Resona Asset Management Co. Ltd. Has $428.71 Million Stock Holdings in Broadcom Inc. $AVGO

Resona Asset Management Co. Ltd. lifted its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 2.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,399,140 shares of the semiconductor manufacturer’s stock after acquiring an additional 29,773 shares during the period. Broadcom makes up about 2.1% of Resona Asset Management Co. Ltd.’s investment portfolio, making the stock its 7th largest holding. Resona Asset Management Co. Ltd.’s holdings in Broadcom were worth $428,711,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of AVGO. ROSS JOHNSON & Associates LLC lifted its position in Broadcom by 1,320.0% during the 4th quarter. ROSS JOHNSON & Associates LLC now owns 71 shares of the semiconductor manufacturer’s stock worth $25,000 after buying an additional 66 shares in the last quarter. Networth Advisors LLC raised its holdings in Broadcom by 546.2% during the first quarter. Networth Advisors LLC now owns 84 shares of the semiconductor manufacturer’s stock worth $26,000 after acquiring an additional 71 shares in the last quarter. SWAN Capital LLC increased its position in shares of Broadcom by 261.9% during the 4th quarter. SWAN Capital LLC now owns 76 shares of the semiconductor manufacturer’s stock worth $26,000 after purchasing an additional 55 shares during the last quarter. Miller Global Investments LLC bought a new stake in shares of Broadcom during the 4th quarter worth approximately $31,000. Finally, Nvest Wealth Strategies Inc. acquired a new stake in shares of Broadcom in the 4th quarter valued at approximately $33,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Wall Street Zen upgraded shares of Broadcom from a “buy” rating to a “strong-buy” rating in a report on Wednesday, July 1st. Royal Bank Of Canada lifted their price objective on shares of Broadcom from $360.00 to $400.00 and gave the company a “sector perform” rating in a research report on Thursday, June 4th. DA Davidson boosted their price objective on shares of Broadcom from $375.00 to $400.00 and gave the stock a “neutral” rating in a research note on Thursday, June 4th. Benchmark upped their target price on shares of Broadcom from $485.00 to $545.00 and gave the company a “buy” rating in a report on Thursday, June 4th. Finally, Jefferies Financial Group set a $550.00 target price on shares of Broadcom and gave the company a “buy” rating in a research note on Thursday, June 4th. One investment analyst has rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, Broadcom has an average rating of “Moderate Buy” and an average price target of $493.24.

Broadcom Stock Performance

AVGO stock opened at $399.97 on Monday. 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’s 50-day simple moving average is $405.29 and its 200 day simple moving average is $364.28. Broadcom Inc. has a 52 week low of $269.58 and a 52 week high of $495.00. The company has a market capitalization of $1.90 trillion, a PE ratio of 66.66, a price-to-earnings-growth ratio of 0.70 and a beta of 1.45.

Broadcom (NASDAQ:AVGO) last announced its earnings results 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 net margin of 38.85% and a return on equity of 41.61%. The company had revenue of $22.19 billion for the quarter, compared to analysts’ expectations of $22.13 billion. During the same period last year, the firm earned $1.58 earnings per share. The business’s revenue for the quarter was up 47.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Broadcom Inc. will post 10.24 earnings per share for the current year.

Broadcom Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 22nd were issued a $0.65 dividend. The ex-dividend date of this dividend was Monday, June 22nd. This represents a $2.60 annualized dividend and a yield of 0.7%. Broadcom’s payout ratio is currently 43.33%.

Key Broadcom News

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom’s expanded Apple agreement, valued at more than $30 billion through 2031, strengthens visibility for revenue and highlights demand beyond AI chips. Why Broadcom Stock Rose Today
• Positive Sentiment: Analysts remain upbeat on Broadcom’s AI business, with Jefferies reiterating a Buy rating and a $550 price target as AI chip momentum improves. Broadcom’s (AVGO) AI Chip Momentum Keeps Wall Street Bullish
• Positive Sentiment: Broadcom is being viewed as a broader AI infrastructure winner because its networking products help connect large-scale AI systems, expanding the investment thesis beyond GPUs and custom chips. Broadcom stock’s latest catalyst targets Nvidia where it looks strongest
• Neutral Sentiment: Some coverage notes Broadcom’s near-$2 trillion market value and strong AI revenue growth, but also suggests much of the good news may already be reflected in the stock. Broadcom Is Less Than 5% From the $2 Trillion Club — and Apple Just Committed $30 Billion for More Chips
• Negative Sentiment: Erste Group downgraded Broadcom to Hold, citing valuation concerns, which may be limiting upside after the recent rally. Erste Group downgrades Broadcom to Hold citing valuation concerns

Insiders Place Their Bets

In other news, Director Justine Page sold 1,602 shares of the business’s stock in a transaction on Monday, June 29th. The stock was sold at an average price of $373.86, for a total transaction of $598,923.72. Following the completion of the transaction, the director owned 17,426 shares of the company’s stock, valued at approximately $6,514,884.36. The trade was a 8.42% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Mark David Brazeal sold 25,000 shares of the business’s stock in a transaction dated Wednesday, July 8th. The stock was sold at an average price of $379.19, for a total value of $9,479,750.00. Following the transaction, the insider directly owned 219,989 shares of the company’s stock, valued at approximately $83,417,628.91. The trade was a 10.20% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 36,644 shares of company stock worth $13,982,964. 1.90% of the stock is owned by company insiders.

About Broadcom

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.