Allworth Financial LP Grows Stock Holdings in Broadcom Inc. $AVGO

Allworth Financial LP grew its position in Broadcom Inc. (NASDAQ:AVGO) by 22.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 441,839 shares of the semiconductor manufacturer’s stock after buying an additional 82,263 shares during the period. Broadcom accounts for about 0.6% of Allworth Financial LP’s portfolio, making the stock its 22nd largest position. Allworth Financial LP’s holdings in Broadcom were worth $152,920,000 at the end of the most recent reporting period.

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

Broadcom Stock Performance

AVGO opened at $411.07 on Wednesday. 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 fifty day moving average price of $368.97 and a 200 day moving average price of $355.08. Broadcom Inc. has a 1 year low of $226.18 and a 1 year high of $442.36. The stock has a market cap of $1.95 trillion, a P/E ratio of 80.29, a P/E/G ratio of 0.87 and a beta of 1.43.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings results on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 EPS for the quarter, beating the consensus estimate of $2.03 by $0.02. Broadcom had a net margin of 36.57% and a return on equity of 38.61%. The company had revenue of $19.31 billion for the quarter, compared to analyst estimates of $19.10 billion. During the same quarter last year, the business earned $1.60 earnings per share. The firm’s revenue was up 29.5% on a year-over-year basis. Equities research analysts anticipate that Broadcom Inc. will post 9.97 earnings per share for the current year.

Broadcom Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders 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 dividend yield of 0.6%. Broadcom’s dividend payout ratio (DPR) is 50.78%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Truist Financial upped their target price on Broadcom from $510.00 to $545.00 and gave the company a “buy” rating in a research report on Thursday, March 5th. UBS Group restated a “buy” rating and issued a $490.00 price objective (up from $475.00) on shares of Broadcom in a research note on Monday. Seaport Research Partners reaffirmed a “neutral” rating on shares of Broadcom in a report on Wednesday, April 8th. Mizuho restated an “outperform” rating and set a $480.00 price objective on shares of Broadcom in a research note on Thursday, April 16th. Finally, DA Davidson raised shares of Broadcom to a “hold” rating in a report on Friday, February 13th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $448.10.

Insiders Place Their Bets

In related news, insider Charlie B. Kawwas sold 39,116 shares of the company’s stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $321.61, for a total value of $12,580,096.76. Following the completion of the transaction, the insider owned 74,626 shares of the company’s stock, valued at approximately $24,000,467.86. This represents a 34.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Kirsten M. Spears sold 36,292 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer owned 327,760 shares in the company, valued at $105,407,616. This represents a 9.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 324,282 shares of company stock worth $106,425,249 in the last 90 days. 1.90% of the stock is currently owned by company insiders.

Key Stories Impacting Broadcom

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 Company 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.