Vestcor Inc Purchases 5,929 Shares of Broadcom Inc. $AVGO

Vestcor Inc lifted its position in Broadcom Inc. (NASDAQ:AVGO) by 5.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 123,265 shares of the semiconductor manufacturer’s stock after purchasing an additional 5,929 shares during the quarter. Broadcom accounts for approximately 1.2% of Vestcor Inc’s holdings, making the stock its 7th biggest holding. Vestcor Inc’s holdings in Broadcom were worth $42,662,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of 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 lifted its position in shares of Broadcom by 1.4% during the fourth quarter. Geode Capital Management LLC now owns 111,277,280 shares of the semiconductor manufacturer’s stock worth $38,396,634,000 after purchasing an additional 1,548,699 shares in the last quarter. Norges Bank acquired a new position in shares of Broadcom during the fourth quarter worth approximately $24,252,196,000. Invesco Ltd. grew its stake in shares of Broadcom by 1.8% during the third quarter. Invesco Ltd. now owns 39,149,651 shares of the semiconductor manufacturer’s stock valued at $12,915,861,000 after purchasing an additional 700,021 shares during the last quarter. Finally, Legal & General Group Plc increased its holdings in shares of Broadcom by 2.3% in the third quarter. Legal & General Group Plc now owns 33,450,786 shares of the semiconductor manufacturer’s stock valued at $11,035,749,000 after purchasing an additional 748,709 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Key Broadcom News

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom’s AI franchise remains a key support for the bull case, with fresh coverage highlighting its $35 billion AI infrastructure push and the new Apollo/Blackstone-backed platform tied to Anthropic’s expansion. Reuters article
• Positive Sentiment: Analyst sentiment remains constructive, with JPMorgan reportedly raising its price target and other firms reiterating buy ratings, arguing the recent selloff may have been overdone relative to Broadcom’s earnings growth and cash flow strength. TheStreet article
• Positive Sentiment: Broadcom’s latest quarterly results and guidance were described as solid, with commentary noting strong AI-driven revenue growth and continued EPS beats, which supports the long-term investment case despite the pullback. Yahoo Finance article
• Positive Sentiment: Multiple articles argued the post-earnings drop created a buying opportunity, with bullish takes emphasizing Broadcom’s free cash flow, margin profile, and AI exposure. Seeking Alpha article
• Neutral Sentiment: Broadcom continues to attract investor attention and remains widely followed by analysts, but some coverage is largely commentary rather than a new company-specific catalyst. Zacks article
• Negative Sentiment: Investors appear concerned that Broadcom’s CEO comments and strategic pivot may be making some AI backers uneasy, adding to worries that expectations for the company’s AI growth could be too high. Yahoo Finance article
• Negative Sentiment: Broader semiconductor weakness and a rotation out of high-growth tech have also pressured AVGO, with several headlines pointing to a sector-wide correction and rising short interest in chip names. CNBC article

Insider Buying and Selling at Broadcom

In related news, insider S. Ram Velaga sold 8,000 shares of the firm’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 of the company’s stock, valued at approximately $21,464,964.64. This trade represents a 12.13% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Justine Page sold 2,018 shares of the business’s stock in a transaction dated Wednesday, April 8th. The shares were sold at an average price of $353.00, for a total value of $712,354.00. Following the completion of the transaction, the director directly owned 18,164 shares of the company’s stock, valued at approximately $6,411,892. The trade was a 10.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 324,282 shares of company stock worth $106,425,249 in the last three months. 1.90% of the stock is owned by insiders.

Broadcom Stock Down 1.1%

Broadcom stock opened at $392.16 on Wednesday. The company’s 50 day simple moving average is $399.79 and its 200 day simple moving average is $362.70. Broadcom Inc. has a fifty-two week low of $241.40 and a fifty-two week high of $495.00. The firm has a market capitalization of $1.86 trillion, a price-to-earnings ratio of 65.36, a PEG ratio of 0.72 and a beta of 1.41. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.24 and a quick ratio of 2.01.

Broadcom (NASDAQ:AVGO) last issued its earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 EPS for the quarter, beating the consensus estimate of $2.40 by $0.04. The firm had revenue of $22.19 billion during the quarter, compared to the consensus estimate of $22.13 billion. Broadcom had a net margin of 38.85% and a return on equity of 41.61%. The business’s quarterly revenue was up 47.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.58 earnings per share. As a group, sell-side analysts anticipate that Broadcom Inc. will post 9.96 EPS for the current year.

Broadcom Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 22nd will be given a $0.65 dividend. The ex-dividend date is Monday, June 22nd. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.7%. Broadcom’s dividend payout ratio is currently 43.33%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Jefferies Financial Group set a $550.00 price objective on Broadcom and gave the stock a “buy” rating in a report on Thursday, June 4th. Wall Street Zen upgraded Broadcom from a “hold” rating to a “buy” rating in a research report on Sunday. Bank of America upped their price target on Broadcom from $450.00 to $530.00 and gave the company a “buy” rating in a research note on Thursday, June 4th. DA Davidson raised their price target on Broadcom from $375.00 to $400.00 and gave the company a “neutral” rating in a report on Thursday, June 4th. Finally, Weiss Ratings upgraded Broadcom from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, May 27th. One investment analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, Broadcom has a consensus rating of “Moderate Buy” and a consensus price target of $490.13.

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.