Core Alternative Capital Has $1.92 Million Stake in Broadcom Inc. $AVGO

Core Alternative Capital boosted its stake in Broadcom Inc. (NASDAQ:AVGO) by 57.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,542 shares of the semiconductor manufacturer’s stock after buying an additional 2,012 shares during the quarter. Core Alternative Capital’s holdings in Broadcom were worth $1,918,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of AVGO. Arrowstreet Capital Limited Partnership boosted its stake in Broadcom by 499.4% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 5,634,232 shares of the semiconductor manufacturer’s stock valued at $1,858,789,000 after buying an additional 4,694,313 shares in the last quarter. Vanguard Group Inc. boosted 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 worth $167,064,997,000 after purchasing an additional 3,919,715 shares in the last quarter. Nordea Investment Management AB boosted 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 worth $3,406,211,000 after purchasing an additional 3,160,586 shares in the last quarter. Danske Bank A S acquired a new position in Broadcom in the third quarter worth $987,488,000. Finally, PFA Pension Forsikringsaktieselskab acquired a new position in Broadcom in the fourth quarter worth $924,858,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insiders Place Their Bets

In related news, insider Mark David Brazeal sold 50,488 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 $16,236,940.80. Following the completion of the sale, the insider owned 278,141 shares in the company, valued at approximately $89,450,145.60. This represents a 15.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Charlie B. Kawwas sold 10,000 shares of the company’s stock in a transaction dated Wednesday, April 8th. The shares were sold at an average price of $345.23, for a total value of $3,452,300.00. Following the completion of the sale, the insider owned 787,184 shares of the company’s stock, valued at $271,759,532.32. This represents a 1.25% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 324,282 shares of company stock valued at $106,425,249 in the last ninety days. 1.90% of the stock is currently owned by insiders.

Broadcom News Roundup

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

Analyst Ratings Changes

A number of equities analysts have commented on the company. JPMorgan Chase & Co. boosted their price objective on Broadcom from $475.00 to $500.00 and gave the stock an “overweight” rating in a research note on Thursday, March 5th. Bank of America reduced their price objective on Broadcom from $500.00 to $450.00 and set a “buy” rating on the stock in a research note on Thursday, March 5th. Weiss Ratings lowered Broadcom from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, April 24th. Mizuho restated an “outperform” rating and set a $480.00 target price on shares of Broadcom in a research report on Thursday, April 16th. Finally, Truist Financial boosted their target price on Broadcom from $510.00 to $545.00 and gave the stock a “buy” rating in a research report on Thursday, March 5th. Two analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $435.30.

Broadcom Stock Performance

AVGO stock opened at $430.00 on Monday. The business has a fifty day moving average of $352.89 and a 200-day moving average of $351.28. The company has a market cap of $2.04 trillion, a P/E ratio of 83.98, a PEG ratio of 0.89 and a beta of 1.43. The company has a quick ratio of 1.73, a current ratio of 1.90 and a debt-to-equity ratio of 0.80. Broadcom Inc. has a twelve month low of $206.52 and a twelve month high of $437.68.

Broadcom (NASDAQ:AVGO) last released 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. The business had revenue of $19.31 billion during the quarter, compared to the consensus estimate of $19.10 billion. Broadcom had a return on equity of 38.61% and a net margin of 36.57%.The firm’s revenue was up 29.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.60 earnings per share. As a group, equities research analysts expect that Broadcom Inc. will post 9.95 EPS for the current year.

Broadcom Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Monday, March 23rd were issued a $0.65 dividend. 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 dividend payout ratio is currently 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.