MGO One Seven LLC Grows Stock Position in Broadcom Inc. $AVGO

Key Points

• MGO One Seven LLC boosted its Broadcom stake by 7.8% in the fourth quarter, adding 12,704 shares to bring its total to 175,108 shares worth about $60.6 million.
• Broadcom reported better-than-expected quarterly results, with EPS of $2.05 and revenue of $19.31 billion, while revenue rose 29.5% year over year.
• Analysts remain constructive on AVGO, with several firms raising price targets and the stock currently carrying a Moderate Buy consensus and average target of $436.13.

MGO One Seven LLC increased its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 7.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 175,108 shares of the semiconductor manufacturer's stock after purchasing an additional 12,704 shares during the period. Broadcom makes up 1.2% of MGO One Seven LLC's portfolio, making the stock its 6th biggest position. MGO One Seven LLC's holdings in Broadcom were worth $60,605,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of AVGO. JCIC Asset Management Inc. bought a new position in shares of Broadcom during the 3rd quarter valued at about $31,000. Miller Global Investments LLC bought a new position in shares of Broadcom during the 4th quarter valued at about $31,000. Nvest Wealth Strategies Inc. bought a new position in shares of Broadcom during the 4th quarter valued at about $33,000. Manning & Napier Advisors LLC bought a new position in shares of Broadcom during the 3rd quarter valued at about $34,000. Finally, Family CFO Inc bought a new position in shares of Broadcom during the 4th quarter valued at about $35,000. Institutional investors own 76.43% of the company's stock.

Broadcom Stock Down 0.6%

NASDAQ:AVGO opened at $416.79 on Thursday. The firm has a market capitalization of $1.97 trillion, a price-to-earnings ratio of 81.40, a price-to-earnings-growth ratio of 0.87 and a beta of 1.43. Broadcom Inc. has a twelve month low of $221.60 and a twelve month high of $437.68. The stock's 50 day moving average price is $360.94 and its two-hundred day moving average price is $353.52. The company has a quick ratio of 1.73, a current ratio of 1.90 and a debt-to-equity ratio of 0.80.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its quarterly earnings results 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. The firm had revenue of $19.31 billion for 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%.The business's quarterly revenue was up 29.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.60 EPS. Equities research analysts expect that Broadcom Inc. will post 9.95 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The business also recently declared 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 annualized dividend and a dividend yield of 0.6%. Broadcom's payout ratio is 50.78%.

Wall Street Analysts Forecast Growth

AVGO has been the topic of several research reports. Morgan Stanley boosted their target price on Broadcom from $462.00 to $470.00 and gave the company an "overweight" rating in a research note on Friday, March 6th. Wells Fargo & Company upgraded Broadcom from an "equal weight" rating to an "overweight" rating and boosted their target price for the company from $410.00 to $430.00 in a research note on Thursday, January 15th. Zacks Research upgraded Broadcom from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 2nd. Mizuho restated an "outperform" rating and issued a $480.00 target price on shares of Broadcom in a research note on Thursday, April 16th. Finally, Rosenblatt Securities restated a "buy" rating and issued a $500.00 target price on shares of Broadcom in a research note on Tuesday, April 7th. Two equities research 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. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $436.13.

Insider Buying and Selling

In other Broadcom news, insider S. Ram Velaga sold 38,841 shares of the business's stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $321.60, for a total transaction of $12,491,265.60. Following the transaction, the insider owned 96,147 shares of the company's stock, valued at $30,920,875.20. The trade was a 28.77% decrease in their position. 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 business's 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 transaction, the insider directly owned 278,141 shares in the company, valued at $89,450,145.60. The trade was a 15.36% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 324,282 shares of company stock worth $106,425,249 over the last 90 days. Company insiders own 1.90% of the company's stock.

Key Stories Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Citi raised its price target on Broadcom to $500 from $475 and kept a Buy rating, saying the company remains one of Wall Street’s top semiconductor picks heading into earnings on continued AI demand. Broadcom Enters Earnings As Citi's Top Semiconductor Pick
• Positive Sentiment: Multiple reports highlighted Broadcom’s growing role in custom AI silicon and AI infrastructure, including talk of a large financing package to support its chipmaking buildout, reinforcing the bullish long-term AI investment case. Why Broadcom (AVGO) Is Becoming a Bigger Force in Custom AI Silicon
• Positive Sentiment: Fund-flow headlines were supportive, with Chris Rokos reportedly buying Broadcom and Mirova US LLC increasing its stake, suggesting institutional confidence remains strong. Broadcom Inc. (AVGO): Chris Rokos Is Buying This Chip Stock
• Neutral Sentiment: Broadcom sued EU antitrust regulators over a request for U.S. legal documents tied to the VMware deal, which adds legal noise but is not yet a clear business fundamental issue. Broadcom sues EU antitrust regulators over request for US legal documents
• Negative Sentiment: Recent trading showed Broadcom easing after a strong run, and some commentary warned that tech valuations are becoming crowded, which may be prompting profit-taking in the stock. Broadcom Inc. (AVGO) Dips More Than Broader Market: What You Should Know
• Negative Sentiment: Some holders also trimmed positions, including PRIMECAP Management and Cincinnati Specialty Underwriters, adding a modest overhang to sentiment. PRIMECAP Management Co trims Broadcom stake by 12,410 shares

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.

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