Horizon Investments LLC Sells 4,058 Shares of Broadcom Inc. $AVGO

Horizon Investments LLC decreased its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 1.1% in the fourth quarter, HoldingsChannel reports. The firm owned 366,916 shares of the semiconductor manufacturer’s stock after selling 4,058 shares during the quarter. Broadcom makes up 1.6% of Horizon Investments LLC’s investment portfolio, making the stock its 13th biggest position. Horizon Investments LLC’s holdings in Broadcom were worth $126,990,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in AVGO. Brighton Jones LLC raised its position in shares of Broadcom by 21.8% in the 4th quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer’s stock worth $6,882,000 after acquiring an additional 5,322 shares in the last quarter. Revolve Wealth Partners LLC boosted its stake in Broadcom by 10.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 7,997 shares of the semiconductor manufacturer’s stock valued at $1,854,000 after purchasing an additional 756 shares during the last quarter. United Bank boosted its stake in Broadcom by 76.5% during the 1st quarter. United Bank now owns 2,339 shares of the semiconductor manufacturer’s stock valued at $392,000 after purchasing an additional 1,014 shares during the last quarter. Sivia Capital Partners LLC boosted its stake in Broadcom by 10.1% during the 2nd quarter. Sivia Capital Partners LLC now owns 12,693 shares of the semiconductor manufacturer’s stock valued at $3,499,000 after purchasing an additional 1,160 shares during the last quarter. Finally, Capital & Planning LLC boosted its stake in Broadcom by 10.5% during the 2nd quarter. Capital & Planning LLC now owns 3,983 shares of the semiconductor manufacturer’s stock valued at $1,098,000 after purchasing an additional 378 shares during the last quarter. Institutional investors own 76.43% of the company’s stock.

Analysts Set New Price Targets

AVGO has been the topic of several research analyst reports. Erste Group Bank cut Broadcom from a “buy” rating to a “hold” rating in a report on Thursday, April 2nd. DA Davidson upgraded Broadcom to a “hold” rating in a research report on Friday, February 13th. Bank of America decreased their price target on Broadcom from $500.00 to $450.00 and set a “buy” rating on the stock in a report on Thursday, March 5th. Morgan Stanley lifted their target price on Broadcom from $462.00 to $470.00 and gave the stock an “overweight” rating in a report on Friday, March 6th. Finally, Weiss Ratings lowered Broadcom from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, April 24th. Two analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $435.30.

Broadcom Stock Up 4.2%

Shares of AVGO opened at $430.00 on Friday. Broadcom Inc. has a 12-month low of $206.52 and a 12-month high of $437.68. The firm has a market capitalization of $2.04 trillion, a P/E ratio of 83.98, a P/E/G ratio of 0.85 and a beta of 1.43. The firm has a fifty day moving average price of $352.89 and a 200-day moving average price of $351.28. The company has a current ratio of 1.90, a quick ratio of 1.73 and a debt-to-equity ratio of 0.80.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.03 by $0.02. Broadcom had a return on equity of 38.61% and a net margin of 36.57%.The company had revenue of $19.31 billion for the quarter, compared to analysts’ expectations of $19.10 billion. During the same quarter in the prior year, the firm earned $1.60 earnings per share. Broadcom’s revenue was up 29.5% compared to the same quarter last year. Equities research analysts expect that Broadcom Inc. will post 9.95 earnings per share for the current year.

Broadcom Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Monday, March 23rd were issued a dividend of $0.65 per share. The ex-dividend date was Monday, March 23rd. This represents a $2.60 dividend on an annualized basis and a yield of 0.6%. Broadcom’s dividend payout ratio is currently 50.78%.

Key Broadcom News

Here are the key news stories impacting Broadcom this week:

• Negative Sentiment: Broadcom shares are under pressure after reports said OpenAI’s planned $18 billion custom chip deal with the company hit a financing roadblock, creating uncertainty around a key AI revenue driver. Broadcom shares slump as OpenAI’s $18B custom chip deal hits financing snag
• Negative Sentiment: Another report framed the OpenAI issue as a major setback for Broadcom’s custom AI chip ambitions, adding concern that one of its flagship customer relationships may not be as immediately monetizable as investors hoped. Broadcom’s OpenAI mega AI deal hits $18 billion wall
• Neutral Sentiment: Broadcom also announced VMware by Broadcom VCF 9.1, a product update aimed at accelerating production AI workloads in private clouds, which supports the company’s long-term enterprise AI strategy. Broadcom (AVGO) Launches VCF 9.1 to Accelerate Production AI in Private Clouds
• Neutral Sentiment: Several commentary pieces remained constructive on Broadcom’s position in the AI infrastructure stack, noting that recent hyperscaler results still support demand for chips and networking tied to AI buildouts. Big Tech earnings support Broadcom’s outlook
• Neutral Sentiment: Broadcom was also mentioned in a public-sector VMware partnership update, which could help broaden enterprise distribution but is not likely the main driver of the stock today. evoila U.S. and Carahsoft Partner to Deliver VMware by Broadcom Services to the Public Sector

Insider Buying and Selling

In other news, insider Mark David Brazeal sold 50,488 shares of the firm’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 $16,236,940.80. Following the sale, the insider directly owned 278,141 shares in the company, valued at approximately $89,450,145.60. This trade represents a 15.36% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Charlie B. Kawwas sold 39,116 shares of the business’s stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $321.61, for a total value of $12,580,096.76. Following the transaction, the insider owned 74,626 shares in the company, valued at approximately $24,000,467.86. This trade represents a 34.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 324,282 shares of company stock valued at $106,425,249. 1.90% of the stock is currently owned by 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.