Addenda Capital Inc. Sells 21,156 Shares of Broadcom Inc. $AVGO

Key Points

• Addenda Capital trimmed its Broadcom stake by 11.2% in Q4, selling 21,156 shares and ending the period with 167,800 shares worth about $58.08M, making Broadcom ~2.1% of its portfolio (14th-largest holding).
• Broadcom topped Q1 estimates (EPS $2.05 vs $2.03; revenue $19.31B, +29.5% YoY) and has landed multi‑year AI deals with Meta, Google and Anthropic, driving analyst upgrades and a consensus price target near $435.
• Insider selling has been heavy—324,282 shares (~$106.4M) sold in the past three months—which may pressure near‑term sentiment despite ~76% institutional ownership and a $1.8T market cap.

Addenda Capital Inc. cut its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 11.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 167,800 shares of the semiconductor manufacturer's stock after selling 21,156 shares during the quarter. Broadcom accounts for about 2.1% of Addenda Capital Inc.'s portfolio, making the stock its 14th biggest holding. Addenda Capital Inc.'s holdings in Broadcom were worth $58,076,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. JCIC Asset Management Inc. bought a new position in shares of Broadcom in the 3rd quarter valued at about $31,000. Miller Global Investments LLC bought a new position in shares of Broadcom in the 4th quarter valued at about $31,000. Manning & Napier Advisors LLC bought a new position in shares of Broadcom in the 3rd quarter valued at about $34,000. Evolution Wealth Management Inc. bought a new position in shares of Broadcom in the 2nd quarter valued at about $36,000. Finally, Navigoe LLC grew its position in shares of Broadcom by 515.0% in the 3rd quarter. Navigoe LLC now owns 123 shares of the semiconductor manufacturer's stock valued at $40,000 after acquiring an additional 103 shares during the period. 76.43% of the stock is currently owned by institutional investors.

Broadcom Trading Up 0.2%

AVGO stock opened at $380.50 on Wednesday. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.90 and a quick ratio of 1.73. The company has a fifty day moving average price of $328.36 and a two-hundred day moving average price of $343.78. Broadcom Inc. has a one year low of $161.61 and a one year high of $414.61. The stock has a market cap of $1.80 trillion, a price-to-earnings ratio of 74.32, a price-to-earnings-growth ratio of 0.79 and a beta of 1.24.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its quarterly earnings data on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 EPS for the quarter, topping analysts' consensus estimates of $2.03 by $0.02. The firm had revenue of $19.31 billion during the quarter, compared to analysts' expectations of $19.10 billion. Broadcom had a net margin of 36.57% and a return on equity of 38.61%. The company's revenue for the quarter was up 29.5% compared to the same quarter last year. During the same period in the previous year, the business posted $1.60 earnings per share. Equities analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Monday, March 23rd were paid a $0.65 dividend. The ex-dividend date was Monday, March 23rd. This represents a $2.60 annualized dividend and a yield of 0.7%. Broadcom's payout ratio is 50.78%.

Wall Street Analysts Forecast Growth

AVGO has been the subject of a number of analyst reports. Benchmark reissued a "buy" rating and issued a $485.00 price objective on shares of Broadcom in a research report on Thursday, March 5th. Mizuho set a $480.00 price target on Broadcom and gave the stock an "outperform" rating in a report on Friday, January 9th. JPMorgan Chase & Co. lifted their price target on Broadcom from $475.00 to $500.00 and gave the stock an "overweight" rating in a report on Thursday, March 5th. Morgan Stanley lifted their price target on Broadcom from $462.00 to $470.00 and gave the stock an "overweight" rating in a report on Friday, March 6th. Finally, Zacks Research upgraded Broadcom from a "hold" rating to a "strong-buy" rating in a report on Thursday, April 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Broadcom has an average rating of "Moderate Buy" and a consensus price target of $435.30.

More Broadcom News

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Landmark multi-year agreement with Meta (multi‑generation through 2029) commits an initial >1GW of MTIA custom silicon and pairs Broadcom’s XPU and Ethernet networking to scale multi‑gigawatt AI clusters — this materially increases long‑term AI revenue visibility. Broadcom Announces Extended Partnership with Meta (GlobeNewswire)
• Positive Sentiment: Deals with Google and Anthropic broaden major‑customer exposure beyond hyperscalers and suggest sustained demand for Broadcom’s custom AI infrastructure over several generations. Google and Anthropic deal strengthen Broadcom (MSN)
• Positive Sentiment: Macro tailwind for AI hardware: analysts and commentators highlight Broadcom’s strong Q1 results and secular AI growth thesis, supporting higher revenue and margin expectations for custom accelerators and high‑speed networking. Broadcom: AI Is Here To Stay (Seeking Alpha)
• Neutral Sentiment: Momentum and analyst upgrades are attracting flows — multiple firms have raised targets, which can amplify short‑term upside but also increase volatility on profit‑taking. Meta, Broadcom Extend Multi-Year AI Chip Partnership (Benzinga)
• Negative Sentiment: Insider selling continues (recent sales by S. Ram Velaga and director Gayla Delly among others), which can weigh on near‑term sentiment despite strategic rationale for transactions. S. Ram Velaga insider sale (InsiderTrades)
• Negative Sentiment: Analyst caution remains: firms like UBS note customer concentration and competitive risks (NVIDIA and others) that could limit upside if hyperscalers change sourcing or pricing dynamics. Broadcom deal with Google signals stronger AI demand but long-term risks remain: UBS

Insiders Place Their Bets

In related news, insider Charlie B. Kawwas sold 10,000 shares of the business's stock in a transaction on Wednesday, April 8th. The stock was sold at an average price of $345.23, for a total value of $3,452,300.00. Following the completion of the sale, the insider directly owned 787,184 shares in the company, valued at $271,759,532.32. The trade was a 1.25% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider S. Ram Velaga sold 8,000 shares of the business's stock in a transaction on Friday, April 10th. The shares were sold at an average price of $370.52, for a total value of $2,964,160.00. Following the completion of the sale, the insider owned 57,932 shares of the company's stock, valued at $21,464,964.64. This trade represents a 12.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 324,282 shares of company stock worth $106,425,249 over the last three months. 1.90% of the stock is currently owned by corporate insiders.

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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