International Assets Investment Management LLC Acquires 4,454 Shares of Broadcom Inc. $AVGO

International Assets Investment Management LLC grew its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 7.7% in the 4th quarter, Holdings Channel reports. The fund owned 62,368 shares of the semiconductor manufacturer’s stock after buying an additional 4,454 shares during the period. Broadcom accounts for 1.2% of International Assets Investment Management LLC’s investment portfolio, making the stock its 14th largest holding. International Assets Investment Management LLC’s holdings in Broadcom were worth $21,585,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Coston McIsaac & Partners boosted its holdings in shares of Broadcom by 99.2% during the 4th quarter. Coston McIsaac & Partners now owns 1,235 shares of the semiconductor manufacturer’s stock valued at $427,000 after acquiring an additional 615 shares in the last quarter. Winch Advisory Services LLC increased its holdings in Broadcom by 6.9% in the 4th quarter. Winch Advisory Services LLC now owns 1,489 shares of the semiconductor manufacturer’s stock worth $515,000 after purchasing an additional 96 shares in the last quarter. MGO One Seven LLC raised its position in Broadcom by 7.8% in the fourth quarter. MGO One Seven LLC now owns 175,108 shares of the semiconductor manufacturer’s stock valued at $60,605,000 after purchasing an additional 12,704 shares during the last quarter. MPS Loria Financial Planners LLC raised its position in Broadcom by 4.0% in the fourth quarter. MPS Loria Financial Planners LLC now owns 1,890 shares of the semiconductor manufacturer’s stock valued at $654,000 after purchasing an additional 72 shares during the last quarter. Finally, Cassaday & Co Wealth Management LLC boosted its stake in shares of Broadcom by 10.5% during the fourth quarter. Cassaday & Co Wealth Management LLC now owns 6,087 shares of the semiconductor manufacturer’s stock valued at $2,107,000 after purchasing an additional 579 shares in the last quarter. Institutional investors own 76.43% of the company’s stock.

Analysts Set New Price Targets

AVGO has been the subject of several recent research reports. Seaport Research Partners reaffirmed a “neutral” rating on shares of Broadcom in a research note on Wednesday, April 8th. Erste Group Bank lowered shares of Broadcom from a “buy” rating to a “hold” rating in a report on Thursday, April 2nd. Citigroup restated a “buy” rating and issued a $500.00 price target (up from $475.00) on shares of Broadcom in a research report on Tuesday. Mizuho reaffirmed an “outperform” rating and set a $480.00 price target on shares of Broadcom in a research note on Thursday, April 16th. Finally, Zacks Research upgraded shares of Broadcom from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 2nd. Two research analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $439.97.

Insider Buying and Selling at Broadcom

In other Broadcom news, insider Charlie B. Kawwas sold 39,116 shares of the company’s stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $321.61, for a total transaction of $12,580,096.76. Following the transaction, the insider owned 74,626 shares in the company, valued at approximately $24,000,467.86. This represents a 34.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Kirsten M. Spears sold 36,292 shares of Broadcom stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $321.60, for a total transaction of $11,671,507.20. Following the transaction, the chief financial officer owned 327,760 shares of the company’s stock, valued at $105,407,616. This represents a 9.97% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 324,282 shares of company stock worth $106,425,249. Corporate insiders own 1.90% of the company’s stock.

Broadcom News Roundup

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Wells Fargo and other analysts turned more bullish on Broadcom’s AI chip and data-center networking business, saying Wall Street may be underestimating demand from hyperscaler buildouts. Article Title
• Positive Sentiment: Broadcom is being framed as one of the main winners of the AI capital-spending cycle, with multiple articles highlighting accelerating custom AI silicon revenue and expectations for continued earnings growth into the next report. Article Title
• Positive Sentiment: Investor sentiment was also helped by major institutions and high-profile investors continuing to add to Broadcom positions, reinforcing the view that the AI thesis remains intact. Article Title
• Neutral Sentiment: Broadcom’s valuation remains elevated after its sharp run, so the stock may be sensitive to any sign that AI growth slows or expectations become too optimistic.
• Negative Sentiment: The company is also facing an EU antitrust lawsuit over VMware-related document requests, which adds a legal overhang even though it is not the main driver of today’s move. Article Title

Broadcom Stock Performance

Shares of Broadcom stock opened at $439.79 on Friday. The business has a 50-day simple moving average of $363.46 and a 200 day simple moving average of $354.12. The firm has a market capitalization of $2.08 trillion, a price-to-earnings ratio of 85.90, a PEG ratio of 0.86 and a beta of 1.43. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.90 and a quick ratio of 1.73. Broadcom Inc. has a one year low of $221.60 and a one year high of $442.36.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 EPS for the quarter, beating analysts’ consensus estimates of $2.03 by $0.02. Broadcom had a return on equity of 38.61% and a net margin of 36.57%.The firm had revenue of $19.31 billion during the quarter, compared to analysts’ expectations of $19.10 billion. During the same quarter last year, the firm posted $1.60 earnings per share. The company’s revenue for the quarter was up 29.5% compared to the same quarter last year. On average, research analysts anticipate that Broadcom Inc. will post 9.95 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

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

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.