Principal Financial Group Inc. Has $2.70 Billion Position in Broadcom Inc. $AVGO

Principal Financial Group Inc. increased its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 3.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,720,488 shares of the semiconductor manufacturer’s stock after buying an additional 298,662 shares during the period. Broadcom accounts for approximately 1.4% of Principal Financial Group Inc.’s holdings, making the stock its 6th biggest holding. Principal Financial Group Inc. owned about 0.18% of Broadcom worth $2,699,084,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. ROSS JOHNSON & Associates LLC lifted its position in shares of Broadcom by 1,320.0% during the fourth quarter. ROSS JOHNSON & Associates LLC now owns 71 shares of the semiconductor manufacturer’s stock worth $25,000 after purchasing an additional 66 shares in the last quarter. Networth Advisors LLC increased its holdings in shares of Broadcom by 546.2% in the first quarter. Networth Advisors LLC now owns 84 shares of the semiconductor manufacturer’s stock valued at $26,000 after purchasing an additional 71 shares in the last quarter. SWAN Capital LLC raised its position in Broadcom by 261.9% in the 4th quarter. SWAN Capital LLC now owns 76 shares of the semiconductor manufacturer’s stock worth $26,000 after purchasing an additional 55 shares during the last quarter. Miller Global Investments LLC bought a new position in Broadcom in the 4th quarter worth approximately $31,000. Finally, Nvest Wealth Strategies Inc. acquired a new position in Broadcom during the 4th quarter worth $33,000. Institutional investors own 76.43% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on AVGO shares. Rosenblatt Securities reiterated a “buy” rating and issued a $500.00 price objective on shares of Broadcom in a research report on Thursday, June 4th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $515.00 target price (up from $430.00) on shares of Broadcom in a research report on Thursday, June 4th. Seaport Research Partners reiterated a “neutral” rating on shares of Broadcom in a report on Wednesday, April 8th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $525.00 target price on shares of Broadcom in a research note on Thursday, June 4th. Finally, Morgan Stanley set a $502.00 price objective on shares of Broadcom and gave the company an “overweight” rating in a report on Thursday, June 4th. One analyst has rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, Broadcom presently has an average rating of “Moderate Buy” and an average price target of $493.24.

Insider Activity

In other Broadcom news, Director Gayla J. Delly sold 1,890 shares of the stock in a transaction on Wednesday, July 8th. The shares were sold at an average price of $385.38, for a total value of $728,368.20. Following the sale, the director directly owned 31,326 shares in the company, valued at approximately $12,072,413.88. This trade represents a 5.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Justine Page sold 1,602 shares of Broadcom stock in a transaction on Monday, June 29th. The stock was sold at an average price of $373.86, for a total transaction of $598,923.72. Following the transaction, the director directly owned 17,426 shares in the company, valued at approximately $6,514,884.36. This represents a 8.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 61,644 shares of company stock worth $24,016,214 in the last ninety days. Company insiders own 1.90% of the company’s stock.

Broadcom Trading Down 5.0%

NASDAQ:AVGO opened at $374.45 on Friday. Broadcom Inc. has a 1-year low of $273.00 and a 1-year high of $495.00. The business’s 50-day moving average price is $402.47 and its two-hundred day moving average price is $365.27. The company has a current ratio of 2.24, a quick ratio of 2.01 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $1.78 trillion, a price-to-earnings ratio of 62.41, a PEG ratio of 0.69 and a beta of 1.45.

Broadcom (NASDAQ:AVGO) last issued its earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.40 by $0.04. The firm had revenue of $22.19 billion for the quarter, compared to analysts’ expectations of $22.13 billion. Broadcom had a return on equity of 41.61% and a net margin of 38.85%.The company’s revenue was up 47.9% compared to the same quarter last year. During the same quarter last year, the business earned $1.58 earnings per share. On average, equities analysts expect that Broadcom Inc. will post 10.24 earnings per share for the current year.

Broadcom Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 22nd were paid a dividend of $0.65 per share. The ex-dividend date of this dividend was Monday, June 22nd. This represents a $2.60 annualized dividend and a yield of 0.7%. Broadcom’s dividend payout ratio (DPR) is presently 43.33%.

Key Headlines Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom announced a long-term strategic commitment with Standard Chartered to modernize global banking infrastructure using a secure private cloud foundation, highlighting another enterprise customer win and supporting the company’s recurring infrastructure-software and semiconductor growth story. Standard Chartered Selects Broadcom to Deliver Secure, Always-On Banking Services at Global Scale
• Positive Sentiment: Multiple commentaries framed Broadcom as a core AI beneficiary, with articles saying its AI moat is expanding and that it remains one of the biggest winners from AI infrastructure spending. Broadcom’s AI Moat Keeps Expanding
• Positive Sentiment: Analysts have been boosting price targets despite recent weakness, suggesting Wall Street still expects meaningful upside if Broadcom’s AI and custom-chip momentum continues. As Shares Fall, Analyst Are Boosting Their Broadcom Price Targets
• Neutral Sentiment: Broadcom remains a frequent topic in bullish valuation pieces and long-term price-prediction articles, but these are mainly sentiment drivers rather than immediate catalysts. Price Prediction: Nvidia, AMD & Broadcom-Our Bold Price Predictions for 2029
• Negative Sentiment: Semiconductor shares sold off broadly on worries that AI capex growth may be slowing, and Broadcom was caught up in the sector-wide decline. Marvell Drops 8% as AI Capex Slowdown Fears Weigh on Chips; Broadcom, AMD, and Intel Slide
• Negative Sentiment: An insider sale by Broadcom executive Mark David Brazeal also weighed on sentiment, as investors often view large insider selling as a caution sign even when fundamentals remain strong. Broadcom Inc. (NASDAQ:AVGO) Insider Mark David Brazeal Sells 25,000 Shares

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.