Broadcom Inc. $AVGO Stock Position Raised by Alberta Investment Management Corp

Alberta Investment Management Corp grew its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 114.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 174,000 shares of the semiconductor manufacturer’s stock after buying an additional 92,700 shares during the quarter. Alberta Investment Management Corp’s holdings in Broadcom were worth $60,221,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. ROSS JOHNSON & Associates LLC lifted its stake in Broadcom by 1,320.0% in the fourth quarter. ROSS JOHNSON & Associates LLC now owns 71 shares of the semiconductor manufacturer’s stock valued at $25,000 after acquiring an additional 66 shares during the last quarter. SWAN Capital LLC grew its position in Broadcom by 261.9% in the fourth quarter. SWAN Capital LLC now owns 76 shares of the semiconductor manufacturer’s stock worth $26,000 after acquiring an additional 55 shares in the last quarter. Miller Global Investments LLC acquired a new position in shares of Broadcom during the 4th quarter worth $31,000. Nvest Wealth Strategies Inc. acquired a new position in shares of Broadcom during the 4th quarter worth $33,000. Finally, Family CFO Inc bought a new position in shares of Broadcom during the 4th quarter valued at $35,000. Institutional investors own 76.43% of the company’s stock.

Key Stories Impacting Broadcom

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

Broadcom Price Performance

Shares of Broadcom stock opened at $411.35 on Friday. The firm has a market cap of $1.96 trillion, a P/E ratio of 68.56, a price-to-earnings-growth ratio of 0.69 and a beta of 1.41. The firm’s 50-day simple moving average is $410.21 and its 200-day simple moving average is $363.17. Broadcom Inc. has a twelve month low of $244.17 and a twelve month 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.

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

Broadcom Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 22nd will be paid a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 0.6%. The ex-dividend date is Monday, June 22nd. Broadcom’s dividend payout ratio is currently 43.33%.

Insiders Place Their Bets

In other news, insider S. Ram Velaga sold 17,260 shares of the stock in a transaction that occurred on Thursday, April 9th. The stock was sold at an average price of $352.12, for a total value of $6,077,591.20. Following the completion of the transaction, the insider directly owned 65,932 shares of the company’s stock, valued at approximately $23,215,975.84. This represents a 20.75% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Charlie B. Kawwas sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 8th. The stock was sold at an average price of $345.23, for a total value of $3,452,300.00. Following the transaction, the insider owned 787,184 shares of the company’s stock, valued at $271,759,532.32. This trade represents a 1.25% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 59,385 shares of company stock worth $21,301,057 in the last 90 days. 1.90% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

AVGO has been the topic of several recent research reports. UBS Group set a $485.00 target price on Broadcom and gave the company a “buy” rating in a report on Thursday, June 4th. Bank of America upped their target price on shares of Broadcom from $450.00 to $530.00 and gave the company a “buy” rating in a research note on Thursday, June 4th. Royal Bank Of Canada increased their price target on shares of Broadcom from $360.00 to $400.00 and gave the company a “sector perform” rating in a report on Thursday, June 4th. Citigroup restated a “buy” rating on shares of Broadcom in a research report on Thursday, June 4th. Finally, Morgan Stanley set a $502.00 price objective on shares of Broadcom and gave the stock an “overweight” rating in a report on Thursday, June 4th. One analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Broadcom currently has a consensus rating of “Moderate Buy” and an average target price of $490.13.

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.