Hartford Investment Management Co. Has $94.42 Million Position in Broadcom Inc. $AVGO

Hartford Investment Management Co. decreased its holdings in Broadcom Inc. (NASDAQ:AVGO) by 1.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 272,796 shares of the semiconductor manufacturer’s stock after selling 2,785 shares during the period. Broadcom accounts for about 2.8% of Hartford Investment Management Co.’s portfolio, making the stock its 6th biggest holding. Hartford Investment Management Co.’s holdings in Broadcom were worth $94,415,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. JCIC Asset Management Inc. bought a new position in shares of Broadcom in the third quarter worth about $31,000. Miller Global Investments LLC bought a new position in shares of Broadcom in the fourth quarter worth about $31,000. Nvest Wealth Strategies Inc. bought a new position in shares of Broadcom in the fourth quarter worth about $33,000. Manning & Napier Advisors LLC bought a new position in shares of Broadcom in the third quarter worth about $34,000. Finally, Family CFO Inc bought a new position in shares of Broadcom in the fourth quarter worth about $35,000. Institutional investors own 76.43% of the company’s stock.

Broadcom Price Performance

NASDAQ:AVGO opened at $425.19 on Monday. The firm has a market capitalization of $2.01 trillion, a price-to-earnings ratio of 83.05, a PEG ratio of 0.88 and a beta of 1.43. Broadcom Inc. has a 1 year low of $221.60 and a 1 year high of $442.36. The business has a 50 day simple moving average of $365.61 and a 200-day simple moving average of $354.56. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.90 and a quick ratio of 1.73.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.03 by $0.02. The business had revenue of $19.31 billion during the quarter, compared to analyst estimates of $19.10 billion. Broadcom had a return on equity of 38.61% and a net margin of 36.57%.The company’s revenue for the quarter was up 29.5% on a year-over-year basis. During the same period last year, the company earned $1.60 EPS. Equities analysts forecast that Broadcom Inc. will post 9.95 EPS for the current year.

Broadcom Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Monday, March 23rd were paid a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend was Monday, March 23rd. Broadcom’s dividend payout ratio (DPR) is presently 50.78%.

Trending Headlines about Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom remains a favored way to play AI infrastructure, with multiple recent articles highlighting its growing exposure to custom AI silicon, data-center networking, and AI semiconductor revenue. Citi also raised its price target to $500, reinforcing optimism ahead of the next earnings report.
• Positive Sentiment: Wells Fargo lifted its price target to $545 and said AI semiconductor revenue is running 30% to 40% above expectations, suggesting Broadcom may still be benefiting from stronger-than-expected hyperscaler spending.
• Positive Sentiment: Recent investor interest has also been supportive, with hedge fund and prominent manager buying cited in several notes, alongside Broadcom being named among top tech stocks to own as AI optimism continues to drive the market.
• Neutral Sentiment: Broadcom was also mentioned in a broader AI rotation piece that argues the next leg of the rally may be in AI bottlenecks such as optics, networking, and memory rather than only the most obvious chip winners. Broadcom was specifically named as one of the companies positioned to benefit from optical interconnect demand.
• Negative Sentiment: UBS warned that AI stocks, including Broadcom, are increasingly crowded trades, raising the risk of a pullback if enthusiasm cools or if investors rotate out of mega-cap semiconductors.
• Negative Sentiment: Some commentary also suggests the AI chip rally may be masking broader market weakness, which can make even strong names like Broadcom vulnerable to profit-taking after a powerful advance.

Insiders Place Their Bets

In other news, Director Justine Page sold 2,018 shares of the firm’s stock in a transaction that occurred on Wednesday, April 8th. The stock was sold at an average price of $353.00, for a total value of $712,354.00. Following the completion of the sale, the director directly owned 18,164 shares of the company’s stock, valued at $6,411,892. This trade represents a 10.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider S. Ram Velaga sold 8,000 shares of the firm’s stock in a transaction that occurred on Friday, April 10th. The shares were sold at an average price of $370.52, for a total value of $2,964,160.00. Following the completion of the sale, the insider directly owned 57,932 shares of the company’s stock, valued at $21,464,964.64. The trade was a 12.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 324,282 shares of company stock worth $106,425,249. 1.90% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Seaport Research Partners reissued a “neutral” rating on shares of Broadcom in a research note on Wednesday, April 8th. Citigroup reissued a “buy” rating and set a $500.00 price target (up from $475.00) on shares of Broadcom in a research note on Tuesday, May 12th. Wells Fargo & Company reissued an “overweight” rating and set a $545.00 price target (up from $430.00) on shares of Broadcom in a research note on Thursday. Morgan Stanley increased their price target on Broadcom from $462.00 to $470.00 and gave the company an “overweight” rating in a research note on Friday, March 6th. Finally, Zacks Research raised Broadcom from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $441.63.

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.