Broadcom Inc. $AVGO Shares Acquired by Darden Wealth Group Inc

Key Points

• Darden Wealth Group Inc. boosted its Broadcom stake by 9.3% in the fourth quarter, adding 1,891 shares to reach 22,209 shares valued at about $7.69 million. Broadcom is now its 6th-largest holding.
• Broadcom reported strong quarterly results, with EPS of $2.05 and revenue of $19.31 billion, both ahead of analyst expectations. Revenue rose 29.5% year over year, and analysts still expect continued earnings growth.
• Wall Street sentiment remains positive, with multiple firms maintaining or raising targets, including Wells Fargo at $545 and Evercore at $582. Broadcom currently has a consensus rating of “Moderate Buy” and an average target price of $454.55.

Darden Wealth Group Inc increased its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 9.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,209 shares of the semiconductor manufacturer's stock after purchasing an additional 1,891 shares during the quarter. Broadcom accounts for 3.7% of Darden Wealth Group Inc's holdings, making the stock its 6th largest holding. Darden Wealth Group Inc's holdings in Broadcom were worth $7,687,000 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. Baring Financial LLC grew its stake in Broadcom by 2.2% during the 4th quarter. Baring Financial LLC now owns 1,359 shares of the semiconductor manufacturer's stock worth $470,000 after purchasing an additional 29 shares in the last quarter. Five Oceans Advisors grew its stake in Broadcom by 0.4% during the 4th 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 in the last quarter. Private Wealth Partners LLC grew its stake in Broadcom by 0.7% during the 3rd quarter. Private Wealth Partners LLC now owns 4,273 shares of the semiconductor manufacturer's stock worth $1,410,000 after purchasing an additional 30 shares in the last quarter. Planning Alternatives Ltd. ADV grew its stake in Broadcom by 1.4% during the 3rd quarter. Planning Alternatives Ltd. ADV now owns 2,168 shares of the semiconductor manufacturer's stock worth $715,000 after purchasing an additional 30 shares in the last quarter. Finally, Bell Investment Advisors Inc grew its stake in Broadcom by 1.9% during the 3rd quarter. Bell Investment Advisors Inc now owns 1,638 shares of the semiconductor manufacturer's stock worth $540,000 after purchasing an additional 30 shares in the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Broadcom

In other news, insider Charlie B. Kawwas sold 10,000 shares of the business's stock in a transaction dated Wednesday, April 8th. The stock was sold at an average price of $345.23, for a total value of $3,452,300.00. Following the completion of the sale, the insider directly owned 787,184 shares of the company's stock, valued at approximately $271,759,532.32. The trade was a 1.25% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gayla J. Delly sold 1,000 shares of the business's stock in a transaction dated Thursday, April 9th. The shares were sold at an average price of $358.31, for a total value of $358,310.00. Following the completion of the sale, the director directly owned 32,352 shares of the company's stock, valued at $11,592,045.12. The trade was a 3.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 324,282 shares of company stock worth $106,425,249 over the last three months. Company insiders own 1.90% of the company's stock.

Broadcom Stock Up 1.1%

Shares of NASDAQ AVGO opened at $426.58 on Friday. The company has a market capitalization of $2.02 trillion, a price-to-earnings ratio of 83.32, a price-to-earnings-growth ratio of 0.87 and a beta of 1.43. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.90 and a quick ratio of 1.73. The business has a 50-day moving average of $380.90 and a two-hundred day moving average of $357.94. Broadcom Inc. has a 1 year low of $234.90 and a 1 year high of $442.36.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its quarterly earnings results on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.03 by $0.02. The company had revenue of $19.31 billion during the quarter, compared to the consensus estimate of $19.10 billion. Broadcom had a return on equity of 38.61% and a net margin of 36.57%.Broadcom's revenue for the quarter was up 29.5% on a year-over-year basis. During the same period in the previous year, the business earned $1.60 EPS. On average, analysts forecast that Broadcom Inc. will post 9.91 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Morgan Stanley boosted their target price on Broadcom from $462.00 to $470.00 and gave the stock an "overweight" rating in a research note on Friday, March 6th. Wolfe Research raised Broadcom from a "peer perform" rating to an "outperform" rating and set a $400.00 target price for the company in a research note on Friday, January 30th. Wells Fargo & Company reissued an "overweight" rating and set a $545.00 target price (up from $430.00) on shares of Broadcom in a research note on Thursday, May 14th. Evercore reissued an "outperform" rating and set a $582.00 target price on shares of Broadcom in a research note on Tuesday, May 19th. Finally, Royal Bank Of Canada lowered their target price 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. 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. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $454.55.

Key Broadcom News

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom unveiled new BCM68850 and Wi‑Fi 8 home gateway products that combine 50G fiber, an on-chip NPU, and edge-AI capabilities, strengthening its position in next-generation consumer networking and AI-at-the-edge use cases. Article: Broadcom's BCM68850 Boosts AVGO's Edge AI Push: More Upside Ahead?
• Positive Sentiment: Broadcom announced a partnership with Samsung Electronics to launch an integrated 5G and Wi‑Fi 8 fixed wireless access platform, expanding its broadband footprint and supporting demand for its networking silicon. Article: Broadcom Unveils World's First Integrated 5G and Wi-Fi 8 FWA Platform in Collaboration with Samsung Electronics
• Positive Sentiment: Broadcom also launched what it says are the industry’s first integrated Wi‑Fi 8 SoCs for mesh and multi-gigabit routers, adding another catalyst for its connectivity and home-networking business. Article: Broadcom Delivers Industry's First Integrated Wi-Fi 8 SoCs to Power Next-Gen Mesh and Multi-Gigabit Routers
• Positive Sentiment: Evercore ISI raised its price target on Broadcom and kept an Outperform rating, reflecting confidence in the company’s AI infrastructure opportunity and supporting the stock’s momentum. Article: Broadcom (AVGO) Could Be Positioned For The Next Big Shift In AI Infrastructure
• Positive Sentiment: Analyst commentary continues to frame Broadcom as a “safe” long-term AI and networking holding, which may be helping sentiment as the stock approaches recent highs. Article: AI Can’t Reach the Real World Without These 3 Stocks
• Neutral Sentiment: The stock is also drawing attention because it is trading near its 52-week high ahead of earnings, which may keep volatility elevated as investors weigh whether the current valuation is fully priced in. Article: Broadcom Nearing 52-Week High: Buy, Sell or Hold?

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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