Broadcom Inc. $AVGO Stock Position Lifted by IFM Investors Pty Ltd

IFM Investors Pty Ltd grew its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 4.1% in the 1st quarter, HoldingsChannel reports. The firm owned 928,103 shares of the semiconductor manufacturer’s stock after acquiring an additional 36,920 shares during the quarter. Broadcom accounts for approximately 2.4% of IFM Investors Pty Ltd’s investment portfolio, making the stock its 7th biggest holding. IFM Investors Pty Ltd’s holdings in Broadcom were worth $287,257,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Rexford Capital Inc. raised its stake in shares of Broadcom by 63.1% during the 1st quarter. Rexford Capital Inc. now owns 1,359 shares of the semiconductor manufacturer’s stock worth $421,000 after purchasing an additional 526 shares during the period. Severin Investments LLC grew its position in Broadcom by 24.9% during the first quarter. Severin Investments LLC now owns 6,831 shares of the semiconductor manufacturer’s stock valued at $2,114,000 after buying an additional 1,362 shares during the period. Bayban grew its position in Broadcom by 25.3% during the first quarter. Bayban now owns 565 shares of the semiconductor manufacturer’s stock valued at $175,000 after buying an additional 114 shares during the period. North Point Portfolio Managers Corp OH increased its holdings in Broadcom by 22.2% during the first quarter. North Point Portfolio Managers Corp OH now owns 770 shares of the semiconductor manufacturer’s stock worth $238,000 after buying an additional 140 shares during the last quarter. Finally, Key Financial Inc increased its holdings in Broadcom by 1.2% during the first quarter. Key Financial Inc now owns 20,475 shares of the semiconductor manufacturer’s stock worth $6,337,000 after buying an additional 238 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on AVGO. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $515.00 target price (up from $430.00) on shares of Broadcom in a research note on Thursday, June 4th. Benchmark raised their price target on shares of Broadcom from $485.00 to $545.00 and gave the stock a “buy” rating in a research note on Thursday, June 4th. Weiss Ratings cut shares of Broadcom from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday, June 26th. Rosenblatt Securities reiterated a “buy” rating and issued a $500.00 price objective on shares of Broadcom in a research note on Thursday, June 4th. Finally, Royal Bank Of Canada increased their price objective on Broadcom from $360.00 to $400.00 and gave the company a “sector perform” rating in a report on Thursday, June 4th. One research analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $493.24.

Insider Activity at Broadcom

In related news, insider Mark David Brazeal sold 4,825 shares of the company’s stock in a transaction that occurred on 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 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Justine Page sold 2,018 shares of the stock in a transaction that occurred on Wednesday, April 8th. The stock was sold at an average price of $353.00, for a total transaction of $712,354.00. Following the completion of the sale, the director owned 18,164 shares in the company, valued at $6,411,892. This represents a 10.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 60,987 shares of company stock valued at $21,899,980 in the last quarter. 1.90% of the stock is currently owned by company insiders.

Key Stories Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: JPMorgan, UBS, Jefferies and other analysts remain constructive on Broadcom’s AI-driven growth, with price targets well above current levels and continued optimism around custom AI silicon demand, including exposure to customers such as OpenAI and Anthropic. UBS Reaffirms Buy Rating on Broadcom (AVGO) Amid AI ASIC Demand and OpenAI, Anthropic Growth
• Positive Sentiment: Articles highlighting Broadcom’s partnership with OpenAI on the “Jalapeño” AI accelerator reinforce the market’s bullish view that AI infrastructure can keep driving revenue growth. What Broadcom (AVGO)’s Jalapeño AI Accelerator Partnership With OpenAI Means For Shareholders
• Neutral Sentiment: Several recent write-ups argue Broadcom may be attractive after its pullback, but they mostly restate the same long-term thesis rather than pointing to a new catalyst. Why Broadcom Stock Slumped Today
• Neutral Sentiment: Investors continue to search for clues on whether Broadcom can rebound from its post-earnings decline, with coverage focusing on earnings estimates and fair-value changes. Broadcom (AVGO) Stock Gets Fair Value Boost As Analysts Split On AI Outlook
• Negative Sentiment: Director Justine Page sold 1,602 shares of Broadcom stock, extending insider-selling headlines that can weigh on sentiment even if the sale is relatively small versus the company’s size. SEC Form 4 filing for Justine Page sale
• Negative Sentiment: Broadcom remains about 14% below its last earnings report level, and recent commentary suggests investors are still uneasy about whether the company’s strong results were enough to justify its premium valuation. Broadcom Inc. (AVGO) Down 14% Since Last Earnings Report: Can It Rebound?

Broadcom Stock Performance

Shares of AVGO opened at $360.45 on Friday. Broadcom Inc. has a 52-week low of $269.58 and a 52-week high of $495.00. The stock’s 50-day simple moving average is $407.92 and its 200 day simple moving average is $362.33. 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 stock has a market capitalization of $1.71 trillion, a price-to-earnings ratio of 60.08, a price-to-earnings-growth ratio of 0.63 and a beta of 1.45.

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

Broadcom Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 22nd were paid a dividend of $0.65 per share. 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%.

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.