Conning Inc. Boosts Stake in Broadcom Inc. $AVGO

Conning Inc. raised its position in Broadcom Inc. (NASDAQ:AVGO) by 32.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 37,267 shares of the semiconductor manufacturer’s stock after buying an additional 9,151 shares during the period. Conning Inc.’s holdings in Broadcom were worth $12,898,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Baring Financial LLC increased its stake in Broadcom by 2.2% in the 4th 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 position in shares of Broadcom by 0.4% during the 4th quarter. Five Oceans Advisors now owns 8,191 shares of the semiconductor manufacturer’s stock valued at $2,835,000 after acquiring an additional 29 shares during the period. Jackson Hole Capital Partners LLC grew its position in shares of Broadcom by 1.4% during the 3rd quarter. Jackson Hole Capital Partners LLC now owns 2,170 shares of the semiconductor manufacturer’s stock valued at $716,000 after acquiring an additional 30 shares during the period. Private Wealth Partners LLC boosted its holdings in Broadcom by 0.7% in the 3rd quarter. Private Wealth Partners LLC now owns 4,273 shares of the semiconductor manufacturer’s stock worth $1,410,000 after buying an additional 30 shares during the period. Finally, Planning Alternatives Ltd. ADV boosted its holdings in Broadcom by 1.4% in the 3rd quarter. Planning Alternatives Ltd. ADV now owns 2,168 shares of the semiconductor manufacturer’s stock worth $715,000 after buying an additional 30 shares during the period. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $545.00 price objective (up from $430.00) on shares of Broadcom in a report on Thursday, May 14th. TD Cowen reiterated a “buy” rating and issued a $500.00 target price (up from $405.00) on shares of Broadcom in a research note on Friday. Mizuho reiterated an “outperform” rating and issued a $480.00 target price on shares of Broadcom in a research note on Thursday, April 16th. JPMorgan Chase & Co. increased their target price on shares of Broadcom from $475.00 to $500.00 and gave the stock an “overweight” rating in a research note on Thursday, March 5th. Finally, Seaport Research Partners reiterated a “neutral” rating on shares of Broadcom in a research note on Wednesday, April 8th. Two analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, Broadcom presently has an average rating of “Moderate Buy” and an average price target of $448.10.

Insiders Place Their Bets

In other Broadcom news, insider S. Ram Velaga sold 8,000 shares of the firm’s stock in a transaction on Friday, April 10th. The shares were sold at an average price of $370.52, for a total value of $2,964,160.00. Following the sale, the insider owned 57,932 shares of the company’s stock, valued at $21,464,964.64. This trade represents a 12.13% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gayla J. Delly sold 1,000 shares of the firm’s stock in a transaction on Thursday, April 9th. The stock was sold at an average price of $358.31, for a total transaction of $358,310.00. Following the completion of the sale, the director directly owned 32,352 shares in the company, valued at approximately $11,592,045.12. This trade represents a 3.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 324,282 shares of company stock worth $106,425,249. 1.90% of the stock is currently owned by insiders.

Broadcom Price Performance

Shares of NASDAQ:AVGO opened at $411.07 on Wednesday. The stock has a market cap of $1.95 trillion, a PE ratio of 80.29, a PEG ratio of 0.87 and a beta of 1.43. The company’s fifty day moving average is $368.97 and its 200 day moving average is $355.08. Broadcom Inc. has a 52 week low of $226.18 and a 52 week high of $442.36. 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) last issued its earnings results on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 EPS for the quarter, topping analysts’ consensus estimates of $2.03 by $0.02. The company 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% compared to the same quarter last year. During the same quarter last year, the company earned $1.60 EPS. Research analysts anticipate that Broadcom Inc. will post 9.97 earnings per share for the current year.

Broadcom Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Monday, March 23rd were issued 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 (DPR) is 50.78%.

Broadcom News Summary

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom renewed its long-running technology partnership with LSEG in a new five-year agreement centered on VMware Cloud Foundation, expanding Broadcom’s role in LSEG’s private cloud infrastructure and adding professional services revenue potential. LSEG renews Broadcom partnership to expand cloud infrastructure strategy (AVGO)
• Positive Sentiment: Wall Street remains bullish on AVGO, with recent analyst updates and price targets pointing to confidence in Broadcom’s AI-driven growth and leadership in semiconductor and infrastructure software. Wall Street sets Broadcom stock price target for next 12 months
• Neutral Sentiment: Recent coverage continues to highlight Broadcom as a major AI infrastructure beneficiary, with analysts favoring AVGO over some peers because of its strong AI revenue growth and broad demand trends. ALAB vs. AVGO: Which AI Infrastructure Stock Is the Better Buy Now?
• Neutral Sentiment: Broader market commentary and stock-search interest have kept AVGO in the spotlight, but these items do not point to a direct fundamental change. Investors Heavily Search Broadcom Inc. (AVGO): Here is What You Need to Know
• Negative Sentiment: AVGO had recently been trading lower at times, reflecting some profit-taking even as the longer-term story remains tied to AI and enterprise software growth. Broadcom Inc. (AVGO) Declines More Than Market: Some Information for Investors

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.