5 Stocks US Politicians Bought Before Russia’s Attack on Ukraine

3. Broadcom Inc. (NASDAQ:AVGO)

Number of Hedge Fund Holders: 62

Broadcom Inc. (NASDAQ:AVGO) is a California-based supplier of semiconductors and relevant infrastructure to global markets. Ro Khanna, the U.S. representative from California’s 17th congressional district, purchased shares of Broadcom Inc. (NASDAQ:AVGO) on February 1. The transaction, disclosed on March 3, was worth between $1,001 and $15,000. 

Broadcom Inc. (NASDAQ:AVGO) reported Q4 results on March 3, posting an EPS of $8.39, topping market estimates by $0.24. The fourth quarter revenue jumped 15.79% year-over-year to $7.71 billion, above consensus by $99.60 million. 

On March 3, Broadcom Inc. (NASDAQ:AVGO) declared a $4.10 per share quarterly dividend. It is payable on March 31, to shareholders of record on March 22. 

Truist analyst William Stein raised the price target on Broadcom Inc. (NASDAQ:AVGO) to $686 from $659 and kept a Buy rating on the shares on March 4. The analyst noted that Broadcom Inc. (NASDAQ:AVGO) delivered another beat in the fourth quarter and in the near-term, sales growth is re-accelerating to 20%, offering “even more confidence”. 

According to the Q4 database of Insider Monkey, 62 funds were bullish on Broadcom Inc. (NASDAQ:AVGO), up from 50 funds in the prior quarter. Amid the movement of elite funds in Broadcom Inc. (NASDAQ:AVGO), a significant shareholder of the company was Cantillon Capital Management, with more than 1 million shares worth $669.40 million. 

Here is what Richie Capital Group has to say about Broadcom Inc. (NASDAQ:AVGO) in its Q4 2021 investor letter:

“Broadcom (AVGO – up 36.5%) – The semiconductor device manufacturer reported an outstanding Fiscal Q4. Results (and guidance) exceeded Wall Street analyst expectations, and the company raised its dividend by 14% and announced a new stock-repurchase program. Semiconductor related revenue grew 17% while software revenue grew 8%. On the negative side, it was rumored that Apple, their largest customer, is making plans to develop their own wireless chips. This would be a blow to Broadcom. However, AVGO has a $15 billion contract with Apple that is good through 2023 and includes radio frequency parts such as amplifiers, filters and switches.”