CX Institutional Acquires 1,247 Shares of Broadcom Inc. $AVGO

CX Institutional increased its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 1.7% during the 4th quarter, HoldingsChannel reports. The firm owned 75,050 shares of the semiconductor manufacturer’s stock after purchasing an additional 1,247 shares during the period. CX Institutional’s holdings in Broadcom were worth $25,975,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Baring Financial LLC lifted its stake in Broadcom by 2.2% in the 4th quarter. Baring Financial LLC now owns 1,359 shares of the semiconductor manufacturer’s stock valued at $470,000 after acquiring an additional 29 shares in the last quarter. Five Oceans Advisors lifted its stake in Broadcom by 0.4% in the 4th quarter. Five Oceans Advisors now owns 8,191 shares of the semiconductor manufacturer’s stock valued at $2,835,000 after acquiring an additional 29 shares in the last quarter. Jackson Hole Capital Partners LLC lifted its stake in Broadcom by 1.4% in the 3rd quarter. Jackson Hole Capital Partners LLC now owns 2,170 shares of the semiconductor manufacturer’s stock valued at $716,000 after acquiring an additional 30 shares in the last quarter. Private Wealth Partners LLC lifted its stake in Broadcom by 0.7% in the 3rd quarter. Private Wealth Partners LLC now owns 4,273 shares of the semiconductor manufacturer’s stock valued at $1,410,000 after acquiring an additional 30 shares in the last quarter. Finally, Planning Alternatives Ltd. ADV lifted its stake in Broadcom by 1.4% in the 3rd quarter. Planning Alternatives Ltd. ADV now owns 2,168 shares of the semiconductor manufacturer’s stock valued at $715,000 after acquiring an additional 30 shares in the last quarter. Institutional investors own 76.43% of the company’s stock.

Broadcom Trading Up 4.2%

Shares of Broadcom stock opened at $430.00 on Friday. Broadcom Inc. has a 12-month low of $206.52 and a 12-month high of $437.68. The stock has a market cap of $2.04 trillion, a P/E ratio of 83.98, a P/E/G ratio of 0.89 and a beta of 1.43. The company has a quick ratio of 1.73, a current ratio of 1.90 and a debt-to-equity ratio of 0.80. The business’s 50 day moving average is $352.89 and its 200-day moving average is $351.28.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 earnings per share (EPS) for the quarter, topping 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 company had revenue of $19.31 billion for the quarter, compared to analysts’ expectations of $19.10 billion. During the same quarter in the prior year, the business posted $1.60 EPS. The business’s revenue was up 29.5% compared to the same quarter last year. Equities research analysts predict that Broadcom Inc. will post 9.95 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.6%. Broadcom’s dividend payout ratio is currently 50.78%.

Analysts Set New Price Targets

AVGO has been the topic of several research reports. Bank of America cut their target price on Broadcom from $500.00 to $450.00 and set a “buy” rating on the stock in a research note on Thursday, March 5th. Rosenblatt Securities restated a “buy” rating and issued a $500.00 target price on shares of Broadcom in a research note on Tuesday, April 7th. Zacks Research upgraded Broadcom from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 2nd. DA Davidson upgraded Broadcom to a “hold” rating in a research note on Friday, February 13th. Finally, Truist Financial boosted their target price on Broadcom from $510.00 to $545.00 and gave the company a “buy” rating in a research note on Thursday, March 5th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $435.30.

Insider Activity at Broadcom

In related news, insider Mark David Brazeal sold 50,488 shares of the business’s stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $321.60, for a total transaction of $16,236,940.80. Following the transaction, the insider directly owned 278,141 shares of the company’s stock, valued at approximately $89,450,145.60. The trade was a 15.36% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Justine Page sold 2,018 shares of the business’s stock in a transaction that occurred on Wednesday, April 8th. The stock was sold at an average price of $353.00, for a total value of $712,354.00. Following the transaction, the director directly owned 18,164 shares in the company, valued at $6,411,892. The trade was a 10.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 324,282 shares of company stock worth $106,425,249. Insiders own 1.90% of the company’s stock.

Key Stories 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 Company 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.