Sun Financial Inc Takes $1.20 Million Position in Broadcom Inc. $AVGO

Sun Financial Inc bought a new stake in Broadcom Inc. (NASDAQ:AVGO) in the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 3,458 shares of the semiconductor manufacturer’s stock, valued at approximately $1,197,000.

Several other large investors also recently made changes to their positions in the company. Avidian Wealth Enterprises LLC grew its stake in shares of Broadcom by 2.7% in the 4th quarter. Avidian Wealth Enterprises LLC now owns 26,741 shares of the semiconductor manufacturer’s stock valued at $9,255,000 after buying an additional 695 shares during the period. Advisors Preferred LLC bought a new stake in shares of Broadcom during the fourth quarter valued at approximately $4,271,000. Long Run Wealth Advisors LLC increased its holdings in shares of Broadcom by 2.6% during the fourth quarter. Long Run Wealth Advisors LLC now owns 5,937 shares of the semiconductor manufacturer’s stock valued at $2,055,000 after acquiring an additional 151 shares in the last quarter. FSA Advisors Inc. increased its holdings in shares of Broadcom by 3,492.5% during the fourth quarter. FSA Advisors Inc. now owns 55,288 shares of the semiconductor manufacturer’s stock valued at $19,135,000 after acquiring an additional 53,749 shares in the last quarter. Finally, Reynders McVeigh Capital Management LLC increased its holdings in shares of Broadcom by 45.7% during the fourth quarter. Reynders McVeigh Capital Management LLC now owns 87,749 shares of the semiconductor manufacturer’s stock valued at $30,370,000 after acquiring an additional 27,521 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Broadcom news, CFO Kirsten M. Spears sold 36,292 shares of the business’s stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $321.60, for a total value of $11,671,507.20. Following the transaction, the chief financial officer owned 327,760 shares of the company’s stock, valued at approximately $105,407,616. The trade was a 9.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider S. Ram Velaga sold 38,841 shares of the business’s stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $321.60, for a total value of $12,491,265.60. Following the completion of the transaction, the insider directly owned 96,147 shares in the company, valued at approximately $30,920,875.20. This represents a 28.77% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 324,282 shares of company stock worth $106,425,249 in the last ninety days. Company insiders own 1.90% of the company’s stock.

Broadcom Price Performance

AVGO stock opened at $430.00 on Monday. The stock’s fifty day simple moving average is $352.89 and its two-hundred day simple moving average is $351.28. 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 Inc. has a 1-year low of $206.52 and a 1-year high of $437.68. The stock has a market cap of $2.04 trillion, a P/E ratio of 83.98, a P/E/G ratio of 0.89 and a beta of 1.43.

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

Broadcom Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Monday, March 23rd were given a $0.65 dividend. The ex-dividend date of this dividend was Monday, March 23rd. This represents a $2.60 annualized dividend and a yield of 0.6%. Broadcom’s payout ratio is currently 50.78%.

Key Headlines Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

• Negative Sentiment: Broadcom shares are under pressure after reports said OpenAI’s planned $18 billion custom chip deal with the company hit a financing roadblock, creating uncertainty around a key AI revenue driver. Broadcom shares slump as OpenAI’s $18B custom chip deal hits financing snag
• Negative Sentiment: Another report framed the OpenAI issue as a major setback for Broadcom’s custom AI chip ambitions, adding concern that one of its flagship customer relationships may not be as immediately monetizable as investors hoped. Broadcom’s OpenAI mega AI deal hits $18 billion wall
• Neutral Sentiment: Broadcom also announced VMware by Broadcom VCF 9.1, a product update aimed at accelerating production AI workloads in private clouds, which supports the company’s long-term enterprise AI strategy. Broadcom (AVGO) Launches VCF 9.1 to Accelerate Production AI in Private Clouds
• Neutral Sentiment: Several commentary pieces remained constructive on Broadcom’s position in the AI infrastructure stack, noting that recent hyperscaler results still support demand for chips and networking tied to AI buildouts. Big Tech earnings support Broadcom’s outlook
• Neutral Sentiment: Broadcom was also mentioned in a public-sector VMware partnership update, which could help broaden enterprise distribution but is not likely the main driver of the stock today. evoila U.S. and Carahsoft Partner to Deliver VMware by Broadcom Services to the Public Sector

Analysts Set New Price Targets

Several research firms have recently commented on AVGO. Mizuho restated an “outperform” rating and set a $480.00 price objective on shares of Broadcom in a report on Thursday, April 16th. Seaport Research Partners restated a “neutral” rating on shares of Broadcom in a report on Wednesday, April 8th. Erste Group Bank downgraded Broadcom from a “buy” rating to a “hold” rating in a report on Thursday, April 2nd. Weiss Ratings cut Broadcom from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, April 24th. Finally, Morgan Stanley lifted their target price on Broadcom from $462.00 to $470.00 and gave the company an “overweight” rating in a research report on Friday, March 6th. Two analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $435.30.

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.