Broadcom Inc. $AVGO is Danske Bank A S’s 7th Largest Position

Danske Bank A S raised its position in Broadcom Inc. (NASDAQ:AVGO) by 6.3% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 3,182,390 shares of the semiconductor manufacturer’s stock after acquiring an additional 189,187 shares during the period. Broadcom makes up about 2.6% of Danske Bank A S’s holdings, making the stock its 7th largest holding. Danske Bank A S’s holdings in Broadcom were worth $1,101,425,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Providence First Trust Co lifted its stake in shares of Broadcom by 1,099.3% during the 3rd quarter. Providence First Trust Co now owns 8,923 shares of the semiconductor manufacturer’s stock valued at $2,944,000 after buying an additional 8,179 shares in the last quarter. Whittier Trust Co. of Nevada Inc. grew its stake in Broadcom by 3.4% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 323,587 shares of the semiconductor manufacturer’s stock valued at $109,492,000 after buying an additional 10,786 shares in the last quarter. Lmcg Investments LLC raised its holdings in Broadcom by 9.4% during the 3rd quarter. Lmcg Investments LLC now owns 38,961 shares of the semiconductor manufacturer’s stock valued at $12,854,000 after acquiring an additional 3,357 shares during the period. Wright Investors Service Inc. lifted its position in shares of Broadcom by 5.4% during the third quarter. Wright Investors Service Inc. now owns 42,159 shares of the semiconductor manufacturer’s stock worth $13,909,000 after acquiring an additional 2,178 shares in the last quarter. Finally, Brown Brothers Harriman & Co. lifted its position in shares of Broadcom by 10.7% during the third quarter. Brown Brothers Harriman & Co. now owns 77,411 shares of the semiconductor manufacturer’s stock worth $25,539,000 after acquiring an additional 7,499 shares in the last quarter. Institutional investors own 76.43% of the company’s stock.

Insiders Place Their Bets

In related news, insider Mark David Brazeal sold 50,488 shares of the company’s stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $321.60, for a total value of $16,236,940.80. Following the transaction, the insider directly owned 278,141 shares in the company, valued at approximately $89,450,145.60. This represents a 15.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Charlie B. Kawwas sold 39,116 shares of the firm’s stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $321.61, for a total transaction of $12,580,096.76. Following the completion of the sale, the insider directly owned 74,626 shares in the company, valued at $24,000,467.86. This represents a 34.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 324,282 shares of company stock worth $106,425,249 over the last three months. Company insiders own 1.90% of the company’s stock.

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

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Wolfe Research upgraded Broadcom from a “peer perform” rating to an “outperform” rating and set a $400.00 price target for the company in a research report on Friday, January 30th. Wells Fargo & Company raised Broadcom from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $410.00 to $430.00 in a report on Thursday, January 15th. Benchmark restated a “buy” rating and issued a $485.00 target price on shares of Broadcom in a research note on Thursday, March 5th. Rosenblatt Securities reaffirmed a “buy” rating and set a $500.00 target price on shares of Broadcom in a report on Tuesday, April 7th. Finally, Seaport Research Partners reiterated a “neutral” rating on shares of Broadcom in a research report on Wednesday, April 8th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $435.30.

Broadcom Trading Up 4.2%

Shares of AVGO stock opened at $430.00 on Friday. 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 Inc. has a 52-week low of $206.52 and a 52-week high of $437.68. The company has a market capitalization of $2.04 trillion, a PE ratio of 83.98, a price-to-earnings-growth ratio of 0.85 and a beta of 1.43. The business’s fifty day moving average is $352.89 and its 200 day moving average is $351.28.

Broadcom (NASDAQ:AVGO) last posted its earnings results on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 EPS for the quarter, topping the consensus estimate of $2.03 by $0.02. The business had revenue of $19.31 billion during the quarter, compared to analysts’ expectations of $19.10 billion. Broadcom had a return on equity of 38.61% and a net margin of 36.57%.The firm’s revenue was up 29.5% on a year-over-year basis. During the same period in the previous year, the business earned $1.60 earnings per share. On average, equities research analysts anticipate that Broadcom Inc. will post 9.95 EPS for the current fiscal 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 issued a dividend of $0.65 per share. The ex-dividend date of this dividend was Monday, March 23rd. This represents a $2.60 annualized dividend and a dividend yield of 0.6%. Broadcom’s payout ratio is presently 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.