Chase Investment Counsel Corp Boosts Stock Position in Broadcom Inc. $AVGO

Key Points

• Chase Investment Counsel Corp increased its Broadcom stake by 6.2% in the fourth quarter, bringing its holdings to 32,396 shares worth about $11.2 million. Broadcom now ranks as the firm’s fourth-largest position.
• Broadcom reported strong quarterly results, with EPS of $2.05 beating estimates and revenue of $19.31 billion topping forecasts. Revenue rose 29.5% year over year, and analysts expect continued profitability this fiscal year.
• The company recently paid a quarterly dividend of $0.65 per share, or $2.60 annually, for a yield of about 0.6%. Meanwhile, Wall Street remains constructive overall, with a consensus rating of Moderate Buy and a price target around $448.10.

Chase Investment Counsel Corp grew its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 6.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,396 shares of the semiconductor manufacturer's stock after purchasing an additional 1,896 shares during the quarter. Broadcom makes up about 3.1% of Chase Investment Counsel Corp's holdings, making the stock its 4th largest position. Chase Investment Counsel Corp's holdings in Broadcom were worth $11,212,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. Miller Global Investments LLC bought a new stake in Broadcom during the fourth quarter worth $31,000. JCIC Asset Management Inc. bought a new stake in Broadcom during the third quarter worth $31,000. Nvest Wealth Strategies Inc. bought a new stake in Broadcom during the fourth quarter worth $33,000. Family CFO Inc bought a new stake in Broadcom during the fourth quarter worth $35,000. Finally, PayPay Securities Corp lifted its holdings in Broadcom by 88.9% during the fourth quarter. PayPay Securities Corp now owns 119 shares of the semiconductor manufacturer's stock worth $41,000 after acquiring an additional 56 shares during the period. Institutional investors own 76.43% of the company's stock.

Broadcom Price Performance

NASDAQ:AVGO opened at $414.14 on Friday. The firm has a market capitalization of $1.96 trillion, a price-to-earnings ratio of 80.89, a P/E/G ratio of 0.86 and a beta of 1.43. Broadcom Inc. has a 52-week low of $226.18 and a 52-week high of $442.36. The stock has a fifty day moving average of $373.30 and a 200 day moving average of $356.09. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.73 and a current ratio of 1.90.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its quarterly earnings data on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.03 by $0.02. The company had revenue of $19.31 billion during the quarter, compared to analyst estimates of $19.10 billion. Broadcom had a return on equity of 38.61% and a net margin of 36.57%.The firm's quarterly revenue was up 29.5% on a year-over-year basis. During the same quarter last year, the company earned $1.60 earnings per share. On average, research analysts expect that Broadcom Inc. will post 9.91 EPS for the current fiscal year.

Broadcom Announces Dividend

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

Trending Headlines about Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom’s AI semiconductor business is showing rapid growth, with AI revenue more than doubling and stronger Q2 expectations tied to hyperscale demand. Broadcom Rides on Accelerating Semiconductor Revenues: What's Ahead?
• Positive Sentiment: Analysts continue to highlight Broadcom as one of Goldman Sachs’ strongest AI infrastructure bets, reinforcing optimism around its role in AI chips and networking. Why Broadcom (AVGO) Remains One of Goldman’s Strongest AI Infrastructure Bets
• Positive Sentiment: Broadcom is expanding its AI ecosystem through a $125 million research and talent hub with Meta and UCLA, plus packaging work with Applied Materials, which could support long-term growth. Broadcom’s AI Research Push Links Chip Packaging Advances To Growth Story
• Positive Sentiment: Several articles and analyst notes point to strong long-term upside, with Broadcom repeatedly described as a durable AI winner and a solid growth stock. Is Broadcom Inc. (AVGO) a Solid Growth Stock? 3 Reasons to Think "Yes"
• Neutral Sentiment: Commentary about Broadcom’s stock price in 2030 reflects bullish long-term AI expectations, but it does not appear to be a near-term catalyst. This Will be Broadcom’s Stock Price In 2030
• Neutral Sentiment: Broader market commentary and inflation worries have also been mentioned, but these articles do not identify a Broadcom-specific problem. Inflation Fears Weighed on Broadcom (AVGO) in Q1
• Negative Sentiment: One recent note says Broadcom remains “overcrowded,” suggesting valuation or positioning risk after a strong rally. Broadcom Is Far Too Overcrowded
• Negative Sentiment: Broadcom has also faced some regulatory scrutiny in the EU, which could create headline risk even as AI sentiment stays positive. Broadcom Inc. (AVGO) Challenges EU Regulators While Barclays Sees AI Upside

Insider Activity

In other Broadcom news, insider Charlie B. Kawwas sold 10,000 shares of Broadcom stock in a transaction dated Wednesday, April 8th. The stock was sold at an average price of $345.23, for a total transaction of $3,452,300.00. Following the completion of the sale, the insider owned 787,184 shares of the company's stock, valued at $271,759,532.32. The trade was a 1.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Gayla J. Delly sold 1,000 shares of Broadcom stock in a transaction dated Thursday, April 9th. The stock was sold at an average price of $358.31, for a total value of $358,310.00. Following the sale, the director directly owned 32,352 shares of the company's stock, valued at approximately $11,592,045.12. This trade represents a 3.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 324,282 shares of company stock valued at $106,425,249. 1.90% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Truist Financial lifted their price target on Broadcom from $510.00 to $545.00 and gave the stock a "buy" rating in a report on Thursday, March 5th. Mizuho reiterated an "outperform" rating and set a $480.00 price target on shares of Broadcom in a report on Thursday, April 16th. DA Davidson raised Broadcom to a "hold" rating in a research report on Friday, February 13th. Bank of America decreased their target price on Broadcom from $500.00 to $450.00 and set a "buy" rating for the company in a research report on Thursday, March 5th. Finally, Wolfe Research raised Broadcom from a "peer perform" rating to an "outperform" rating and set a $400.00 target price for the company in a research report on Friday, January 30th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $448.10.

Broadcom 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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