Broadcom Inc. $AVGO Shares Sold by Cardinal Capital Management Inc.

Key Points

• Cardinal Capital Management cut its Broadcom stake by 26.8% in Q4, selling 25,752 shares and leaving it with 70,413 shares valued at about $24.37 million.
• Insider selling has been heavy recently — insiders disposed of 324,282 shares worth roughly $106.4 million in the last quarter, including notable sales by S. Ram Velaga and Mark David Brazeal, creating a near‑term sentiment headwind.
• Despite the selling, Broadcom posted an EPS and revenue beat, is benefiting from expanded multi‑year AI deals with hyperscalers, and retains a MarketBeat consensus of “Moderate Buy” with an average price target of about $435.30.

Cardinal Capital Management Inc. cut its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 26.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 70,413 shares of the semiconductor manufacturer's stock after selling 25,752 shares during the quarter. Cardinal Capital Management Inc.'s holdings in Broadcom were worth $24,370,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Miller Global Investments LLC acquired a new position in Broadcom in the fourth quarter valued at $31,000. JCIC Asset Management Inc. acquired a new position in Broadcom in the third quarter valued at $31,000. Manning & Napier Advisors LLC acquired a new position in Broadcom in the third quarter valued at $34,000. Navigoe LLC increased its stake in Broadcom by 515.0% in the third quarter. Navigoe LLC now owns 123 shares of the semiconductor manufacturer's stock valued at $40,000 after purchasing an additional 103 shares during the period. Finally, Stone House Investment Management LLC increased its stake in Broadcom by 600.0% in the third quarter. Stone House Investment Management LLC now owns 140 shares of the semiconductor manufacturer's stock valued at $46,000 after purchasing an additional 120 shares during the period. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Erste Group Bank lowered shares of Broadcom from a "buy" rating to a "hold" rating in a research note on Thursday, April 2nd. Bank of America dropped their price objective on shares of Broadcom from $500.00 to $450.00 and set a "buy" rating on the stock in a research note on Thursday, March 5th. Wolfe Research upgraded shares of Broadcom from a "peer perform" rating to an "outperform" rating and set a $400.00 price objective on the stock in a research note on Friday, January 30th. JPMorgan Chase & Co. lifted their price objective 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. Finally, Truist Financial boosted their price target 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. Two investment analysts have rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, Broadcom has a consensus rating of "Moderate Buy" and an average price target of $435.30.

Insider Activity

In related news, insider S. Ram Velaga sold 8,000 shares of the business's stock in a transaction dated 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 owned 57,932 shares of the company's stock, valued at approximately $21,464,964.64. The trade was a 12.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Mark David Brazeal sold 50,488 shares of the business's stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $321.60, for a total transaction of $16,236,940.80. Following the sale, the insider directly owned 278,141 shares in the company, valued at approximately $89,450,145.60. This represents a 15.36% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 324,282 shares of company stock valued at $106,425,249 in the last quarter. Insiders own 1.90% of the company's stock.

Broadcom News Summary

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Expanded multi‑year AI deal with Meta (through 2029) commits an initial >1GW of custom MTIA silicon and uses Broadcom’s XPU and Ethernet networking to scale multi‑gigawatt AI clusters — materially raises long‑term AI revenue visibility. Read More.
• Positive Sentiment: Broader hyperscaler footprint — additional deals referenced with Google and Anthropic expand customer exposure beyond a single partner, supporting sustained demand for Broadcom’s custom accelerators and networking. Read More.
• Positive Sentiment: New software for AI deployments — Broadcom announced VMware Tanzu Platform agent foundations to accelerate secure, agentic AI applications on VMware Cloud, extending its addressable market into AI infrastructure software. Read More.
• Neutral Sentiment: Market/analyst momentum is lifting AVGO alongside semiconductor peers; multiple firms have raised price targets which can amplify flows but also raise volatility on profit‑taking. Read More.
• Negative Sentiment: Insider selling persists (recent multi‑million dollar sales by S. Ram Velaga and other insiders), a near‑term sentiment headwind even as strategic deals are executed. Read More.
• Negative Sentiment: Analyst caution / competitive risk — some firms warn about customer concentration and NVIDIA/other competitive pressures; one rating downgrade highlights execution and sourcing risk if hyperscalers change strategies. Read More. Read More.

Broadcom Trading Up 4.2%

Shares of Broadcom stock opened at $396.72 on Thursday. Broadcom Inc. has a 52-week low of $161.61 and a 52-week high of $414.61. The company has a quick ratio of 1.73, a current ratio of 1.90 and a debt-to-equity ratio of 0.80. The company's 50-day simple moving average is $330.13 and its 200-day simple moving average is $344.15. The firm has a market cap of $1.88 trillion, a price-to-earnings ratio of 77.48, a price-to-earnings-growth ratio of 0.79 and a beta of 1.24.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its quarterly 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 net margin of 36.57% and a return on equity of 38.61%. 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 business posted $1.60 earnings per share. The business's revenue was up 29.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Announces Dividend

The business also recently disclosed 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 of this dividend was Monday, March 23rd. This represents a $2.60 dividend on an annualized basis and a yield of 0.7%. Broadcom's payout ratio is currently 50.78%.

Broadcom 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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