Broadcom Inc. $AVGO Shares Bought by Procyon Advisors LLC

Procyon Advisors LLC raised its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 36.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 40,728 shares of the semiconductor manufacturer’s stock after purchasing an additional 10,849 shares during the period. Procyon Advisors LLC’s holdings in Broadcom were worth $14,096,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. State Street Corp lifted its position in shares of Broadcom by 0.5% in the second quarter. State Street Corp now owns 185,276,987 shares of the semiconductor manufacturer’s stock valued at $51,071,601,000 after acquiring an additional 873,963 shares in the last quarter. Norges Bank purchased a new stake in shares of Broadcom during the second quarter worth approximately $18,579,549,000. Invesco Ltd. raised its stake in Broadcom by 1.8% in the 3rd quarter. Invesco Ltd. now owns 39,149,651 shares of the semiconductor manufacturer’s stock valued at $12,915,861,000 after purchasing an additional 700,021 shares during the last quarter. Legal & General Group Plc raised its stake in Broadcom by 2.3% in the 3rd quarter. Legal & General Group Plc now owns 33,450,786 shares of the semiconductor manufacturer’s stock valued at $11,035,749,000 after purchasing an additional 748,709 shares during the last quarter. Finally, Alliancebernstein L.P. lifted its holdings in Broadcom by 3.7% in the 2nd quarter. Alliancebernstein L.P. now owns 30,598,590 shares of the semiconductor manufacturer’s stock valued at $8,434,501,000 after purchasing an additional 1,084,776 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on AVGO. Bank of America decreased their price target on shares of Broadcom from $500.00 to $450.00 and set a “buy” rating on the stock in a research note on Thursday, March 5th. Piper Sandler reaffirmed an “overweight” rating and set a $430.00 price objective (up from $375.00) on shares of Broadcom in a research note on Friday, December 12th. Morgan Stanley increased their price objective on shares of Broadcom from $462.00 to $470.00 and gave the company an “overweight” rating in a report on Friday, March 6th. Truist Financial raised their target price on shares of Broadcom from $510.00 to $545.00 and gave the stock a “buy” rating in a research note on Thursday, March 5th. Finally, Zacks Research cut Broadcom from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 4th. One research analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $435.30.

Key Headlines Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Bernstein upgraded Broadcom on AI opportunity, triggering fresh buying interest and price momentum as investors price in larger AI content per data?center GW. Broadcom (AVGO) Stock Surges Nearly 5% on Bernstein’s Bullish AI Upgrade
• Positive Sentiment: Analysts have been reiterating bullish views and high price targets (e.g., Cantor Fitzgerald’s Overweight/$525 PT) after Broadcom’s strong quarter and upbeat guidance, reinforcing investor conviction on AI and networking growth. What Street Thinks About Broadcom Inc. (AVGO)
• Positive Sentiment: Operational execution: Broadcom has begun volume shipments of its Tomahawk 6 switch chip and expanded its AI infrastructure roadmap (3.5D XPU, 102.4T switch), supporting the company’s large AI revenue thesis and capacity wins with major cloud/LLM customers. Broadcom Inc. (AVGO) Commences Volume Shipping of Tomahawk 6 Chip to Scale AI Networks
• Neutral Sentiment: Broadcom launched Symantec CBX (Carbon Black XDR) to combine Symantec and Carbon Black capabilities — a strategic move in security software that broadens recurring?revenue exposure but is less material to near?term AI chip revenue. Broadcom Introduces Symantec CBX
• Negative Sentiment: Regulatory risk: European cloud providers filed an antitrust complaint over Broadcom’s VMware licensing changes, which could lead to inquiries, fines, or commercial constraints in EU cloud markets and add execution uncertainty. EU Antitrust Complaint Puts Broadcom VMware Licensing Strategy Under Spotlight

Insider Transactions at Broadcom

In related news, insider S. Ram Velaga sold 38,841 shares of the company’s stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $321.60, for a total transaction of $12,491,265.60. Following the sale, the insider directly owned 96,147 shares in the company, valued at approximately $30,920,875.20. This represents a 28.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kirsten M. Spears sold 36,292 shares of the firm’s stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $321.60, for a total transaction of $11,671,507.20. Following the completion of the sale, the chief financial officer directly owned 327,760 shares in the company, valued at approximately $105,407,616. This trade represents a 9.97% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 428,970 shares of company stock valued at $142,585,321 in the last 90 days. Insiders own 1.90% of the company’s stock.

Broadcom Stock Up 3.9%

Shares of AVGO opened at $322.51 on Tuesday. The company’s 50-day moving average price is $329.84 and its 200 day moving average price is $345.72. Broadcom Inc. has a 12-month low of $138.10 and a 12-month high of $414.61. The company has a current ratio of 1.90, a quick ratio of 1.73 and a debt-to-equity ratio of 0.80. The firm has a market cap of $1.53 trillion, a P/E ratio of 62.99, a price-to-earnings-growth ratio of 0.67 and a beta of 1.22.

Broadcom (NASDAQ:AVGO) last announced its earnings results on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 earnings per share for the quarter, topping the consensus estimate of $2.03 by $0.02. Broadcom had a net margin of 36.57% and a return on equity of 38.61%. The company had revenue of $19.31 billion during the quarter, compared to analyst estimates of $19.10 billion. During the same quarter last year, the firm posted $1.60 earnings per share. Broadcom’s revenue was up 29.5% compared to the same quarter last year. On average, sell-side analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Monday, March 23rd will be paid a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Monday, March 23rd. Broadcom’s dividend payout ratio (DPR) is presently 50.78%.

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.