South Plains Financial Inc. Raises Position in Broadcom Inc. $AVGO

Key Points

• South Plains Financial boosted its stake in Broadcom by 40.7%, buying 2,111 shares to hold 7,294 shares valued at about $2.406 million, making AVGO its 12th-largest position (1.5% of the portfolio).
• Broadcom is gaining AI momentum with product wins — including shipping a 102.4 Tbps Tomahawk 6 switch and a 400G/lane optical DSP — and reported strong quarter results (revenue $19.31B, +29.5% YoY; EPS $2.05), prompting higher analyst price targets and bullish commentary.
• Insiders have been net sellers (458,785 shares sold in the last 90 days, about $155.5M), while the stock trades at a rich valuation (P/E ~65) and below its 200‑day moving average, which could temper near-term upside.

South Plains Financial Inc. grew its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 40.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,294 shares of the semiconductor manufacturer's stock after purchasing an additional 2,111 shares during the quarter. Broadcom makes up 1.5% of South Plains Financial Inc.'s investment portfolio, making the stock its 12th largest position. South Plains Financial Inc.'s holdings in Broadcom were worth $2,406,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in shares of Broadcom by 1.3% during the 2nd quarter. Vanguard Group Inc. now owns 483,442,939 shares of the semiconductor manufacturer's stock worth $133,261,046,000 after buying an additional 6,222,802 shares during the period. State Street Corp increased its position in Broadcom by 0.5% in the 2nd quarter. State Street Corp now owns 185,276,987 shares of the semiconductor manufacturer's stock valued at $51,071,601,000 after acquiring an additional 873,963 shares during the period. Geode Capital Management LLC increased its position in Broadcom by 2.1% during the second quarter. Geode Capital Management LLC now owns 108,610,718 shares of the semiconductor manufacturer's stock worth $29,827,649,000 after buying an additional 2,226,585 shares during the last quarter. Norges Bank bought a new position in shares of Broadcom during the second quarter worth approximately $18,579,549,000. Finally, Invesco Ltd. boosted its position in shares of Broadcom by 1.8% during the 3rd quarter. Invesco Ltd. now owns 39,149,651 shares of the semiconductor manufacturer's stock valued at $12,915,861,000 after purchasing an additional 700,021 shares in the last quarter. Hedge funds and other institutional investors own 76.43% of the company's stock.

Insider Activity

In other news, insider Mark David Brazeal sold 38,281 shares of the stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $327.65, for a total transaction of $12,542,769.65. Following the sale, the insider directly owned 266,494 shares of the company's stock, valued at approximately $87,316,759.10. This represents a 12.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Kirsten M. Spears sold 30,000 shares of the firm's stock in a transaction that occurred on Wednesday, December 31st. The shares were sold at an average price of $347.82, for a total transaction of $10,434,600.00. Following the sale, the chief financial officer directly owned 277,237 shares of the company's stock, valued at $96,428,573.34. This trade represents a 9.76% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 458,785 shares of company stock valued at $155,508,157. Insiders own 1.90% of the company's stock.

Key Broadcom News

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Morgan Stanley raised its price target on AVGO to $470 and kept an Overweight rating after Broadcom’s strong quarterly print, reinforcing buy-side conviction. Morgan Stanley Raises PT on Broadcom
• Positive Sentiment: Broadcom began shipping a market-leading 102.4 Tbps switch (Tomahawk 6 family), strengthening its position in AI-scale networking hardware. Broadcom Now Shipping World's First 102.4 Tbps Switch
• Positive Sentiment: Product wins for AI networking continued with Broadcom’s 3nm 400G/lane optical DSP (Taurus BCM83640), enabling higher-bandwidth transceivers for AI data centers. Broadcom Delivers Industry's First 400G/lane Optical DSP
• Positive Sentiment: Broadcom has publicly forecasted an addressable AI-chip opportunity (reports cite >$100B in AI chip sales in 2027), supporting longer-term revenue upside and market-share gains vs. peers. Broadcom Rises on AI Chip Sales Forecasts for 2027
• Positive Sentiment: Coverage and bullish commentary (Seeking Alpha, Yahoo Finance) highlight new liquid-cooled XPUs and optics as additional catalysts that triggered recent rallies. Broadcom Is Up After Liquid-Cooled AI XPUs & 400G Optics
• Neutral Sentiment: Broadcom honored channel partners (11:11 Systems named VMware Cloud Service Provider Partner of the Year), a routine corporate recognition with limited stock impact. 11:11 Systems Named Broadcom VMware Cloud Service Provider Partner of the Year
• Neutral Sentiment: Published short-interest figures in recent data appear erroneous (reported as zero shares); no clear signal of elevated short pressure. (Likely a data/reporting issue.)
• Negative Sentiment: Despite positive catalysts, AVGO carries a rich valuation (P/E ~65) and is trading below its 200‑day moving average — factors that can prompt profit-taking or restraint from value-oriented funds and help explain intraday softness.

Broadcom Trading Down 1.6%

NASDAQ AVGO opened at $335.97 on Friday. The company has a market cap of $1.59 trillion, a price-to-earnings ratio of 65.62, a P/E/G ratio of 0.78 and a beta of 1.22. The business has a 50 day moving average price of $333.24 and a 200-day moving average price of $344.15. Broadcom Inc. has a 52 week low of $138.10 and a 52 week high of $414.61. 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 data on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 earnings per share for the quarter, topping analysts' consensus estimates of $2.03 by $0.02. Broadcom had a return on equity of 38.61% and a net margin of 36.57%.The business had revenue of $19.31 billion for the quarter, compared to analyst estimates of $19.10 billion. During the same quarter in the prior year, the company earned $1.60 earnings per share. The company's revenue was up 29.5% on a year-over-year basis. As a group, equities analysts expect that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 23rd will be issued a dividend of $0.65 per share. The ex-dividend date is Monday, March 23rd. This represents a $2.60 annualized dividend and a yield of 0.8%. Broadcom's payout ratio is currently 50.78%.

Analyst Upgrades and Downgrades

AVGO has been the topic of a number of analyst reports. Royal Bank Of Canada decreased their price objective on Broadcom from $370.00 to $340.00 and set a "sector perform" rating on the stock in a research note on Monday, March 2nd. Bank of America cut their price objective on shares of Broadcom from $500.00 to $450.00 and set a "buy" rating for the company in a report on Thursday, March 5th. UBS Group set a $475.00 price objective on Broadcom and gave the stock a "buy" rating in a report on Monday, December 15th. Susquehanna reissued a "positive" rating and issued a $450.00 price target (up from $400.00) on shares of Broadcom in a report on Thursday, December 4th. Finally, Robert W. Baird set a $420.00 target price on Broadcom in a research note on Friday, December 12th. One investment analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus 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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