Broadcom Inc. $AVGO Shares Sold by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd reduced its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 0.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 759,834 shares of the semiconductor manufacturer’s stock after selling 5,227 shares during the quarter. Broadcom accounts for approximately 2.1% of Sumitomo Mitsui DS Asset Management Company Ltd’s investment portfolio, making the stock its 6th biggest holding. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Broadcom were worth $262,979,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of AVGO. JCIC Asset Management Inc. acquired a new stake in Broadcom in the third quarter valued at approximately $31,000. Miller Global Investments LLC acquired a new position in shares of Broadcom during the 4th quarter worth approximately $31,000. Nvest Wealth Strategies Inc. purchased a new position in shares of Broadcom during the 4th quarter valued at approximately $33,000. Manning & Napier Advisors LLC purchased a new position in shares of Broadcom during the 3rd quarter valued at approximately $34,000. Finally, Family CFO Inc acquired a new stake in Broadcom in the 4th quarter valued at $35,000. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Broadcom Stock Performance

AVGO opened at $419.30 on Wednesday. Broadcom Inc. has a twelve month low of $221.60 and a twelve month high of $437.68. The firm has a market capitalization of $1.99 trillion, a PE ratio of 81.89, a PEG ratio of 0.89 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 firm’s 50-day moving average price is $358.98 and its 200 day moving average price is $353.01.

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 company had revenue of $19.31 billion during the quarter, compared to the consensus estimate of $19.10 billion. Broadcom had a net margin of 36.57% and a return on equity of 38.61%. Broadcom’s quarterly revenue was up 29.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.60 EPS. As a group, sell-side analysts expect that Broadcom Inc. will post 9.95 EPS for the current fiscal 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 given a dividend of $0.65 per share. The ex-dividend date was Monday, March 23rd. This represents a $2.60 dividend on an annualized basis and a yield of 0.6%. Broadcom’s dividend payout ratio (DPR) is presently 50.78%.

Key Headlines Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Citi raised its price target on Broadcom to $500 from $475 and kept a Buy rating, citing strong AI demand and expectations for another strong quarter. Citi Raises Broadcom Price Target to $500: AI Demand Sets Up Another Big April Quarter
• Positive Sentiment: Other Wall Street coverage also pointed to continued upside for Broadcom, reflecting optimism around its AI infrastructure exposure and earnings outlook. Wall Street sets Broadcom (AVGO) stock price for the next 12 months
• Positive Sentiment: Zacks highlighted Broadcom’s strong earnings-surprise history and said the company appears well-positioned to beat estimates again in its next report. Will Broadcom Inc. (AVGO) Beat Estimates Again in Its Next Earnings Report?
• Neutral Sentiment: Broadcom’s latest stock move also appears tied to a recent run-up, with one article saying investors were taking profits after a large AI-driven rally rather than reacting to a fundamental deterioration. Why analysts are bullish on Broadcom stock despite a 4% fall today?
• Neutral Sentiment: Several hedge-fund and institutional filings showed mixed activity in Broadcom, with some firms trimming holdings while Mirova US LLC added shares; these moves are notable but not necessarily a direct signal on the company’s fundamentals. PRIMECAP Management Co trims Broadcom stake by 12,410 shares Cincinnati Specialty Underwriters slashes Broadcom stake by 207K shares Mirova US LLC Boosts Broadcom Stake by 183,850 Shares

Insider Buying and Selling

In other Broadcom news, CFO Kirsten M. Spears sold 36,292 shares of the firm’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 completion of the sale, the chief financial officer directly owned 327,760 shares of the company’s stock, valued at $105,407,616. This trade represents a 9.97% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Mark David Brazeal sold 50,488 shares of Broadcom stock in a transaction on 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 transaction, the insider owned 278,141 shares in the company, valued at approximately $89,450,145.60. This represents a 15.36% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 324,282 shares of company stock worth $106,425,249. 1.90% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have weighed in on AVGO. Seaport Research Partners restated a “neutral” rating on shares of Broadcom in a research report on Wednesday, April 8th. Royal Bank Of Canada dropped their target price on shares of Broadcom from $370.00 to $340.00 and set a “sector perform” rating on the stock in a research report on Monday, March 2nd. Truist Financial boosted their target price on shares of Broadcom from $510.00 to $545.00 and gave the stock a “buy” rating in a research note on Thursday, March 5th. Morgan Stanley raised their price target on shares of Broadcom from $462.00 to $470.00 and gave the company an “overweight” rating in a research note on Friday, March 6th. Finally, Benchmark reiterated a “buy” rating and issued a $485.00 price objective on shares of Broadcom in a report on Thursday, March 5th. Two research analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $436.13.

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.