Varma Mutual Pension Insurance Co Raises Holdings in Broadcom Inc. $AVGO

Varma Mutual Pension Insurance Co increased its holdings in Broadcom Inc. (NASDAQ:AVGO) by 3.5% in the 4th quarter, HoldingsChannel reports. The fund owned 643,130 shares of the semiconductor manufacturer’s stock after purchasing an additional 21,900 shares during the quarter. Broadcom makes up approximately 1.3% of Varma Mutual Pension Insurance Co’s holdings, making the stock its 14th biggest holding. Varma Mutual Pension Insurance Co’s holdings in Broadcom were worth $222,587,000 as of its most recent filing with the SEC.

Several other hedge funds also recently added to or reduced their stakes in the business. JCIC Asset Management Inc. purchased a new position in shares of Broadcom during the third quarter worth $31,000. Miller Global Investments LLC purchased a new position in shares of Broadcom during the fourth quarter worth $31,000. Nvest Wealth Strategies Inc. purchased a new position in shares of Broadcom during the fourth quarter worth $33,000. Manning & Napier Advisors LLC purchased a new position in shares of Broadcom during the third quarter worth $34,000. Finally, Family CFO Inc purchased a new position in shares of Broadcom during the fourth quarter worth $35,000. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

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

Wall Street Analysts Forecast Growth

Several research firms have recently commented on AVGO. Seaport Research Partners restated a “neutral” rating on shares of Broadcom in a research report on Wednesday, April 8th. Royal Bank Of Canada lowered their price target on Broadcom from $370.00 to $340.00 and set a “sector perform” rating for the company in a research report on Monday, March 2nd. JPMorgan Chase & Co. raised their price target on Broadcom from $475.00 to $500.00 and gave the stock an “overweight” rating in a research report on Thursday, March 5th. Mizuho restated an “outperform” rating and set a $480.00 price target on shares of Broadcom in a research report on Thursday, April 16th. Finally, DA Davidson upgraded Broadcom to a “hold” rating in a research 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. Based on data from MarketBeat.com, Broadcom has an average rating of “Moderate Buy” and an average target price of $435.30.

Insider Buying and Selling

In other Broadcom news, Director Justine Page sold 2,018 shares of the firm’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 directly owned 18,164 shares in the company, valued at $6,411,892. This trade represents a 10.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 completion of the sale, the insider owned 57,932 shares in the company, valued at approximately $21,464,964.64. This represents a 12.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 324,282 shares of company stock valued at $106,425,249 over the last 90 days. 1.90% of the stock is currently owned by corporate insiders.

Broadcom Price Performance

Broadcom stock opened at $430.00 on Monday. Broadcom Inc. has a 1-year low of $206.52 and a 1-year high of $437.68. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.90 and a quick ratio of 1.73. The stock has a market cap of $2.04 trillion, a PE ratio of 83.98, a P/E/G ratio of 0.89 and a beta of 1.43. The stock’s fifty day moving average is $352.89 and its two-hundred day moving average is $351.28.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 earnings per share for the quarter, beating 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 company had revenue of $19.31 billion for the quarter, compared to analysts’ expectations of $19.10 billion. During the same period last year, the firm earned $1.60 earnings per share. Broadcom’s quarterly revenue was up 29.5% on a year-over-year basis. On average, sell-side analysts expect that Broadcom Inc. will post 9.95 EPS for the current fiscal year.

Broadcom Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Monday, March 23rd were paid a $0.65 dividend. 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 (DPR) is currently 50.78%.

Broadcom 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.