LGT Fund Management Co Ltd. raised its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 310.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 255,765 shares of the semiconductor manufacturer's stock after purchasing an additional 193,432 shares during the quarter. Broadcom accounts for approximately 3.4% of LGT Fund Management Co Ltd.'s holdings, making the stock its 6th largest holding. LGT Fund Management Co Ltd.'s holdings in Broadcom were worth $79,162,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of AVGO. ROSS JOHNSON & Associates LLC boosted its position in Broadcom by 1,320.0% during the 4th quarter. ROSS JOHNSON & Associates LLC now owns 71 shares of the semiconductor manufacturer's stock worth $25,000 after acquiring an additional 66 shares during the last quarter. Networth Advisors LLC grew its stake in shares of Broadcom by 546.2% during the 1st quarter. Networth Advisors LLC now owns 84 shares of the semiconductor manufacturer's stock worth $26,000 after acquiring an additional 71 shares in the last quarter. SWAN Capital LLC raised its holdings in shares of Broadcom by 261.9% in the fourth quarter. SWAN Capital LLC now owns 76 shares of the semiconductor manufacturer's stock valued at $26,000 after purchasing an additional 55 shares during the last quarter. Miller Global Investments LLC bought a new stake in shares of Broadcom in the fourth quarter worth $31,000. Finally, Nvest Wealth Strategies Inc. bought a new stake in shares of Broadcom in the fourth quarter worth $33,000. 76.43% of the stock is currently owned by institutional investors.
Broadcom Stock Up 1.3%
AVGO opened at $394.28 on Thursday. Broadcom Inc. has a 1-year low of $273.00 and a 1-year high of $495.00. The stock's fifty day simple moving average is $403.23 and its 200 day simple moving average is $365.11. The company has a current ratio of 2.24, a quick ratio of 2.01 and a debt-to-equity ratio of 0.71. The stock has a market cap of $1.88 trillion, a PE ratio of 65.71, a price-to-earnings-growth ratio of 0.68 and a beta of 1.45.
Broadcom (NASDAQ:AVGO - Get Free Report) last released its quarterly earnings data on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 EPS for the quarter, topping analysts' consensus estimates of $2.40 by $0.04. Broadcom had a net margin of 38.85% and a return on equity of 41.61%. The firm had revenue of $22.19 billion during the quarter, compared to analysts' expectations of $22.13 billion. During the same period in the previous year, the business posted $1.58 earnings per share. The company's revenue for the quarter was up 47.9% compared to the same quarter last year. As a group, research analysts expect that Broadcom Inc. will post 10.24 earnings per share for the current year.
Broadcom Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 22nd were issued a dividend of $0.65 per share. The ex-dividend date of this dividend was Monday, June 22nd. This represents a $2.60 annualized dividend and a dividend yield of 0.7%. Broadcom's payout ratio is presently 43.33%.
Analysts Set New Price Targets
A number of research analysts recently weighed in on the stock. Bank of America raised their target price on shares of Broadcom from $450.00 to $530.00 and gave the company a "buy" rating in a research report on Thursday, June 4th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and set a $515.00 price target (up from $430.00) on shares of Broadcom in a research report on Thursday, June 4th. The Goldman Sachs Group restated a "buy" rating and set a $525.00 price objective on shares of Broadcom in a research note on Thursday, June 4th. TD Cowen restated a "buy" rating and issued a $500.00 price objective on shares of Broadcom in a report on Thursday, June 4th. Finally, Dbs Bank upgraded Broadcom to a "moderate buy" rating in a report on Thursday, June 18th. One analyst has rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat, Broadcom currently has a consensus rating of "Moderate Buy" and a consensus target price of $493.24.
View Our Latest Analysis on Broadcom
Key Broadcom News
Here are the key news stories impacting Broadcom this week:
- Positive Sentiment: Broadcom is being viewed as a major AI infrastructure winner, with recent coverage highlighting its accelerating AI revenue, record bookings, and strong customer partnerships. Snowflake vs. Broadcom: Which Enterprise AI Stock Is the Smarter Buy?
- Positive Sentiment: Wall Street commentary says Broadcom’s Apple agreement through 2031 is strategically positive and supports a durable revenue stream from custom chips and connectivity components. Why Broadcom (AVGO) Is Reinforcing Its Long-Term Growth With an Extended Apple Chip Partnership Through 2031
- Positive Sentiment: Analysts remain upbeat on Broadcom, with reports pointing to roughly 32.8% implied upside from the average price target and improving earnings estimate revisions. Wall Street Analysts See a 32.76% Upside in Broadcom Inc. (AVGO): Can the Stock Really Move This High?
- Positive Sentiment: Morgan Stanley called Broadcom a “core AI winner,” reinforcing the view that AVGO remains one of the main beneficiaries of AI spending. Broadcom is a 'core AI winner,' even as MediaTek encroaches, Morgan Stanley says
- Neutral Sentiment: Broadcom is also drawing heavy investor attention, which keeps the stock in focus but does not by itself change fundamentals. Broadcom Inc. (AVGO) Is a Trending Stock: Facts to Know Before Betting on It
- Negative Sentiment: Sentiment was tempered by reports that Broadcom executives sold shares, which can raise caution even though insider sales do not necessarily signal a business problem. Broadcom Executive Sells $10 Million in AVGO Stock. Is the Insider Sale a Warning Sign?
- Negative Sentiment: Reuters reported that five cloud business groups are urging EU regulators to suspend some Broadcom practices, adding a regulatory overhang to the name. Five cloud business groups urge EU interim measures against Broadcom
Insider Activity at Broadcom
In other news, Director Harry L. You acquired 1,000 shares of Broadcom stock in a transaction dated Thursday, June 11th. The stock was bought at an average price of $373.57 per share, for a total transaction of $373,570.00. Following the completion of the acquisition, the director directly owned 38,466 shares in the company, valued at approximately $14,369,743.62. The trade was a 2.67% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Gayla J. Delly sold 1,890 shares of the company's stock in a transaction that occurred on Wednesday, July 8th. The shares were sold at an average price of $385.38, for a total value of $728,368.20. Following the completion of the transaction, the director directly owned 31,326 shares in the company, valued at $12,072,413.88. The trade was a 5.69% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 61,644 shares of company stock worth $24,016,214. 1.90% of the stock is currently owned by corporate insiders.
Broadcom Profile
(
Free Report)
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.
See Also
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