Eurizon SLJ Capital Ltd Buys New Shares in Broadcom Inc. $AVGO

Key Points

• Eurizon SLJ Capital Ltd initiated a new position in Broadcom during the fourth quarter, buying 6,441 shares valued at about $2.23 million. The stake represents 0.9% of the firm’s portfolio and Broadcom is now its 28th-largest holding.
• Broadcom continues to attract major institutional interest, with giants like Vanguard, Geode, and Invesco adding to their positions. In total, 76.43% of Broadcom’s shares are owned by hedge funds and other institutional investors.
• Analyst sentiment remains mostly bullish, though mixed: several firms raised price targets, and the consensus rating is “Moderate Buy” with an average target price of $455.07. However, some analysts have recently trimmed ratings, and the stock is trading near its 52-week high ahead of earnings.

Eurizon SLJ Capital Ltd 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 firm bought 6,441 shares of the semiconductor manufacturer's stock, valued at approximately $2,229,000. Broadcom accounts for 0.9% of Eurizon SLJ Capital Ltd's investment portfolio, making the stock its 28th largest holding.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in Broadcom by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 482,707,302 shares of the semiconductor manufacturer's stock valued at $167,064,997,000 after purchasing an additional 3,919,715 shares during the period. Geode Capital Management LLC raised its stake in Broadcom by 1.4% in the fourth quarter. Geode Capital Management LLC now owns 111,277,280 shares of the semiconductor manufacturer's stock valued at $38,396,634,000 after buying an additional 1,548,699 shares in the last quarter. Invesco Ltd. raised its stake in Broadcom by 1.8% in the third quarter. Invesco Ltd. now owns 39,149,651 shares of the semiconductor manufacturer's stock valued at $12,915,861,000 after buying an additional 700,021 shares in the last quarter. Legal & General Group Plc raised its stake in Broadcom by 2.3% in the third quarter. Legal & General Group Plc now owns 33,450,786 shares of the semiconductor manufacturer's stock valued at $11,035,749,000 after buying an additional 748,709 shares in the last quarter. Finally, Franklin Resources Inc. raised its stake in Broadcom by 4.0% in the third quarter. Franklin Resources Inc. now owns 29,511,195 shares of the semiconductor manufacturer's stock valued at $9,736,038,000 after buying an additional 1,124,590 shares in the last quarter. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on AVGO. Truist Financial raised their price target on Broadcom from $510.00 to $545.00 and gave the company a "buy" rating in a research note on Thursday, March 5th. Citigroup restated a "buy" rating and issued a $500.00 price target (up from $475.00) on shares of Broadcom in a research note on Tuesday, May 12th. UBS Group restated a "buy" rating and issued a $490.00 price target (up from $475.00) on shares of Broadcom in a research note on Monday, May 18th. Zacks Research cut Broadcom from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 21st. Finally, Weiss Ratings upgraded Broadcom from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday, May 27th. One equities research 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, the company presently has a consensus rating of "Moderate Buy" and an average target price of $455.07.

Insider Buying and Selling

In related news, insider Mark David Brazeal sold 50,488 shares of the business's stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $321.60, for a total value of $16,236,940.80. Following 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 position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Kirsten M. Spears sold 36,292 shares of the business'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 $11,671,507.20. Following the completion of the transaction, the chief financial officer owned 327,760 shares in the company, valued at $105,407,616. This trade represents a 9.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 324,282 shares of company stock worth $106,425,249. Insiders own 1.90% of the company's stock.

Key Headlines Impacting 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 Stock Up 4.7%

AVGO opened at $481.57 on Wednesday. The business's 50-day simple moving average is $386.31 and its 200-day simple moving average is $359.32. 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 Inc. has a one year low of $241.11 and a one year high of $488.82. The stock has a market capitalization of $2.28 trillion, a P/E ratio of 94.06, a price-to-earnings-growth ratio of 0.95 and a beta of 1.41.

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

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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