Broadcom Inc. $AVGO Shares Sold by Atria Investments Inc

Key Points

• Atria Investments Inc reduced its Broadcom stake by 3.3% in the fourth quarter, selling 8,975 shares and ending with 266,892 shares valued at about $92.4 million. Broadcom remained Atria’s 10th-largest holding and made up roughly 1% of its portfolio.
• Broadcom reported strong quarterly results, beating EPS and revenue estimates with $2.05 per share on $19.31 billion in revenue. Revenue rose 29.5% year over year, underscoring continued growth momentum.
• Analysts remain bullish on AVGO, with multiple firms reiterating buy-equivalent ratings and consensus price target near $448.10. The company also continued paying its quarterly dividend, recently set at $0.65 per share.

Atria Investments Inc lessened its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 3.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 266,892 shares of the semiconductor manufacturer's stock after selling 8,975 shares during the period. Broadcom accounts for about 1.0% of Atria Investments Inc's portfolio, making the stock its 10th biggest holding. Atria Investments Inc's holdings in Broadcom were worth $92,371,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Baring Financial LLC increased its holdings in Broadcom by 2.2% in the 4th quarter. Baring Financial LLC now owns 1,359 shares of the semiconductor manufacturer's stock worth $470,000 after purchasing an additional 29 shares in the last quarter. Five Oceans Advisors increased its holdings in Broadcom by 0.4% in the 4th quarter. Five Oceans Advisors now owns 8,191 shares of the semiconductor manufacturer's stock worth $2,835,000 after purchasing an additional 29 shares in the last quarter. Jackson Hole Capital Partners LLC increased its holdings in Broadcom by 1.4% in the 3rd quarter. Jackson Hole Capital Partners LLC now owns 2,170 shares of the semiconductor manufacturer's stock worth $716,000 after purchasing an additional 30 shares in the last quarter. Private Wealth Partners LLC increased its stake in shares of Broadcom by 0.7% in the third quarter. Private Wealth Partners LLC now owns 4,273 shares of the semiconductor manufacturer's stock valued at $1,410,000 after buying an additional 30 shares during the period. Finally, Planning Alternatives Ltd. ADV increased its stake in shares of Broadcom by 1.4% in the third quarter. Planning Alternatives Ltd. ADV now owns 2,168 shares of the semiconductor manufacturer's stock valued at $715,000 after buying an additional 30 shares during the period. Institutional investors and hedge funds own 76.43% of the company's stock.

Broadcom Stock Down 2.3%

Shares of NASDAQ:AVGO opened at $411.07 on Wednesday. The business's 50 day simple moving average is $368.97 and its two-hundred day simple moving average is $355.08. The firm has a market cap of $1.95 trillion, a P/E ratio of 80.29, a PEG ratio of 0.87 and a beta of 1.43. 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 52-week low of $226.18 and a 52-week high of $442.36.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its quarterly earnings results on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.03 by $0.02. The business had revenue of $19.31 billion for the quarter, compared to analyst estimates of $19.10 billion. Broadcom had a return on equity of 38.61% and a net margin of 36.57%.The company's quarterly revenue was up 29.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.60 earnings per share. As a group, research analysts forecast that Broadcom Inc. will post 9.97 EPS for the current fiscal year.

Broadcom Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Investors 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 annualized dividend and a yield of 0.6%. Broadcom's dividend payout ratio is 50.78%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Benchmark reissued a "buy" rating and issued a $485.00 price target on shares of Broadcom in a research note on Thursday, March 5th. Evercore reissued an "outperform" rating and issued a $582.00 price target on shares of Broadcom in a research note on Tuesday. Zacks Research raised Broadcom from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 2nd. Morgan Stanley increased their price target on Broadcom from $462.00 to $470.00 and gave the company an "overweight" rating in a research note on Friday, March 6th. Finally, Bank of America decreased their price target on Broadcom from $500.00 to $450.00 and set a "buy" rating for the company in a research note on Thursday, March 5th. Two 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 company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $448.10.

Key Broadcom News

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom renewed its long-running technology partnership with LSEG in a new five-year agreement centered on VMware Cloud Foundation, expanding Broadcom’s role in LSEG’s private cloud infrastructure and adding professional services revenue potential. LSEG renews Broadcom partnership to expand cloud infrastructure strategy (AVGO)
• Positive Sentiment: Wall Street remains bullish on AVGO, with recent analyst updates and price targets pointing to confidence in Broadcom’s AI-driven growth and leadership in semiconductor and infrastructure software. Wall Street sets Broadcom stock price target for next 12 months
• Neutral Sentiment: Recent coverage continues to highlight Broadcom as a major AI infrastructure beneficiary, with analysts favoring AVGO over some peers because of its strong AI revenue growth and broad demand trends. ALAB vs. AVGO: Which AI Infrastructure Stock Is the Better Buy Now?
• Neutral Sentiment: Broader market commentary and stock-search interest have kept AVGO in the spotlight, but these items do not point to a direct fundamental change. Investors Heavily Search Broadcom Inc. (AVGO): Here is What You Need to Know
• Negative Sentiment: AVGO had recently been trading lower at times, reflecting some profit-taking even as the longer-term story remains tied to AI and enterprise software growth. Broadcom Inc. (AVGO) Declines More Than Market: Some Information for Investors

Insider Buying and Selling at Broadcom

In other Broadcom news, insider Charlie B. Kawwas sold 10,000 shares of the firm's stock in a transaction on Wednesday, April 8th. The stock was sold at an average price of $345.23, for a total transaction of $3,452,300.00. Following the transaction, the insider directly owned 787,184 shares in the company, valued at approximately $271,759,532.32. This trade represents a 1.25% 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 S. Ram Velaga sold 8,000 shares of the firm'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 transaction, the insider owned 57,932 shares in the company, valued at approximately $21,464,964.64. This trade represents a 12.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 324,282 shares of company stock valued at $106,425,249 in the last three months. Insiders own 1.90% of the company's stock.

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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