Procyon Advisors LLC Boosts Stock Position in Broadcom Inc. $AVGO

Key Points

• Procyon Advisors LLC boosted its position in Broadcom by 36.3%, adding 10,849 shares to hold 40,728 shares valued at about $14.10 million per its latest 13F filing.
• Broadcom beat recent quarterly estimates (EPS $2.05 vs. $2.03; revenue $19.31B, +29.5% YoY), and strong AI/infrastructure momentum has prompted bullish analyst upgrades and higher price targets.
• Significant insider selling occurred this quarter—CFO and CEO sold large blocks and insiders sold 428,970 shares worth roughly $142.6 million, while insiders still own about 1.90% of the company.

Procyon Advisors LLC raised its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 36.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 40,728 shares of the semiconductor manufacturer's stock after purchasing an additional 10,849 shares during the quarter. Procyon Advisors LLC's holdings in Broadcom were worth $14,096,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Miller Global Investments LLC purchased a new position in Broadcom in the fourth quarter worth about $31,000. JCIC Asset Management Inc. purchased a new position in shares of Broadcom in the 3rd quarter worth approximately $31,000. Longfellow Investment Management Co. LLC purchased a new position in shares of Broadcom in the 2nd quarter worth approximately $27,000. Teachers Insurance & Annuity Association of America purchased a new stake in Broadcom during the 2nd quarter valued at $28,000. Finally, Manning & Napier Advisors LLC purchased a new stake in Broadcom during the 3rd quarter valued at $34,000. 76.43% of the stock is owned by hedge funds and other institutional investors.

Broadcom Trading Up 3.9%

Shares of NASDAQ AVGO opened at $322.51 on Tuesday. Broadcom Inc. has a 1-year low of $138.10 and a 1-year high of $414.61. The business has a fifty day moving average price of $329.84 and a 200 day moving average price of $345.72. The stock has a market capitalization of $1.53 trillion, a P/E ratio of 62.99, a price-to-earnings-growth ratio of 0.67 and a beta of 1.22. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.90 and a quick ratio of 1.73.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its quarterly earnings results on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 EPS for the quarter, beating the consensus estimate 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 net margin of 36.57% and a return on equity of 38.61%. The company's quarterly revenue was up 29.5% on a year-over-year basis. During the same period in the prior year, the firm posted $1.60 earnings per share. Equities research analysts expect that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Monday, March 23rd will be given a $0.65 dividend. The ex-dividend date is Monday, March 23rd. This represents a $2.60 dividend on an annualized basis and a yield of 0.8%. Broadcom's dividend payout ratio is currently 50.78%.

Insider Transactions at Broadcom

In other Broadcom news, CFO Kirsten M. Spears sold 36,292 shares of the stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $321.60, for a total transaction of $11,671,507.20. Following the sale, the chief financial officer directly owned 327,760 shares of the company's stock, valued at approximately $105,407,616. This trade represents a 9.97% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Hock E. Tan sold 70,000 shares of Broadcom stock in a transaction dated Tuesday, January 6th. The shares were sold at an average price of $347.30, for a total value of $24,311,000.00. Following the transaction, the chief executive officer owned 132,836 shares of the company's stock, valued at $46,133,942.80. The trade was a 34.51% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 428,970 shares of company stock valued at $142,585,321 over the last quarter. Company insiders own 1.90% of the company's stock.

Broadcom News Summary

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Bernstein upgraded Broadcom on AI opportunity, triggering fresh buying interest and price momentum as investors price in larger AI content per data‑center GW. Broadcom (AVGO) Stock Surges Nearly 5% on Bernstein’s Bullish AI Upgrade
• Positive Sentiment: Analysts have been reiterating bullish views and high price targets (e.g., Cantor Fitzgerald’s Overweight/$525 PT) after Broadcom’s strong quarter and upbeat guidance, reinforcing investor conviction on AI and networking growth. What Street Thinks About Broadcom Inc. (AVGO)
• Positive Sentiment: Operational execution: Broadcom has begun volume shipments of its Tomahawk 6 switch chip and expanded its AI infrastructure roadmap (3.5D XPU, 102.4T switch), supporting the company’s large AI revenue thesis and capacity wins with major cloud/LLM customers. Broadcom Inc. (AVGO) Commences Volume Shipping of Tomahawk 6 Chip to Scale AI Networks
• Neutral Sentiment: Broadcom launched Symantec CBX (Carbon Black XDR) to combine Symantec and Carbon Black capabilities — a strategic move in security software that broadens recurring‑revenue exposure but is less material to near‑term AI chip revenue. Broadcom Introduces Symantec CBX
• Negative Sentiment: Regulatory risk: European cloud providers filed an antitrust complaint over Broadcom’s VMware licensing changes, which could lead to inquiries, fines, or commercial constraints in EU cloud markets and add execution uncertainty. EU Antitrust Complaint Puts Broadcom VMware Licensing Strategy Under Spotlight

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. The Goldman Sachs Group restated a "buy" rating and issued a $450.00 target price on shares of Broadcom in a report on Monday, January 5th. Citigroup upped their price target on shares of Broadcom from $458.00 to $475.00 and gave the company a "buy" rating in a report on Thursday, March 5th. Oppenheimer increased their price objective on shares of Broadcom from $435.00 to $450.00 and gave the stock an "outperform" rating in a research report on Friday, December 12th. DA Davidson upgraded Broadcom to a "hold" rating in a research report on Friday, February 13th. Finally, Morgan Stanley upped 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. One research analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $435.30.

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.

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