DnB Asset Management AS Boosts Stock Holdings in Broadcom Inc. $AVGO

Key Points

• DnB Asset Management AS increased its stake in Broadcom Inc. by 50.1%, holding approximately 1.4% of its total portfolio, equating to 1,763,313 shares valued at $295,231,000 at the end of the last quarter.
• Other institutional investors, including Nuveen LLC and Price T Rowe Associates, have significantly increased their holdings in Broadcom, reflecting strong institutional interest in the semiconductor sector.
• Analysts have raised their price targets for Broadcom, with Citigroup setting a target of $315 and Bank of America at $300, indicating positive sentiment about the company's growth potential.

DnB Asset Management AS raised its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 50.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,763,313 shares of the semiconductor manufacturer's stock after purchasing an additional 588,533 shares during the period. Broadcom accounts for 1.4% of DnB Asset Management AS's investment portfolio, making the stock its 10th biggest position. DnB Asset Management AS's holdings in Broadcom were worth $295,231,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of AVGO. Nuveen LLC bought a new position in Broadcom in the 1st quarter valued at $6,649,117,000. Price T Rowe Associates Inc. MD boosted its position in shares of Broadcom by 37.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 65,509,579 shares of the semiconductor manufacturer's stock valued at $10,968,270,000 after acquiring an additional 17,985,046 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of Broadcom by 18,179.3% during the 1st quarter. GAMMA Investing LLC now owns 17,276,164 shares of the semiconductor manufacturer's stock valued at $2,892,548,000 after acquiring an additional 17,181,652 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Broadcom by 16.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 31,854,414 shares of the semiconductor manufacturer's stock valued at $5,333,384,000 after acquiring an additional 4,550,647 shares during the last quarter. Finally, Deutsche Bank AG boosted its position in shares of Broadcom by 36.9% during the 1st quarter. Deutsche Bank AG now owns 15,758,895 shares of the semiconductor manufacturer's stock valued at $2,638,512,000 after acquiring an additional 4,245,345 shares during the last quarter. 76.43% of the stock is owned by institutional investors.

Broadcom Price Performance

Shares of Broadcom stock traded up $28.79 during trading on Friday, hitting $334.89. 78,318,626 shares of the stock traded hands, compared to its average volume of 17,635,120. The company has a quick ratio of 0.98, a current ratio of 1.08 and a debt-to-equity ratio of 0.89. The stock has a market cap of $1.58 trillion, a price-to-earnings ratio of 85.43, a PEG ratio of 2.38 and a beta of 1.16. The firm's fifty day moving average is $292.09 and its 200-day moving average is $237.31. Broadcom Inc. has a 52 week low of $134.90 and a 52 week high of $356.34.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its quarterly earnings data on Thursday, September 4th. The semiconductor manufacturer reported $1.69 EPS for the quarter, beating the consensus estimate of $1.66 by $0.03. Broadcom had a return on equity of 37.17% and a net margin of 31.59%.The firm had revenue of $15.95 billion for the quarter, compared to analyst estimates of $15.82 billion. During the same period in the prior year, the company earned $1.24 EPS. The company's revenue was up 22.0% on a year-over-year basis. Broadcom has set its Q4 2025 guidance at EPS. Research analysts expect that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 22nd will be paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Monday, September 22nd. Broadcom's payout ratio is 60.20%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Piper Sandler lifted their price target on Broadcom from $315.00 to $375.00 and gave the company an "overweight" rating in a research report on Friday. Evercore ISI reiterated an "outperform" rating and set a $342.00 price target (up previously from $304.00) on shares of Broadcom in a research report on Thursday. Mizuho lifted their price target on Broadcom from $320.00 to $355.00 and gave the company an "outperform" rating in a research report on Friday. Citigroup lifted their price target on Broadcom from $315.00 to $350.00 and gave the company a "buy" rating in a research report on Friday. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and set a $300.00 price target on shares of Broadcom in a research note on Friday, June 6th. Three analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $351.00.

Insider Buying and Selling

In other news, Director Justine Page sold 800 shares of the business's stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $307.46, for a total value of $245,968.00. Following the completion of the sale, the director owned 23,782 shares of the company's stock, valued at approximately $7,312,013.72. The trade was a 3.25% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Gayla J. Delly sold 3,000 shares of the business's stock in a transaction dated Thursday, June 26th. The shares were sold at an average price of $265.13, for a total value of $795,390.00. Following the completion of the sale, the director directly owned 33,352 shares of the company's stock, valued at approximately $8,842,615.76. This trade represents a 8.25% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 830,516 shares of company stock worth $217,286,457 in the last 90 days. 2.00% of the stock is currently owned by company insiders.

Broadcom Company Profile

Broadcom Inc designs, develops, and supplies various semiconductor devices with a focus on complex digital and mixed signal complementary metal oxide semiconductor based devices and analog III-V based products worldwide. The company operates in two segments, Semiconductor Solutions and Infrastructure Software.