Broadcom Inc. $AVGO Holdings Lessened by Generali Asset Management SPA SGR

Key Points

• Generali Asset Management reduced its Broadcom stake by 4.8% in the fourth quarter, though it still held 254,804 shares worth about $88.2 million and made Broadcom its 9th-largest holding.
• Broadcom continues to attract bullish analyst and AI-related attention, with Citi, Truist, and JPMorgan all raising price targets and reiterating buy-type ratings amid strong demand tied to custom AI silicon and infrastructure.
• Recent insider selling and mixed trading sentiment were notable, as executives sold shares in the past 90 days and the stock eased 0.6% on the day despite strong quarterly results and a modest dividend yield.

Generali Asset Management SPA SGR trimmed its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 4.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 254,804 shares of the semiconductor manufacturer's stock after selling 12,884 shares during the period. Broadcom comprises 1.8% of Generali Asset Management SPA SGR's investment portfolio, making the stock its 9th biggest holding. Generali Asset Management SPA SGR's holdings in Broadcom were worth $88,188,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in AVGO. JCIC Asset Management Inc. purchased a new stake in shares of Broadcom in the 3rd quarter valued at approximately $31,000. Miller Global Investments LLC purchased a new stake in shares of Broadcom in the 4th quarter valued at approximately $31,000. Nvest Wealth Strategies Inc. purchased a new stake in shares of Broadcom in the 4th quarter valued at approximately $33,000. Manning & Napier Advisors LLC purchased a new stake in Broadcom during the 3rd quarter worth approximately $34,000. Finally, Family CFO Inc purchased a new stake in Broadcom during the 4th quarter worth approximately $35,000. 76.43% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Broadcom news, insider Mark David Brazeal sold 50,488 shares of the 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 $16,236,940.80. Following the sale, the insider directly owned 278,141 shares of the company's stock, valued at approximately $89,450,145.60. This represents a 15.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider S. Ram Velaga sold 8,000 shares of the stock in a transaction that occurred on Friday, April 10th. The shares were sold at an average price of $370.52, for a total transaction of $2,964,160.00. Following the completion of the sale, the insider directly owned 57,932 shares in the company, valued at approximately $21,464,964.64. This represents a 12.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 324,282 shares of company stock worth $106,425,249. Corporate insiders own 1.90% of the company's stock.

Key Broadcom News

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, saying the company remains one of Wall Street’s top semiconductor picks heading into earnings on continued AI demand. Broadcom Enters Earnings As Citi's Top Semiconductor Pick
• Positive Sentiment: Multiple reports highlighted Broadcom’s growing role in custom AI silicon and AI infrastructure, including talk of a large financing package to support its chipmaking buildout, reinforcing the bullish long-term AI investment case. Why Broadcom (AVGO) Is Becoming a Bigger Force in Custom AI Silicon
• Positive Sentiment: Fund-flow headlines were supportive, with Chris Rokos reportedly buying Broadcom and Mirova US LLC increasing its stake, suggesting institutional confidence remains strong. Broadcom Inc. (AVGO): Chris Rokos Is Buying This Chip Stock
• Neutral Sentiment: Broadcom sued EU antitrust regulators over a request for U.S. legal documents tied to the VMware deal, which adds legal noise but is not yet a clear business fundamental issue. Broadcom sues EU antitrust regulators over request for US legal documents
• Negative Sentiment: Recent trading showed Broadcom easing after a strong run, and some commentary warned that tech valuations are becoming crowded, which may be prompting profit-taking in the stock. Broadcom Inc. (AVGO) Dips More Than Broader Market: What You Should Know
• Negative Sentiment: Some holders also trimmed positions, including PRIMECAP Management and Cincinnati Specialty Underwriters, adding a modest overhang to sentiment. PRIMECAP Management Co trims Broadcom stake by 12,410 shares

Broadcom Trading Down 0.6%

Shares of NASDAQ:AVGO opened at $416.79 on Thursday. Broadcom Inc. has a 52 week low of $221.60 and a 52 week high of $437.68. The company's 50 day moving average is $360.94 and its two-hundred day moving average is $353.52. The company has a current ratio of 1.90, a quick ratio of 1.73 and a debt-to-equity ratio of 0.80. The company has a market cap of $1.97 trillion, a PE ratio of 81.40, a P/E/G ratio of 0.87 and a beta of 1.43.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its quarterly earnings data on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 EPS for the quarter, beating analysts' consensus estimates of $2.03 by $0.02. Broadcom had a net margin of 36.57% and a return on equity of 38.61%. The company had revenue of $19.31 billion for the quarter, compared to the consensus estimate of $19.10 billion. During the same period in the prior year, the firm posted $1.60 EPS. The company's quarterly revenue was up 29.5% compared to the same quarter last year. Equities analysts predict that Broadcom Inc. will post 9.95 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Monday, March 23rd were given a $0.65 dividend. The ex-dividend date of this dividend was Monday, March 23rd. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.6%. Broadcom's dividend payout ratio is currently 50.78%.

Analyst Upgrades and Downgrades

AVGO has been the topic of several recent research reports. Truist Financial upped their target price on shares of Broadcom from $510.00 to $545.00 and gave the stock a "buy" rating in a research note on Thursday, March 5th. Citigroup reaffirmed a "buy" rating and set a $500.00 target price (up from $475.00) on shares of Broadcom in a research note on Tuesday. Wolfe Research raised shares of Broadcom from a "peer perform" rating to an "outperform" rating and set a $400.00 target price on the stock in a research note on Friday, January 30th. JPMorgan Chase & Co. upped their target price on shares of Broadcom from $475.00 to $500.00 and gave the stock an "overweight" rating in a research note on Thursday, March 5th. Finally, Erste Group Bank downgraded shares of Broadcom from a "buy" rating to a "hold" rating in a research note on Thursday, April 2nd. 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, Broadcom presently has an average rating of "Moderate Buy" and a consensus target price of $436.13.

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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