MGO One Seven LLC Acquires 12,704 Shares of Broadcom Inc. $AVGO

MGO One Seven LLC increased its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 7.8% during the fourth quarter, Holdings Channel reports. The fund owned 175,108 shares of the semiconductor manufacturer’s stock after acquiring an additional 12,704 shares during the quarter. Broadcom comprises about 1.2% of MGO One Seven LLC’s holdings, making the stock its 6th biggest holding. MGO One Seven LLC’s holdings in Broadcom were worth $60,605,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. JCIC Asset Management Inc. acquired a new position in Broadcom in the 3rd quarter valued at $31,000. Miller Global Investments LLC acquired a new position in Broadcom in the 4th quarter valued at $31,000. Nvest Wealth Strategies Inc. acquired a new position in Broadcom in the 4th quarter valued at $33,000. Manning & Napier Advisors LLC acquired a new position in Broadcom in the 3rd quarter valued at $34,000. Finally, Family CFO Inc acquired a new position in Broadcom in the 4th quarter valued at $35,000. 76.43% of the stock is owned by institutional investors and hedge funds.

Broadcom Price Performance

Shares of AVGO stock opened at $416.79 on Thursday. 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 $221.60 and a twelve month high of $437.68. The company has a market cap of $1.97 trillion, a P/E ratio of 81.40, a P/E/G ratio of 0.87 and a beta of 1.43. The business has a fifty day simple moving average of $360.94 and a 200 day simple moving average of $353.52.

Broadcom (NASDAQ:AVGO) last announced 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 during the quarter, compared to the consensus estimate of $19.10 billion. During the same period in the prior year, the company earned $1.60 EPS. Broadcom’s revenue for the quarter was up 29.5% on a year-over-year basis. On average, sell-side analysts forecast that Broadcom Inc. will post 9.95 EPS for the current fiscal year.

Broadcom Announces Dividend

The firm 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. This represents a $2.60 annualized dividend and a dividend yield of 0.6%. The ex-dividend date was Monday, March 23rd. Broadcom’s dividend payout ratio is currently 50.78%.

Analyst Ratings Changes

A number of brokerages have commented on AVGO. Truist Financial upped 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. Zacks Research raised Broadcom from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 2nd. Weiss Ratings lowered Broadcom from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, April 24th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $500.00 price objective on shares of Broadcom in a report on Tuesday, April 7th. Finally, DA Davidson raised Broadcom to a “hold” rating in a report on Friday, February 13th. Two 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 data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $436.13.

Insider Buying and Selling at Broadcom

In related news, Director Justine Page sold 2,018 shares of the company’s stock in a transaction on Wednesday, April 8th. The stock was sold at an average price of $353.00, for a total transaction of $712,354.00. Following the completion of the sale, the director directly owned 18,164 shares in the company, valued at $6,411,892. This represents a 10.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Gayla J. Delly sold 1,000 shares of the company’s stock in a transaction on Thursday, April 9th. The stock was sold at an average price of $358.31, for a total value of $358,310.00. Following the sale, the director owned 32,352 shares of the company’s stock, valued at approximately $11,592,045.12. This represents a 3.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 324,282 shares of company stock worth $106,425,249 over the last quarter. 1.90% of the stock is currently owned by company insiders.

More Broadcom News

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, saying the company remains one of Wall Street’s top semiconductor picks heading into earnings on continued AI demand. Broadcom Enters Earnings As Citi’s Top Semiconductor Pick
• Positive Sentiment: Multiple reports highlighted Broadcom’s growing role in custom AI silicon and AI infrastructure, including talk of a large financing package to support its chipmaking buildout, reinforcing the bullish long-term AI investment case. Why Broadcom (AVGO) Is Becoming a Bigger Force in Custom AI Silicon
• Positive Sentiment: Fund-flow headlines were supportive, with Chris Rokos reportedly buying Broadcom and Mirova US LLC increasing its stake, suggesting institutional confidence remains strong. Broadcom Inc. (AVGO): Chris Rokos Is Buying This Chip Stock
• Neutral Sentiment: Broadcom sued EU antitrust regulators over a request for U.S. legal documents tied to the VMware deal, which adds legal noise but is not yet a clear business fundamental issue. Broadcom sues EU antitrust regulators over request for US legal documents
• Negative Sentiment: Recent trading showed Broadcom easing after a strong run, and some commentary warned that tech valuations are becoming crowded, which may be prompting profit-taking in the stock. Broadcom Inc. (AVGO) Dips More Than Broader Market: What You Should Know
• Negative Sentiment: Some holders also trimmed positions, including PRIMECAP Management and Cincinnati Specialty Underwriters, adding a modest overhang to sentiment. PRIMECAP Management Co trims Broadcom stake by 12,410 shares

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.