Legato Capital Management LLC Has $15.21 Million Stock Holdings in Broadcom Inc. $AVGO

Key Points

• Legato Capital Management increased its Broadcom stake by 56.3% in the fourth quarter, holding 43,935 shares valued at about $15.21 million. Broadcom is now its third-largest position and makes up roughly 1.3% of the portfolio.
• Broadcom continues to attract heavy institutional ownership, with large investors like Vanguard, Invesco, and Legal & General also adding shares. Overall, about 76.43% of Broadcom’s stock is owned by hedge funds and other institutions.
• The company recently beat quarterly earnings estimates and posted 29.5% year-over-year revenue growth, while analysts maintain a Moderate Buy consensus with an average price target of $453.17.

Legato Capital Management LLC boosted its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 56.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 43,935 shares of the semiconductor manufacturer's stock after buying an additional 15,819 shares during the period. Broadcom makes up about 1.3% of Legato Capital Management LLC's portfolio, making the stock its 3rd biggest holding. Legato Capital Management LLC's holdings in Broadcom were worth $15,206,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in Broadcom by 0.8% during 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. Invesco Ltd. raised its position in Broadcom by 1.8% during the third quarter. Invesco Ltd. now owns 39,149,651 shares of the semiconductor manufacturer's stock valued at $12,915,861,000 after purchasing an additional 700,021 shares during the period. Legal & General Group Plc raised its position in Broadcom by 2.3% during 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 purchasing an additional 748,709 shares during the period. Franklin Resources Inc. raised its position in Broadcom by 4.0% during 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 purchasing an additional 1,124,590 shares during the period. Finally, Amundi raised its position in Broadcom by 3.3% during the third quarter. Amundi now owns 22,216,816 shares of the semiconductor manufacturer's stock valued at $7,453,320,000 after purchasing an additional 716,523 shares during the period. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

AVGO has been the topic of a number of recent research reports. DA Davidson upgraded Broadcom to a "hold" rating in a research report on Friday, February 13th. Citigroup restated a "buy" rating and set a $500.00 price objective (up from $475.00) on shares of Broadcom in a research report on Tuesday, May 12th. Benchmark restated a "buy" rating and set a $485.00 price objective on shares of Broadcom in a research report on Thursday, March 5th. Wells Fargo & Company restated an "overweight" rating and set a $545.00 price objective (up from $430.00) on shares of Broadcom in a research report on Thursday, May 14th. Finally, Wolfe Research upgraded Broadcom from a "peer perform" rating to an "outperform" rating and set a $400.00 price target on the stock in a report on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-six have given a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $453.17.

Broadcom Trading Down 0.0%

Shares of NASDAQ AVGO opened at $421.86 on Thursday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.73 and a current ratio of 1.90. The business's 50 day moving average price is $378.80 and its 200-day moving average price is $357.40. Broadcom Inc. has a fifty-two week low of $234.43 and a fifty-two week high of $442.36. The company has a market cap of $2.00 trillion, a price-to-earnings ratio of 82.39, a PEG ratio of 0.87 and a beta of 1.43.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its earnings results on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 earnings per share for the quarter, beating analysts' consensus estimates of $2.03 by $0.02. The business 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%.Broadcom's revenue was up 29.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.60 EPS. On average, sell-side analysts expect that Broadcom Inc. will post 9.91 earnings per share for the current year.

Broadcom Dividend Announcement

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

Insider Buying and Selling at Broadcom

In other Broadcom news, Director Gayla J. Delly sold 1,000 shares of Broadcom stock in a transaction on 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 $11,592,045.12. The trade was a 3.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Charlie B. Kawwas sold 10,000 shares of Broadcom stock in a transaction on Wednesday, April 8th. The shares were sold at an average price of $345.23, for a total value of $3,452,300.00. Following the sale, the insider directly owned 787,184 shares of the company's stock, valued at approximately $271,759,532.32. This trade represents a 1.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 324,282 shares of company stock worth $106,425,249 over the last quarter. 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 unveiled the industry’s first integrated Wi‑Fi 8 SoCs for mesh and multi-gigabit routers, extending its leadership in home networking chips and strengthening its position in a key growth market. Article Title
• Positive Sentiment: The company also launched the BCM68850, a 50G PON home gateway SoC with an integrated neural processor and Wi‑Fi 8 support, highlighting Broadcom’s push into edge AI and residential broadband infrastructure. Article Title
• Positive Sentiment: Broadcom’s collaboration with Samsung on a 5G and Wi‑Fi 8 fixed wireless access platform suggests expanding design wins and could support future revenue growth in broadband connectivity. Article Title
• Neutral Sentiment: Analysts continue to rate Broadcom a “Moderate Buy,” which supports a constructive but not dramatically changed view of the stock. Article Title
• Neutral Sentiment: Some market commentary is shifting investor focus toward Qualcomm’s new AI chip deal and broader semiconductor AI winners, which may temporarily distract from Broadcom’s momentum in the AI infrastructure trade. Article Title

About Broadcom

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.

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.