Broadcom Inc. $AVGO is Huntington National Bank’s 8th Largest Position

Huntington National Bank increased its position in Broadcom Inc. (NASDAQ:AVGO) by 0.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,166,194 shares of the semiconductor manufacturer’s stock after acquiring an additional 4,286 shares during the quarter. Broadcom comprises approximately 2.4% of Huntington National Bank’s holdings, making the stock its 8th biggest position. Huntington National Bank’s holdings in Broadcom were worth $403,620,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in Broadcom by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 482,707,302 shares of the semiconductor manufacturer’s stock worth $167,064,997,000 after acquiring an additional 3,919,715 shares in the last quarter. Geode Capital Management LLC increased its holdings in Broadcom by 1.4% in the 4th quarter. Geode Capital Management LLC now owns 111,277,280 shares of the semiconductor manufacturer’s stock worth $38,396,634,000 after acquiring an additional 1,548,699 shares in the last quarter. Invesco Ltd. increased its holdings in Broadcom by 1.8% in the 3rd quarter. Invesco Ltd. now owns 39,149,651 shares of the semiconductor manufacturer’s stock worth $12,915,861,000 after acquiring an additional 700,021 shares in the last quarter. Legal & General Group Plc increased its holdings in Broadcom by 2.3% in the 3rd quarter. Legal & General Group Plc now owns 33,450,786 shares of the semiconductor manufacturer’s stock worth $11,035,749,000 after acquiring an additional 748,709 shares in the last quarter. Finally, Franklin Resources Inc. increased its holdings in Broadcom by 4.0% in the 3rd quarter. Franklin Resources Inc. now owns 29,511,195 shares of the semiconductor manufacturer’s stock worth $9,736,038,000 after acquiring an additional 1,124,590 shares in the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

AVGO has been the subject of several analyst reports. Rosenblatt Securities reissued a “buy” rating and issued a $500.00 target price on shares of Broadcom in a report on Tuesday, April 7th. Seaport Research Partners reissued a “neutral” rating on shares of Broadcom in a report on Wednesday, April 8th. Morgan Stanley increased their price objective on shares of Broadcom from $470.00 to $485.00 and gave the company an “overweight” rating in a report on Monday. Royal Bank Of Canada cut their price objective on shares of Broadcom from $370.00 to $340.00 and set a “sector perform” rating for the company in a report on Monday, March 2nd. Finally, Erste Group Bank lowered shares of Broadcom from a “buy” rating to a “hold” rating in a report on Thursday, April 2nd. One investment analyst has rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, Broadcom has a consensus rating of “Moderate Buy” and a consensus price target of $455.07.

Broadcom News Summary

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom unveiled new broadband and Wi‑Fi 8 connectivity innovations with an embedded NPU, reinforcing its AI-at-the-edge growth story and expanding its product pipeline. Article link
• Positive Sentiment: Morgan Stanley raised its price target on Broadcom to $485 and kept an overweight rating, signaling continued analyst confidence ahead of earnings.
• Positive Sentiment: Broadcom is attracting bullish investor attention as traders bet on strong AI-chip demand and a potential breakout after earnings, with several articles calling it a top stock to watch. Article link
• Positive Sentiment: Broadcom is being highlighted by market commentators and bullish research as an AI leader and a long-term growth stock, which is helping sentiment into the earnings print.
• Neutral Sentiment: Some coverage notes that expectations are very high, with the stock trading at a premium valuation, so the upcoming earnings report will need to be strong to justify the move. Article link
• Neutral Sentiment: Traders are expecting a large post-earnings swing, which reflects uncertainty as much as optimism.
• Negative Sentiment: Bearish commentary from one market watcher suggests some investors are hedging ahead of the report, reflecting concern that the stock’s elevated valuation leaves little room for disappointment. Article link

Broadcom Trading Up 3.0%

Shares of AVGO opened at $459.97 on Tuesday. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.90 and a quick ratio of 1.73. The firm has a market cap of $2.18 trillion, a P/E ratio of 89.84, a price-to-earnings-growth ratio of 0.92 and a beta of 1.41. Broadcom Inc. has a 1 year low of $241.11 and a 1 year high of $466.05. The company has a 50 day simple moving average of $386.31 and a two-hundred day simple moving average of $359.32.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results 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. The company had revenue of $19.31 billion for the quarter, compared to analysts’ expectations 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 previous year, the business posted $1.60 earnings per share. On average, equities analysts expect that Broadcom Inc. will post 9.91 earnings per share for the current fiscal year.

Insider Activity at Broadcom

In related news, Director Gayla J. Delly sold 1,000 shares of the company’s stock in a transaction on Thursday, April 9th. The shares were sold at an average price of $358.31, for a total transaction of $358,310.00. Following the sale, the director owned 32,352 shares of the company’s stock, valued at $11,592,045.12. This represents a 3.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Charlie B. Kawwas sold 10,000 shares of the company’s stock in a transaction on Wednesday, April 8th. The shares were sold at an average price of $345.23, for a total transaction of $3,452,300.00. Following the sale, the insider directly owned 787,184 shares in the company, valued at approximately $271,759,532.32. The trade was a 1.25% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 324,282 shares of company stock valued at $106,425,249 over the last quarter. 1.90% of the stock is currently owned by insiders.

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.