Smith Chas P & Associates PA Cpas Has $1.23 Million Stock Position in Broadcom Inc. $AVGO

Smith Chas P & Associates PA Cpas increased its stake in Broadcom Inc. (NASDAQ:AVGO) by 62.2% during the fourth quarter, Holdings Channel.com reports. The fund owned 3,546 shares of the semiconductor manufacturer’s stock after buying an additional 1,360 shares during the period. Smith Chas P & Associates PA Cpas’ holdings in Broadcom were worth $1,227,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AVGO. Arrowstreet Capital Limited Partnership lifted its stake in Broadcom by 499.4% in the third quarter. Arrowstreet Capital Limited Partnership now owns 5,634,232 shares of the semiconductor manufacturer’s stock valued at $1,858,789,000 after buying an additional 4,694,313 shares during the period. Vanguard Group Inc. lifted its stake in Broadcom by 0.8% in 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 buying an additional 3,919,715 shares during the period. Nordea Investment Management AB grew its stake in shares of Broadcom by 47.5% in the 4th quarter. Nordea Investment Management AB now owns 9,814,757 shares of the semiconductor manufacturer’s stock valued at $3,406,211,000 after buying an additional 3,160,586 shares during the period. Danske Bank A S bought a new position in Broadcom in the third quarter worth approximately $987,488,000. Finally, PFA Pension Forsikringsaktieselskab bought a new position in Broadcom in the fourth quarter worth approximately $924,858,000. 76.43% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Charlie B. Kawwas sold 10,000 shares of the stock in a transaction on Wednesday, April 8th. The stock was sold at an average price of $345.23, for a total value 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 approximately $271,759,532.32. This represents a 1.25% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Mark David Brazeal sold 50,488 shares of the firm’s stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $321.60, for a total value of $16,236,940.80. Following the sale, the insider directly owned 278,141 shares of the company’s stock, valued at approximately $89,450,145.60. This represents a 15.36% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 324,282 shares of company stock worth $106,425,249 in the last three months. 1.90% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

AVGO has been the topic of several recent research reports. Erste Group Bank lowered Broadcom from a “buy” rating to a “hold” rating in a report on Thursday, April 2nd. Susquehanna reaffirmed a “positive” rating and set a $490.00 target price (up from $450.00) on shares of Broadcom in a research report on Thursday. Truist Financial upped their target price on Broadcom from $510.00 to $545.00 and gave the stock a “buy” rating in a research report on Thursday, March 5th. Seaport Research Partners reaffirmed a “neutral” rating on shares of Broadcom in a research report on Wednesday, April 8th. Finally, Wells Fargo & Company reaffirmed an “overweight” rating and set a $545.00 target price (up from $430.00) on shares of Broadcom in a research report on Thursday, May 14th. One research analyst has 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $455.07.

Key Headlines Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom unveiled new broadband and Wi‑Fi 8 connectivity innovations with an embedded NPU, reinforcing its AI-at-the-edge growth story and expanding its product pipeline. Article link
• Positive Sentiment: Morgan Stanley raised its price target on Broadcom to $485 and kept an overweight rating, signaling continued analyst confidence ahead of earnings.
• Positive Sentiment: Broadcom is attracting bullish investor attention as traders bet on strong AI-chip demand and a potential breakout after earnings, with several articles calling it a top stock to watch. Article link
• Positive Sentiment: Broadcom is being highlighted by market commentators and bullish research as an AI leader and a long-term growth stock, which is helping sentiment into the earnings print.
• Neutral Sentiment: Some coverage notes that expectations are very high, with the stock trading at a premium valuation, so the upcoming earnings report will need to be strong to justify the move. Article link
• Neutral Sentiment: Traders are expecting a large post-earnings swing, which reflects uncertainty as much as optimism.
• Negative Sentiment: Bearish commentary from one market watcher suggests some investors are hedging ahead of the report, reflecting concern that the stock’s elevated valuation leaves little room for disappointment. Article link

Broadcom Trading Up 3.0%

NASDAQ AVGO opened at $459.97 on Tuesday. The firm has a market capitalization of $2.18 trillion, a P/E ratio of 89.84, a PEG ratio of 0.92 and a beta of 1.41. The business has a fifty day simple moving average of $386.31 and a 200 day simple moving average of $359.32. Broadcom Inc. has a 12 month low of $241.11 and a 12 month high of $466.05. The company has a current ratio of 1.90, a quick ratio of 1.73 and a debt-to-equity ratio of 0.80.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings results on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 EPS for the quarter, beating analysts’ consensus estimates of $2.03 by $0.02. The business 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%.Broadcom’s quarterly revenue was up 29.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.60 EPS. On average, analysts predict that Broadcom Inc. will post 9.91 EPS for the current fiscal year.

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.