Broadcom Inc. $AVGO Shares Sold by Altman Advisors Inc.

Key Points

• Altman Advisors cut its Broadcom stake by 23% in the fourth quarter, selling 4,179 shares and ending with 13,954 shares valued at about $4.83 million.
• Broadcom also saw notable insider selling, including sales by Director Gayla J. Delly and insider S. Ram Velaga; insiders have sold 324,282 shares worth about $106.4 million over the last 90 days.
• Despite the selling, analysts remain broadly positive: Broadcom has a Moderate Buy consensus rating with a $441.63 target price, and recent commentary highlighted strong AI-related demand as a potential tailwind.

Altman Advisors Inc. lowered its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 23.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,954 shares of the semiconductor manufacturer's stock after selling 4,179 shares during the quarter. Broadcom accounts for 1.7% of Altman Advisors Inc.'s investment portfolio, making the stock its 14th biggest position. Altman Advisors Inc.'s holdings in Broadcom were worth $4,830,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AVGO. JCIC Asset Management Inc. acquired a new position in Broadcom in the third quarter valued at $31,000. Miller Global Investments LLC acquired a new position in Broadcom in the fourth quarter valued at $31,000. Nvest Wealth Strategies Inc. acquired a new position in Broadcom in the fourth quarter valued at $33,000. Manning & Napier Advisors LLC acquired a new position in Broadcom in the third quarter valued at $34,000. Finally, Family CFO Inc acquired a new position in Broadcom in the fourth quarter valued at $35,000. Institutional investors and hedge funds own 76.43% of the company's stock.

Insider Buying and Selling at Broadcom

In other news, Director Gayla J. Delly sold 1,000 shares of Broadcom 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 directly owned 32,352 shares of the company's stock, valued at approximately $11,592,045.12. The trade was a 3.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider S. Ram Velaga sold 8,000 shares of Broadcom stock in a transaction dated Friday, April 10th. The stock was sold at an average price of $370.52, for a total value of $2,964,160.00. Following the sale, the insider directly owned 57,932 shares in the company, valued at approximately $21,464,964.64. The trade was 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 valued at $106,425,249. Company insiders own 1.90% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on AVGO shares. JPMorgan Chase & Co. lifted their target price on Broadcom from $475.00 to $500.00 and gave the company an "overweight" rating in a report on Thursday, March 5th. Seaport Research Partners reissued a "neutral" rating on shares of Broadcom in a research report on Wednesday, April 8th. Morgan Stanley raised their price objective on Broadcom from $462.00 to $470.00 and gave the company an "overweight" rating in a research report on Friday, March 6th. Benchmark reissued a "buy" rating and issued a $485.00 price objective on shares of Broadcom in a research report on Thursday, March 5th. Finally, DA Davidson raised Broadcom to a "hold" rating in a research report on Friday, February 13th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $441.63.

Broadcom Trading Down 3.3%

NASDAQ:AVGO opened at $425.19 on Friday. The business's 50-day moving average is $365.61 and its two-hundred day moving average is $354.62. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.90 and a quick ratio of 1.73. Broadcom Inc. has a 12 month low of $221.60 and a 12 month high of $442.36. The firm has a market capitalization of $2.01 trillion, a PE ratio of 83.05, a price-to-earnings-growth ratio of 0.88 and a beta of 1.43.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its earnings results on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 period in the previous year, the company earned $1.60 earnings per share. The company's revenue for the quarter was up 29.5% compared to the same quarter last year. Research analysts predict that Broadcom Inc. will post 9.95 earnings per share for the current fiscal year.

Broadcom Announces Dividend

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 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend was Monday, March 23rd. Broadcom's payout ratio is presently 50.78%.

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.

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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