T. Rowe Price Investment Management Inc. Acquires 2,298,027 Shares of Broadcom Inc. $AVGO

T. Rowe Price Investment Management Inc. grew its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 72.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,476,269 shares of the semiconductor manufacturer’s stock after acquiring an additional 2,298,027 shares during the quarter. Broadcom accounts for approximately 1.2% of T. Rowe Price Investment Management Inc.’s holdings, making the stock its 15th biggest holding. T. Rowe Price Investment Management Inc. owned approximately 0.12% of Broadcom worth $1,895,337,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in AVGO. WealthPoint Financial LLC purchased a new stake in shares of Broadcom in the 4th quarter valued at $492,000. Van Diest Capital LLC purchased a new position in Broadcom in the 4th quarter worth $541,000. Compound Planning Inc. raised its position in Broadcom by 140.0% in the 4th quarter. Compound Planning Inc. now owns 126,482 shares of the semiconductor manufacturer’s stock worth $43,775,000 after purchasing an additional 73,783 shares during the period. Claris Financial LLC bought a new stake in Broadcom in the fourth quarter worth $1,386,000. Finally, TMB Capital Partners LLC bought a new stake in Broadcom in the fourth quarter worth $6,209,000. 76.43% of the stock is currently owned by institutional investors.

Key Headlines Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom expanded its cash tender offers for outstanding debt to $3 billion from $2.5 billion after strong investor demand, which can be viewed as a sign of balance-sheet management and helped lift sentiment toward the stock. Broadcom Inc. Announces Results and Upsize of Offers to Purchase for Cash Certain of its Outstanding Debt Securities
• Positive Sentiment: JPMorgan reiterated a bullish view, saying investors should be “aggressive buyers” and arguing the market is underestimating Broadcom’s long-term AI opportunity, reinforcing the rally in AVGO. AVGO stock jumps — JPMorgan says investors should be ‘aggressive buyers’ of Broadcom at current levels
• Positive Sentiment: Citi also highlighted Broadcom as a top chip stock on soaring data-center demand, adding to optimism around AI-driven revenue growth. Citi Touts Broadcom Inc. (AVGO) as a Top Chip Stock on Soaring Data Center Demand
• Neutral Sentiment: Insider Mark David Brazeal sold shares in two June transactions totaling more than 8,100 shares. The sales are notable, but they represent relatively small reductions in a large personal holding and do not necessarily signal a change in the company’s outlook. Mark David Brazeal insider trading page

Wall Street Analysts Forecast Growth

AVGO has been the subject of several analyst reports. Benchmark upped their price target on shares of Broadcom from $485.00 to $545.00 and gave the company a “buy” rating in a research report on Thursday, June 4th. The Goldman Sachs Group reissued a “buy” rating and issued a $525.00 target price on shares of Broadcom in a research note on Thursday, June 4th. Rosenblatt Securities restated a “buy” rating and set a $500.00 target price on shares of Broadcom in a report on Thursday, June 4th. Susquehanna restated a “positive” rating and set a $490.00 price target (up from $450.00) on shares of Broadcom in a research report on Thursday, May 28th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $515.00 price target (up from $430.00) on shares of Broadcom in a research note on Thursday, June 4th. One research analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, Broadcom currently has a consensus rating of “Moderate Buy” and an average price target of $490.13.

Broadcom Price Performance

AVGO stock opened at $411.35 on Friday. The stock has a market capitalization of $1.96 trillion, a price-to-earnings ratio of 68.56, a PEG ratio of 0.69 and a beta of 1.41. The firm’s 50-day moving average price is $410.21 and its two-hundred day moving average price is $363.17. The company has a current ratio of 2.24, a quick ratio of 2.01 and a debt-to-equity ratio of 0.71. Broadcom Inc. has a 12-month low of $244.17 and a 12-month high of $495.00.

Broadcom (NASDAQ:AVGO) last posted its earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share for the quarter, topping analysts’ consensus estimates of $2.40 by $0.04. The company had revenue of $22.19 billion during the quarter, compared to analyst estimates of $22.13 billion. Broadcom had a net margin of 38.85% and a return on equity of 41.61%. Broadcom’s revenue for the quarter was up 47.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.58 earnings per share. As a group, equities analysts predict that Broadcom Inc. will post 10.24 earnings per share for the current 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 given a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date is Monday, June 22nd. Broadcom’s dividend payout ratio (DPR) is currently 43.33%.

Insider Transactions at Broadcom

In other news, Director Gayla J. Delly sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, April 9th. The stock was sold at an average price of $358.31, for a total transaction of $358,310.00. Following the transaction, the director directly owned 32,352 shares of the company’s stock, valued at approximately $11,592,045.12. The trade was a 3.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Mark David Brazeal sold 4,825 shares of the company’s stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $394.91, for a total value of $1,905,440.75. Following the transaction, the insider owned 269,989 shares of the company’s stock, valued at approximately $106,621,355.99. This represents a 1.76% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 59,385 shares of company stock worth $21,301,057. Corporate insiders own 1.90% of the company’s stock.

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.