Broadcom Inc. $AVGO Shares Purchased by Ascent Group LLC

Key Points

• Ascent Group LLC increased its stake in Broadcom by 3.3% to 82,566 shares (about $28.58M), representing ~1.0% of its portfolio and making AVGO its 22nd largest holding.
• Broadcom locked multi‑year AI supply agreements with Google and expanded commitments with Anthropic, giving multi‑year revenue visibility for its custom AI chips and networking products and supporting bullish analyst targets (consensus ~$435.30).
• Broadcom posted a quarterly EPS beat ($2.05 vs. $2.03) and revenue growth of 29.5% YoY, trades at a $1.68T market cap (PE ~69), but recent insider sales and some downgrades highlight valuation concerns.

Ascent Group LLC increased its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 3.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 82,566 shares of the semiconductor manufacturer's stock after purchasing an additional 2,600 shares during the quarter. Broadcom accounts for approximately 1.0% of Ascent Group LLC's investment portfolio, making the stock its 22nd largest holding. Ascent Group LLC's holdings in Broadcom were worth $28,576,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Invesco Ltd. lifted its holdings in shares of Broadcom by 1.8% during the third quarter. Invesco Ltd. now owns 39,149,651 shares of the semiconductor manufacturer's stock worth $12,915,861,000 after purchasing an additional 700,021 shares during the period. Legal & General Group Plc lifted its holdings in shares of Broadcom by 2.3% during the third quarter. Legal & General Group Plc now owns 33,450,786 shares of the semiconductor manufacturer's stock worth $11,035,749,000 after purchasing an additional 748,709 shares during the period. Alliancebernstein L.P. lifted its holdings in shares of Broadcom by 3.7% during the second quarter. Alliancebernstein L.P. now owns 30,598,590 shares of the semiconductor manufacturer's stock worth $8,434,501,000 after purchasing an additional 1,084,776 shares during the period. Franklin Resources Inc. lifted its holdings in shares of Broadcom by 4.0% during the third quarter. Franklin Resources Inc. now owns 29,511,195 shares of the semiconductor manufacturer's stock worth $9,736,038,000 after purchasing an additional 1,124,590 shares during the period. Finally, Ameriprise Financial Inc. lifted its holdings in shares of Broadcom by 3.0% during the second quarter. Ameriprise Financial Inc. now owns 26,990,925 shares of the semiconductor manufacturer's stock worth $7,450,161,000 after purchasing an additional 778,820 shares during the period. Institutional investors and hedge funds own 76.43% of the company's stock.

Broadcom Trading Up 1.2%

Shares of NASDAQ:AVGO opened at $354.91 on Friday. Broadcom Inc. has a 12-month low of $161.61 and a 12-month high of $414.61. The company has a market capitalization of $1.68 trillion, a PE ratio of 69.32, a PEG ratio of 0.73 and a beta of 1.24. The business has a 50 day moving average of $325.37 and a two-hundred day moving average of $342.86. The company has a current ratio of 1.90, a quick ratio of 1.73 and a debt-to-equity ratio of 0.80.

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, beating 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 company posted $1.60 earnings per share. As a group, analysts forecast that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Monday, March 23rd were paid a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Monday, March 23rd. Broadcom's dividend payout ratio is presently 50.78%.

Analysts Set New Price Targets

AVGO has been the subject of a number of research reports. DA Davidson raised Broadcom to a "hold" rating in a report on Friday, February 13th. Erste Group Bank downgraded Broadcom from a "buy" rating to a "hold" rating in a report on Thursday, April 2nd. JPMorgan Chase & Co. boosted their price target on Broadcom from $475.00 to $500.00 and gave the company an "overweight" rating in a report on Thursday, March 5th. TD Cowen reissued a "buy" rating on shares of Broadcom in a report on Friday, December 12th. Finally, Piper Sandler reissued an "overweight" rating and issued a $430.00 price target (up from $375.00) on shares of Broadcom in a report on Friday, December 12th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Broadcom currently has an average rating of "Moderate Buy" and a consensus price target of $435.30.

Key Headlines Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom locked multi‑year TPU and networking supply agreements with Google and expanded Anthropic commitments (including ~3.5 GW of TPU capacity starting 2027), giving multi‑year revenue visibility for chips and networking components. Broadcom Is Making AI Chips with Google. Does That Make AVGO Stock a Buy Now?
• Positive Sentiment: Market/industry coverage frames the Google deal as evidence Broadcom is competing with NVIDIA for hyperscaler AI infrastructure spend, supporting a narrative of structural demand growth for AVGO’s custom AI and networking products. Bloomberg: Broadcom's Google deal proves AI infrastructure demand competing with Nvidia
• Positive Sentiment: Wall Street analysts’ average price targets imply meaningful upside (Zacks highlights a ~33% consensus potential), and several bullish notes/coverage reiterations (e.g., Rosenblatt) are supporting buying interest. Wall Street Analysts Think Broadcom Inc. (AVGO) Could Surge 33.37% Rosenblatt Reiterates Buy for Broadcom
• Neutral Sentiment: Bank of America and other firms have updated forecasts and price targets (resets that reflect both the new deals and valuation questions) — useful for investors but not a clear directional signal alone. Bank of America resets Broadcom stock forecast
• Neutral Sentiment: Corporate developments include a new CFO appointment and product launches (Arcot Smart Ruleset); these are operationally relevant but are incremental versus the AI partnership news. Broadcom is getting a new CFO Broadcom Launches the Arcot Smart Ruleset
• Negative Sentiment: Seaport Global / Seaport Research recently downgraded Broadcom (cut to Neutral) and argued the company may be hitting industry limits — these downgrades increase short‑term sell pressure and raise valuation concerns among some institutional investors. Broadcom downgraded by Seaport Research Seaport Global downgrades Broadcom

Insiders Place Their Bets

In other news, CFO Kirsten M. Spears sold 36,292 shares of the company's stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $321.60, for a total transaction of $11,671,507.20. Following the completion of the transaction, the chief financial officer directly owned 327,760 shares of the company's stock, valued at $105,407,616. This represents a 9.97% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Charlie B. Kawwas sold 39,116 shares of the company's stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $321.61, for a total value of $12,580,096.76. Following the transaction, the insider directly owned 74,626 shares of the company's stock, valued at approximately $24,000,467.86. The trade was a 34.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 273,049 shares of company stock valued at $88,300,115. Corporate 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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