Jupiter Asset Management Ltd. Has $213.54 Million Stock Position in Broadcom Inc. $AVGO

Jupiter Asset Management Ltd. decreased its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 15.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 616,986 shares of the semiconductor manufacturer’s stock after selling 110,135 shares during the period. Broadcom accounts for about 1.7% of Jupiter Asset Management Ltd.’s holdings, making the stock its 6th largest holding. Jupiter Asset Management Ltd.’s holdings in Broadcom were worth $213,539,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of AVGO. Brighton Jones LLC raised its position in Broadcom by 21.8% during the 4th quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer’s stock valued at $6,882,000 after purchasing an additional 5,322 shares during the last quarter. Revolve Wealth Partners LLC raised its position in Broadcom by 10.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 7,997 shares of the semiconductor manufacturer’s stock valued at $1,854,000 after purchasing an additional 756 shares during the last quarter. United Bank raised its position in Broadcom by 76.5% during the 1st quarter. United Bank now owns 2,339 shares of the semiconductor manufacturer’s stock valued at $392,000 after purchasing an additional 1,014 shares during the last quarter. Sivia Capital Partners LLC raised its position in Broadcom by 10.1% during the 2nd quarter. Sivia Capital Partners LLC now owns 12,693 shares of the semiconductor manufacturer’s stock valued at $3,499,000 after purchasing an additional 1,160 shares during the last quarter. Finally, Capital & Planning LLC raised its position in Broadcom by 10.5% during the 2nd quarter. Capital & Planning LLC now owns 3,983 shares of the semiconductor manufacturer’s stock valued at $1,098,000 after purchasing an additional 378 shares during the last quarter. Institutional investors own 76.43% of the company’s stock.

Broadcom News Summary

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom unveiled new broadband and Wi?Fi 8 connectivity innovations with an embedded NPU, reinforcing its AI-at-the-edge growth story and expanding its product pipeline. Article link
• Positive Sentiment: Morgan Stanley raised its price target on Broadcom to $485 and kept an overweight rating, signaling continued analyst confidence ahead of earnings.
• Positive Sentiment: Broadcom is attracting bullish investor attention as traders bet on strong AI-chip demand and a potential breakout after earnings, with several articles calling it a top stock to watch. Article link
• Positive Sentiment: Broadcom is being highlighted by market commentators and bullish research as an AI leader and a long-term growth stock, which is helping sentiment into the earnings print.
• Neutral Sentiment: Some coverage notes that expectations are very high, with the stock trading at a premium valuation, so the upcoming earnings report will need to be strong to justify the move. Article link
• Neutral Sentiment: Traders are expecting a large post-earnings swing, which reflects uncertainty as much as optimism.
• Negative Sentiment: Bearish commentary from one market watcher suggests some investors are hedging ahead of the report, reflecting concern that the stock’s elevated valuation leaves little room for disappointment. Article link

Broadcom Stock Performance

Broadcom stock opened at $459.97 on Tuesday. The company has a quick ratio of 1.73, a current ratio of 1.90 and a debt-to-equity ratio of 0.80. The company has a market capitalization of $2.18 trillion, a P/E ratio of 89.84, a PEG ratio of 0.92 and a beta of 1.41. The stock’s 50 day moving average is $386.31 and its 200 day moving average is $359.32. Broadcom Inc. has a twelve month low of $241.11 and a twelve month high of $466.05.

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, topping the consensus estimate of $2.03 by $0.02. The company had revenue of $19.31 billion for the quarter, compared to the consensus estimate of $19.10 billion. Broadcom had a return on equity of 38.61% and a net margin of 36.57%.The firm’s quarterly revenue was up 29.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.60 EPS. On average, equities research analysts predict that Broadcom Inc. will post 9.91 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Justine Page sold 2,018 shares of the company’s stock in a transaction that occurred 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 owned 18,164 shares in the company, valued at $6,411,892. This represents a 10.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Gayla J. Delly sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, April 9th. The stock was sold at an average price of $358.31, for a total value of $358,310.00. Following the completion of the sale, the director owned 32,352 shares in the company, valued at $11,592,045.12. The trade was a 3.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 324,282 shares of company stock worth $106,425,249 over the last three months. Corporate insiders own 1.90% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on AVGO. Susquehanna reissued a “positive” rating and issued a $490.00 target price (up from $450.00) on shares of Broadcom in a research report on Thursday. Zacks Research lowered Broadcom from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 21st. Truist Financial increased their target price on Broadcom from $510.00 to $545.00 and gave the stock a “buy” rating in a research report on Thursday, March 5th. TD Cowen reissued a “buy” rating and issued a $500.00 target price (up from $405.00) on shares of Broadcom in a research report on Friday, May 15th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $500.00 target price on shares of Broadcom in a research report on Tuesday, April 7th. One investment analyst has rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $455.07.

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.