2,645 Shares in Broadcom Inc. $AVGO Bought by PICTET BANK & TRUST Ltd

PICTET BANK & TRUST Ltd bought a new stake in Broadcom Inc. (NASDAQ:AVGO) in the 4th quarter, Holdings Channel reports. The institutional investor bought 2,645 shares of the semiconductor manufacturer’s stock, valued at approximately $915,000. Broadcom accounts for about 1.1% of PICTET BANK & TRUST Ltd’s holdings, making the stock its 25th largest holding.

A number of other hedge funds have also recently made changes to their positions in the company. Teachers Insurance & Annuity Association of America bought a new position in Broadcom in the 2nd quarter valued at approximately $28,000. JCIC Asset Management Inc. bought a new stake in Broadcom during the 3rd quarter worth approximately $31,000. Miller Global Investments LLC acquired a new position in Broadcom in the 4th quarter valued at approximately $31,000. Manning & Napier Advisors LLC acquired a new position in Broadcom in the 3rd quarter valued at approximately $34,000. Finally, Evolution Wealth Management Inc. bought a new position in shares of Broadcom during the second quarter valued at $36,000. 76.43% of the stock is owned by institutional investors and hedge funds.

Broadcom Trading Down 0.0%

AVGO opened at $314.43 on Tuesday. Broadcom Inc. has a twelve month low of $138.10 and a twelve month high of $414.61. The company has a fifty day moving average of $324.52 and a 200-day moving average of $342.80. The stock has a market cap of $1.49 trillion, a PE ratio of 61.41, a price-to-earnings-growth ratio of 0.67 and a beta of 1.24. 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 released its earnings results on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 earnings per share (EPS) 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 analyst estimates of $19.10 billion. Broadcom had a net margin of 36.57% and a return on equity of 38.61%. Broadcom’s revenue for the quarter was up 29.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.60 earnings per share. On average, sell-side analysts predict that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Monday, March 23rd were paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend was Monday, March 23rd. Broadcom’s payout ratio is currently 50.78%.

Insiders Place Their Bets

In other Broadcom news, insider S. Ram Velaga sold 38,841 shares of the business’s stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $321.60, for a total value of $12,491,265.60. Following the transaction, the insider directly owned 96,147 shares of the company’s stock, valued at approximately $30,920,875.20. The trade was a 28.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Charlie B. Kawwas sold 39,116 shares of the stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $321.61, for a total value of $12,580,096.76. Following the transaction, the insider owned 74,626 shares in the company, valued at $24,000,467.86. The trade was a 34.39% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 273,049 shares of company stock valued at $88,300,115 over the last 90 days. 1.90% of the stock is owned by company insiders.

More Broadcom News

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom signed a long-term agreement with Google to develop and supply future generations of custom AI chips and other components for Google’s next?generation AI racks through 2031, giving Broadcom multi?year design wins and meaningful revenue visibility. Read More.
• Positive Sentiment: Broadcom expanded its strategic collaboration involving Anthropic, agreeing to provide additional computing capacity (reported ~3.5 GW of capacity sourced from Google’s AI processors), which supports near?term utilization and potential recurring revenue from cloud/AI services. Read More.
• Positive Sentiment: Market reaction: the stock climbed in after?hours trading after Broadcom filed the deal details, reflecting investor enthusiasm for large, long?duration AI contracts and the potential uplift to AI chip and networking sales. Read More.
• Neutral Sentiment: Management outlook: CEO Hock Tan has outlined a vision that AI chip revenue could exceed $100 billion by 2027 — a bullish long?term target that supports upside expectations but depends on execution, ramp timing and contract economics. Read More.
• Neutral Sentiment: Product diversification: Broadcom launched Symantec CBX, an AI?powered cloud XDR/security platform that broadens its software/security mix and could smooth revenue cyclicality over time. Read More.
• Negative Sentiment: Analyst action: Erste Group trimmed its rating on Broadcom to Hold, a reminder that some sell?side firms remain cautious on valuation and near?term expectations despite the AI deal flow. Read More.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. KeyCorp reissued an “overweight” rating and issued a $500.00 price objective (up from $460.00) on shares of Broadcom in a research note on Friday, December 12th. DA Davidson raised Broadcom to a “hold” rating in a research report on Friday, February 13th. Robert W. Baird set a $420.00 target price on Broadcom in a report on Friday, December 12th. Benchmark reiterated a “buy” rating and issued a $485.00 price target on shares of Broadcom in a research report on Thursday, March 5th. Finally, JPMorgan Chase & Co. increased their price target on Broadcom from $475.00 to $500.00 and gave the company an “overweight” rating in a research note on Thursday, March 5th. One research analyst has rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $435.30.

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.