Healthcare of Ontario Pension Plan Trust Fund Sells 542,953 Shares of Broadcom Inc. $AVGO

Healthcare of Ontario Pension Plan Trust Fund reduced its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 11.6% in the 4th quarter, HoldingsChannel reports. The firm owned 4,118,675 shares of the semiconductor manufacturer’s stock after selling 542,953 shares during the period. Broadcom comprises approximately 2.4% of Healthcare of Ontario Pension Plan Trust Fund’s holdings, making the stock its 8th largest position. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Broadcom were worth $1,425,473,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in AVGO. Brighton Jones LLC raised its stake in shares of Broadcom by 21.8% during the 4th quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer’s stock worth $6,882,000 after buying an additional 5,322 shares in the last quarter. Revolve Wealth Partners LLC raised its stake in shares of Broadcom by 10.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 7,997 shares of the semiconductor manufacturer’s stock worth $1,854,000 after buying an additional 756 shares in the last quarter. United Bank raised its stake in shares of Broadcom by 76.5% during the 1st quarter. United Bank now owns 2,339 shares of the semiconductor manufacturer’s stock worth $392,000 after buying an additional 1,014 shares in the last quarter. Sivia Capital Partners LLC raised its stake in shares of Broadcom by 10.1% during the 2nd quarter. Sivia Capital Partners LLC now owns 12,693 shares of the semiconductor manufacturer’s stock worth $3,499,000 after buying an additional 1,160 shares in the last quarter. Finally, Capital & Planning LLC raised its stake in shares of Broadcom by 10.5% during the 2nd quarter. Capital & Planning LLC now owns 3,983 shares of the semiconductor manufacturer’s stock worth $1,098,000 after buying an additional 378 shares in the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Insider Buying and Selling at Broadcom

In other news, Director Justine Page sold 2,018 shares of the firm’s stock in a transaction on Wednesday, April 8th. The stock was sold at an average price of $353.00, for a total transaction of $712,354.00. Following the sale, the director owned 18,164 shares in the company, valued at $6,411,892. This trade represents a 10.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider S. Ram Velaga sold 8,000 shares of the firm’s stock in a transaction on Friday, April 10th. The stock was sold at an average price of $370.52, for a total value of $2,964,160.00. Following the sale, the insider owned 57,932 shares in the company, valued at $21,464,964.64. This trade represents a 12.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 215,970 shares of company stock valued at $71,104,945. 1.90% of the stock is currently owned by insiders.

Key Headlines Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom’s quarterly results were very strong, with revenue up 48% to a record $22.2 billion, semiconductor revenue up 79%, AI semiconductor revenue up 143% to $10.8 billion, and more than $30 billion in AI bookings, suggesting demand remains robust. Article Title
• Positive Sentiment: Several analysts and commentators argue the recent drop could be a buying opportunity, saying Broadcom remains a core infrastructure winner in AI and that Wall Street’s long-term outlook is still constructive. Article Title
• Positive Sentiment: Fresh coverage highlighted Broadcom as one of the stocks with catalysts heading into the second half of the year, and some analysts have raised earnings forecasts and price targets despite the selloff. Article Title
• Neutral Sentiment: Jim Cramer said Broadcom’s earnings were “not good” and suggested tech stocks are harder to trust as leadership names, reflecting a more cautious market mood around the stock. Article Title
• Neutral Sentiment: Broadcom also announced cash tender offers for certain outstanding debt securities, a routine balance-sheet move that is unlikely to move the stock by itself. Article Title
• Negative Sentiment: Market commentary says the stock is being punished because investors are nitpicking Broadcom’s AI outlook and pricing the shares as if growth must keep accelerating without any hiccups. Article Title
• Negative Sentiment: One note warned that Broadcom told investors to expect gross profit margins to continue falling, reinforcing concerns that profitability may soften even as revenue grows. Article Title

Broadcom Price Performance

Shares of NASDAQ:AVGO opened at $382.07 on Monday. The business’s fifty day moving average price is $404.26 and its two-hundred day moving average price is $363.22. The stock has a market cap of $1.82 trillion, a PE ratio of 63.68, a price-to-earnings-growth ratio of 0.67 and a beta of 1.41. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.01 and a current ratio of 2.24. Broadcom Inc. has a one year low of $244.17 and a one year high of $495.00.

Broadcom (NASDAQ:AVGO) last announced its earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 EPS for the quarter, beating analysts’ consensus estimates of $2.40 by $0.04. The firm had revenue of $22.19 billion for the quarter, compared to analysts’ expectations of $22.13 billion. Broadcom had a return on equity of 41.61% and a net margin of 38.85%.Broadcom’s quarterly revenue was up 47.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.58 EPS. On average, analysts forecast that Broadcom Inc. will post 10.24 EPS for the current fiscal year.

Broadcom Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 22nd will be issued a dividend of $0.65 per share. The ex-dividend date is Monday, June 22nd. This represents a $2.60 annualized dividend and a dividend yield of 0.7%. Broadcom’s dividend payout ratio (DPR) is 43.33%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Evercore reissued an “outperform” rating and set a $582.00 target price on shares of Broadcom in a research note on Tuesday, May 19th. Truist Financial raised their price objective on Broadcom from $545.00 to $550.00 and gave the company a “buy” rating in a research note on Thursday, June 4th. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $545.00 price objective (up from $430.00) on shares of Broadcom in a research note on Thursday, May 14th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $515.00 price objective (up from $430.00) on shares of Broadcom in a research note on Thursday, June 4th. Finally, Royal Bank Of Canada raised their price objective on Broadcom from $360.00 to $400.00 and gave the company a “sector perform” rating in a research note on Thursday, June 4th. One analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $490.13.

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.