New York Life Investment Management LLC Acquires 17,958 Shares of Broadcom Inc. $AVGO

New York Life Investment Management LLC grew its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 2.8% during the 4th quarter, HoldingsChannel reports. The firm owned 657,003 shares of the semiconductor manufacturer’s stock after buying an additional 17,958 shares during the period. Broadcom comprises approximately 2.0% of New York Life Investment Management LLC’s holdings, making the stock its 7th biggest position. New York Life Investment Management LLC’s holdings in Broadcom were worth $227,389,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Cornerstone Wealth Management LLC boosted its stake in Broadcom by 9.2% during the 4th quarter. Cornerstone Wealth Management LLC now owns 18,570 shares of the semiconductor manufacturer’s stock worth $6,427,000 after purchasing an additional 1,569 shares during the last quarter. Granite Bay Wealth Management LLC boosted its stake in Broadcom by 30.8% during the 4th quarter. Granite Bay Wealth Management LLC now owns 1,214 shares of the semiconductor manufacturer’s stock worth $420,000 after purchasing an additional 286 shares during the last quarter. Simmons Bank boosted its stake in Broadcom by 4.9% during the 4th quarter. Simmons Bank now owns 22,575 shares of the semiconductor manufacturer’s stock worth $7,813,000 after purchasing an additional 1,055 shares during the last quarter. Berkeley Capital Partners LLC boosted its stake in Broadcom by 10.1% during the 4th quarter. Berkeley Capital Partners LLC now owns 5,124 shares of the semiconductor manufacturer’s stock worth $1,773,000 after purchasing an additional 470 shares during the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich boosted its holdings in shares of Broadcom by 14.8% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,888,778 shares of the semiconductor manufacturer’s stock worth $654,356,000 after purchasing an additional 243,093 shares during the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom Trading Down 2.3%

AVGO opened at $411.07 on Wednesday. Broadcom Inc. has a one year low of $226.18 and a one year high of $442.36. The stock has a market capitalization of $1.95 trillion, a PE ratio of 80.29, a P/E/G ratio of 0.87 and a beta of 1.43. The business’s 50 day moving average price is $368.97 and its 200 day moving average price is $355.08. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.73 and a current ratio of 1.90.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 EPS 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 firm had revenue of $19.31 billion for the quarter, compared to analysts’ expectations of $19.10 billion. During the same period in the prior year, the firm posted $1.60 earnings per share. The firm’s quarterly revenue was up 29.5% on a year-over-year basis. As a group, equities research analysts expect that Broadcom Inc. will post 9.97 EPS for the current year.

Broadcom Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Monday, March 23rd were given a $0.65 dividend. The ex-dividend date of this dividend 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 presently 50.78%.

More Broadcom News

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

Insider Activity at Broadcom

In other Broadcom news, insider S. Ram Velaga sold 38,841 shares of the company’s stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $321.60, for a total value of $12,491,265.60. Following the transaction, the insider owned 96,147 shares of the company’s stock, valued at $30,920,875.20. This represents a 28.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Kirsten M. Spears sold 36,292 shares of the company’s stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $321.60, for a total transaction of $11,671,507.20. Following the completion of the transaction, the chief financial officer directly owned 327,760 shares in the company, valued at $105,407,616. The trade was a 9.97% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 324,282 shares of company stock worth $106,425,249. 1.90% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have recently weighed in on AVGO shares. Rosenblatt Securities restated a “buy” rating and set a $500.00 target price on shares of Broadcom in a report on Tuesday, April 7th. JPMorgan Chase & Co. boosted their target price on Broadcom from $475.00 to $500.00 and gave the stock an “overweight” rating in a report on Thursday, March 5th. Morgan Stanley boosted their target price on Broadcom from $462.00 to $470.00 and gave the stock an “overweight” rating in a report on Friday, March 6th. Citigroup restated a “buy” rating and set a $500.00 target price (up from $475.00) on shares of Broadcom in a report on Tuesday, May 12th. Finally, TD Cowen restated a “buy” rating and set a $500.00 target price (up from $405.00) on shares of Broadcom in a report on Friday. 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. Based on data from MarketBeat, Broadcom has an average rating of “Moderate Buy” and an average target price of $448.10.

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.