Millennium Capital Advisors LLC Acquires Shares of 13,533 Broadcom Inc. $AVGO

Key Points

• Millennium Capital Advisors disclosed a new fourth-quarter stake in Broadcom, buying 13,533 shares valued at about $4.68 million. The position now represents roughly 2.8% of its holdings, making AVGO its 7th largest holding.
• Broadcom continues to draw strong institutional and analyst support, with 76.43% of shares owned by hedge funds and other institutions. Several analysts recently raised targets or reiterated bullish ratings, and the consensus view remains Moderate Buy.
• The company’s latest results and outlook remain solid, with March-quarter earnings and revenue both beating expectations and revenue rising 29.5% year over year. Recent news also highlights Broadcom’s momentum in AI chips and cloud infrastructure partnerships, even as some investors warn the stock may be getting crowded.

Millennium Capital Advisors LLC acquired a new stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 13,533 shares of the semiconductor manufacturer's stock, valued at approximately $4,684,000. Broadcom makes up about 2.8% of Millennium Capital Advisors LLC's holdings, making the stock its 7th biggest position.

Other hedge funds also recently bought and sold shares of the company. Miller Global Investments LLC purchased a new stake in Broadcom during the fourth quarter valued at about $31,000. JCIC Asset Management Inc. purchased a new stake in Broadcom during the third quarter valued at about $31,000. Nvest Wealth Strategies Inc. purchased a new stake in Broadcom during the fourth quarter valued at about $33,000. Family CFO Inc purchased a new stake in Broadcom during the fourth quarter valued at about $35,000. Finally, PayPay Securities Corp lifted its stake in Broadcom by 88.9% during the fourth quarter. PayPay Securities Corp now owns 119 shares of the semiconductor manufacturer's stock valued at $41,000 after buying an additional 56 shares in the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have commented on AVGO shares. Truist Financial upped their price objective on shares of Broadcom from $510.00 to $545.00 and gave the company a "buy" rating in a research note on Thursday, March 5th. Wells Fargo & Company reiterated an "overweight" rating and issued a $545.00 target price (up from $430.00) on shares of Broadcom in a report on Thursday, May 14th. Wolfe Research upgraded Broadcom from a "peer perform" rating to an "outperform" rating and set a $400.00 target price on the stock in a report on Friday, January 30th. Rosenblatt Securities reiterated a "buy" rating and issued a $500.00 target price on shares of Broadcom in a report on Tuesday, April 7th. Finally, Bank of America dropped their target price on Broadcom from $500.00 to $450.00 and set a "buy" rating on the stock in a report on Thursday, March 5th. Two equities research analysts have 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. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $448.10.

Key Broadcom News

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom renewed and expanded ties with the London Stock Exchange Group, adding another sign of demand for its VMware and cloud infrastructure offerings. The company also reiterated momentum in its custom AI chip business, with an internal target of $100 billion in AI-chip revenue by 2027. Broadcom Deepens LSEG Ties While Targeting US$100b In Custom AI Chips
• Positive Sentiment: Applied Materials named Broadcom as an EPIC Innovation Partner, highlighting collaboration on advanced packaging technologies for next-generation AI chips and systems. That supports the view that Broadcom remains central to the AI hardware buildout. Applied Materials Announces Broadcom as EPIC Innovation Partner
• Positive Sentiment: Analysts reportedly raised price targets on Broadcom, reinforcing optimism around AI-related growth and helping offset the recent tech-sector pullback. Analysts raise Broadcom stock price target
• Positive Sentiment: Multiple recent articles argued Broadcom remains a strong growth and long-term investment idea, citing its solid fundamentals and durable AI exposure. Is Broadcom (AVGO) One of the Best Long Term US Stocks to Buy Right Now?
• Neutral Sentiment: Some commentary suggested Broadcom is becoming “overcrowded,” implying investor enthusiasm may already be very high and the stock could be vulnerable to volatility after its recent gains. Broadcom Is Far Too Overcrowded
• Neutral Sentiment: Other pieces discussed Broadcom’s valuation and the broader tech selloff, which may be contributing to near-term pressure despite the company’s strong AI narrative. What's going on with Broadcom stock Thursday?

Broadcom Price Performance

Shares of AVGO opened at $414.57 on Friday. The company has a market capitalization of $1.96 trillion, a price-to-earnings ratio of 80.97, a P/E/G ratio of 0.86 and a beta of 1.43. Broadcom Inc. has a fifty-two week low of $226.18 and a fifty-two week 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 business's 50-day moving average is $371.85 and its 200-day moving average is $355.68.

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 company had revenue of $19.31 billion for the quarter, compared to the consensus estimate of $19.10 billion. Broadcom had a return on equity of 38.61% and a net margin of 36.57%.The firm's quarterly revenue was up 29.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.60 EPS. Equities research analysts expect that Broadcom Inc. will post 9.97 EPS for the current fiscal year.

Broadcom Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Monday, March 23rd were given a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend was Monday, March 23rd. Broadcom's dividend payout ratio (DPR) is presently 50.78%.

Insider Buying and Selling at Broadcom

In related news, insider S. Ram Velaga sold 38,841 shares of the firm's stock in a transaction that occurred on Tuesday, March 17th. The shares were 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 approximately $30,920,875.20. This trade represents a 28.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Charlie B. Kawwas sold 39,116 shares of the firm's stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $321.61, for a total transaction of $12,580,096.76. Following the transaction, the insider directly owned 74,626 shares in the company, valued at approximately $24,000,467.86. The trade was a 34.39% decrease in their position. 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 in the last ninety days. Insiders own 1.90% of the company's stock.

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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