RWQ Financial Management Services Inc. Has $15.63 Million Position in Broadcom Inc. $AVGO

RWQ Financial Management Services Inc. lifted its holdings in Broadcom Inc. (NASDAQ:AVGO) by 15.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 45,170 shares of the semiconductor manufacturer’s stock after acquiring an additional 5,997 shares during the period. Broadcom accounts for about 7.2% of RWQ Financial Management Services Inc.’s portfolio, making the stock its 5th biggest holding. RWQ Financial Management Services Inc.’s holdings in Broadcom were worth $15,633,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in AVGO. JCIC Asset Management Inc. bought a new position in shares of Broadcom in the third quarter worth about $31,000. Miller Global Investments LLC bought a new position in shares of Broadcom in the fourth quarter worth about $31,000. Nvest Wealth Strategies Inc. bought a new position in shares of Broadcom in the fourth quarter worth about $33,000. Manning & Napier Advisors LLC bought a new position in shares of Broadcom in the third quarter worth about $34,000. Finally, Family CFO Inc bought a new position in Broadcom during the fourth quarter valued at approximately $35,000. Institutional investors own 76.43% of the company’s stock.

Insider Activity

In other news, insider Charlie B. Kawwas sold 39,116 shares of the 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 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. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 directly owned 278,141 shares in the company, valued at approximately $89,450,145.60. This represents a 15.36% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 324,282 shares of company stock worth $106,425,249. 1.90% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages recently commented on AVGO. Benchmark reissued a “buy” rating and set a $485.00 price target on shares of Broadcom in a research note on Thursday, March 5th. Morgan Stanley increased their price target on Broadcom from $462.00 to $470.00 and gave the company an “overweight” rating in a research note on Friday, March 6th. JPMorgan Chase & Co. increased their price target on Broadcom from $475.00 to $500.00 and gave the company an “overweight” rating in a research note on Thursday, March 5th. Seaport Research Partners reissued a “neutral” rating on shares of Broadcom in a research note on Wednesday, April 8th. Finally, Royal Bank Of Canada dropped their price target on Broadcom from $370.00 to $340.00 and set a “sector perform” rating for the company in a research note on Monday, March 2nd. 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. According to data from MarketBeat, Broadcom has a consensus rating of “Moderate Buy” and a consensus target price of $435.30.

Broadcom Trading Up 4.2%

Shares of AVGO stock opened at $430.00 on Friday. Broadcom Inc. has a 1 year low of $206.52 and a 1 year high of $437.68. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.90 and a quick ratio of 1.73. The stock’s 50 day simple moving average is $352.89 and its two-hundred day simple moving average is $351.28. The company has a market cap of $2.04 trillion, a PE ratio of 83.98, a price-to-earnings-growth ratio of 0.89 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 (EPS) for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $19.10 billion. During the same period in the prior year, the business posted $1.60 earnings per share. The company’s quarterly revenue was up 29.5% compared to the same quarter last year. Research analysts predict that Broadcom Inc. will post 9.95 earnings per share for the current year.

Broadcom Announces Dividend

The company 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. 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 payout ratio is presently 50.78%.

Broadcom News Roundup

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

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.