RFG Advisory LLC Buys 1,297 Shares of Broadcom Inc. $AVGO

Key Points

• RFG Advisory LLC boosted its Broadcom stake by 3.6% in the fourth quarter, buying 1,297 additional shares and bringing its total holdings to 36,969 shares valued at about $12.8 million.
• Broadcom continues to draw bullish analyst attention, with Citi raising its price target to $500 on strong AI demand and several other firms also highlighting upside tied to AI infrastructure and earnings strength.
• The company reported strong quarterly results, including EPS of $2.05 and revenue of $19.31 billion, both above estimates, while also paying a quarterly dividend of $0.65 per share.

RFG Advisory LLC increased its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 3.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 36,969 shares of the semiconductor manufacturer's stock after acquiring an additional 1,297 shares during the quarter. RFG Advisory LLC's holdings in Broadcom were worth $12,795,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of AVGO. Arrowstreet Capital Limited Partnership increased its position in Broadcom by 499.4% during the third quarter. Arrowstreet Capital Limited Partnership now owns 5,634,232 shares of the semiconductor manufacturer's stock worth $1,858,789,000 after acquiring an additional 4,694,313 shares during the period. Vanguard Group Inc. increased its position in Broadcom by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 482,707,302 shares of the semiconductor manufacturer's stock worth $167,064,997,000 after acquiring an additional 3,919,715 shares during the period. Nordea Investment Management AB increased its position in Broadcom by 47.5% during the fourth quarter. Nordea Investment Management AB now owns 9,814,757 shares of the semiconductor manufacturer's stock worth $3,406,211,000 after acquiring an additional 3,160,586 shares during the period. Danske Bank A S bought a new position in Broadcom during the third quarter worth $987,488,000. Finally, PFA Pension Forsikringsaktieselskab bought a new position in Broadcom during the fourth quarter worth $924,858,000. Institutional investors own 76.43% of the company's stock.

Key Headlines 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, citing strong AI demand and expectations for another strong quarter. Citi Raises Broadcom Price Target to $500: AI Demand Sets Up Another Big April Quarter
• Positive Sentiment: Other Wall Street coverage also pointed to continued upside for Broadcom, reflecting optimism around its AI infrastructure exposure and earnings outlook. Wall Street sets Broadcom (AVGO) stock price for the next 12 months
• Positive Sentiment: Zacks highlighted Broadcom’s strong earnings-surprise history and said the company appears well-positioned to beat estimates again in its next report. Will Broadcom Inc. (AVGO) Beat Estimates Again in Its Next Earnings Report?
• Neutral Sentiment: Broadcom’s latest stock move also appears tied to a recent run-up, with one article saying investors were taking profits after a large AI-driven rally rather than reacting to a fundamental deterioration. Why analysts are bullish on Broadcom stock despite a 4% fall today?
• Neutral Sentiment: Several hedge-fund and institutional filings showed mixed activity in Broadcom, with some firms trimming holdings while Mirova US LLC added shares; these moves are notable but not necessarily a direct signal on the company’s fundamentals. PRIMECAP Management Co trims Broadcom stake by 12,410 shares Cincinnati Specialty Underwriters slashes Broadcom stake by 207K shares Mirova US LLC Boosts Broadcom Stake by 183,850 Shares

Analyst Ratings Changes

Several brokerages have issued reports on AVGO. Truist Financial boosted their price target on shares of Broadcom from $510.00 to $545.00 and gave the company a "buy" rating in a report on Thursday, March 5th. Mizuho reissued an "outperform" rating and issued a $480.00 price target on shares of Broadcom in a report on Thursday, April 16th. 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 report on Friday, January 30th. Erste Group Bank lowered shares of Broadcom from a "buy" rating to a "hold" rating in a report on Thursday, April 2nd. Finally, DA Davidson raised shares of Broadcom to a "hold" rating in a report on Friday, February 13th. Two analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $436.13.

Broadcom Stock Down 2.1%

Shares of NASDAQ:AVGO opened at $419.30 on Wednesday. Broadcom Inc. has a 52 week low of $221.60 and a 52 week high of $437.68. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.73 and a current ratio of 1.90. The company's fifty day moving average is $358.98 and its 200-day moving average is $353.01. The company has a market capitalization of $1.99 trillion, a PE ratio of 81.89, a P/E/G ratio of 0.89 and a beta of 1.43.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its 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. Broadcom had a net margin of 36.57% and a return on equity of 38.61%. The company had revenue of $19.31 billion for the quarter, compared to the consensus estimate of $19.10 billion. During the same quarter in the previous year, the company earned $1.60 EPS. The firm's revenue for the quarter was up 29.5% compared to the same quarter last year. Equities research analysts predict that Broadcom Inc. will post 9.95 earnings per share for the current fiscal year.

Broadcom Announces Dividend

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

Insider Buying and Selling

In other news, Director Justine Page sold 2,018 shares of the business's stock in a transaction on Wednesday, April 8th. The shares were sold at an average price of $353.00, for a total value of $712,354.00. Following the sale, the director owned 18,164 shares in the company, valued at approximately $6,411,892. The trade was a 10.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider S. Ram Velaga sold 8,000 shares of the company's stock in a transaction dated Friday, April 10th. The stock was sold at an average price of $370.52, for a total transaction of $2,964,160.00. Following 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 position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 324,282 shares of company stock worth $106,425,249 in the last three months. Company insiders own 1.90% of the company's stock.

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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