International Assets Investment Management LLC Has $21.59 Million Stake in Broadcom Inc. $AVGO

Key Points

• International Assets Investment Management LLC increased its Broadcom stake by 7.7% in the fourth quarter, ending with 62,368 shares valued at about $21.6 million.
• Broadcom continues to attract major institutional support, with firms like Vanguard, Invesco, and others also boosting holdings; institutional investors and hedge funds now own 76.43% of the company.
• The stock has been moving higher on strong fundamentals, as Broadcom recently beat quarterly earnings and revenue expectations and analysts maintain a Moderate Buy consensus with an average price target of $439.97.

International Assets Investment Management LLC boosted its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 7.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 62,368 shares of the semiconductor manufacturer's stock after acquiring an additional 4,454 shares during the quarter. Broadcom accounts for approximately 1.2% of International Assets Investment Management LLC's investment portfolio, making the stock its 14th biggest holding. International Assets Investment Management LLC's holdings in Broadcom were worth $21,585,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in AVGO. Vanguard Group Inc. raised its stake 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 buying an additional 3,919,715 shares during the period. Invesco Ltd. boosted its stake in shares of Broadcom by 1.8% during the 3rd quarter. Invesco Ltd. now owns 39,149,651 shares of the semiconductor manufacturer's stock worth $12,915,861,000 after acquiring an additional 700,021 shares during the period. Legal & General Group Plc increased its holdings in shares of Broadcom by 2.3% during the 3rd quarter. Legal & General Group Plc now owns 33,450,786 shares of the semiconductor manufacturer's stock worth $11,035,749,000 after acquiring an additional 748,709 shares during the last quarter. Franklin Resources Inc. increased its holdings in shares of Broadcom by 4.0% during the 3rd quarter. Franklin Resources Inc. now owns 29,511,195 shares of the semiconductor manufacturer's stock worth $9,736,038,000 after acquiring an additional 1,124,590 shares during the last quarter. Finally, Amundi raised its stake in Broadcom by 3.3% in the 3rd quarter. Amundi now owns 22,216,816 shares of the semiconductor manufacturer's stock valued at $7,453,320,000 after acquiring an additional 716,523 shares during the period. Institutional investors and hedge funds own 76.43% of the company's stock.

Insider Activity at Broadcom

In related news, insider S. Ram Velaga sold 8,000 shares of the business's stock in a transaction dated Friday, April 10th. The stock was sold at an average price of $370.52, for a total value of $2,964,160.00. Following the completion of the transaction, the insider owned 57,932 shares of the company's stock, valued at $21,464,964.64. The trade was a 12.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Mark David Brazeal sold 50,488 shares of the company's stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $321.60, for a total transaction of $16,236,940.80. Following the sale, the insider directly owned 278,141 shares of the company's stock, valued at $89,450,145.60. This represents a 15.36% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 324,282 shares of company stock worth $106,425,249 in the last quarter. 1.90% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have commented on AVGO. Wolfe Research raised shares of Broadcom from a "peer perform" rating to an "outperform" rating and set a $400.00 price objective for the company in a research report on Friday, January 30th. Truist Financial increased their price objective on shares of Broadcom from $510.00 to $545.00 and gave the company a "buy" rating in a research report on Thursday, March 5th. Seaport Research Partners restated a "neutral" rating on shares of Broadcom in a research note on Wednesday, April 8th. Erste Group Bank downgraded shares of Broadcom from a "buy" rating to a "hold" rating in a report on Thursday, April 2nd. Finally, Benchmark reissued a "buy" rating and issued a $485.00 price target on shares of Broadcom in a report on Thursday, March 5th. Two analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, Broadcom has an average rating of "Moderate Buy" and a consensus target price of $439.97.

Broadcom Trading Up 5.5%

AVGO stock opened at $439.79 on Friday. Broadcom Inc. has a 52 week low of $221.60 and a 52 week high of $442.36. The company has a market capitalization of $2.08 trillion, a PE ratio of 85.90, a price-to-earnings-growth ratio of 0.86 and a beta of 1.43. The company's 50-day simple moving average is $363.46 and its 200 day simple moving average is $354.12. 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 issued its quarterly earnings data on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 earnings per share for the quarter, topping the consensus estimate of $2.03 by $0.02. Broadcom had a net margin of 36.57% and a return on equity of 38.61%. The business had revenue of $19.31 billion during the quarter, compared to analysts' expectations of $19.10 billion. During the same quarter in the previous year, the company earned $1.60 EPS. The business's revenue was up 29.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Broadcom Inc. will post 9.95 earnings per share for the current year.

Broadcom Dividend Announcement

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

More Broadcom News

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Wells Fargo and other analysts turned more bullish on Broadcom’s AI chip and data-center networking business, saying Wall Street may be underestimating demand from hyperscaler buildouts. Article Title
• Positive Sentiment: Broadcom is being framed as one of the main winners of the AI capital-spending cycle, with multiple articles highlighting accelerating custom AI silicon revenue and expectations for continued earnings growth into the next report. Article Title
• Positive Sentiment: Investor sentiment was also helped by major institutions and high-profile investors continuing to add to Broadcom positions, reinforcing the view that the AI thesis remains intact. Article Title
• Neutral Sentiment: Broadcom’s valuation remains elevated after its sharp run, so the stock may be sensitive to any sign that AI growth slows or expectations become too optimistic.
• Negative Sentiment: The company is also facing an EU antitrust lawsuit over VMware-related document requests, which adds a legal overhang even though it is not the main driver of today’s move. Article Title

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.

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