Broadcom Inc. $AVGO is First National Advisers LLC's 9th Largest Position

Key Points

• First National Advisers LLC increased its Broadcom stake by 4.5% in the fourth quarter, ending with 49,317 shares worth about $17.1 million. Broadcom is now its 9th largest position and makes up roughly 2.3% of the portfolio.
• Broadcom continues to attract strong AI-related optimism, with analysts and recent commentary pointing to demand in custom AI silicon, data-center networking, and optical interconnects. Citi and Wells Fargo both raised price targets, with Wells Fargo saying AI semiconductor revenue is running 30% to 40% above expectations.
• The stock has also seen notable insider selling, including transactions by S. Ram Velaga and Justine Page, while insiders sold 324,282 shares over the last 90 days. Even so, analysts remain broadly positive overall, with a consensus rating of “Moderate Buy” and an average price target of $441.63.

First National Advisers LLC grew its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 4.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 49,317 shares of the semiconductor manufacturer's stock after buying an additional 2,123 shares during the period. Broadcom accounts for approximately 2.3% of First National Advisers LLC's investment portfolio, making the stock its 9th largest position. First National Advisers LLC's holdings in Broadcom were worth $17,069,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. Mascoma Wealth Management LLC grew its stake in shares of Broadcom by 3.5% in the 4th quarter. Mascoma Wealth Management LLC now owns 1,148 shares of the semiconductor manufacturer's stock valued at $397,000 after buying an additional 39 shares during the period. Concentrum Wealth Management grew its stake in shares of Broadcom by 29.8% in the 4th quarter. Concentrum Wealth Management now owns 7,661 shares of the semiconductor manufacturer's stock valued at $2,652,000 after buying an additional 1,758 shares during the period. Pier 88 Investment Partners LLC purchased a new stake in shares of Broadcom in the 4th quarter valued at approximately $69,000. Strategic Planning Group LLC grew its stake in shares of Broadcom by 1.9% in the 4th quarter. Strategic Planning Group LLC now owns 26,655 shares of the semiconductor manufacturer's stock valued at $9,226,000 after buying an additional 493 shares during the period. Finally, Blackhawk Capital Partners LLC grew its stake in shares of Broadcom by 5.1% in the 4th quarter. Blackhawk Capital Partners LLC now owns 8,274 shares of the semiconductor manufacturer's stock valued at $2,864,000 after buying an additional 401 shares during the period. Hedge funds and other institutional investors own 76.43% of the company's stock.

Insider Activity at Broadcom

In other Broadcom news, 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 sale, the insider directly owned 57,932 shares in the company, valued at $21,464,964.64. This represents a 12.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Justine Page sold 2,018 shares of the stock in a transaction that occurred on Wednesday, April 8th. The stock was sold at an average price of $353.00, for a total transaction of $712,354.00. Following the sale, the director owned 18,164 shares in the company, valued at approximately $6,411,892. This trade represents a 10.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 324,282 shares of company stock worth $106,425,249 over the last 90 days. 1.90% of the stock is currently owned by corporate insiders.

Key Headlines 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.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on AVGO shares. JPMorgan Chase & Co. increased their price target on shares of Broadcom from $475.00 to $500.00 and gave the company an "overweight" rating in a research note on Thursday, March 5th. Wolfe Research raised shares of Broadcom from a "peer perform" rating to an "outperform" rating and set a $400.00 price target for the company in a research note on Friday, January 30th. Bank of America dropped their price target on shares of Broadcom from $500.00 to $450.00 and set a "buy" rating for the company in a research note on Thursday, March 5th. Erste Group Bank cut shares of Broadcom from a "buy" rating to a "hold" rating in a research note on Thursday, April 2nd. Finally, Weiss Ratings cut shares of Broadcom from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Friday, April 24th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $441.63.

Broadcom Stock Performance

NASDAQ:AVGO opened at $425.19 on Monday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.73 and a current ratio of 1.90. The stock has a market capitalization of $2.01 trillion, a P/E ratio of 83.05, a PEG ratio of 0.88 and a beta of 1.43. The company has a 50 day moving average price of $365.61 and a 200 day moving average price of $354.56. Broadcom Inc. has a fifty-two week low of $221.60 and a fifty-two week high of $442.36.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its quarterly earnings data 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. 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 firm's quarterly revenue was up 29.5% on a year-over-year basis. During the same quarter last year, the company posted $1.60 EPS. Equities research analysts forecast that Broadcom Inc. will post 9.95 EPS for the current year.

Broadcom Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Monday, March 23rd were issued 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 is 50.78%.

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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