Eurizon Capital SGR S.p.A. Takes $977.35 Million Position in Broadcom Inc. $AVGO

Key Points

• Eurizon Capital SGR S.p.A. opened a new position in Broadcom during the fourth quarter, buying 2.82 million shares worth about $977.35 million. The stake now represents 3.0% of its portfolio and makes Broadcom its sixth-largest holding.
• Broadcom shares were up 4.7%, and the stock has been trading near its 52-week high after a strong run. The company’s market cap is about $2.28 trillion.
• Broadcom recently beat quarterly expectations, posting $2.05 EPS on $19.31 billion in revenue, while analysts remain broadly positive with a consensus Moderate Buy rating and average price target of $455.07.

Eurizon Capital SGR S.p.A. acquired a new stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 2,819,517 shares of the semiconductor manufacturer's stock, valued at approximately $977,354,000. Broadcom makes up 3.0% of Eurizon Capital SGR S.p.A.'s investment portfolio, making the stock its 6th largest holding. Eurizon Capital SGR S.p.A. owned approximately 0.06% of Broadcom at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in AVGO. Miller Global Investments LLC purchased a new position in shares of Broadcom during the fourth quarter valued at about $31,000. Nvest Wealth Strategies Inc. purchased a new position in shares of Broadcom during the fourth quarter valued at about $33,000. Family CFO Inc purchased a new position in shares of Broadcom during the fourth quarter valued at about $35,000. PayPay Securities Corp grew its position in shares of Broadcom by 88.9% during the fourth quarter. PayPay Securities Corp now owns 119 shares of the semiconductor manufacturer's stock valued at $41,000 after purchasing an additional 56 shares in the last quarter. Finally, Camelot Portfolios LLC purchased a new position in shares of Broadcom during the fourth quarter valued at about $45,000. Hedge funds and other institutional investors own 76.43% of the company's stock.

Broadcom Stock Up 4.7%

Shares of NASDAQ:AVGO opened at $481.57 on Wednesday. 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 company has a market cap of $2.28 trillion, a price-to-earnings ratio of 94.06, a PEG ratio of 0.95 and a beta of 1.41. Broadcom Inc. has a 12 month low of $241.11 and a 12 month high of $488.82. The company has a 50-day moving average price of $386.31 and a 200 day moving average price of $359.32.

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

Analysts Set New Price Targets

AVGO has been the subject of a number of research analyst reports. Zacks Research lowered Broadcom from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 21st. Weiss Ratings raised shares of Broadcom from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, May 27th. DA Davidson raised shares of Broadcom to a "hold" rating in a report on Friday, February 13th. 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. Finally, JPMorgan Chase & Co. increased their price target on shares of Broadcom from $475.00 to $500.00 and gave the company an "overweight" rating in a report on Thursday, March 5th. One analyst has rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, Broadcom presently has a consensus rating of "Moderate Buy" and an average target price of $455.07.

Insiders Place Their Bets

In other Broadcom news, insider Mark David Brazeal sold 50,488 shares of the firm's stock in a transaction dated 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 sale, the insider owned 278,141 shares of the company's stock, valued at $89,450,145.60. This trade represents a 15.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gayla J. Delly sold 1,000 shares of the firm's stock in a transaction dated Thursday, April 9th. The stock was sold at an average price of $358.31, for a total transaction of $358,310.00. Following the completion of the sale, the director directly owned 32,352 shares of the company's stock, valued at approximately $11,592,045.12. The trade was a 3.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 324,282 shares of company stock valued at $106,425,249 over the last quarter. Corporate insiders own 1.90% of the company's stock.

Trending Headlines about Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom is benefiting from the broader AI infrastructure buildout, especially Alphabet’s fundraising plans for more AI spending, which investors see as a tailwind for AI chip suppliers. Broadcom Stock Hit Another Record High. Why Google's Big AI Buildout Is a Boon for the Chipmaker
• Positive Sentiment: Oppenheimer reiterated a Buy rating on Broadcom ahead of earnings, signaling confidence that the company can deliver a strong quarter and support the stock’s premium valuation. Veteran Bank Makes Big Broadcom Call Before Earnings Report
• Positive Sentiment: Multiple recent notes raised price targets on Broadcom, including Morgan Stanley and Susquehanna, adding to bullish sentiment into the earnings report. Susquehanna and UBS Raise Broadcom (AVGO) Price Target Ahead of Results
• Positive Sentiment: Broadcom’s networking and AI-edge product announcements, including Wi-Fi 8 and broadband chips with AI capabilities, reinforce the company’s role in the AI ecosystem. Broadcom Connects the AI Edge with Comprehensive Multi-Gig Broadband and Wi-Fi 8 Innovations
• Neutral Sentiment: Analysts expect strong AI-related semiconductor revenue growth and VMware-led software contributions in the upcoming quarter, but investors are also watching for margin pressure from lower-margin XPU sales. Will Higher Semiconductor Revenues Help AVGO Stock Beat Q2 Earnings?
• Neutral Sentiment: Broadcom is trading at a premium valuation ahead of earnings, so while the AI story is strong, the stock may need a near-perfect report to keep the rally going. Broadcom Stock Hits Record High Ahead of Earnings
• Negative Sentiment: One published bearish view suggests some investors are positioning against Broadcom heading into earnings, reflecting concern that expectations may already be very high. Broadcom Inc. (AVGO): Leopold Aschenbrenner Reveals Bearish Bet

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.

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).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.