VIRGINIA RETIREMENT SYSTEMS ET Al Increases Position in Broadcom Inc. $AVGO

VIRGINIA RETIREMENT SYSTEMS ET Al lifted its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 32.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 966,310 shares of the semiconductor manufacturer’s stock after acquiring an additional 236,600 shares during the period. Broadcom makes up about 2.0% of VIRGINIA RETIREMENT SYSTEMS ET Al’s investment portfolio, making the stock its 7th largest holding. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Broadcom were worth $334,440,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Arrowstreet Capital Limited Partnership lifted its holdings in Broadcom by 499.4% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 5,634,232 shares of the semiconductor manufacturer’s stock valued at $1,858,789,000 after purchasing an additional 4,694,313 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Broadcom by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 482,707,302 shares of the semiconductor manufacturer’s stock worth $167,064,997,000 after buying an additional 3,919,715 shares during the period. Nordea Investment Management AB grew 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 valued at $3,406,211,000 after buying an additional 3,160,586 shares during the last quarter. Danske Bank A S bought a new position in Broadcom in the 3rd quarter valued at about $987,488,000. Finally, PFA Pension Forsikringsaktieselskab acquired a new stake in Broadcom during the fourth quarter worth approximately $924,858,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insider Transactions at Broadcom

In other Broadcom news, CFO Kirsten M. Spears sold 36,292 shares of the firm’s stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $321.60, for a total value of $11,671,507.20. Following the completion of the transaction, the chief financial officer owned 327,760 shares in the company, valued at $105,407,616. This trade represents a 9.97% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Mark David Brazeal sold 50,488 shares of the stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $321.60, for a total transaction of $16,236,940.80. Following the completion of the sale, the insider directly owned 278,141 shares in the company, valued at approximately $89,450,145.60. The trade was a 15.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 324,282 shares of company stock worth $106,425,249 in the last ninety days. Company insiders own 1.90% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Wolfe Research raised Broadcom from a “peer perform” rating to an “outperform” rating and set a $400.00 target price on the stock in a research report on Friday, January 30th. Morgan Stanley lifted their price objective on shares of Broadcom from $462.00 to $470.00 and gave the stock an “overweight” rating in a research note on Friday, March 6th. Mizuho restated an “outperform” rating and issued a $480.00 target price on shares of Broadcom in a research report on Thursday, April 16th. Royal Bank Of Canada reduced their price target on shares of Broadcom from $370.00 to $340.00 and set a “sector perform” rating on the stock in a research report on Monday, March 2nd. Finally, Wells Fargo & Company restated an “overweight” rating and set a $545.00 price objective (up from $430.00) on shares of Broadcom in a research report on Thursday. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Broadcom currently has a consensus rating of “Moderate Buy” and an average target price of $442.13.

Broadcom Price Performance

Broadcom stock opened at $420.71 on Tuesday. Broadcom Inc. has a one year low of $221.60 and a one year high of $442.36. 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’s 50 day moving average is $367.36 and its 200 day moving average is $354.90. The firm has a market cap of $1.99 trillion, a P/E ratio of 82.17, a P/E/G ratio of 0.88 and a beta of 1.43.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 earnings per share for the quarter, beating the consensus estimate of $2.03 by $0.02. The business 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 for the quarter was up 29.5% compared to the same quarter last year. During the same quarter last year, the firm earned $1.60 EPS. As a group, research analysts expect that Broadcom Inc. will post 9.95 EPS for the current year.

Broadcom Dividend Announcement

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

Trending Headlines about Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom renewed its long-standing technology partnership with LSEG in a new five-year agreement centered on VMware Cloud Foundation, which expands Broadcom’s role in a mission-critical financial market infrastructure environment and reinforces recurring software demand. Article: LSEG Renews Partnership with Broadcom to Enhance Technology Infrastructure and Client Experience
• Positive Sentiment: The agreement includes Broadcom professional services to help roll out VMware Cloud Foundation 9, suggesting additional implementation revenue and deeper customer stickiness over time. Article: LSEG Renews Partnership with Broadcom to Enhance Technology Infrastructure and Client Experience
• Neutral Sentiment: Recent commentary continues to highlight Broadcom’s strong AI-related revenue growth and multiple bullish analyst price targets, which may help keep investor sentiment constructive. Article: ALAB vs. AVGO: Which AI Infrastructure Stock Is the Better Buy Now?
• Negative Sentiment: Despite the positive partnership news, Broadcom has recently been trading lower than the broader market, reflecting some near-term caution after a strong run-up. Article: Broadcom Inc. (AVGO) Declines More Than Market: Some Information for Investors

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.