Broadcom Inc. $AVGO Shares Acquired by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company grew its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 21.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,310,766 shares of the semiconductor manufacturer's stock after buying an additional 928,806 shares during the period. Broadcom accounts for 1.4% of The Manufacturers Life Insurance Company's investment portfolio, making the stock its 9th largest holding. The Manufacturers Life Insurance Company owned about 0.11% of Broadcom worth $1,643,640,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Fullerton Advisors LLC increased its position in shares of Broadcom by 1.3% during the first quarter. Fullerton Advisors LLC now owns 1,989 shares of the semiconductor manufacturer's stock worth $616,000 after purchasing an additional 25 shares in the last quarter. NORTHSTAR ASSET MANAGEMENT Co boosted its position in shares of Broadcom by 0.5% in the 1st quarter. NORTHSTAR ASSET MANAGEMENT Co now owns 5,350 shares of the semiconductor manufacturer's stock valued at $1,656,000 after purchasing an additional 25 shares during the period. RFG Holdings Inc. boosted its position in shares of Broadcom by 0.3% in the 1st quarter. RFG Holdings Inc. now owns 8,499 shares of the semiconductor manufacturer's stock valued at $2,631,000 after purchasing an additional 26 shares during the period. Yukon Wealth Management Inc. grew its stake in Broadcom by 1.1% during the 1st quarter. Yukon Wealth Management Inc. now owns 2,501 shares of the semiconductor manufacturer's stock worth $774,000 after buying an additional 26 shares during the last quarter. Finally, Capital Planning LLC increased its position in Broadcom by 0.7% during the first quarter. Capital Planning LLC now owns 4,044 shares of the semiconductor manufacturer's stock worth $1,252,000 after buying an additional 28 shares during the period. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Key Stories Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom’s custom-silicon business continues to attract demand from hyperscalers building AI infrastructure, with new client wins supporting the company’s growth outlook. Broadcom Rose on Strong Custom Silicon Demand and New Client Wins
• Positive Sentiment: Alphabet plans to spend approximately $195 billion to $205 billion on capital expenditures this year, maintaining a substantial customer opportunity for AI processors supplied by Broadcom and Nvidia. Alphabet CEO Sundar Pichai Just Made a Major Decision Affecting Nvidia and Broadcom Investors
• Positive Sentiment: J.P. Morgan said Broadcom will source most of its memory requirements from Samsung through 2030, potentially improving supply visibility as AI-related memory demand expands. Broadcom's Expanded Samsung Pact Shows AI Trade Is Still All About Memory
• Positive Sentiment: Recent investor commentary highlights Broadcom as a direct beneficiary of rising data-center infrastructure spending, with its custom silicon and networking products positioned as a way to monetize hyperscaler AI investment. I'm Buying Broadcom This Week For One Powerful Reason
• Neutral Sentiment: Broadcom has delivered strong long-term shareholder returns and recently benefited from solid quarterly results, although those gains have contributed to elevated expectations. 3 Big Reasons to Love Broadcom
• Negative Sentiment: The immediate pressure on AVGO is sector-wide: chip stocks extended their pullback as investors questioned whether the AI trade resembles a bubble, weighing on the Nasdaq and semiconductor valuations. Chip Stocks Extend Pullback Amid AI Bubble Fears
• Negative Sentiment: Investors remain concerned that hyperscaler capital-expenditure plans could slow or that Broadcom’s dependence on major customers, including Google, may limit its valuation upside. These concerns are competing with the company’s AI growth narrative. Broadcom: Why the Google Share Panic Misses What Broadcom's Moat Actually Is

Analyst Ratings Changes

A number of brokerages have recently issued reports on AVGO. Bank of America raised their target price on shares of Broadcom from $450.00 to $530.00 and gave the stock a "buy" rating in a research report on Thursday, June 4th. DA Davidson upped their price target on shares of Broadcom from $375.00 to $400.00 and gave the company a "neutral" rating in a research report on Thursday, June 4th. Susquehanna reiterated a "positive" rating and set a $490.00 price target (up from $450.00) on shares of Broadcom in a research note on Thursday, May 28th. Seaport Research Partners restated a "neutral" rating on shares of Broadcom in a research note on Wednesday, April 8th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $525.00 target price on shares of Broadcom in a report on Thursday, June 4th. Twenty-eight research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $493.24.

Broadcom Stock Down 0.6%

AVGO opened at $380.91 on Wednesday. The stock has a market capitalization of $1.81 trillion, a P/E ratio of 63.49, a P/E/G ratio of 0.73 and a beta of 1.45. Broadcom Inc. has a 12 month low of $281.61 and a 12 month high of $495.00. The business has a 50 day simple moving average of $396.06 and a 200-day simple moving average of $367.39. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.24 and a quick ratio of 2.01.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its quarterly earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share for the quarter, topping analysts' consensus estimates of $2.40 by $0.04. The business had revenue of $22.19 billion for the quarter, compared to analysts' expectations of $22.13 billion. Broadcom had a net margin of 38.85% and a return on equity of 41.61%. The business's revenue for the quarter was up 47.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.58 EPS. On average, equities analysts anticipate that Broadcom Inc. will post 10.24 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 22nd were given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Monday, June 22nd. Broadcom's dividend payout ratio (DPR) is presently 43.33%.

Insider Activity at Broadcom

In related news, Director Justine Page sold 1,602 shares of the firm's stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $373.86, for a total value of $598,923.72. Following the completion of the transaction, the director directly owned 17,426 shares of the company's stock, valued at $6,514,884.36. This trade represents a 8.42% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Harry L. You bought 1,000 shares of the stock in a transaction on Thursday, June 11th. The stock was purchased at an average cost of $373.57 per share, for a total transaction of $373,570.00. Following the acquisition, the director directly owned 38,466 shares of the company's stock, valued at $14,369,743.62. The trade was a 2.67% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have sold a total of 61,644 shares of company stock valued at $24,016,214 in the last 90 days. Insiders own 1.90% of the company's stock.

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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