S Bank Fund Management Ltd reduced its stake in shares of Broadcom Inc. (NASDAQ:AVGO – Free Report) by 12.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 59,557 shares of the semiconductor manufacturer’s stock after selling 8,599 shares during the period. Broadcom accounts for approximately 2.7% of S Bank Fund Management Ltd’s portfolio, making the stock its 8th biggest holding. S Bank Fund Management Ltd’s holdings in Broadcom were worth $20,613,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Miller Global Investments LLC acquired a new stake in shares of Broadcom in the fourth quarter valued at about $31,000. JCIC Asset Management Inc. acquired a new stake in shares of Broadcom in the third quarter valued at about $31,000. Nvest Wealth Strategies Inc. acquired a new stake in shares of Broadcom in the fourth quarter valued at about $33,000. Family CFO Inc acquired a new stake in shares of Broadcom in the fourth quarter valued at about $35,000. Finally, Manning & Napier Advisors LLC acquired a new stake in shares of Broadcom in the third quarter valued at about $34,000. 76.43% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several brokerages have recently issued reports on AVGO. Royal Bank Of Canada lowered their price target on Broadcom from $370.00 to $340.00 and set a “sector perform” rating on the stock in a research report on Monday, March 2nd. JPMorgan Chase & Co. raised their price target on Broadcom from $475.00 to $500.00 and gave the company an “overweight” rating in a research report on Thursday, March 5th. Morgan Stanley raised their price target on Broadcom from $462.00 to $470.00 and gave the company an “overweight” rating in a research report on Friday, March 6th. Wells Fargo & Company raised Broadcom from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $410.00 to $430.00 in a research report on Thursday, January 15th. Finally, Zacks Research raised Broadcom from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 2nd. Two 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 company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $436.13.
Broadcom Stock Down 2.1%
AVGO stock opened at $419.30 on Wednesday. Broadcom Inc. has a twelve month low of $221.60 and a twelve month high of $437.68. The company has a market cap of $1.99 trillion, a PE ratio of 81.89, a price-to-earnings-growth ratio of 0.89 and a beta of 1.43. The business’s 50-day simple moving average is $358.98 and its 200 day simple moving average is $353.01. The company has a quick ratio of 1.73, a current ratio of 1.90 and a debt-to-equity ratio of 0.80.
Broadcom (NASDAQ:AVGO – Get Free Report) last released its earnings results on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 earnings per share for the quarter, topping analysts’ consensus estimates of $2.03 by $0.02. Broadcom had a return on equity of 38.61% and a net margin of 36.57%.The business had revenue of $19.31 billion for the quarter, compared to the consensus estimate of $19.10 billion. During the same period last year, the business earned $1.60 earnings per share. The firm’s revenue for the quarter was up 29.5% compared to the same quarter last year. On average, research analysts anticipate that Broadcom Inc. will post 9.95 earnings per share for the current year.
Broadcom Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Monday, March 23rd were paid a dividend of $0.65 per share. 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 currently 50.78%.
Insider Buying and Selling at Broadcom
In other Broadcom news, insider Charlie B. Kawwas sold 39,116 shares of the firm’s stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $321.61, for a total transaction of $12,580,096.76. Following the completion of the transaction, the insider owned 74,626 shares in the company, valued at $24,000,467.86. This trade represents a 34.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Kirsten M. Spears sold 36,292 shares of the firm’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 $11,671,507.20. Following the transaction, the chief financial officer owned 327,760 shares of the company’s stock, valued at approximately $105,407,616. This represents a 9.97% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 324,282 shares of company stock worth $106,425,249 in the last three months. 1.90% of the stock is currently owned by company insiders.
Key Headlines Impacting Broadcom
Here are the key news stories impacting Broadcom this week:
- Positive Sentiment: Citi raised its price target on Broadcom to $500 from $475 and kept a Buy rating, citing strong AI demand and expectations for another strong quarter. Citi Raises Broadcom Price Target to $500: AI Demand Sets Up Another Big April Quarter
- Positive Sentiment: Other Wall Street coverage also pointed to continued upside for Broadcom, reflecting optimism around its AI infrastructure exposure and earnings outlook. Wall Street sets Broadcom (AVGO) stock price for the next 12 months
- Positive Sentiment: Zacks highlighted Broadcom’s strong earnings-surprise history and said the company appears well-positioned to beat estimates again in its next report. Will Broadcom Inc. (AVGO) Beat Estimates Again in Its Next Earnings Report?
- Neutral Sentiment: Broadcom’s latest stock move also appears tied to a recent run-up, with one article saying investors were taking profits after a large AI-driven rally rather than reacting to a fundamental deterioration. Why analysts are bullish on Broadcom stock despite a 4% fall today?
- Neutral Sentiment: Several hedge-fund and institutional filings showed mixed activity in Broadcom, with some firms trimming holdings while Mirova US LLC added shares; these moves are notable but not necessarily a direct signal on the company’s fundamentals. PRIMECAP Management Co trims Broadcom stake by 12,410 shares Cincinnati Specialty Underwriters slashes Broadcom stake by 207K shares Mirova US LLC Boosts Broadcom Stake by 183,850 Shares
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.
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