Broadcom Inc. $AVGO is New York State Teachers Retirement System's 6th Largest Position

Key Points

• New York State Teachers Retirement System trimmed its stake in Broadcom (AVGO) by 2.4% in Q4 to 3,814,597 shares worth $1.32 billion, making AVGO the fund's 6th-largest holding and ~2.6% of its portfolio.
• Broadcom reported a solid quarter (EPS $2.05 vs. $2.03 est.; revenue $19.31B, +29.5% YoY) and carries a MarketBeat consensus of "Moderate Buy" with a $435.30 target.
• Institutional ownership is high (76.43%), but recent insider selling (~324,282 shares, ~$106M over three months) and a reported financing snag on an ~ $18B OpenAI chip deal pose near-term headline risks.

New York State Teachers Retirement System trimmed its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 2.4% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,814,597 shares of the semiconductor manufacturer's stock after selling 92,828 shares during the quarter. Broadcom accounts for approximately 2.6% of New York State Teachers Retirement System's investment portfolio, making the stock its 6th largest position. New York State Teachers Retirement System owned 0.08% of Broadcom worth $1,320,232,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Baring Financial LLC grew its holdings 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 purchasing an additional 29 shares during the last quarter. Five Oceans Advisors grew its holdings in shares of Broadcom by 0.4% in the fourth quarter. Five Oceans Advisors now owns 8,191 shares of the semiconductor manufacturer's stock worth $2,835,000 after purchasing an additional 29 shares during the last quarter. Jackson Hole Capital Partners LLC grew its holdings in shares of Broadcom by 1.4% in the third quarter. Jackson Hole Capital Partners LLC now owns 2,170 shares of the semiconductor manufacturer's stock worth $716,000 after purchasing an additional 30 shares during the last quarter. Private Wealth Partners LLC boosted its position in Broadcom by 0.7% in the 3rd quarter. Private Wealth Partners LLC now owns 4,273 shares of the semiconductor manufacturer's stock valued at $1,410,000 after buying an additional 30 shares during the period. Finally, Planning Alternatives Ltd. ADV boosted its position in 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 buying an additional 30 shares during the period. 76.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Rosenblatt Securities restated a "buy" rating and issued a $500.00 target price on shares of Broadcom in a research note on Tuesday, April 7th. Royal Bank Of Canada lowered their price target on Broadcom from $370.00 to $340.00 and set a "sector perform" rating for the company in a report on Monday, March 2nd. Zacks Research raised Broadcom from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 2nd. Truist Financial raised their price objective on Broadcom from $510.00 to $545.00 and gave the stock a "buy" rating in a report on Thursday, March 5th. Finally, Morgan Stanley upped their target price on Broadcom from $462.00 to $470.00 and gave the stock an "overweight" rating in a report on Friday, March 6th. Two analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, Broadcom currently has an average rating of "Moderate Buy" and a consensus target price of $435.30.

Broadcom Stock Performance

Shares of Broadcom stock opened at $412.56 on Friday. The company has a market capitalization of $1.95 trillion, a PE ratio of 80.58, a P/E/G ratio of 0.88 and a beta of 1.43. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.73 and a current ratio of 1.90. The company has a 50-day simple moving average of $352.89 and a two-hundred day simple moving average of $351.28. Broadcom Inc. has a one year low of $203.69 and a one year high of $437.68.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its earnings results on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 EPS for the quarter, topping analysts' consensus estimates of $2.03 by $0.02. The business had revenue of $19.31 billion during the quarter, compared to the consensus estimate of $19.10 billion. Broadcom had a net margin of 36.57% and a return on equity of 38.61%. The firm's revenue was up 29.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.60 earnings per share. Research analysts expect that Broadcom Inc. will post 9.95 EPS for the current fiscal year.

Broadcom Announces Dividend

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

Broadcom News Summary

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Fisher Asset Management materially increased its Broadcom stake, signaling institutional confidence and providing a demand floor for the stock. Fisher Asset Management boosts Broadcom stake by 847,157 shares
• Positive Sentiment: Analyst and press coverage emphasize Broadcom’s expanding role in AI infrastructure and strong AI revenue guidance, supporting a constructive medium-term earnings outlook. How Broadcom Redefines The AI Infrastructure Play
• Positive Sentiment: Broadcom’s VMware-by-Broadcom services are gaining public‑sector distribution via a Carahsoft/evoila partnership, expanding government channel reach and recurring-services revenue potential. evoila U.S. and Carahsoft Partner to Deliver VMware by Broadcom
• Neutral Sentiment: Corning’s large optical-fiber contracts (including with Broadcom) validate continued hyperscale capex on connectivity — good for long-term TAM but not an immediate earnings swing for Broadcom. Light Speed Returns: Corning Cashes In on NVIDIA Growth (AVGO)
• Neutral Sentiment: Broadcom remains a trending/dividend-growth name in several retail and income-focused write-ups; these can support longer-term flows but are unlikely to reverse a short-term selloff. Here is What to Know Beyond Why Broadcom Inc. (AVGO) is a Trending Stock
• Negative Sentiment: The primary near-term negative: a report that Broadcom’s ~$18B custom chip deal with OpenAI has hit a major financing snag, which directly pressured the stock and raised execution/timing concerns for a core AI revenue stream. Broadcom Stock (AVGO) Slides after $18B OpenAI Custom Chip Deal Hits Major Financing Snag
• Negative Sentiment: A recent political disclosure shows a sale of AVGO shares by Senator Shelley Moore Capito; while single disclosures are often routine, they can add to short-term headline pressure. Congress Trade: Senator Shelley Moore Capito Just Disclosed New Stock Trades

Insider Activity

In other Broadcom news, CFO Kirsten M. Spears sold 36,292 shares of the business's stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $321.60, for a total value of $11,671,507.20. Following the completion of the transaction, the chief financial officer directly owned 327,760 shares in the company, valued at approximately $105,407,616. The trade was a 9.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Charlie B. Kawwas sold 39,116 shares of the business's stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $321.61, for a total transaction of $12,580,096.76. Following the completion of the transaction, the insider owned 74,626 shares of the company's stock, valued at $24,000,467.86. This represents a 34.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 324,282 shares of company stock valued at $106,425,249. Company insiders own 1.90% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.