Broadcom (AVGO)

• Market cap: $1.02T
• 1 day: -3.56%
• 5 days: -6.77%
• 1 month: -9.01%
• 3 months: 33.38%
• 6 months: 31.90%
• Year to date: -5.74%
• 1 year: 78.13%
• 5 years: 618.10%
• 10 years: 1,836.76%
• Sector: Information Technology
• Industry: Semiconductors & Related Devices

About: Broadcom is the sixth-largest semiconductor company globally and has expanded into various software businesses, with over $30 billion in annual revenue. It sells 17 core semiconductor product lines across wireless, networking, broadband, storage, and industrial markets. It is primarily a fabless designer but holds some manufacturing in-house, like for its best-of-breed FBAR filters that sell into the Apple iPhone. In software, it sells virtualization, infrastructure, and security software to large enterprises, financial institutions, and governments.Broadcom is the product of consolidation. Its businesses are an amalgamation of former companies like legacy Broadcom and Avago Technologies in chips, as well as Brocade, CA Technologies, and Symantec in software.

Employees: 37,000

Fund manager confidence

Based on 2024 Q4 regulatory filings by fund managers ($100M+ AUM)

417% more first-time investments, than exits

New positions opened: 553 | Existing positions closed: 107

45% more funds holding in top 10

Funds holding in top 10: 542 [Q3] → 786 (+244) [Q4]

38% more capital invested

Capital invested by funds: $605B [Q3] → $835B (+$230B) [Q4]

8% more funds holding

Funds holding: 3,358 [Q3] → 3,638 (+280) [Q4]

3% more repeat investments, than reductions

Existing positions increased: 1,436 | Existing positions reduced: 1,391

0.28% more ownership

Funds ownership: 75.33% [Q3] → 75.6% (+0.28%) [Q4]

13% less call options, than puts

Call options by funds: $22.1B | Put options by funds: $25.3B

Research analyst outlook

16 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $210 4% downside
• Avg. target: $242 11% upside
• High target: $260 19% upside

16 analyst ratings

• positive: 16 100%
• neutral: 0 0%
• negative: 0 0%

Morgan Stanley Joseph Moore 72% 1-year accuracy 43 / 60 met price target	13% upside $246	Overweight Maintained	28 Jan 2025
Barclays Tom O'Malley 53% 1-year accuracy 23 / 43 met price target	19% upside $260	Overweight Maintained	17 Jan 2025
Mizuho Vijay Rakesh 46% 1-year accuracy 31 / 67 met price target	19% upside $260	Outperform Maintained	10 Jan 2025
JP Morgan Harlan Sur 48% 1-year accuracy 16 / 33 met price target	14% upside $250	Overweight Maintained	13 Dec 2024
Jefferies Blayne Curtis 63% 1-year accuracy 32 / 51 met price target	3% upside $225	Buy Maintained	13 Dec 2024