Broadcom Inc. $AVGO Shares Sold by Premier Fund Managers Ltd

Key Points

• Premier Fund Managers Ltd cut its Broadcom stake by 47.6% in the fourth quarter, selling 39,206 shares and leaving it with 43,164 shares valued at about $15.1 million.
• Broadcom reported strong quarterly results, with EPS of $2.05 and revenue of $19.31 billion, both topping Wall Street estimates and marking 29.5% year-over-year revenue growth.
• The stock remains heavily backed by institutions, with 76.43% owned by institutional investors and hedge funds, while analysts maintain a Moderate Buy rating and a consensus price target of $436.13.

Premier Fund Managers Ltd cut its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 47.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 43,164 shares of the semiconductor manufacturer's stock after selling 39,206 shares during the period. Premier Fund Managers Ltd's holdings in Broadcom were worth $15,104,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Arrowstreet Capital Limited Partnership grew its stake in shares of Broadcom by 499.4% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 5,634,232 shares of the semiconductor manufacturer's stock valued at $1,858,789,000 after buying an additional 4,694,313 shares during the period. Vanguard Group Inc. grew its stake in shares of Broadcom by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 482,707,302 shares of the semiconductor manufacturer's stock valued at $167,064,997,000 after buying an additional 3,919,715 shares during the period. Nordea Investment Management AB grew its stake in shares of Broadcom by 47.5% during the 4th quarter. Nordea Investment Management AB now owns 9,814,757 shares of the semiconductor manufacturer's stock valued at $3,406,211,000 after buying an additional 3,160,586 shares during the period. Danske Bank A S purchased a new stake in shares of Broadcom during the 3rd quarter valued at $987,488,000. Finally, PFA Pension Forsikringsaktieselskab purchased a new stake in shares of Broadcom during the 4th quarter valued at $924,858,000. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Broadcom Stock Down 0.6%

Shares of Broadcom stock opened at $416.79 on Thursday. The company has a fifty day moving average price of $360.94 and a 200 day moving average price of $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. Broadcom Inc. has a twelve month low of $221.60 and a twelve month high of $437.68. The stock has a market cap of $1.97 trillion, a price-to-earnings ratio of 81.40, a price-to-earnings-growth ratio of 0.87 and a beta of 1.43.

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 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 firm had revenue of $19.31 billion during the quarter, compared to analysts' expectations of $19.10 billion. During the same period in the prior year, the company earned $1.60 EPS. The firm's revenue was up 29.5% on a year-over-year basis. Equities research analysts forecast that Broadcom Inc. will post 9.95 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Investors 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 yield of 0.6%. The ex-dividend date of this dividend was Monday, March 23rd. Broadcom's dividend payout ratio is 50.78%.

Trending Headlines about Broadcom

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

Wall Street Analyst Weigh In

AVGO has been the subject of several research reports. Royal Bank Of Canada lowered their price objective on shares of Broadcom from $370.00 to $340.00 and set a "sector perform" rating for the company in a research note on Monday, March 2nd. Truist Financial boosted their price objective on shares of Broadcom from $510.00 to $545.00 and gave the company a "buy" rating in a research note on Thursday, March 5th. Rosenblatt Securities reissued a "buy" rating and set a $500.00 price objective on shares of Broadcom in a research note on Tuesday, April 7th. Benchmark reissued a "buy" rating and set a $485.00 price objective on shares of Broadcom in a research note on Thursday, March 5th. Finally, DA Davidson raised shares of Broadcom to a "hold" rating in a research note on Friday, February 13th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $436.13.

Insider Activity

In other Broadcom news, insider Mark David Brazeal sold 50,488 shares of the company's stock in a transaction dated 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 completion of the transaction, the insider directly owned 278,141 shares of the company's stock, valued at $89,450,145.60. This represents a 15.36% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Justine Page sold 2,018 shares of the company's stock in a transaction dated Wednesday, April 8th. The shares were sold at an average price of $353.00, for a total transaction of $712,354.00. Following the completion of the transaction, the director directly owned 18,164 shares of the company's stock, valued at approximately $6,411,892. The trade was 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 in the last quarter. 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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