Midwest Professional Planners LTD. Has $11.87 Million Stock Holdings in Broadcom Inc. $AVGO

Midwest Professional Planners LTD. lessened its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 8.0% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 38,335 shares of the semiconductor manufacturer’s stock after selling 3,311 shares during the period. Broadcom accounts for about 2.8% of Midwest Professional Planners LTD.’s portfolio, making the stock its 4th largest position. Midwest Professional Planners LTD.’s holdings in Broadcom were worth $11,865,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Norges Bank bought a new position in shares of Broadcom during the 4th quarter worth about $24,252,196,000. Cardano Risk Management B.V. raised its stake in Broadcom by 895.2% during the 4th quarter. Cardano Risk Management B.V. now owns 12,689,800 shares of the semiconductor manufacturer’s stock worth $4,391,940,000 after buying an additional 11,414,701 shares during the period. State Street Corp boosted its holdings in Broadcom by 2.7% in the fourth quarter. State Street Corp now owns 190,084,351 shares of the semiconductor manufacturer’s stock worth $65,788,194,000 after acquiring an additional 5,040,801 shares in the last quarter. Vanguard Group Inc. grew 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 acquiring an additional 3,919,715 shares during the period. Finally, Nordea Investment Management AB grew its stake in Broadcom by 47.5% in the fourth quarter. Nordea Investment Management AB now owns 9,814,757 shares of the semiconductor manufacturer’s stock valued at $3,406,211,000 after acquiring an additional 3,160,586 shares during the period. 76.43% of the stock is owned by institutional investors.

Key Headlines Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Standard Chartered chose Broadcom to support a long-term modernization of its global banking infrastructure, underscoring Broadcom’s role in secure private-cloud and enterprise networking solutions. Standard Chartered Selects Broadcom to Deliver Secure, Always-On Banking Services at Global Scale
• Positive Sentiment: Wall Street commentary continues to describe Broadcom as a core AI beneficiary, and some analysts have raised price targets even after the stock pullback. As Shares Fall, Analyst Are Boosting Their Broadcom Price Targets
• Neutral Sentiment: Broadcom remains a major talking point in AI-focused market coverage, with some investors viewing it as an indicator for the broader market and semiconductor cycle. Jim Cramer Says Broadcom Will Tell You When the Market Is About to Turn
• Negative Sentiment: Broadcom is facing renewed skepticism around valuation, with one report asking whether the AI story has made the stock too expensive. Has Broadcom Become Too Expensive for Its AI Story?
• Negative Sentiment: The stock is also being hit by a broader selloff in semiconductor names as investors rotate away from AI-capex winners and worry about a slowdown in chip spending. Marvell Drops 8% as AI Capex Slowdown Fears Weigh on Chips; Broadcom, AMD, and Intel Slide
• Negative Sentiment: Broadcom is also dealing with regulatory uncertainty after reports said it faces an EU antitrust review tied to VMware licensing changes. Broadcom (AVGO) Faces EU Antitrust Review Over VMware Licensing Changes

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on AVGO shares. Dbs Bank raised Broadcom to a “moderate buy” rating in a research report on Thursday, June 18th. Morgan Stanley set a $502.00 price target on shares of Broadcom and gave the company an “overweight” rating in a research 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 note on Thursday, May 28th. Oppenheimer restated an “outperform” rating and set a $535.00 price objective (up from $450.00) on shares of Broadcom in a report on Thursday, June 4th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Broadcom from $500.00 to $580.00 and gave the company an “overweight” rating in a research note on Thursday, June 4th. One research analyst has rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $493.24.

Insider Activity

In other Broadcom news, Director Justine Page sold 1,602 shares of the stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $373.86, for a total value of $598,923.72. Following the completion of the sale, the director owned 17,426 shares in the company, valued at approximately $6,514,884.36. This trade represents a 8.42% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Mark David Brazeal sold 25,000 shares of Broadcom stock in a transaction that occurred on Friday, July 10th. The stock was sold at an average price of $401.33, for a total transaction of $10,033,250.00. Following the transaction, the insider directly owned 194,989 shares in the company, valued at approximately $78,254,935.37. This represents a 11.36% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 61,644 shares of company stock valued at $24,016,214 in the last three months. 1.90% of the stock is owned by company insiders.

Broadcom Trading Down 1.0%

NASDAQ AVGO opened at $370.83 on Friday. The company has a current ratio of 2.24, a quick ratio of 2.01 and a debt-to-equity ratio of 0.71. The business has a fifty day simple moving average of $401.29 and a 200 day simple moving average of $365.31. Broadcom Inc. has a 12 month low of $273.00 and a 12 month high of $495.00. The firm has a market capitalization of $1.76 trillion, a P/E ratio of 61.81, a PEG ratio of 0.65 and a beta of 1.45.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.40 by $0.04. Broadcom had a net margin of 38.85% and a return on equity of 41.61%. The firm had revenue of $22.19 billion for the quarter, compared to the consensus estimate of $22.13 billion. During the same period in the previous year, the firm earned $1.58 EPS. The business’s revenue for the quarter was up 47.9% compared to the same quarter last year. On average, analysts predict that Broadcom Inc. will post 10.24 EPS for the current fiscal year.

Broadcom Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 22nd were given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Monday, June 22nd. Broadcom’s dividend payout ratio (DPR) is presently 43.33%.

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.