E Fund Management Hong Kong Co. Ltd. Increases Stock Position in Broadcom Inc. $AVGO

E Fund Management Hong Kong Co. Ltd. lifted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 26.0% during the 4th quarter, HoldingsChannel.com reports. The fund owned 12,415 shares of the semiconductor manufacturer’s stock after buying an additional 2,564 shares during the period. Broadcom makes up about 1.7% of E Fund Management Hong Kong Co. Ltd.’s portfolio, making the stock its 16th biggest holding. E Fund Management Hong Kong Co. Ltd.’s holdings in Broadcom were worth $4,111,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in shares of Broadcom by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 482,707,302 shares of the semiconductor manufacturer’s stock valued at $167,064,997,000 after acquiring an additional 3,919,715 shares in the last quarter. Invesco Ltd. increased its position in shares of 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 purchasing an additional 700,021 shares during the last quarter. Legal & General Group Plc increased its position in shares of 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 purchasing an additional 748,709 shares during the last quarter. Franklin Resources Inc. increased its position in shares of 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 purchasing an additional 1,124,590 shares during the last quarter. Finally, Amundi grew its position in shares of Broadcom by 3.3% during the 3rd quarter. Amundi now owns 22,216,816 shares of the semiconductor manufacturer’s stock valued at $7,453,320,000 after buying an additional 716,523 shares during the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom News Roundup

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

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on AVGO. Mizuho reaffirmed an “outperform” rating and set a $480.00 price objective on shares of Broadcom in a research report on Thursday, April 16th. Wolfe Research raised shares of Broadcom from a “peer perform” rating to an “outperform” rating and set a $400.00 price target for the company in a research note on Friday, January 30th. Evercore reaffirmed an “outperform” rating and issued a $582.00 price target on shares of Broadcom in a research note on Tuesday. TD Cowen reissued a “buy” rating and set a $500.00 target price (up from $405.00) on shares of Broadcom in a research note on Friday. Finally, Zacks Research raised shares of Broadcom from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, Broadcom has an average rating of “Moderate Buy” and a consensus target price of $448.10.

Insider Activity

In related news, CFO Kirsten M. Spears sold 36,292 shares of the company’s stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $321.60, for a total transaction of $11,671,507.20. Following the completion of the transaction, the chief financial officer directly owned 327,760 shares in the company, valued at $105,407,616. This represents a 9.97% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Mark David Brazeal sold 50,488 shares of the business’s stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $321.60, for a total transaction of $16,236,940.80. Following the transaction, the insider owned 278,141 shares in the company, valued at approximately $89,450,145.60. The trade was a 15.36% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 324,282 shares of company stock valued at $106,425,249. 1.90% of the stock is owned by corporate insiders.

Broadcom Stock Performance

AVGO stock opened at $411.07 on Wednesday. The company has a quick ratio of 1.73, a current ratio of 1.90 and a debt-to-equity ratio of 0.80. The company has a market capitalization of $1.95 trillion, a price-to-earnings ratio of 80.29, a P/E/G ratio of 0.87 and a beta of 1.43. Broadcom Inc. has a 12 month low of $226.18 and a 12 month high of $442.36. The firm has a 50 day moving average of $368.97 and a two-hundred day moving average of $355.08.

Broadcom (NASDAQ:AVGO) last posted its earnings results on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 EPS for the quarter, topping the consensus estimate 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%. The company’s revenue for the quarter was up 29.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.60 earnings per share. As a group, equities analysts anticipate that Broadcom Inc. will post 9.97 EPS for the current fiscal year.

Broadcom Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Monday, March 23rd were paid a $0.65 dividend. 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%.

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.