Maxi Investments CY Ltd Makes New Investment in Broadcom Inc. $AVGO

Maxi Investments CY Ltd purchased a new position in Broadcom Inc. (NASDAQ:AVGO) in the fourth quarter, HoldingsChannel reports. The firm purchased 4,250 shares of the semiconductor manufacturer’s stock, valued at approximately $1,471,000.

Several other institutional investors and hedge funds have also made changes to their positions in AVGO. International Assets Investment Management LLC increased its stake in shares of Broadcom by 7.7% during the fourth quarter. International Assets Investment Management LLC now owns 62,368 shares of the semiconductor manufacturer’s stock valued at $21,585,000 after acquiring an additional 4,454 shares during the period. Coston McIsaac & Partners raised its holdings in Broadcom by 99.2% during the fourth quarter. Coston McIsaac & Partners now owns 1,235 shares of the semiconductor manufacturer’s stock worth $427,000 after purchasing an additional 615 shares in the last quarter. Winch Advisory Services LLC lifted its position in Broadcom by 6.9% in the fourth quarter. Winch Advisory Services LLC now owns 1,489 shares of the semiconductor manufacturer’s stock worth $515,000 after purchasing an additional 96 shares during the period. MGO One Seven LLC lifted its position in Broadcom by 7.8% in the fourth quarter. MGO One Seven LLC now owns 175,108 shares of the semiconductor manufacturer’s stock worth $60,605,000 after purchasing an additional 12,704 shares during the period. Finally, MPS Loria Financial Planners LLC boosted its stake in Broadcom by 4.0% during the 4th quarter. MPS Loria Financial Planners LLC now owns 1,890 shares of the semiconductor manufacturer’s stock valued at $654,000 after purchasing an additional 72 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors.

Insider Transactions at Broadcom

In other news, insider Mark David Brazeal sold 50,488 shares of the company’s stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $321.60, for a total value of $16,236,940.80. Following the transaction, 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 this link. Also, insider Charlie B. Kawwas sold 10,000 shares of the stock in a transaction that occurred 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 completion of the sale, the insider directly owned 787,184 shares of the company’s stock, valued at $271,759,532.32. This trade represents a 1.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 324,282 shares of company stock worth $106,425,249. 1.90% of the stock is currently owned by company insiders.

Broadcom Trading Up 5.5%

Broadcom stock opened at $439.79 on Friday. Broadcom Inc. has a 52 week low of $221.60 and a 52 week high of $442.36. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.73 and a current ratio of 1.90. The firm has a market capitalization of $2.08 trillion, a price-to-earnings ratio of 85.90, a P/E/G ratio of 0.86 and a beta of 1.43. The company has a 50 day moving average price of $363.46 and a 200 day moving average price of $354.12.

Broadcom (NASDAQ:AVGO) last released its earnings results on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.03 by $0.02. The company 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 quarter in the prior year, the company earned $1.60 earnings per share. Research analysts forecast that Broadcom Inc. will post 9.95 EPS for the current year.

Broadcom Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on AVGO shares. Weiss Ratings downgraded Broadcom from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, April 24th. Mizuho reaffirmed an “outperform” rating and set a $480.00 target price on shares of Broadcom in a research note on Thursday, April 16th. Morgan Stanley lifted their target price on Broadcom from $462.00 to $470.00 and gave the stock an “overweight” rating in a report on Friday, March 6th. Benchmark reiterated a “buy” rating and issued a $485.00 price target on shares of Broadcom in a research report on Thursday, March 5th. Finally, Wolfe Research raised shares of Broadcom from a “peer perform” rating to an “outperform” rating and set a $400.00 price target for the company in a report on Friday, January 30th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $439.97.

More Broadcom News

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Wells Fargo and other analysts turned more bullish on Broadcom’s AI chip and data-center networking business, saying Wall Street may be underestimating demand from hyperscaler buildouts. Article Title
• Positive Sentiment: Broadcom is being framed as one of the main winners of the AI capital-spending cycle, with multiple articles highlighting accelerating custom AI silicon revenue and expectations for continued earnings growth into the next report. Article Title
• Positive Sentiment: Investor sentiment was also helped by major institutions and high-profile investors continuing to add to Broadcom positions, reinforcing the view that the AI thesis remains intact. Article Title
• Neutral Sentiment: Broadcom’s valuation remains elevated after its sharp run, so the stock may be sensitive to any sign that AI growth slows or expectations become too optimistic.
• Negative Sentiment: The company is also facing an EU antitrust lawsuit over VMware-related document requests, which adds a legal overhang even though it is not the main driver of today’s move. Article Title

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.