AEGON ASSET MANAGEMENT UK Plc Sells 4,392 Shares of Broadcom Inc. $AVGO

AEGON ASSET MANAGEMENT UK Plc reduced its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 0.4% in the 1st quarter, Holdings Channel reports. The fund owned 1,230,382 shares of the semiconductor manufacturer’s stock after selling 4,392 shares during the period. Broadcom makes up 5.0% of AEGON ASSET MANAGEMENT UK Plc’s investment portfolio, making the stock its 4th largest position. AEGON ASSET MANAGEMENT UK Plc’s holdings in Broadcom were worth $379,055,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of AVGO. Vanguard Group Inc. lifted its stake in shares of Broadcom by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 482,707,302 shares of the semiconductor manufacturer’s stock valued at $167,064,997,000 after purchasing an additional 3,919,715 shares during the period. State Street Corp grew its position in Broadcom by 2.7% during the fourth quarter. State Street Corp now owns 190,084,351 shares of the semiconductor manufacturer’s stock valued at $65,788,194,000 after buying an additional 5,040,801 shares during the period. Geode Capital Management LLC increased its holdings in Broadcom by 1.4% in the fourth quarter. Geode Capital Management LLC now owns 111,277,280 shares of the semiconductor manufacturer’s stock valued at $38,396,634,000 after buying an additional 1,548,699 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Broadcom by 3.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 85,546,083 shares of the semiconductor manufacturer’s stock valued at $29,607,500,000 after buying an additional 2,491,644 shares in the last quarter. Finally, Norges Bank purchased a new position in Broadcom in the fourth quarter valued at $24,252,196,000. 76.43% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Mark David Brazeal sold 4,825 shares of the company’s stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $394.91, for a total transaction of $1,905,440.75. Following the completion of the sale, the insider owned 269,989 shares of the company’s stock, valued at approximately $106,621,355.99. This represents a 1.76% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Harry L. You acquired 1,000 shares of the business’s stock in a transaction on Thursday, June 11th. The stock was acquired at an average price of $373.57 per share, with a total value of $373,570.00. Following the acquisition, the director owned 38,466 shares in the company, valued at $14,369,743.62. The trade was a 2.67% increase in their position. The SEC filing for this purchase provides additional information. Insiders sold 59,385 shares of company stock valued at $21,301,057 in the last three months. Company insiders own 1.90% of the company’s stock.

Broadcom Trading Down 4.7%

Shares of Broadcom stock opened at $392.13 on Tuesday. The company has a current ratio of 2.24, a quick ratio of 2.01 and a debt-to-equity ratio of 0.71. Broadcom Inc. has a twelve month low of $246.46 and a twelve month high of $495.00. The firm has a market capitalization of $1.87 trillion, a PE ratio of 65.36, a P/E/G ratio of 0.72 and a beta of 1.41. The firm’s 50-day moving average price is $412.17 and its 200 day moving average price is $363.42.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 EPS for the quarter, topping the consensus estimate of $2.40 by $0.04. Broadcom had a return on equity of 41.61% and a net margin of 38.85%.The company had revenue of $22.19 billion during the quarter, compared to analyst estimates of $22.13 billion. During the same period in the previous year, the business earned $1.58 EPS. Broadcom’s quarterly revenue was up 47.9% on a year-over-year basis. On average, sell-side analysts predict that Broadcom Inc. will post 10.24 EPS for the current fiscal year.

Broadcom Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 22nd will be given a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Monday, June 22nd. Broadcom’s payout ratio is presently 43.33%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on AVGO shares. Bank of America increased their target price on shares of Broadcom from $450.00 to $530.00 and gave the stock a “buy” rating in a research note on Thursday, June 4th. Jefferies Financial Group set a $550.00 price target on Broadcom and gave the company a “buy” rating in a research note on Thursday, June 4th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $525.00 price target on shares of Broadcom in a report on Thursday, June 4th. KeyCorp reiterated an “overweight” rating and set a $575.00 price target (up from $500.00) on shares of Broadcom in a research report on Thursday, June 4th. Finally, UBS Group set a $485.00 price objective on Broadcom and gave the company a “buy” rating in a report on Thursday, June 4th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $490.13.

Broadcom News Summary

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Analysts and market commentators are pointing to Broadcom’s strong AI demand as the main reason to stay bullish. Recent coverage highlighted record semiconductor sales, AI chip and networking demand, and strong customer commitments as evidence that the company’s AI growth story remains intact. Broadcom’s AI Push Boosts Semiconductor Sales: More Upside Ahead?
• Positive Sentiment: JPMorgan reportedly reiterated buy-the-dip optimism, citing Broadcom’s multi-year Google partnership, record quarterly revenue of $22.19 billion, and AI semiconductor sales of $10.8 billion, up 143% year over year. The note also pointed to expectations for another step-up in AI-chip growth next quarter. Broadcom’s AI boom — Google deal and huge revenue growth spark buy-the-dip calls
• Positive Sentiment: Several pieces argue that the market is overreacting to a modest AI revenue guide and that the selloff has created an accumulation opportunity. They emphasize that Broadcom’s revenue, semiconductor growth, AI bookings, and backlog are all at record levels, which supports the longer-term investment case. The Grandest Castle Ever Floated (and the Stocks to Profit From It)
• Positive Sentiment: Broadcom is also attracting broader investor attention and continued analyst support, including a consensus “Moderate Buy” rating, which may help stabilize sentiment after the recent decline. Broadcom Inc. (NASDAQ:AVGO) Receives Consensus Recommendation of “Moderate Buy” from Analysts

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.