Drive Wealth Management LLC Has $5.88 Million Stock Position in Broadcom Inc. $AVGO

Drive Wealth Management LLC grew its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 16.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 17,000 shares of the semiconductor manufacturer’s stock after purchasing an additional 2,397 shares during the period. Broadcom makes up 1.1% of Drive Wealth Management LLC’s investment portfolio, making the stock its 20th biggest holding. Drive Wealth Management LLC’s holdings in Broadcom were worth $5,884,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in shares of Broadcom by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 482,707,302 shares of the semiconductor manufacturer’s stock valued at $167,064,997,000 after purchasing an additional 3,919,715 shares during the period. Invesco Ltd. raised its holdings in shares of Broadcom by 1.8% during the third quarter. Invesco Ltd. now owns 39,149,651 shares of the semiconductor manufacturer’s stock valued at $12,915,861,000 after purchasing an additional 700,021 shares during the period. Legal & General Group Plc raised its holdings in shares of Broadcom by 2.3% during the third quarter. Legal & General Group Plc now owns 33,450,786 shares of the semiconductor manufacturer’s stock valued at $11,035,749,000 after purchasing an additional 748,709 shares during the period. Franklin Resources Inc. raised 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 acquiring an additional 1,124,590 shares during the last quarter. Finally, Amundi raised 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 acquiring an additional 716,523 shares during the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insider Activity at Broadcom

In other news, insider Mark David Brazeal sold 50,488 shares of the stock in a transaction that occurred 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 transaction, the insider directly owned 278,141 shares of the company’s stock, valued at $89,450,145.60. This represents a 15.36% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider S. Ram Velaga sold 38,841 shares of the stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $321.60, for a total transaction of $12,491,265.60. Following the transaction, the insider directly owned 96,147 shares of the company’s stock, valued at $30,920,875.20. This represents a 28.77% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 324,282 shares of company stock valued at $106,425,249 over the last quarter. 1.90% of the stock is currently owned by insiders.

Key Broadcom News

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom remains a favored way to play AI infrastructure, with multiple recent articles highlighting its growing exposure to custom AI silicon, data-center networking, and AI semiconductor revenue. Citi also raised its price target to $500, reinforcing optimism ahead of the next earnings report.
• Positive Sentiment: Wells Fargo lifted its price target to $545 and said AI semiconductor revenue is running 30% to 40% above expectations, suggesting Broadcom may still be benefiting from stronger-than-expected hyperscaler spending.
• Positive Sentiment: Recent investor interest has also been supportive, with hedge fund and prominent manager buying cited in several notes, alongside Broadcom being named among top tech stocks to own as AI optimism continues to drive the market.
• Neutral Sentiment: Broadcom was also mentioned in a broader AI rotation piece that argues the next leg of the rally may be in AI bottlenecks such as optics, networking, and memory rather than only the most obvious chip winners. Broadcom was specifically named as one of the companies positioned to benefit from optical interconnect demand.
• Negative Sentiment: UBS warned that AI stocks, including Broadcom, are increasingly crowded trades, raising the risk of a pullback if enthusiasm cools or if investors rotate out of mega-cap semiconductors.
• Negative Sentiment: Some commentary also suggests the AI chip rally may be masking broader market weakness, which can make even strong names like Broadcom vulnerable to profit-taking after a powerful advance.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on AVGO. Benchmark restated a “buy” rating and issued a $485.00 target price on shares of Broadcom in a report on Thursday, March 5th. JPMorgan Chase & Co. upped their target price on shares of Broadcom from $475.00 to $500.00 and gave the stock an “overweight” rating in a report on Thursday, March 5th. Mizuho restated an “outperform” rating and issued a $480.00 target price on shares of Broadcom in a report on Thursday, April 16th. Wells Fargo & Company restated an “overweight” rating and issued a $545.00 target price (up from $430.00) on shares of Broadcom in a report on Thursday. Finally, Truist Financial upped their target price on shares of Broadcom from $510.00 to $545.00 and gave the stock a “buy” rating in a report 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 given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $441.63.

Broadcom Trading Down 3.3%

NASDAQ:AVGO opened at $425.19 on Friday. 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 cap of $2.01 trillion, a price-to-earnings ratio of 83.05, a price-to-earnings-growth ratio of 0.88 and a beta of 1.43. Broadcom Inc. has a 52 week low of $221.60 and a 52 week high of $442.36. The firm has a 50-day moving average price of $365.61 and a two-hundred day moving average price of $354.62.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 EPS for the quarter, beating the consensus estimate of $2.03 by $0.02. The firm had revenue of $19.31 billion during the quarter, compared to analyst estimates of $19.10 billion. Broadcom had a net margin of 36.57% and a return on equity of 38.61%. The company’s revenue for the quarter was up 29.5% on a year-over-year basis. During the same quarter last year, the business posted $1.60 EPS. On average, equities analysts expect that Broadcom Inc. will post 9.95 earnings per share for the current fiscal 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 $0.65 dividend. 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%.

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.