Broadcom Inc. $AVGO Shares Acquired by Composition Wealth LLC

Composition Wealth LLC lifted its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 2.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 94,903 shares of the semiconductor manufacturer’s stock after buying an additional 2,593 shares during the period. Composition Wealth LLC’s holdings in Broadcom were worth $32,846,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. JCIC Asset Management Inc. acquired a new stake in shares of Broadcom during the third quarter worth $31,000. Miller Global Investments LLC acquired a new stake in shares of Broadcom during the fourth quarter worth $31,000. Nvest Wealth Strategies Inc. acquired a new position in Broadcom during the fourth quarter valued at $33,000. Manning & Napier Advisors LLC acquired a new position in Broadcom during the third quarter valued at $34,000. Finally, Family CFO Inc acquired a new position in Broadcom during the fourth quarter valued at $35,000. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on AVGO shares. DA Davidson upgraded shares of Broadcom to a “hold” rating in a research report on Friday, February 13th. Benchmark restated a “buy” rating and set a $485.00 target price on shares of Broadcom in a research report on Thursday, March 5th. Rosenblatt Securities restated a “buy” rating and set a $500.00 target price on shares of Broadcom in a research report on Tuesday, April 7th. Truist Financial boosted their target price on shares of Broadcom from $510.00 to $545.00 and gave the company a “buy” rating in a research report on Thursday, March 5th. Finally, Wells Fargo & Company upgraded shares of Broadcom from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $410.00 to $430.00 in a research report on Thursday, January 15th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Broadcom presently has an average rating of “Moderate Buy” and an average target price of $435.30.

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

Broadcom Trading Up 4.2%

Shares of Broadcom stock opened at $430.00 on Friday. The firm has a 50-day simple moving average of $352.89 and a two-hundred day simple moving average of $351.28. The company has a market cap of $2.04 trillion, a P/E ratio of 83.98, a price-to-earnings-growth ratio of 0.89 and a beta of 1.43. Broadcom Inc. has a fifty-two week low of $206.52 and a fifty-two week high of $437.68. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.73 and a current ratio of 1.90.

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

Broadcom Dividend Announcement

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

Insider Activity

In other Broadcom news, insider Mark David Brazeal sold 50,488 shares of the company’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 completion of the transaction, the insider owned 278,141 shares in the company, valued at approximately $89,450,145.60. This represents a 15.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider S. Ram Velaga sold 38,841 shares of the company’s stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $321.60, for a total transaction of $12,491,265.60. Following the completion of the transaction, the insider owned 96,147 shares of the company’s stock, valued at approximately $30,920,875.20. This trade represents a 28.77% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 324,282 shares of company stock worth $106,425,249. 1.90% of the stock is currently owned by insiders.

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.