Broadcom Inc. $AVGO Shares Bought by Reynders McVeigh Capital Management LLC

Reynders McVeigh Capital Management LLC grew its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 45.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 87,749 shares of the semiconductor manufacturer’s stock after purchasing an additional 27,521 shares during the quarter. Broadcom makes up about 1.4% of Reynders McVeigh Capital Management LLC’s holdings, making the stock its 23rd biggest position. Reynders McVeigh Capital Management LLC’s holdings in Broadcom were worth $30,370,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AVGO. Arrowstreet Capital Limited Partnership raised its holdings in Broadcom by 499.4% during the third quarter. Arrowstreet Capital Limited Partnership now owns 5,634,232 shares of the semiconductor manufacturer’s stock worth $1,858,789,000 after purchasing an additional 4,694,313 shares in the last quarter. Vanguard Group Inc. raised its holdings in Broadcom by 0.8% during 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 raised its holdings in Broadcom by 47.5% during 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 purchased a new position in shares of Broadcom during the third quarter worth approximately $987,488,000. Finally, PFA Pension Forsikringsaktieselskab purchased a new position in shares of Broadcom during the fourth quarter worth approximately $924,858,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on AVGO shares. Bank of America lowered their target price on shares of Broadcom from $500.00 to $450.00 and set a “buy” rating on the stock in a research report on Thursday, March 5th. Rosenblatt Securities restated a “buy” rating and set a $500.00 target price on shares of Broadcom in a research report on Tuesday, April 7th. Wells Fargo & Company upgraded shares of Broadcom from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $410.00 to $430.00 in a research report on Thursday, January 15th. Truist Financial raised their target price on shares of Broadcom from $510.00 to $545.00 and gave the stock a “buy” rating in a research report on Thursday, March 5th. Finally, Zacks Research upgraded shares of Broadcom from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 2nd. 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’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $435.30.

Insider Activity at Broadcom

In other Broadcom news, insider Charlie B. Kawwas sold 10,000 shares of the business’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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider S. Ram Velaga sold 8,000 shares of the business’s stock in a transaction on Friday, April 10th. The stock was sold at an average price of $370.52, for a total transaction of $2,964,160.00. Following the sale, the insider owned 57,932 shares in the company, valued at $21,464,964.64. The trade was a 12.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 324,282 shares of company stock worth $106,425,249. 1.90% of the stock is currently owned by insiders.

Trending Headlines about Broadcom

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

Broadcom Stock Performance

NASDAQ:AVGO opened at $430.00 on Monday. The firm’s fifty day moving average price is $352.89 and its 200 day moving average price is $351.28. Broadcom Inc. has a 1-year low of $206.52 and a 1-year high of $437.68. 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 $2.04 trillion, a price-to-earnings ratio of 83.98, a price-to-earnings-growth ratio of 0.89 and a beta of 1.43.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 earnings per share for the quarter, beating analysts’ consensus estimates of $2.03 by $0.02. Broadcom had a net margin of 36.57% and a return on equity of 38.61%. The firm had revenue of $19.31 billion for the quarter, compared to analyst estimates of $19.10 billion. During the same period last year, the firm posted $1.60 EPS. Broadcom’s quarterly revenue was up 29.5% on a year-over-year basis. On average, sell-side analysts expect that Broadcom Inc. will post 9.95 EPS for the current year.

Broadcom Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders 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 payout ratio is presently 50.78%.

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.