Daiwa Securities Group Inc. boosted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 10.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,136,360 shares of the semiconductor manufacturer's stock after buying an additional 309,336 shares during the period. Broadcom comprises 3.5% of Daiwa Securities Group Inc.'s portfolio, making the stock its 6th largest holding. Daiwa Securities Group Inc. owned approximately 0.07% of Broadcom worth $1,085,559,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of AVGO. Brown Brothers Harriman & Co. raised its holdings in shares of Broadcom by 10.7% in the third quarter. Brown Brothers Harriman & Co. now owns 77,411 shares of the semiconductor manufacturer's stock valued at $25,539,000 after buying an additional 7,499 shares during the last quarter. Dana Investment Advisors Inc. raised its holdings in shares of Broadcom by 2.6% in the third quarter. Dana Investment Advisors Inc. now owns 173,759 shares of the semiconductor manufacturer's stock valued at $57,325,000 after buying an additional 4,442 shares during the last quarter. Guinness Atkinson Asset Management Inc raised its holdings in shares of Broadcom by 248.2% in the third quarter. Guinness Atkinson Asset Management Inc now owns 26,238 shares of the semiconductor manufacturer's stock valued at $8,603,000 after buying an additional 18,703 shares during the last quarter. Sovran Advisors LLC raised its holdings in shares of Broadcom by 121.3% in the fourth quarter. Sovran Advisors LLC now owns 30,631 shares of the semiconductor manufacturer's stock valued at $10,507,000 after buying an additional 16,789 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. raised its holdings in shares of Broadcom by 406.1% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 11,994 shares of the semiconductor manufacturer's stock valued at $4,151,000 after buying an additional 9,624 shares during the last quarter. Institutional investors and hedge funds own 76.43% of the company's stock.
Broadcom Price Performance
Broadcom stock opened at $385.73 on Monday. The firm has a market capitalization of $1.83 trillion, a P/E ratio of 64.29, a PEG ratio of 0.70 and a beta of 1.41. Broadcom Inc. has a 1 year low of $241.11 and a 1 year high of $495.00. The business has a 50-day moving average of $396.22 and a 200-day moving average of $362.04. The company has a current ratio of 2.24, a quick ratio of 2.01 and a debt-to-equity ratio of 0.71.
Broadcom (NASDAQ:AVGO - Get Free Report) last posted its earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.40 by $0.04. Broadcom had a return on equity of 41.61% and a net margin of 38.85%.The company had revenue of $22.19 billion during the quarter, compared to analyst estimates of $22.13 billion. During the same period in the previous year, the company earned $1.58 EPS. The company's revenue for the quarter was up 47.9% compared to the same quarter last year. On average, equities analysts anticipate that Broadcom Inc. will post 9.97 EPS for the current year.
Broadcom Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 22nd will be given a $0.65 dividend. The ex-dividend date is Monday, June 22nd. This represents a $2.60 annualized dividend and a dividend yield of 0.7%. Broadcom's payout ratio is currently 43.33%.
Key Broadcom News
Here are the key news stories impacting Broadcom this week:
- Positive Sentiment: Broadcom posted record quarterly revenue, beat earnings estimates, and said AI semiconductor demand remains strong, supporting the long-term growth story. Broadcom Q2 Earnings Surpasses Estimates, Revenues Surge Y/Y
- Positive Sentiment: Several analysts remain bullish and raised price targets after the pullback, arguing the market is overreacting to expectations rather than fundamentals. Goldman Sachs urges investors to buy Broadcom dip with still AI revenue trajectory intact
- Positive Sentiment: Management still expects AI revenue to reach $56 billion in fiscal 2026 and more than $100 billion in fiscal 2027, keeping the longer-term AI thesis intact. AVGO Shares Drop 13% Post Q2 Results: Buy, Sell or Hold on the Dip?
- Neutral Sentiment: Broadcom also declared a quarterly dividend, which is supportive for income investors but not a major near-term stock driver.
- Negative Sentiment: The stock is under pressure because the AI outlook, while strong, was not upgraded enough to satisfy investors who had priced in an even bigger upside surprise. Broadcom's sales and AI chip forecast comes in below expectations, shares tumble
- Negative Sentiment: The disappointment has spilled over into the semiconductor sector, pressuring peers such as AMD, Intel, Micron, and Marvell as investors reassess AI trade valuations. Intel, AMD stocks slide again in aftermath of Broadcom's weak outlook
Insiders Place Their Bets
In related news, insider Charlie B. Kawwas sold 39,116 shares of the business's stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $321.61, for a total value of $12,580,096.76. Following the completion of the transaction, the insider directly owned 74,626 shares in the company, valued at approximately $24,000,467.86. The trade was a 34.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider S. Ram Velaga sold 38,841 shares of the business's 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 $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 ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 324,282 shares of company stock valued at $106,425,249 over the last 90 days. 1.90% of the stock is owned by company insiders.
Analysts Set New Price Targets
A number of research analysts recently issued reports on the company. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $545.00 price target (up from $430.00) on shares of Broadcom in a report on Thursday, May 14th. JPMorgan Chase & Co. lifted their price target on Broadcom from $500.00 to $580.00 and gave the company an "overweight" rating in a report on Thursday. Rosenblatt Securities reaffirmed a "buy" rating and issued a $500.00 price target on shares of Broadcom in a report on Thursday. UBS Group set a $485.00 price target on Broadcom and gave the company a "buy" rating in a report on Thursday. Finally, KeyCorp reaffirmed an "overweight" rating and issued a $575.00 price target (up from $500.00) on shares of Broadcom in a report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $490.13.
Check Out Our Latest Stock Report on AVGO
Broadcom Company 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.
Further Reading
Want to see what other hedge funds are holding AVGO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Broadcom Inc. (NASDAQ:AVGO - Free Report).
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