Broadcom Inc. $AVGO is Public Employees Retirement Association of Colorado's 7th Largest Position

Key Points

• Public Employees Retirement Association of Colorado increased its Broadcom stake by 4.7% in the fourth quarter, making AVGO its 7th largest holding and valuing the position at about $752.2 million.
• Broadcom reported better-than-expected quarterly results, with earnings per share of $2.44 versus $2.40 expected and revenue of $22.19 billion, up 47.9% year over year.
• The company also announced a quarterly dividend of $0.65 per share, while analysts remain broadly positive with a consensus rating of Moderate Buy and a target price around $490.13.

Public Employees Retirement Association of Colorado boosted its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 4.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,173,391 shares of the semiconductor manufacturer's stock after acquiring an additional 96,690 shares during the period. Broadcom comprises approximately 2.8% of Public Employees Retirement Association of Colorado's portfolio, making the stock its 7th largest position. Public Employees Retirement Association of Colorado's holdings in Broadcom were worth $752,211,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Brown Brothers Harriman & Co. increased its stake in Broadcom by 10.7% in 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. Dana Investment Advisors Inc. increased its stake in Broadcom by 2.6% in the third quarter. Dana Investment Advisors Inc. now owns 173,759 shares of the semiconductor manufacturer's stock valued at $57,325,000 after purchasing an additional 4,442 shares during the period. Sovran Advisors LLC increased its stake in Broadcom by 121.3% in the fourth quarter. Sovran Advisors LLC now owns 30,631 shares of the semiconductor manufacturer's stock valued at $10,507,000 after purchasing an additional 16,789 shares during the period. Thurston Springer Miller Herd & Titak Inc. increased its stake in Broadcom by 406.1% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 11,994 shares of the semiconductor manufacturer's stock valued at $4,151,000 after purchasing an additional 9,624 shares during the period. Finally, Siligmueller & Norvid Wealth Advisors LLC acquired a new position in Broadcom in the third quarter valued at $762,000. 76.43% of the stock is owned by hedge funds and other institutional investors.

Broadcom Trading Up 3.1%

Shares of Broadcom stock opened at $393.94 on Tuesday. Broadcom Inc. has a 52-week low of $244.17 and a 52-week high of $495.00. The company has a quick ratio of 2.01, a current ratio of 2.24 and a debt-to-equity ratio of 0.71. The company's 50-day simple moving average is $405.85 and its 200-day simple moving average is $363.29. The firm has a market cap of $1.87 trillion, a price-to-earnings ratio of 65.66, a price-to-earnings-growth ratio of 0.67 and a beta of 1.41.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its earnings results 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. Broadcom had a net margin of 38.85% and a return on equity of 41.61%. The company had revenue of $22.19 billion for the quarter, compared to analyst estimates of $22.13 billion. During the same period in the prior year, the business posted $1.58 earnings per share. The firm's revenue for the quarter was up 47.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Broadcom Inc. will post 10.24 earnings per share for the current year.

Broadcom Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 22nd will be given a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 0.7%. The ex-dividend date is Monday, June 22nd. Broadcom's dividend payout ratio is presently 43.33%.

Key Headlines Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Director Harry L. You bought 1,000 Broadcom shares in a disclosed SEC filing, a vote of confidence that can reassure investors about the company’s outlook. SEC Form 4 filing
• Positive Sentiment: Recent articles continue to frame Broadcom as a major beneficiary of the AI infrastructure buildout, with investors focusing on its custom compute, networking, and semiconductor exposure. Investopedia article
• Positive Sentiment: Broadcom was included in bullish commentary about “beaten down” AI infrastructure stocks, suggesting some investors see the recent pullback as a buying opportunity rather than a fundamental deterioration. 247WallSt article
• Positive Sentiment: Wall Street Zen reportedly upgraded Broadcom to Strong-Buy, adding to the bullish analyst tone around the stock. American Banking News article
• Neutral Sentiment: Some coverage compared Broadcom with other AI infrastructure names and noted that competitors may have stronger near-term upside, which could temper enthusiasm but does not change Broadcom’s long-term AI thesis. Zacks article
• Negative Sentiment: Recent market commentary said Broadcom’s stock pulled back after record quarterly results because investors were focused on cautious AI guidance and valuation concerns, which may be weighing on sentiment. Yahoo Finance article

Insider Activity at Broadcom

In other Broadcom news, Director Gayla J. Delly sold 1,000 shares of the company's stock in a transaction dated Thursday, April 9th. The shares were sold at an average price of $358.31, for a total transaction of $358,310.00. Following the transaction, the director directly owned 32,352 shares in the company, valued at approximately $11,592,045.12. This represents a 3.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Harry L. You bought 1,000 shares of the stock in a transaction on Thursday, June 11th. The shares were bought at an average price of $373.57 per share, for a total transaction of $373,570.00. Following the completion of the transaction, the director directly owned 38,466 shares of the company's stock, valued at $14,369,743.62. This trade represents a 2.67% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders sold a total of 51,233 shares of company stock valued at $18,125,134 in the last ninety days. Company insiders own 1.90% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on AVGO. UBS Group set a $485.00 price objective on shares of Broadcom and gave the company a "buy" rating in a research note on Thursday, June 4th. Bank of America boosted their price target on shares of Broadcom from $450.00 to $530.00 and gave the stock a "buy" rating in a research note on Thursday, June 4th. Evercore reiterated an "outperform" rating and set a $582.00 price target on shares of Broadcom in a research note on Tuesday, May 19th. Truist Financial boosted their price target on shares of Broadcom from $545.00 to $550.00 and gave the stock a "buy" rating in a research note on Thursday, June 4th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and set a $525.00 price target on shares of Broadcom in a research note on Thursday, June 4th. One 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. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $490.13.

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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