Bokf Na Lowers Stock Holdings in Broadcom Inc. $AVGO

Key Points

• Bokf Na reduced its Broadcom stake by 4.4% in the fourth quarter, selling 11,637 shares and ending with 254,283 shares worth about $88 million.
• Wall Street remains broadly bullish on Broadcom, with Citi lifting its price target to $500 and analysts giving the stock a consensus “Moderate Buy” rating, despite one recent downgrade from Weiss Ratings.
• Broadcom continues to show strong operating results, having recently beaten earnings and revenue estimates with 29.5% year-over-year revenue growth, while also paying a quarterly dividend of $0.65 per share.

Bokf Na lessened its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 4.4% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 254,283 shares of the semiconductor manufacturer's stock after selling 11,637 shares during the quarter. Broadcom accounts for approximately 1.3% of Bokf Na's portfolio, making the stock its 14th biggest position. Bokf Na's holdings in Broadcom were worth $88,007,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. JCIC Asset Management Inc. purchased a new position in shares of Broadcom in the 3rd quarter valued at about $31,000. Miller Global Investments LLC purchased a new position in shares of Broadcom in the 4th quarter valued at about $31,000. Nvest Wealth Strategies Inc. purchased a new position in shares of Broadcom in the 4th quarter valued at about $33,000. Manning & Napier Advisors LLC purchased a new position in shares of Broadcom in the 3rd quarter valued at about $34,000. Finally, Family CFO Inc purchased a new position in shares of Broadcom in the 4th quarter valued at about $35,000. Hedge funds and other institutional investors own 76.43% of the company's stock.

Analyst Ratings Changes

AVGO has been the subject of several recent research reports. Weiss Ratings cut Broadcom from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Friday, April 24th. Zacks Research upgraded Broadcom from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 2nd. Seaport Research Partners reiterated a "neutral" rating on shares of Broadcom in a research note on Wednesday, April 8th. Citigroup reiterated a "buy" rating and issued a $500.00 price objective (up from $475.00) on shares of Broadcom in a research note on Tuesday. Finally, Rosenblatt Securities reiterated a "buy" rating and issued a $500.00 price objective on shares of Broadcom in a research note on Tuesday, April 7th. Two analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $436.13.

Insider Buying and Selling at Broadcom

In other news, Director Gayla J. Delly sold 1,000 shares of the firm's stock in a transaction dated Thursday, April 9th. The stock was sold at an average price of $358.31, for a total transaction of $358,310.00. Following the sale, the director owned 32,352 shares of the company's stock, valued at approximately $11,592,045.12. This trade represents a 3.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mark David Brazeal sold 50,488 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 value of $16,236,940.80. Following the sale, the insider directly owned 278,141 shares in the company, valued at $89,450,145.60. This trade represents a 15.36% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 324,282 shares of company stock worth $106,425,249. 1.90% of the stock is currently owned by corporate insiders.

Broadcom News Summary

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

Broadcom Price Performance

Shares of NASDAQ AVGO opened at $419.30 on Wednesday. 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 Inc. has a fifty-two week low of $221.60 and a fifty-two week high of $437.68. The firm has a market capitalization 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 stock's 50-day simple moving average is $358.98 and its 200-day simple moving average is $353.01.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its earnings results on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 earnings per share for the quarter, topping the consensus estimate 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 analyst estimates of $19.10 billion. During the same quarter last year, the company earned $1.60 EPS. The business's quarterly revenue was up 29.5% on a year-over-year basis. As a group, equities research analysts forecast that Broadcom Inc. will post 9.95 EPS for the current fiscal year.

Broadcom Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Monday, March 23rd were given a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend was Monday, March 23rd. Broadcom's dividend payout ratio (DPR) is 50.78%.

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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