Healthcare of Ontario Pension Plan Trust Fund Sells 542,953 Shares of Broadcom Inc. $AVGO

Healthcare of Ontario Pension Plan Trust Fund cut its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 11.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,118,675 shares of the semiconductor manufacturer’s stock after selling 542,953 shares during the quarter. Broadcom accounts for 2.4% of Healthcare of Ontario Pension Plan Trust Fund’s investment portfolio, making the stock its 8th largest position. Healthcare of Ontario Pension Plan Trust Fund owned approximately 0.09% of Broadcom worth $1,425,473,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. ROSS JOHNSON & Associates LLC lifted its holdings 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. SWAN Capital LLC lifted its holdings in 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 buying an additional 55 shares in the last quarter. Miller Global Investments LLC acquired a new stake in shares of Broadcom in the 4th quarter valued at $31,000. Nvest Wealth Strategies Inc. acquired a new stake in shares of Broadcom in the 4th quarter valued at $33,000. Finally, Family CFO Inc acquired a new stake in shares of Broadcom in the 4th quarter valued at $35,000. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Broadcom Stock Performance

NASDAQ AVGO opened at $382.07 on Monday. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.24 and a quick ratio of 2.01. The firm’s fifty day moving average price is $404.26 and its 200 day moving average price is $363.22. The company has a market capitalization of $1.82 trillion, a price-to-earnings ratio of 63.68, a price-to-earnings-growth ratio of 0.67 and a beta of 1.41. Broadcom Inc. has a 12 month low of $244.17 and a 12 month high of $495.00.

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

Broadcom Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 22nd will be given a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Monday, June 22nd. Broadcom’s dividend payout ratio (DPR) is 43.33%.

Broadcom News Summary

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom’s quarterly results were very strong, with revenue up 48% to a record $22.2 billion, semiconductor revenue up 79%, AI semiconductor revenue up 143% to $10.8 billion, and more than $30 billion in AI bookings, suggesting demand remains robust. Article Title
• Positive Sentiment: Several analysts and commentators argue the recent drop could be a buying opportunity, saying Broadcom remains a core infrastructure winner in AI and that Wall Street’s long-term outlook is still constructive. Article Title
• Positive Sentiment: Fresh coverage highlighted Broadcom as one of the stocks with catalysts heading into the second half of the year, and some analysts have raised earnings forecasts and price targets despite the selloff. Article Title
• Neutral Sentiment: Jim Cramer said Broadcom’s earnings were “not good” and suggested tech stocks are harder to trust as leadership names, reflecting a more cautious market mood around the stock. Article Title
• Neutral Sentiment: Broadcom also announced cash tender offers for certain outstanding debt securities, a routine balance-sheet move that is unlikely to move the stock by itself. Article Title
• Negative Sentiment: Market commentary says the stock is being punished because investors are nitpicking Broadcom’s AI outlook and pricing the shares as if growth must keep accelerating without any hiccups. Article Title
• Negative Sentiment: One note warned that Broadcom told investors to expect gross profit margins to continue falling, reinforcing concerns that profitability may soften even as revenue grows. Article Title

Insider Transactions at Broadcom

In other news, insider Charlie B. Kawwas sold 39,116 shares of the stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $321.61, for a total transaction of $12,580,096.76. Following the completion of the sale, the insider owned 74,626 shares in the company, valued at approximately $24,000,467.86. This represents a 34.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Kirsten M. Spears sold 36,292 shares of the business’s stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $321.60, for a total value of $11,671,507.20. Following the completion of the transaction, the chief financial officer owned 327,760 shares in the company, valued at $105,407,616. This trade represents a 9.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 215,970 shares of company stock worth $71,104,945. Insiders own 1.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on AVGO. Wall Street Zen upgraded shares of Broadcom from a “buy” rating to a “strong-buy” rating in a report on Monday. UBS Group set a $485.00 price objective on shares of Broadcom and gave the company a “buy” rating in a report on Thursday, June 4th. The Goldman Sachs Group restated a “buy” rating and issued a $525.00 price objective on shares of Broadcom in a report on Thursday, June 4th. Mizuho raised their price objective on shares of Broadcom from $480.00 to $530.00 and gave the company an “outperform” rating in a report on Thursday, June 4th. Finally, Oppenheimer restated an “outperform” rating and issued a $535.00 price objective (up from $450.00) on shares of Broadcom 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 given a Hold rating to the company. Based on data from MarketBeat, Broadcom currently has a consensus rating of “Moderate Buy” and a consensus target price of $490.13.

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.