investors see as a tailwind for AI chip suppliers. Broadcom Stock Hit Another Record High. Why Google's Big AI Buildout Is a Boon for the Chipmaker
• Positive Sentiment: Oppenheimer reiterated a Buy rating on Broadcom ahead of earnings, signaling confidence that the company can deliver a strong quarter and support the stock’s premium valuation. Veteran Bank Makes Big Broadcom Call Before Earnings Report
• Positive Sentiment: Multiple recent notes raised price targets on Broadcom, including Morgan Stanley and Susquehanna, adding to bullish sentiment into the earnings report. Susquehanna and UBS Raise Broadcom (AVGO) Price Target Ahead of Results
• Positive Sentiment: Broadcom’s networking and AI-edge product announcements, including Wi-Fi 8 and broadband chips with AI capabilities, reinforce the company’s role in the AI ecosystem. Broadcom Connects the AI Edge with Comprehensive Multi-Gig Broadband and Wi-Fi 8 Innovations
• Neutral Sentiment: Analysts expect strong AI-related semiconductor revenue growth and VMware-led software contributions in the upcoming quarter, but investors are also watching for margin pressure from lower-margin XPU sales. Will Higher Semiconductor Revenues Help AVGO Stock Beat Q2 Earnings?
• Neutral Sentiment: Broadcom is trading at a premium valuation ahead of earnings, so while the AI story is strong, the stock may need a near-perfect report to keep the rally going. Broadcom Stock Hits Record High Ahead of Earnings
• Negative Sentiment: One published bearish view suggests some investors are positioning against Broadcom heading into earnings, reflecting concern that expectations may already be very high. Broadcom Inc. (AVGO): Leopold Aschenbrenner Reveals Bearish Bet

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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