SVB Wealth LLC reduced its position in shares of Broadcom Inc. (NASDAQ:AVGO – Free Report) by 31.5% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 174,967 shares of the semiconductor manufacturer’s stock after selling 80,538 shares during the period. Broadcom comprises 3.6% of SVB Wealth LLC’s portfolio, making the stock its 4th biggest holding. SVB Wealth LLC’s holdings in Broadcom were worth $60,556,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of AVGO. JCIC Asset Management Inc. purchased a new stake in Broadcom during the 3rd quarter worth approximately $31,000. Miller Global Investments LLC purchased a new stake in Broadcom during the 4th quarter worth approximately $31,000. Nvest Wealth Strategies Inc. purchased a new stake in shares of Broadcom in the fourth quarter valued at approximately $33,000. Manning & Napier Advisors LLC purchased a new stake in shares of Broadcom in the third quarter valued at approximately $34,000. Finally, Family CFO Inc purchased a new stake in shares of Broadcom in the fourth quarter valued at approximately $35,000. 76.43% of the stock is currently owned by hedge funds and other institutional investors.
Broadcom Trading Down 3.3%
AVGO opened at $425.19 on Friday. Broadcom Inc. has a one year low of $221.60 and a one year high of $442.36. The stock has a market capitalization of $2.01 trillion, a PE ratio of 83.05, a P/E/G ratio of 0.88 and a beta of 1.43. The business’s 50 day moving average price is $365.61 and its 200 day moving average price is $354.62. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.73 and a current ratio of 1.90.
Broadcom Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Monday, March 23rd were issued a $0.65 dividend. 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 is currently 50.78%.
Key Stories Impacting Broadcom
Here are the key news stories impacting Broadcom this week:
- Positive Sentiment: Broadcom remains a favored way to play AI infrastructure, with multiple recent articles highlighting its growing exposure to custom AI silicon, data-center networking, and AI semiconductor revenue. Citi also raised its price target to $500, reinforcing optimism ahead of the next earnings report.
- Positive Sentiment: Wells Fargo lifted its price target to $545 and said AI semiconductor revenue is running 30% to 40% above expectations, suggesting Broadcom may still be benefiting from stronger-than-expected hyperscaler spending.
- Positive Sentiment: Recent investor interest has also been supportive, with hedge fund and prominent manager buying cited in several notes, alongside Broadcom being named among top tech stocks to own as AI optimism continues to drive the market.
- Neutral Sentiment: Broadcom was also mentioned in a broader AI rotation piece that argues the next leg of the rally may be in AI bottlenecks such as optics, networking, and memory rather than only the most obvious chip winners. Broadcom was specifically named as one of the companies positioned to benefit from optical interconnect demand.
- Negative Sentiment: UBS warned that AI stocks, including Broadcom, are increasingly crowded trades, raising the risk of a pullback if enthusiasm cools or if investors rotate out of mega-cap semiconductors.
- Negative Sentiment: Some commentary also suggests the AI chip rally may be masking broader market weakness, which can make even strong names like Broadcom vulnerable to profit-taking after a powerful advance.
Insiders Place Their Bets
In related news, insider Mark David Brazeal sold 50,488 shares of the company’s stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $321.60, for a total value of $16,236,940.80. Following the transaction, the insider directly owned 278,141 shares in the company, valued at approximately $89,450,145.60. This represents a 15.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Kirsten M. Spears sold 36,292 shares of the company’s stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $321.60, for a total value of $11,671,507.20. Following the completion of the transaction, the chief financial officer owned 327,760 shares in the company, valued at $105,407,616. This represents a 9.97% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 324,282 shares of company stock valued at $106,425,249. Insiders own 1.90% of the company’s stock.
Wall Street Analyst Weigh In
A number of research firms have recently issued reports on AVGO. Zacks Research upgraded Broadcom from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 2nd. Mizuho restated an “outperform” rating and issued a $480.00 price target on shares of Broadcom in a research report on Thursday, April 16th. Royal Bank Of Canada dropped their price target on Broadcom from $370.00 to $340.00 and set a “sector perform” rating for the company in a research report on Monday, March 2nd. Citigroup restated a “buy” rating and issued a $500.00 price target (up from $475.00) on shares of Broadcom in a research report on Tuesday. Finally, DA Davidson upgraded Broadcom to a “hold” rating in a research report on Friday, February 13th. Two research analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $441.63.
Get Our Latest Analysis on Broadcom
Broadcom Company Profile
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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