Alliancebernstein L.P. Increases Holdings in Broadcom Inc. $AVGO

Alliancebernstein L.P. raised its position in Broadcom Inc. (NASDAQ:AVGO) by 16.0% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 29,513,814 shares of the semiconductor manufacturer’s stock after buying an additional 4,077,910 shares during the period. Broadcom comprises approximately 1.8% of Alliancebernstein L.P.’s holdings, making the stock its 8th largest holding. Alliancebernstein L.P. owned about 0.63% of Broadcom worth $4,941,498,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the company. AQR Capital Management LLC boosted its position in shares of Broadcom by 20.1% in the 1st quarter. AQR Capital Management LLC now owns 3,421,858 shares of the semiconductor manufacturer’s stock worth $556,360,000 after purchasing an additional 573,027 shares during the last quarter. Appaloosa LP bought a new position in shares of Broadcom in the 1st quarter worth $21,766,000. JAT Capital Mgmt LP bought a new position in shares of Broadcom in the 1st quarter worth $8,958,000. Paragon Private Wealth Management LLC boosted its position in shares of Broadcom by 21.4% in the 1st quarter. Paragon Private Wealth Management LLC now owns 11,357 shares of the semiconductor manufacturer’s stock worth $1,902,000 after purchasing an additional 2,004 shares during the last quarter. Finally, Federation des caisses Desjardins du Quebec boosted its position in shares of Broadcom by 0.5% in the 1st quarter. Federation des caisses Desjardins du Quebec now owns 431,993 shares of the semiconductor manufacturer’s stock worth $72,335,000 after purchasing an additional 2,151 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently issued reports on AVGO shares. Truist Financial set a $295.00 price target on Broadcom and gave the stock a “buy” rating in a research report on Friday, June 6th. Wells Fargo & Company lifted their target price on Broadcom from $230.00 to $255.00 and gave the stock an “equal weight” rating in a report on Friday, June 6th. Oppenheimer reiterated an “outperform” rating and set a $325.00 target price (up from $305.00) on shares of Broadcom in a report on Thursday, August 28th. Arete Research upgraded Broadcom to a “strong-buy” rating in a report on Monday, July 28th. Finally, KeyCorp lifted their target price on Broadcom from $315.00 to $330.00 and gave the stock an “overweight” rating in a report on Tuesday, July 8th. Three analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, Broadcom currently has a consensus rating of “Buy” and a consensus price target of $302.58.

Insider Buying and Selling at Broadcom

In other news, insider Mark David Brazeal sold 50,000 shares of the company’s stock in a transaction on Monday, June 23rd. The shares were sold at an average price of $253.28, for a total transaction of $12,664,000.00. Following the completion of the transaction, the insider directly owned 415,956 shares in the company, valued at approximately $105,353,335.68. This represents a 10.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Charlie B. Kawwas sold 10,000 shares of the company’s stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $252.88, for a total transaction of $2,528,800.00. Following the transaction, the insider owned 789,784 shares of the company’s stock, valued at $199,720,577.92. This trade represents a 1.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 830,516 shares of company stock valued at $217,286,457. 2.00% of the stock is currently owned by insiders.

Broadcom Price Performance

NASDAQ:AVGO opened at $298.24 on Wednesday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.98 and a current ratio of 1.08. The stock’s 50-day simple moving average is $289.30 and its 200 day simple moving average is $235.55. The company has a market cap of $1.40 trillion, a P/E ratio of 111.70, a P/E/G ratio of 2.11 and a beta of 1.16. Broadcom Inc. has a 52-week low of $134.90 and a 52-week high of $317.35.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share for the quarter, topping analysts’ consensus estimates of $1.57 by $0.01. Broadcom had a return on equity of 35.49% and a net margin of 22.64%.The firm had revenue of $15 billion for the quarter, compared to the consensus estimate of $14.98 billion. During the same quarter in the previous year, the business earned $10.96 earnings per share. The business’s revenue was up 20.2% compared to the same quarter last year. Broadcom has set its Q3 2025 guidance at EPS. As a group, sell-side analysts forecast that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Profile

Broadcom Inc designs, develops, and supplies various semiconductor devices with a focus on complex digital and mixed signal complementary metal oxide semiconductor based devices and analog III-V based products worldwide. The company operates in two segments, Semiconductor Solutions and Infrastructure Software.