Cane Capital Partners LLC Takes $4.67 Million Position in Broadcom Inc. $AVGO

Key Points

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Cane Capital Partners LLC bought a new stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 13,494 shares of the semiconductor manufacturer's stock, valued at approximately $4,670,000. Broadcom comprises 1.8% of Cane Capital Partners LLC's holdings, making the stock its 14th largest holding.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Invesco Ltd. increased its position in 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 last quarter. Legal & General Group Plc increased its position in 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 last quarter. Franklin Resources Inc. increased its position in 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 last quarter. Amundi increased its position in Broadcom by 3.3% during the third quarter. Amundi now owns 22,216,816 shares of the semiconductor manufacturer's stock worth $7,453,320,000 after purchasing an additional 716,523 shares during the last quarter. Finally, Fisher Asset Management LLC increased its position in Broadcom by 1.9% during the third quarter. Fisher Asset Management LLC now owns 12,611,740 shares of the semiconductor manufacturer's stock worth $4,160,740,000 after purchasing an additional 237,295 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Citigroup raised their price objective on shares of Broadcom from $458.00 to $475.00 and gave the stock a "buy" rating in a research report on Thursday, March 5th. Morgan Stanley raised their price objective on shares of Broadcom from $462.00 to $470.00 and gave the stock an "overweight" rating in a research report on Friday, March 6th. Erste Group Bank cut shares of Broadcom from a "buy" rating to a "hold" rating in a research report on Thursday, April 2nd. Seaport Research Partners restated a "neutral" rating on shares of Broadcom in a research report on Wednesday, April 8th. Finally, Zacks Research upgraded shares of Broadcom from a "hold" rating to a "strong-buy" rating in a research report on Thursday, April 2nd. Two research analysts have rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, Broadcom has an average rating of "Moderate Buy" and a consensus target price of $435.30.

Broadcom Stock Up 2.2%

Shares of Broadcom stock opened at $379.81 on Tuesday. Broadcom Inc. has a 52-week low of $161.61 and a 52-week high of $414.61. The company has a 50 day moving average of $327.15 and a 200 day moving average of $343.46. The company has a quick ratio of 1.73, a current ratio of 1.90 and a debt-to-equity ratio of 0.80. The company has a market capitalization of $1.80 trillion, a P/E ratio of 74.18, a P/E/G ratio of 0.77 and a beta of 1.24.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its quarterly earnings results on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.03 by $0.02. Broadcom had a net margin of 36.57% and a return on equity of 38.61%. The company had revenue of $19.31 billion during the quarter, compared to the consensus estimate of $19.10 billion. During the same quarter in the previous year, the firm earned $1.60 earnings per share. The firm's quarterly revenue was up 29.5% on a year-over-year basis. As a group, research analysts forecast that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Monday, March 23rd were paid a $0.65 dividend. The ex-dividend date was Monday, March 23rd. This represents a $2.60 dividend on an annualized basis and a yield of 0.7%. Broadcom's payout ratio is currently 50.78%.

Insider Activity

In related news, insider Mark David Brazeal sold 50,488 shares of Broadcom stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $321.60, for a total value of $16,236,940.80. Following the completion of the transaction, the insider owned 278,141 shares in the company, valued at $89,450,145.60. The trade was a 15.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider S. Ram Velaga sold 38,841 shares of Broadcom 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 $12,491,265.60. Following the completion of the transaction, the insider owned 96,147 shares of the company's stock, valued at $30,920,875.20. This represents a 28.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 316,282 shares of company stock worth $103,461,089 over the last three months. Insiders own 1.90% of the company's stock.

Broadcom News Summary

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Alphabet/Google long-term deal boosts AI revenue visibility — a contract through 2031 covering future TPU generations has eased fears Google might shift suppliers, improving conviction in Broadcom's AI roadmap. Broadcom deal with Google signals stronger AI demand but long-term risks remain: UBS
• Positive Sentiment: Strong recent results and AI revenue growth — Broadcom reported record Q1 revenue with AI semiconductor revenue nearly doubling year-over-year, reinforcing growth expectations for custom AI chips and networking. Great News for Broadcom Stock Investors
• Positive Sentiment: Sector tailwind and technical breakout — analysts and market commentators note a semiconductor group breakout and momentum trade that is lifting AVGO alongside peers. Semiconductors Lead Rally: Broadcom, Marvell Breakout
• Neutral Sentiment: High investor attention / bullish media coverage — Broadcom is being highlighted as a momentum and “Bull of the Day” pick, which can attract flows but also increase short-term volatility. Broadcom Inc. (AVGO) is Attracting Investor Attention: Here is What You Should Know
• Negative Sentiment: Notable insider selling — several insiders have sold shares recently (including director Gayla J. Delly and other executives reporting multi-million-dollar disposals), which can be viewed as a near-term headwind for sentiment. Gayla J. Delly Insider Sale Filing Insider Selling: Broadcom Insider Sells
• Negative Sentiment: Structural risks remain — analysts (e.g., UBS) note customer-concentration and competitive pressures persist despite the Google deal, meaning long-term risk to margins and growth is not fully resolved. Broadcom deal with Google signals stronger AI demand but long-term risks remain: UBS

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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