Truist Financial Corp Acquires 69,456 Shares of Broadcom Inc. $AVGO

Truist Financial Corp grew its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 2.4% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,965,463 shares of the semiconductor manufacturer’s stock after buying an additional 69,456 shares during the quarter. Broadcom accounts for about 1.4% of Truist Financial Corp’s investment portfolio, making the stock its 11th biggest position. Truist Financial Corp’s holdings in Broadcom were worth $1,026,347,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Baring Financial LLC grew its stake in shares of Broadcom by 2.2% during the fourth quarter. Baring Financial LLC now owns 1,359 shares of the semiconductor manufacturer’s stock valued at $470,000 after buying an additional 29 shares during the last quarter. Five Oceans Advisors grew its stake in shares of Broadcom by 0.4% during the fourth quarter. Five Oceans Advisors now owns 8,191 shares of the semiconductor manufacturer’s stock valued at $2,835,000 after buying an additional 29 shares during the last quarter. Jackson Hole Capital Partners LLC grew its stake in shares of Broadcom by 1.4% during the third quarter. Jackson Hole Capital Partners LLC now owns 2,170 shares of the semiconductor manufacturer’s stock valued at $716,000 after buying an additional 30 shares during the last quarter. Private Wealth Partners LLC grew its stake in Broadcom by 0.7% in the third quarter. Private Wealth Partners LLC now owns 4,273 shares of the semiconductor manufacturer’s stock worth $1,410,000 after purchasing an additional 30 shares in the last quarter. Finally, Planning Alternatives Ltd. ADV grew its stake in Broadcom by 1.4% in the third quarter. Planning Alternatives Ltd. ADV now owns 2,168 shares of the semiconductor manufacturer’s stock worth $715,000 after purchasing an additional 30 shares in the last quarter. Institutional investors own 76.43% of the company’s stock.

Insider Activity at Broadcom

In other Broadcom news, insider Charlie B. Kawwas sold 10,000 shares of the company’s stock in a transaction on Wednesday, April 8th. The stock was sold at an average price of $345.23, for a total transaction of $3,452,300.00. Following the completion of the sale, the insider owned 787,184 shares in the company, valued at $271,759,532.32. This represents a 1.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Justine Page sold 2,018 shares of the company’s stock in a transaction on Wednesday, April 8th. The stock was 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 of the company’s stock, valued at approximately $6,411,892. This represents a 10.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 324,282 shares of company stock valued at $106,425,249 over the last 90 days. Insiders own 1.90% of the company’s stock.

More Broadcom News

Here are the key news stories impacting Broadcom this week:

• Negative Sentiment: Broadcom shares are under pressure after reports said OpenAI’s planned $18 billion custom chip deal with the company hit a financing roadblock, creating uncertainty around a key AI revenue driver. Broadcom shares slump as OpenAI’s $18B custom chip deal hits financing snag
• Negative Sentiment: Another report framed the OpenAI issue as a major setback for Broadcom’s custom AI chip ambitions, adding concern that one of its flagship customer relationships may not be as immediately monetizable as investors hoped. Broadcom’s OpenAI mega AI deal hits $18 billion wall
• Neutral Sentiment: Broadcom also announced VMware by Broadcom VCF 9.1, a product update aimed at accelerating production AI workloads in private clouds, which supports the company’s long-term enterprise AI strategy. Broadcom (AVGO) Launches VCF 9.1 to Accelerate Production AI in Private Clouds
• Neutral Sentiment: Several commentary pieces remained constructive on Broadcom’s position in the AI infrastructure stack, noting that recent hyperscaler results still support demand for chips and networking tied to AI buildouts. Big Tech earnings support Broadcom’s outlook
• Neutral Sentiment: Broadcom was also mentioned in a public-sector VMware partnership update, which could help broaden enterprise distribution but is not likely the main driver of the stock today. evoila U.S. and Carahsoft Partner to Deliver VMware by Broadcom Services to the Public Sector

Broadcom Price Performance

Broadcom stock opened at $430.00 on Monday. The business has a fifty day moving average of $352.89 and a two-hundred day moving average of $351.28. The company has a quick ratio of 1.73, a current ratio of 1.90 and a debt-to-equity ratio of 0.80. The firm has a market cap of $2.04 trillion, a P/E ratio of 83.98, a P/E/G ratio of 0.89 and a beta of 1.43. Broadcom Inc. has a twelve month low of $206.52 and a twelve month high of $437.68.

Broadcom (NASDAQ:AVGO) last posted its earnings results 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. The company had revenue of $19.31 billion during the quarter, compared to analyst estimates of $19.10 billion. Broadcom had a return on equity of 38.61% and a net margin of 36.57%.Broadcom’s revenue was up 29.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.60 earnings per share. On average, analysts forecast that Broadcom Inc. will post 9.95 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Monday, March 23rd were issued a dividend of $0.65 per share. The ex-dividend date was Monday, March 23rd. This represents a $2.60 dividend on an annualized basis and a yield of 0.6%. Broadcom’s dividend payout ratio is currently 50.78%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on AVGO. Royal Bank Of Canada dropped 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 dropped their price objective on Broadcom from $500.00 to $450.00 and set a “buy” rating on the stock in a research note on Thursday, March 5th. Weiss Ratings cut Broadcom from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, April 24th. Seaport Research Partners reissued a “neutral” rating on shares of Broadcom in a research note on Wednesday, April 8th. Finally, Mizuho reissued an “outperform” rating and issued a $480.00 price objective on shares of Broadcom in a research note on Thursday, April 16th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $435.30.

About Broadcom

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.