Connecticut Capital Management Group LLC Invests $1.65 Million in Broadcom Inc. $AVGO

Connecticut Capital Management Group LLC purchased a new position in Broadcom Inc. (NASDAQ:AVGO) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 4,764 shares of the semiconductor manufacturer’s stock, valued at approximately $1,649,000. Broadcom makes up about 1.6% of Connecticut Capital Management Group LLC’s investment portfolio, making the stock its 18th biggest holding.

A number of other hedge funds have also recently made changes to their positions in AVGO. Brown Brothers Harriman & Co. grew its position in shares of 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 period. Dana Investment Advisors Inc. grew its position in shares of 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 period. Guinness Atkinson Asset Management Inc grew its position in shares of 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 period. Rockline Wealth Management LLC increased its stake in Broadcom by 19.8% in the 3rd quarter. Rockline Wealth Management LLC now owns 53,768 shares of the semiconductor manufacturer’s stock worth $17,739,000 after buying an additional 8,902 shares in the last quarter. Finally, Sovran Advisors LLC increased its stake in Broadcom by 121.3% in the 4th quarter. Sovran Advisors LLC now owns 30,631 shares of the semiconductor manufacturer’s stock worth $10,507,000 after buying an additional 16,789 shares in the last quarter. 76.43% of the stock is owned by institutional investors.

Key Stories Impacting Broadcom

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

Insider Activity at Broadcom

In related news, insider S. Ram Velaga sold 38,841 shares of the 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 $12,491,265.60. Following the transaction, the insider directly owned 96,147 shares in the company, valued at $30,920,875.20. This represents a 28.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Mark David Brazeal sold 50,488 shares of the stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $321.60, for a total transaction of $16,236,940.80. Following the completion of the transaction, the insider owned 278,141 shares in the company, valued at $89,450,145.60. This represents a 15.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 324,282 shares of company stock valued at $106,425,249 over the last ninety days. Company insiders own 1.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on AVGO shares. Susquehanna reiterated a “positive” rating and issued a $490.00 price target (up from $450.00) on shares of Broadcom in a research note on Thursday. Royal Bank Of Canada cut their price target on Broadcom from $370.00 to $340.00 and set a “sector perform” rating for the company in a research note on Monday, March 2nd. Benchmark reiterated a “buy” rating and issued a $485.00 price target on shares of Broadcom in a research note on Thursday, March 5th. Bank of America dropped their price objective on shares of Broadcom from $500.00 to $450.00 and set a “buy” rating for the company in a report on Thursday, March 5th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Broadcom from $475.00 to $500.00 and gave the company an “overweight” rating in a report on Thursday, March 5th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $455.07.

Broadcom Stock Performance

NASDAQ:AVGO opened at $459.97 on Tuesday. Broadcom Inc. has a 1 year low of $241.11 and a 1 year high of $466.05. The firm’s fifty day simple moving average is $386.31 and its 200 day simple moving average is $359.32. 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 firm has a market capitalization of $2.18 trillion, a PE ratio of 89.84, a PEG ratio of 0.92 and a beta of 1.41.

Broadcom (NASDAQ:AVGO) last posted its quarterly 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 net margin of 36.57% and a return on equity of 38.61%. The company had revenue of $19.31 billion for the quarter, compared to analyst estimates of $19.10 billion. During the same period last year, the business posted $1.60 EPS. The business’s quarterly revenue was up 29.5% on a year-over-year basis. On average, sell-side analysts anticipate that Broadcom Inc. will post 9.91 EPS for the current year.

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.