CIBC Asset Management Inc Purchases 212,161 Shares of Broadcom Inc. $AVGO

CIBC Asset Management Inc increased its position in Broadcom Inc. (NASDAQ:AVGO) by 13.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,803,216 shares of the semiconductor manufacturer’s stock after purchasing an additional 212,161 shares during the period. Broadcom makes up approximately 1.5% of CIBC Asset Management Inc’s holdings, making the stock its 16th biggest position. CIBC Asset Management Inc’s holdings in Broadcom were worth $624,008,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of AVGO. Norges Bank bought a new position in Broadcom in the 4th quarter worth about $24,252,196,000. Arrowstreet Capital Limited Partnership boosted its stake in Broadcom by 499.4% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 5,634,232 shares of the semiconductor manufacturer’s stock worth $1,858,789,000 after purchasing an additional 4,694,313 shares in the last quarter. Vanguard Group Inc. boosted its stake in Broadcom by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 482,707,302 shares of the semiconductor manufacturer’s stock worth $167,064,997,000 after purchasing an additional 3,919,715 shares in the last quarter. Nordea Investment Management AB boosted its stake in Broadcom by 47.5% in the 4th quarter. Nordea Investment Management AB now owns 9,814,757 shares of the semiconductor manufacturer’s stock worth $3,406,211,000 after purchasing an additional 3,160,586 shares in the last quarter. Finally, Danske Bank A S bought a new position in Broadcom in the 3rd quarter worth about $987,488,000. Institutional investors own 76.43% of the company’s stock.

Broadcom News Roundup

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom posted record quarterly revenue, beat earnings estimates, and said AI semiconductor demand remains strong, supporting the long-term growth story. Broadcom Q2 Earnings Surpasses Estimates, Revenues Surge Y/Y
• Positive Sentiment: Several analysts remain bullish and raised price targets after the pullback, arguing the market is overreacting to expectations rather than fundamentals. Goldman Sachs urges investors to buy Broadcom dip with still AI revenue trajectory intact
• Positive Sentiment: Management still expects AI revenue to reach $56 billion in fiscal 2026 and more than $100 billion in fiscal 2027, keeping the longer-term AI thesis intact. AVGO Shares Drop 13% Post Q2 Results: Buy, Sell or Hold on the Dip?
• Neutral Sentiment: Broadcom also declared a quarterly dividend, which is supportive for income investors but not a major near-term stock driver.
• Negative Sentiment: The stock is under pressure because the AI outlook, while strong, was not upgraded enough to satisfy investors who had priced in an even bigger upside surprise. Broadcom’s sales and AI chip forecast comes in below expectations, shares tumble
• Negative Sentiment: The disappointment has spilled over into the semiconductor sector, pressuring peers such as AMD, Intel, Micron, and Marvell as investors reassess AI trade valuations. Intel, AMD stocks slide again in aftermath of Broadcom’s weak outlook

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. TD Cowen reiterated a “buy” rating and issued a $500.00 price target on shares of Broadcom in a research note on Thursday. Benchmark upped their price target on shares of Broadcom from $485.00 to $545.00 and gave the stock a “buy” rating in a research note on Thursday. Bank of America upped their target price on shares of Broadcom from $450.00 to $530.00 and gave the company a “buy” rating in a research note on Thursday. Morgan Stanley set a $502.00 target price on shares of Broadcom and gave the company an “overweight” rating in a research note on Thursday. Finally, Jefferies Financial Group set a $550.00 target price on shares of Broadcom and gave the company a “buy” rating in a research note on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $490.13.

Insider Activity

In other news, insider S. Ram Velaga sold 8,000 shares of the company’s stock in a transaction dated Friday, April 10th. The shares were sold at an average price of $370.52, for a total transaction of $2,964,160.00. Following the completion of the sale, the insider owned 57,932 shares of the company’s stock, valued at $21,464,964.64. This represents a 12.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Justine Page sold 2,018 shares of the company’s stock in a transaction dated Wednesday, April 8th. The shares were sold at an average price of $353.00, for a total transaction of $712,354.00. Following the sale, the director directly owned 18,164 shares of the company’s stock, valued at $6,411,892. The trade was a 10.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 324,282 shares of company stock worth $106,425,249. Company insiders own 1.90% of the company’s stock.

Broadcom Price Performance

NASDAQ AVGO opened at $385.73 on Friday. Broadcom Inc. has a 52 week low of $241.11 and a 52 week high of $495.00. The firm has a market capitalization of $1.83 trillion, a P/E ratio of 64.29, a PEG ratio of 0.79 and a beta of 1.41. The company has a quick ratio of 1.73, a current ratio of 2.24 and a debt-to-equity ratio of 0.71. The company has a 50-day moving average price of $396.22 and a 200-day moving average price of $361.90.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 EPS for the quarter, beating the consensus estimate of $2.40 by $0.04. Broadcom had a net margin of 38.85% and a return on equity of 41.61%. The firm had revenue of $22.19 billion during the quarter, compared to analyst estimates of $22.13 billion. During the same quarter in the prior year, the firm earned $1.58 EPS. The business’s revenue for the quarter was up 47.9% compared to the same quarter last year. Equities research analysts anticipate that Broadcom Inc. will post 9.97 earnings per share for the current year.

Broadcom Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 22nd will be given a dividend of $0.65 per share. The ex-dividend date of this dividend is Monday, June 22nd. This represents a $2.60 annualized dividend and a dividend yield of 0.7%. Broadcom’s dividend payout ratio is presently 43.33%.

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.