Garde Capital Inc. Grows Holdings in Broadcom Inc. $AVGO

Garde Capital Inc. raised its position in Broadcom Inc. (NASDAQ:AVGO) by 302.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,772 shares of the semiconductor manufacturer’s stock after buying an additional 5,840 shares during the period. Garde Capital Inc.’s holdings in Broadcom were worth $2,690,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AVGO. Baring Financial LLC grew its position in shares of Broadcom by 2.2% in the fourth quarter. Baring Financial LLC now owns 1,359 shares of the semiconductor manufacturer’s stock valued at $470,000 after purchasing an additional 29 shares during the period. Five Oceans Advisors grew its position in shares of Broadcom by 0.4% in the fourth quarter. Five Oceans Advisors now owns 8,191 shares of the semiconductor manufacturer’s stock valued at $2,835,000 after purchasing an additional 29 shares during the period. Private Wealth Partners LLC grew its position in shares of Broadcom by 0.7% in the third quarter. Private Wealth Partners LLC now owns 4,273 shares of the semiconductor manufacturer’s stock valued at $1,410,000 after purchasing an additional 30 shares during the period. Planning Alternatives Ltd. ADV grew its position in shares of Broadcom by 1.4% in the third quarter. Planning Alternatives Ltd. ADV now owns 2,168 shares of the semiconductor manufacturer’s stock valued at $715,000 after purchasing an additional 30 shares during the period. Finally, Bell Investment Advisors Inc grew its position in shares of Broadcom by 1.9% in the third quarter. Bell Investment Advisors Inc now owns 1,638 shares of the semiconductor manufacturer’s stock valued at $540,000 after purchasing an additional 30 shares during the period. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Analysts Set New Price Targets

AVGO has been the topic of several recent analyst reports. Zacks Research lowered shares of Broadcom from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 21st. Bank of America decreased their price objective on shares of Broadcom from $500.00 to $450.00 and set a “buy” rating on the stock in a report on Thursday, March 5th. Morgan Stanley upped their price objective on shares of Broadcom from $470.00 to $485.00 and gave the stock an “overweight” rating in a report on Monday. TD Cowen restated a “buy” rating and issued a $500.00 price objective (up from $405.00) on shares of Broadcom in a report on Friday, May 15th. Finally, Truist Financial upped their price objective on shares of Broadcom from $510.00 to $545.00 and gave the stock a “buy” rating in a report on Thursday, March 5th. One analyst has rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $455.07.

Broadcom Trading Up 3.0%

NASDAQ AVGO opened at $459.97 on Tuesday. The company has a quick ratio of 1.73, a current ratio of 1.90 and a debt-to-equity ratio of 0.80. Broadcom Inc. has a 52 week low of $241.11 and a 52 week high of $466.05. The stock has a market capitalization of $2.18 trillion, a PE ratio of 89.84, a price-to-earnings-growth ratio of 0.92 and a beta of 1.41. The firm has a 50 day moving average of $386.31 and a two-hundred day moving average of $359.32.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results 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 firm had revenue of $19.31 billion during the quarter, compared to analysts’ expectations of $19.10 billion. Broadcom had a net margin of 36.57% and a return on equity of 38.61%. Broadcom’s quarterly revenue was up 29.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.60 EPS. As a group, research analysts expect that Broadcom Inc. will post 9.91 EPS for the current fiscal year.

Insider Activity

In related news, insider Mark David Brazeal sold 50,488 shares of the stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $321.60, for a total transaction of $16,236,940.80. Following the completion of the sale, the insider owned 278,141 shares in the company, valued at $89,450,145.60. This represents a 15.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Charlie B. Kawwas sold 10,000 shares of the stock in a transaction on Wednesday, April 8th. The stock was sold at an average price of $345.23, for a total transaction of $3,452,300.00. Following the sale, the insider owned 787,184 shares of the company’s stock, valued at approximately $271,759,532.32. This represents a 1.25% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 324,282 shares of company stock worth $106,425,249 over the last 90 days. 1.90% of the stock is owned by corporate insiders.

Trending Headlines about Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom unveiled new broadband and Wi?Fi 8 connectivity innovations with an embedded NPU, reinforcing its AI-at-the-edge growth story and expanding its product pipeline. Article link
• Positive Sentiment: Morgan Stanley raised its price target on Broadcom to $485 and kept an overweight rating, signaling continued analyst confidence ahead of earnings.
• Positive Sentiment: Broadcom is attracting bullish investor attention as traders bet on strong AI-chip demand and a potential breakout after earnings, with several articles calling it a top stock to watch. Article link
• Positive Sentiment: Broadcom is being highlighted by market commentators and bullish research as an AI leader and a long-term growth stock, which is helping sentiment into the earnings print.
• Neutral Sentiment: Some coverage notes that expectations are very high, with the stock trading at a premium valuation, so the upcoming earnings report will need to be strong to justify the move. Article link
• Neutral Sentiment: Traders are expecting a large post-earnings swing, which reflects uncertainty as much as optimism.
• Negative Sentiment: Bearish commentary from one market watcher suggests some investors are hedging ahead of the report, reflecting concern that the stock’s elevated valuation leaves little room for disappointment. Article link

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.