PFA Pension Forsikringsaktieselskab Makes New Investment in Broadcom Inc. $AVGO

PFA Pension Forsikringsaktieselskab purchased a new position in shares of Broadcom Inc. (NASDAQ:AVGO) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 2,643,583 shares of the semiconductor manufacturer’s stock, valued at approximately $924,858,000. Broadcom makes up 2.6% of PFA Pension Forsikringsaktieselskab’s holdings, making the stock its 6th largest holding.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in shares of Broadcom by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 482,707,302 shares of the semiconductor manufacturer’s stock worth $167,064,997,000 after purchasing an additional 3,919,715 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of Broadcom by 1.8% in the 3rd quarter. Invesco Ltd. now owns 39,149,651 shares of the semiconductor manufacturer’s stock worth $12,915,861,000 after purchasing an additional 700,021 shares in the last quarter. Legal & General Group Plc lifted its holdings in shares of Broadcom by 2.3% in the 3rd quarter. Legal & General Group Plc now owns 33,450,786 shares of the semiconductor manufacturer’s stock worth $11,035,749,000 after purchasing an additional 748,709 shares in the last quarter. Franklin Resources Inc. lifted its holdings in shares of Broadcom by 4.0% in the 3rd quarter. Franklin Resources Inc. now owns 29,511,195 shares of the semiconductor manufacturer’s stock worth $9,736,038,000 after purchasing an additional 1,124,590 shares in the last quarter. Finally, Amundi lifted its holdings in shares of Broadcom by 3.3% in the 3rd quarter. Amundi now owns 22,216,816 shares of the semiconductor manufacturer’s stock worth $7,453,320,000 after purchasing an additional 716,523 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CFO Kirsten M. Spears sold 36,292 shares of the firm’s stock in a transaction on Tuesday, March 17th. The stock was 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 of the company’s stock, valued at $105,407,616. This trade represents a 9.97% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Charlie B. Kawwas sold 39,116 shares of the firm’s stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $321.61, for a total value of $12,580,096.76. Following the sale, the insider directly owned 74,626 shares of the company’s stock, valued at approximately $24,000,467.86. This represents a 34.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 324,282 shares of company stock valued at $106,425,249 in the last 90 days. Insiders own 1.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on AVGO shares. Mizuho reiterated an “outperform” rating and issued a $480.00 target price on shares of Broadcom in a report on Thursday, April 16th. Truist Financial increased their target price on Broadcom from $510.00 to $545.00 and gave the stock a “buy” rating in a report on Thursday, March 5th. Wolfe Research upgraded Broadcom from a “peer perform” rating to an “outperform” rating and set a $400.00 target price on the stock in a report on Friday, January 30th. Zacks Research upgraded Broadcom from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 2nd. Finally, DA Davidson upgraded Broadcom to a “hold” rating in a report on Friday, February 13th. Two equities research 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 company presently has an average rating of “Moderate Buy” and an average price target of $435.30.

Key Headlines Impacting Broadcom

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 Price Performance

Shares of NASDAQ:AVGO opened at $430.00 on Friday. 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 stock’s fifty day simple moving average is $352.89 and its two-hundred day simple moving average is $351.28. Broadcom Inc. has a 1-year low of $206.52 and a 1-year high of $437.68. The stock has a market cap of $2.04 trillion, a PE ratio of 83.98, a price-to-earnings-growth ratio of 0.85 and a beta of 1.43.

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, beating 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 business had revenue of $19.31 billion for the quarter, compared to analysts’ expectations of $19.10 billion. During the same period last year, the business earned $1.60 EPS. The business’s revenue was up 29.5% on a year-over-year basis. As a group, analysts forecast that Broadcom Inc. will post 9.95 EPS for the current fiscal year.

Broadcom Dividend Announcement

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

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.