Maxi Investments CY Ltd Takes Position in Broadcom Inc. $AVGO

Key Points

• Maxi Investments CY Ltd opened a new position in Broadcom during the fourth quarter, buying 4,250 shares valued at about $1.47 million.
• Broadcom reported strong quarterly results, with EPS of $2.05 and revenue of $19.31 billion, both slightly ahead of estimates and up sharply from a year earlier.
• Investor sentiment remains upbeat: analysts are raising price targets on Broadcom amid AI-driven demand, while the stock’s valuation is high and insiders have also recently sold shares.

Maxi Investments CY Ltd purchased a new position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 4,250 shares of the semiconductor manufacturer's stock, valued at approximately $1,471,000.

Other hedge funds have also bought and sold shares of the company. International Assets Investment Management LLC increased its holdings in Broadcom by 7.7% in the fourth quarter. International Assets Investment Management LLC now owns 62,368 shares of the semiconductor manufacturer's stock valued at $21,585,000 after buying an additional 4,454 shares during the last quarter. Coston McIsaac & Partners lifted its holdings in Broadcom by 99.2% during the 4th quarter. Coston McIsaac & Partners now owns 1,235 shares of the semiconductor manufacturer's stock worth $427,000 after buying an additional 615 shares during the last quarter. Winch Advisory Services LLC lifted its holdings in Broadcom by 6.9% during the 4th quarter. Winch Advisory Services LLC now owns 1,489 shares of the semiconductor manufacturer's stock worth $515,000 after buying an additional 96 shares during the last quarter. MGO One Seven LLC grew its position in shares of Broadcom by 7.8% in the 4th quarter. MGO One Seven LLC now owns 175,108 shares of the semiconductor manufacturer's stock worth $60,605,000 after acquiring an additional 12,704 shares in the last quarter. Finally, MPS Loria Financial Planners LLC increased its holdings in shares of Broadcom by 4.0% in the 4th quarter. MPS Loria Financial Planners LLC now owns 1,890 shares of the semiconductor manufacturer's stock valued at $654,000 after acquiring an additional 72 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Broadcom Price Performance

Shares of AVGO opened at $439.79 on Friday. Broadcom Inc. has a 12 month low of $221.60 and a 12 month high of $442.36. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.90 and a quick ratio of 1.73. The stock has a fifty day moving average price of $363.46 and a 200 day moving average price of $354.12. The company has a market cap of $2.08 trillion, a P/E ratio of 85.90, a PEG ratio of 0.86 and a beta of 1.43.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its quarterly earnings results on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.03 by $0.02. The company 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%. During the same quarter in the previous year, the company posted $1.60 earnings per share. The company's revenue for the quarter was up 29.5% compared to the same quarter last year. On average, research analysts forecast that Broadcom Inc. will post 9.95 earnings per share for the current year.

Broadcom Announces Dividend

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

Insider Activity

In other news, insider Charlie B. Kawwas sold 39,116 shares of Broadcom stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $321.61, for a total transaction of $12,580,096.76. Following the sale, the insider owned 74,626 shares of the company's stock, valued at approximately $24,000,467.86. The trade was a 34.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Mark David Brazeal sold 50,488 shares of the stock in a transaction that occurred on 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 completion of the transaction, the insider directly 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 SEC filing for this sale provides additional information. Insiders have sold a total of 324,282 shares of company stock worth $106,425,249 in the last quarter. Company 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: 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

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on AVGO shares. Weiss Ratings lowered Broadcom from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Friday, April 24th. Mizuho reaffirmed an "outperform" rating and issued a $480.00 price objective on shares of Broadcom in a report on Thursday, April 16th. Wells Fargo & Company reiterated an "overweight" rating and set a $545.00 target price (up from $430.00) on shares of Broadcom in a research note on Thursday. DA Davidson raised shares of Broadcom to a "hold" rating in a report on Friday, February 13th. Finally, Truist Financial raised their price target on shares of Broadcom from $510.00 to $545.00 and gave the stock a "buy" rating in a research report on Thursday, March 5th. Two analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $439.97.

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.

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.