Broadcom Inc. $AVGO is Darden Wealth Group Inc’s 6th Largest Position

Darden Wealth Group Inc increased its position in Broadcom Inc. (NASDAQ:AVGO) by 9.3% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 22,209 shares of the semiconductor manufacturer’s stock after purchasing an additional 1,891 shares during the period. Broadcom accounts for about 3.7% of Darden Wealth Group Inc’s holdings, making the stock its 6th biggest holding. Darden Wealth Group Inc’s holdings in Broadcom were worth $7,687,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in AVGO. Whittier Trust Co. of Nevada Inc. raised its stake in Broadcom by 3.4% during 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 acquiring an additional 10,786 shares during the last quarter. Brown Brothers Harriman & Co. raised its stake in Broadcom by 10.7% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 77,411 shares of the semiconductor manufacturer’s stock valued at $25,539,000 after acquiring an additional 7,499 shares during the last quarter. Dana Investment Advisors Inc. raised its stake in Broadcom by 2.6% during the 3rd quarter. Dana Investment Advisors Inc. now owns 173,759 shares of the semiconductor manufacturer’s stock valued at $57,325,000 after acquiring an additional 4,442 shares during the last quarter. Guinness Atkinson Asset Management Inc raised its stake in Broadcom by 248.2% during the 3rd quarter. Guinness Atkinson Asset Management Inc now owns 26,238 shares of the semiconductor manufacturer’s stock valued at $8,603,000 after acquiring an additional 18,703 shares during the last quarter. Finally, Rockline Wealth Management LLC raised its stake in Broadcom by 19.8% during the 3rd quarter. Rockline Wealth Management LLC now owns 53,768 shares of the semiconductor manufacturer’s stock valued at $17,739,000 after acquiring an additional 8,902 shares during the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

AVGO has been the subject of several analyst reports. Citigroup reaffirmed a “buy” rating and set a $500.00 price objective (up from $475.00) on shares of Broadcom in a research note on Tuesday, May 12th. Weiss Ratings raised Broadcom from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday. Wells Fargo & Company reaffirmed an “overweight” rating and set a $545.00 price objective (up from $430.00) on shares of Broadcom in a research note on Thursday, May 14th. Evercore reaffirmed an “outperform” rating and set a $582.00 price objective on shares of Broadcom in a research note on Tuesday, May 19th. Finally, Bank of America reduced their price objective on Broadcom from $500.00 to $450.00 and set a “buy” rating for the company in a research note on Thursday, March 5th. One analyst has rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $454.55.

Broadcom Stock Performance

NASDAQ AVGO opened at $426.58 on Friday. The company has a current ratio of 1.90, a quick ratio of 1.73 and a debt-to-equity ratio of 0.80. The business’s 50 day moving average is $380.90 and its two-hundred day moving average is $357.94. Broadcom Inc. has a 12-month low of $234.90 and a 12-month high of $442.36. The stock has a market capitalization of $2.02 trillion, a price-to-earnings ratio of 83.32, a PEG ratio of 0.87 and a beta of 1.43.

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, topping the consensus estimate of $2.03 by $0.02. Broadcom had a return on equity of 38.61% and a net margin of 36.57%.The company had revenue of $19.31 billion for the quarter, compared to analysts’ expectations of $19.10 billion. During the same quarter in the previous year, the firm posted $1.60 EPS. The firm’s quarterly revenue was up 29.5% on a year-over-year basis. Research analysts expect that Broadcom Inc. will post 9.91 EPS for the current year.

Broadcom Announces Dividend

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

Key Broadcom News

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom unveiled new BCM68850 and Wi?Fi 8 home gateway products that combine 50G fiber, an on-chip NPU, and edge-AI capabilities, strengthening its position in next-generation consumer networking and AI-at-the-edge use cases. Article: Broadcom’s BCM68850 Boosts AVGO’s Edge AI Push: More Upside Ahead?
• Positive Sentiment: Broadcom announced a partnership with Samsung Electronics to launch an integrated 5G and Wi?Fi 8 fixed wireless access platform, expanding its broadband footprint and supporting demand for its networking silicon. Article: Broadcom Unveils World’s First Integrated 5G and Wi-Fi 8 FWA Platform in Collaboration with Samsung Electronics
• Positive Sentiment: Broadcom also launched what it says are the industry’s first integrated Wi?Fi 8 SoCs for mesh and multi-gigabit routers, adding another catalyst for its connectivity and home-networking business. Article: Broadcom Delivers Industry’s First Integrated Wi-Fi 8 SoCs to Power Next-Gen Mesh and Multi-Gigabit Routers
• Positive Sentiment: Evercore ISI raised its price target on Broadcom and kept an Outperform rating, reflecting confidence in the company’s AI infrastructure opportunity and supporting the stock’s momentum. Article: Broadcom (AVGO) Could Be Positioned For The Next Big Shift In AI Infrastructure
• Positive Sentiment: Analyst commentary continues to frame Broadcom as a “safe” long-term AI and networking holding, which may be helping sentiment as the stock approaches recent highs. Article: AI Can’t Reach the Real World Without These 3 Stocks
• Neutral Sentiment: The stock is also drawing attention because it is trading near its 52-week high ahead of earnings, which may keep volatility elevated as investors weigh whether the current valuation is fully priced in. Article: Broadcom Nearing 52-Week High: Buy, Sell or Hold?

Insiders Place Their Bets

In related news, insider S. Ram Velaga sold 38,841 shares of the company’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 sale, the insider owned 96,147 shares in the company, valued at $30,920,875.20. This represents a 28.77% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Charlie B. Kawwas sold 39,116 shares of the company’s 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 completion of the sale, the insider owned 74,626 shares in the company, valued at approximately $24,000,467.86. This represents a 34.39% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 324,282 shares of company stock worth $106,425,249. Company insiders own 1.90% of the company’s stock.

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.