Broadcom Inc. $AVGO Shares Purchased by World Investment Advisors

Key Points

• World Investment Advisors boosted its Broadcom stake by 16.1% in the fourth quarter, ending with 177,710 shares valued at about $61.5 million.
• Several institutional investors and hedge funds have recently taken new positions in Broadcom, while institutions overall own 76.43% of the stock.
• Broadcom reported strong quarterly results, beating EPS and revenue estimates, and analysts remain mostly bullish with a consensus rating of “Moderate Buy” and an average price target of $442.13.

World Investment Advisors increased its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 16.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 177,710 shares of the semiconductor manufacturer's stock after acquiring an additional 24,703 shares during the quarter. Broadcom makes up approximately 1.0% of World Investment Advisors' holdings, making the stock its 13th biggest holding. World Investment Advisors' holdings in Broadcom were worth $61,505,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Miller Global Investments LLC acquired a new stake in Broadcom during the fourth quarter worth approximately $31,000. JCIC Asset Management Inc. acquired a new position in shares of Broadcom in the 3rd quarter valued at $31,000. Nvest Wealth Strategies Inc. acquired a new position in shares of Broadcom in the 4th quarter valued at $33,000. Family CFO Inc acquired a new position in shares of Broadcom in the 4th quarter valued at $35,000. Finally, Manning & Napier Advisors LLC acquired a new position in shares of Broadcom in the 3rd quarter valued at $34,000. Institutional investors and hedge funds own 76.43% of the company's stock.

Insider Buying and Selling at Broadcom

In related news, CFO Kirsten M. Spears sold 36,292 shares of Broadcom stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $321.60, for a total transaction of $11,671,507.20. Following the transaction, the chief financial officer owned 327,760 shares in the company, valued at approximately $105,407,616. The trade was a 9.97% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Charlie B. Kawwas sold 39,116 shares of Broadcom stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $321.61, for a total transaction of $12,580,096.76. Following the transaction, the insider owned 74,626 shares in the company, valued at $24,000,467.86. The trade was a 34.39% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 324,282 shares of company stock worth $106,425,249. Insiders own 1.90% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on AVGO. Benchmark reiterated a "buy" rating and issued a $485.00 price target on shares of Broadcom in a report on Thursday, March 5th. DA Davidson upgraded shares of Broadcom to a "hold" rating in a report on Friday, February 13th. Zacks Research upgraded shares of Broadcom from a "hold" rating to a "strong-buy" rating in a report on Thursday, April 2nd. TD Cowen reiterated a "buy" rating and issued a $500.00 price target (up from $405.00) on shares of Broadcom in a report on Friday. Finally, Rosenblatt Securities reiterated a "buy" rating and issued a $500.00 price target on shares of Broadcom in a report on Tuesday, April 7th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $442.13.

Broadcom Stock Performance

NASDAQ:AVGO opened at $420.71 on Tuesday. 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 $1.99 trillion, a price-to-earnings ratio of 82.17, a PEG ratio of 0.88 and a beta of 1.43. The firm's fifty day simple moving average is $367.36 and its 200 day simple moving average is $354.90. Broadcom Inc. has a twelve month low of $221.60 and a twelve month high of $442.36.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its earnings results on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 earnings per share for the quarter, beating the consensus estimate of $2.03 by $0.02. The business had revenue of $19.31 billion for the quarter, compared to analyst estimates of $19.10 billion. Broadcom had a net margin of 36.57% and a return on equity of 38.61%. The business's quarterly revenue was up 29.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.60 EPS. As a group, equities research analysts expect that Broadcom Inc. will post 9.95 earnings per share for the current fiscal year.

Broadcom Announces Dividend

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

Key Broadcom News

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom renewed its long-standing technology partnership with LSEG in a new five-year agreement centered on VMware Cloud Foundation, which expands Broadcom’s role in a mission-critical financial market infrastructure environment and reinforces recurring software demand. Article: LSEG Renews Partnership with Broadcom to Enhance Technology Infrastructure and Client Experience
• Positive Sentiment: The agreement includes Broadcom professional services to help roll out VMware Cloud Foundation 9, suggesting additional implementation revenue and deeper customer stickiness over time. Article: LSEG Renews Partnership with Broadcom to Enhance Technology Infrastructure and Client Experience
• Neutral Sentiment: Recent commentary continues to highlight Broadcom’s strong AI-related revenue growth and multiple bullish analyst price targets, which may help keep investor sentiment constructive. Article: ALAB vs. AVGO: Which AI Infrastructure Stock Is the Better Buy Now?
• Negative Sentiment: Despite the positive partnership news, Broadcom has recently been trading lower than the broader market, reflecting some near-term caution after a strong run-up. Article: Broadcom Inc. (AVGO) Declines More Than Market: Some Information for Investors

Broadcom Company 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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