Broadcom Inc. $AVGO is Invesco Ltd.’s 7th Largest Position

Invesco Ltd. trimmed its position in Broadcom Inc. (NASDAQ:AVGO) by 11.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 34,650,883 shares of the semiconductor manufacturer’s stock after selling 4,498,768 shares during the period. Broadcom accounts for 1.8% of Invesco Ltd.’s portfolio, making the stock its 7th biggest position. Invesco Ltd. owned approximately 0.73% of Broadcom worth $11,992,671,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Broadcom during the 4th quarter valued at $24,252,196,000. Cardano Risk Management B.V. lifted its position in Broadcom by 895.2% during the 4th quarter. Cardano Risk Management B.V. now owns 12,689,800 shares of the semiconductor manufacturer’s stock valued at $4,391,940,000 after acquiring an additional 11,414,701 shares during the period. State Street Corp lifted its position in Broadcom by 2.7% during the 4th quarter. State Street Corp now owns 190,084,351 shares of the semiconductor manufacturer’s stock valued at $65,788,194,000 after acquiring an additional 5,040,801 shares during the period. Arrowstreet Capital Limited Partnership boosted its stake in Broadcom by 499.4% during the third quarter. Arrowstreet Capital Limited Partnership now owns 5,634,232 shares of the semiconductor manufacturer’s stock worth $1,858,789,000 after acquiring an additional 4,694,313 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in Broadcom by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 482,707,302 shares of the semiconductor manufacturer’s stock worth $167,064,997,000 after purchasing an additional 3,919,715 shares during the period. Institutional investors own 76.43% of the company’s stock.

Insider Transactions at Broadcom

In other news, Director Justine Page sold 2,018 shares of the firm’s stock in a transaction dated Wednesday, April 8th. The shares were sold at an average price of $353.00, for a total transaction of $712,354.00. Following the sale, the director owned 18,164 shares of the company’s stock, valued at $6,411,892. This trade represents a 10.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider S. Ram Velaga sold 17,260 shares of Broadcom stock in a transaction that occurred on Thursday, April 9th. The stock was sold at an average price of $352.12, for a total transaction of $6,077,591.20. Following the completion of the sale, the insider directly owned 65,932 shares of the company’s stock, valued at approximately $23,215,975.84. This trade represents a 20.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 59,385 shares of company stock valued at $21,301,057. Insiders own 1.90% of the company’s stock.

Broadcom News Roundup

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom expanded its cash tender offers for outstanding debt to $3 billion from $2.5 billion after strong investor demand, which can be viewed as a sign of balance-sheet management and helped lift sentiment toward the stock. Broadcom Inc. Announces Results and Upsize of Offers to Purchase for Cash Certain of its Outstanding Debt Securities
• Positive Sentiment: JPMorgan reiterated a bullish view, saying investors should be “aggressive buyers” and arguing the market is underestimating Broadcom’s long-term AI opportunity, reinforcing the rally in AVGO. AVGO stock jumps — JPMorgan says investors should be ‘aggressive buyers’ of Broadcom at current levels
• Positive Sentiment: Citi also highlighted Broadcom as a top chip stock on soaring data-center demand, adding to optimism around AI-driven revenue growth. Citi Touts Broadcom Inc. (AVGO) as a Top Chip Stock on Soaring Data Center Demand
• Neutral Sentiment: Insider Mark David Brazeal sold shares in two June transactions totaling more than 8,100 shares. The sales are notable, but they represent relatively small reductions in a large personal holding and do not necessarily signal a change in the company’s outlook. Mark David Brazeal insider trading page

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. KeyCorp reaffirmed an “overweight” rating and set a $575.00 target price (up from $500.00) on shares of Broadcom in a research note on Thursday, June 4th. Benchmark upped their price target on Broadcom from $485.00 to $545.00 and gave the stock a “buy” rating in a research note on Thursday, June 4th. Citigroup reaffirmed a “buy” rating on shares of Broadcom in a research report on Thursday, June 4th. Mizuho lifted their price objective on Broadcom from $480.00 to $530.00 and gave the company an “outperform” rating in a research note on Thursday, June 4th. Finally, Jefferies Financial Group set a $550.00 target price on Broadcom and gave the stock a “buy” rating in a report on Thursday, June 4th. One investment analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, Broadcom currently has a consensus rating of “Moderate Buy” and a consensus target price of $490.13.

Broadcom Trading Up 4.7%

Shares of NASDAQ AVGO opened at $411.35 on Friday. The firm’s 50 day moving average price is $410.21 and its 200-day moving average price is $363.17. Broadcom Inc. has a 52-week low of $244.17 and a 52-week high of $495.00. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.01 and a current ratio of 2.24. The company has a market cap of $1.96 trillion, a PE ratio of 68.56, a P/E/G ratio of 0.69 and a beta of 1.41.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share for the quarter, beating the consensus estimate of $2.40 by $0.04. Broadcom had a net margin of 38.85% and a return on equity of 41.61%. The company had revenue of $22.19 billion during the quarter, compared to the consensus estimate of $22.13 billion. During the same quarter last year, the firm earned $1.58 earnings per share. The firm’s quarterly revenue was up 47.9% compared to the same quarter last year. On average, equities research analysts expect that Broadcom Inc. will post 10.24 EPS for the current fiscal year.

Broadcom Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 22nd will be issued a $0.65 dividend. The ex-dividend date of this dividend is Monday, June 22nd. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.6%. Broadcom’s dividend payout ratio (DPR) is presently 43.33%.

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.