Fourier Capital Management Ltd Acquires Shares of 20,931 Broadcom Inc. $AVGO

Fourier Capital Management Ltd acquired a new stake in Broadcom Inc. (NASDAQ:AVGO) during the 4th quarter, Holdings Channel reports. The institutional investor acquired 20,931 shares of the semiconductor manufacturer’s stock, valued at approximately $7,244,000. Broadcom comprises about 7.7% of Fourier Capital Management Ltd’s holdings, making the stock its 7th largest position.

Several other hedge funds have also made changes to their positions in AVGO. Brighton Jones LLC lifted its holdings in shares of Broadcom by 21.8% in 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 during the period. Revolve Wealth Partners LLC lifted 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 purchasing an additional 756 shares during the last quarter. United Bank raised its stake in Broadcom by 76.5% in the first quarter. United Bank now owns 2,339 shares of the semiconductor manufacturer’s stock valued at $392,000 after buying an additional 1,014 shares during the last quarter. Sivia Capital Partners LLC raised its stake in Broadcom by 10.1% in the second quarter. Sivia Capital Partners LLC now owns 12,693 shares of the semiconductor manufacturer’s stock valued at $3,499,000 after buying an additional 1,160 shares during the last quarter. Finally, Capital & Planning LLC raised its stake in Broadcom by 10.5% in the second quarter. Capital & Planning LLC now owns 3,983 shares of the semiconductor manufacturer’s stock valued at $1,098,000 after buying an additional 378 shares during the last quarter. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CFO Kirsten M. Spears sold 36,292 shares of the company’s stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $321.60, for a total transaction of $11,671,507.20. Following the completion of the transaction, the chief financial officer directly owned 327,760 shares of the company’s stock, valued at approximately $105,407,616. This represents a 9.97% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider S. Ram Velaga sold 38,841 shares of the company’s stock in a transaction dated 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 transaction, the insider directly owned 96,147 shares of the company’s stock, valued at approximately $30,920,875.20. This represents a 28.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 324,282 shares of company stock valued at $106,425,249. 1.90% of the stock is owned by insiders.

Broadcom Price Performance

AVGO stock opened at $411.07 on Wednesday. Broadcom Inc. has a 12-month low of $226.18 and a 12-month high of $442.36. The company has a market capitalization of $1.95 trillion, a PE ratio of 80.29, a P/E/G ratio of 0.87 and a beta of 1.43. The company has a current ratio of 1.90, a quick ratio of 1.73 and a debt-to-equity ratio of 0.80. The business’s fifty day moving average price is $368.97 and its 200 day moving average price is $355.08.

Broadcom (NASDAQ:AVGO) last released its earnings results on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 EPS 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 firm had revenue of $19.31 billion during the quarter, compared to analysts’ expectations of $19.10 billion. During the same period in the previous year, the firm posted $1.60 EPS. Broadcom’s revenue for the quarter was up 29.5% on a year-over-year basis. On average, sell-side analysts anticipate that Broadcom Inc. will post 9.97 EPS for the current year.

Broadcom Announces Dividend

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

Analyst Ratings Changes

Several research analysts have recently issued reports on AVGO shares. Weiss Ratings cut Broadcom from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, April 24th. Rosenblatt Securities reaffirmed a “buy” rating and set a $500.00 target price on shares of Broadcom in a report on Tuesday, April 7th. Citigroup reissued a “buy” rating and issued a $500.00 price objective (up from $475.00) on shares of Broadcom in a report on Tuesday, May 12th. Truist Financial raised their price objective on Broadcom from $510.00 to $545.00 and gave the company a “buy” rating in a report on Thursday, March 5th. Finally, Royal Bank Of Canada lowered their price target on Broadcom from $370.00 to $340.00 and set a “sector perform” rating on the stock in a research note on Monday, March 2nd. Two research analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $448.10.

Key Broadcom News

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom renewed its long-running technology partnership with LSEG in a new five-year agreement centered on VMware Cloud Foundation, expanding Broadcom’s role in LSEG’s private cloud infrastructure and adding professional services revenue potential. LSEG renews Broadcom partnership to expand cloud infrastructure strategy (AVGO)
• Positive Sentiment: Wall Street remains bullish on AVGO, with recent analyst updates and price targets pointing to confidence in Broadcom’s AI-driven growth and leadership in semiconductor and infrastructure software. Wall Street sets Broadcom stock price target for next 12 months
• Neutral Sentiment: Recent coverage continues to highlight Broadcom as a major AI infrastructure beneficiary, with analysts favoring AVGO over some peers because of its strong AI revenue growth and broad demand trends. ALAB vs. AVGO: Which AI Infrastructure Stock Is the Better Buy Now?
• Neutral Sentiment: Broader market commentary and stock-search interest have kept AVGO in the spotlight, but these items do not point to a direct fundamental change. Investors Heavily Search Broadcom Inc. (AVGO): Here is What You Need to Know
• Negative Sentiment: AVGO had recently been trading lower at times, reflecting some profit-taking even as the longer-term story remains tied to AI and enterprise software growth. Broadcom Inc. (AVGO) Declines More Than Market: Some Information for Investors

Broadcom Profile

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.