Phoenix Financial Ltd. Increases Stake in Broadcom Inc. $AVGO

Key Points

• Phoenix Financial Ltd. increased its Broadcom stake by 22.8% in the fourth quarter, ending with 253,370 shares valued at about $82 million.
• Broadcom continues to attract strong institutional and analyst support, with hedge funds owning 76.43% of the stock and the consensus rating sitting at Moderate Buy with a $448.10 price target.
• The company posted solid quarterly results, including $2.05 EPS and $19.31 billion in revenue, both ahead of expectations, while also paying a quarterly dividend of $0.65 per share.

Phoenix Financial Ltd. grew its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 22.8% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 253,370 shares of the semiconductor manufacturer's stock after buying an additional 47,036 shares during the quarter. Phoenix Financial Ltd.'s holdings in Broadcom were worth $82,043,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the company. JCIC Asset Management Inc. acquired a new position in shares of Broadcom during the 3rd quarter worth $31,000. Miller Global Investments LLC acquired a new position in shares of Broadcom during the 4th quarter worth $31,000. Nvest Wealth Strategies Inc. acquired a new position in shares of Broadcom during the 4th quarter worth $33,000. Family CFO Inc acquired a new position in shares of Broadcom during the 4th quarter worth $35,000. Finally, PayPay Securities Corp grew its stake in shares of Broadcom by 88.9% during the 4th quarter. PayPay Securities Corp now owns 119 shares of the semiconductor manufacturer's stock worth $41,000 after purchasing an additional 56 shares during the period. Hedge funds and other institutional investors own 76.43% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Wolfe Research raised shares of Broadcom from a "peer perform" rating to an "outperform" rating and set a $400.00 price target on the stock in a research note on Friday, January 30th. Zacks Research raised shares of Broadcom from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 2nd. Erste Group Bank cut shares of Broadcom from a "buy" rating to a "hold" rating in a research note on Thursday, April 2nd. Evercore reaffirmed an "outperform" rating and set a $582.00 price target on shares of Broadcom in a research note on Tuesday. Finally, TD Cowen reaffirmed a "buy" rating and set a $500.00 price target (up from $405.00) on shares of Broadcom in a research note on Friday, May 15th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $448.10.

Broadcom Price Performance

Shares of NASDAQ AVGO opened at $417.76 on Thursday. The stock has a market cap of $1.98 trillion, a price-to-earnings ratio of 81.59, a PEG ratio of 0.85 and a beta of 1.43. Broadcom Inc. has a 52 week low of $226.18 and a 52 week high of $442.36. The company's 50-day moving average price is $370.41 and its 200 day moving average price is $355.37. The company has a current ratio of 1.90, a quick ratio of 1.73 and a debt-to-equity ratio of 0.80.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its quarterly earnings data on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 EPS for the quarter, beating analysts' consensus estimates of $2.03 by $0.02. The firm had revenue of $19.31 billion for the quarter, compared to analysts' expectations of $19.10 billion. Broadcom had a net margin of 36.57% and a return on equity of 38.61%. The firm's revenue was up 29.5% on a year-over-year basis. During the same period in the prior year, the company earned $1.60 EPS. As a group, research analysts forecast that Broadcom Inc. will post 9.97 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Monday, March 23rd were paid a $0.65 dividend. 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 dividend payout ratio is presently 50.78%.

More Broadcom News

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom deepened its relationship with the London Stock Exchange Group (LSEG) through a new five-year agreement centered on VMware Cloud Foundation, which should support recurring software revenue and highlights demand for Broadcom’s enterprise cloud and infrastructure products. Article Title
• Positive Sentiment: Applied Materials named Broadcom as an EPIC Innovation Partner, signaling collaboration on advanced packaging technologies that are critical for next-generation AI chips and systems. That reinforces Broadcom’s position as a key supplier in the AI infrastructure buildout. Article Title
• Positive Sentiment: Wall Street continues to view Broadcom favorably, with multiple recent analyst price targets raised or reiterated at bullish levels. Investors are still focusing on Broadcom’s AI exposure and custom chip momentum. Article Title
• Neutral Sentiment: A Zacks screen highlighted Broadcom as a high-ROE “cash cow” alongside other stocks that may hold up better during a tech slump. This is more of a relative-strength mention than a new company-specific catalyst. Article Title
• Neutral Sentiment: Another Zacks item discussed whether brokers’ opinions matter for Broadcom, but it did not add a clear new upgrade, downgrade, or earnings surprise. Article Title
• Neutral Sentiment: Broader market articles noted a selloff in major tech stocks and the Magnificent 7, which can weigh on AVGO sentiment even when company-specific news remains positive. Article Title
• Negative Sentiment: One Seeking Alpha piece argued that Broadcom’s AI visibility has improved, but the valuation multiple has not expanded as much as expected, suggesting some investor caution after the stock’s strong run. Article Title

Insider Transactions at Broadcom

In related news, insider Charlie B. Kawwas sold 10,000 shares of the stock in a transaction dated 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 represents a 1.25% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider S. Ram Velaga sold 8,000 shares of the company's stock in a transaction dated Friday, April 10th. The shares were sold at an average price of $370.52, for a total transaction of $2,964,160.00. Following the completion of the transaction, the insider owned 57,932 shares in the company, valued at approximately $21,464,964.64. This trade represents a 12.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 324,282 shares of company stock worth $106,425,249 in the last 90 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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