Broadcom Inc. $AVGO Shares Acquired by WealthPlan Investment Management LLC

Key Points

• WealthPlan Investment Management LLC increased its Broadcom stake by 76.6% in the fourth quarter, ending with 22,463 shares valued at about $7.8 million. The filing also noted that 76.43% of Broadcom shares are owned by hedge funds and other institutions.
• Wall Street remains broadly bullish on Broadcom, with several firms raising or reaffirming buy ratings and higher price targets. The consensus rating is currently Moderate Buy, with a consensus price target of $448.10.
• Broadcom reported better-than-expected quarterly results, including earnings of $2.05 per share and revenue of $19.31 billion, up 29.5% year over year. The company also paid a quarterly dividend of $0.65 per share, equal to a $2.60 annualized dividend.

WealthPlan Investment Management LLC boosted its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 76.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 22,463 shares of the semiconductor manufacturer's stock after acquiring an additional 9,745 shares during the period. WealthPlan Investment Management LLC's holdings in Broadcom were worth $7,775,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Miller Global Investments LLC purchased a new stake in Broadcom in the 4th quarter valued at about $31,000. JCIC Asset Management Inc. acquired a new position in Broadcom during the third quarter worth $31,000. Nvest Wealth Strategies Inc. acquired a new position in Broadcom during the fourth quarter worth $33,000. Family CFO Inc acquired a new position in Broadcom during the fourth quarter worth $35,000. Finally, PayPay Securities Corp lifted its stake in Broadcom by 88.9% during the fourth quarter. PayPay Securities Corp now owns 119 shares of the semiconductor manufacturer's stock worth $41,000 after purchasing an additional 56 shares in the last quarter. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

AVGO has been the topic of a number of research reports. UBS Group restated a "buy" rating and set a $490.00 price target (up from $475.00) on shares of Broadcom in a research note on Monday. Rosenblatt Securities restated a "buy" rating and set a $500.00 price target on shares of Broadcom in a research note on Tuesday, April 7th. Wolfe Research upgraded Broadcom from a "peer perform" rating to an "outperform" rating and set a $400.00 price target on the stock in a research note on Friday, January 30th. Truist Financial upped their price target on Broadcom from $510.00 to $545.00 and gave the stock a "buy" rating in a research note on Thursday, March 5th. Finally, Weiss Ratings cut Broadcom from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Friday, April 24th. Two research analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $448.10.

Key Stories Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Applied Materials named Broadcom as an EPIC Innovation Partner, and the companies will collaborate on advanced packaging R&D to speed development of next-generation AI chips and systems — a constructive sign for Broadcom’s AI hardware opportunity. Applied Materials Announces Broadcom as EPIC Innovation Partner
• Positive Sentiment: Analysts reportedly raised Broadcom price targets, reinforcing Wall Street’s bullish view that AI demand could support further upside in the shares. Analysts raise Broadcom stock price target
• Positive Sentiment: Several commentary pieces described Broadcom as a strong growth and long-term compounder, citing solid fundamentals and AI visibility as reasons investors still see the stock as attractive. Is Broadcom Inc. (AVGO) a Solid Growth Stock? 3 Reasons to Think "Yes"
• Neutral Sentiment: Some articles framed the recent move as a valuation and positioning reset rather than a change in fundamentals, suggesting investors are reassessing how much AI optimism is already priced in. Analysts raise Broadcom stock price target
• Negative Sentiment: Broadcom is facing criticism in at least one bearish note that says the stock is “far too overcrowded,” which can weigh on sentiment if investors worry the trade is too crowded. Broadcom Is Far Too Overcrowded
• Negative Sentiment: One report also highlighted that Broadcom traded below its recent record highs despite analyst upgrades, underscoring that valuation concerns and broader tech weakness may be limiting gains. Analysts raise Broadcom stock price target

Broadcom Stock Down 0.8%

Broadcom stock opened at $414.57 on Friday. Broadcom Inc. has a twelve month low of $226.18 and a twelve month high of $442.36. The stock's fifty day simple moving average is $371.85 and its 200-day simple moving average is $355.68. The company has a current ratio of 1.90, a quick ratio of 1.73 and a debt-to-equity ratio of 0.80. The firm has a market capitalization of $1.96 trillion, a P/E ratio of 80.97, a P/E/G ratio of 0.86 and a beta of 1.43.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted 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 business 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 earned $1.60 earnings per share. The company's revenue was up 29.5% on a year-over-year basis. As a group, equities analysts expect that Broadcom Inc. will post 9.97 earnings per share for the current fiscal year.

Broadcom Announces Dividend

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

Insiders Place Their Bets

In related news, CFO Kirsten M. Spears sold 36,292 shares of the stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $321.60, for a total value of $11,671,507.20. Following the transaction, the chief financial officer owned 327,760 shares of the company's stock, valued at $105,407,616. This represents a 9.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider S. Ram Velaga sold 38,841 shares of the stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $321.60, for a total value of $12,491,265.60. Following the completion of the transaction, the insider directly owned 96,147 shares in the company, valued at $30,920,875.20. This trade represents a 28.77% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 324,282 shares of company stock worth $106,425,249. 1.90% of the stock is owned by corporate insiders.

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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