Busey Bank Reduces Stock Holdings in Broadcom Inc. $AVGO

Key Points

• Busey Bank trimmed its stake in Broadcom by 0.4% in Q4, selling 1,309 shares and now holds 290,747 shares worth $100,628,000 — roughly 2.7% of its portfolio and its 7th‑largest holding.
• Insider sales were substantial: CFO Kirsten M. Spears sold 36,292 shares (~$11.67M) and S. Ram Velaga sold 38,841 shares (~$12.49M), with insiders offloading 324,282 shares (~$106.4M) in the quarter; insiders now own 1.90% of the stock.
• Broadcom beat Q results (EPS $2.05 vs. $2.03) with revenue of $19.31B, up 29.5% YoY, has a near‑$2T market cap and an average analyst target of $435.30, though valuation is high (P/E ~81.7) and dividend yield is 0.6%.

Busey Bank lowered its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 0.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 290,747 shares of the semiconductor manufacturer's stock after selling 1,309 shares during the period. Broadcom makes up about 2.7% of Busey Bank's investment portfolio, making the stock its 7th largest holding. Busey Bank's holdings in Broadcom were worth $100,628,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Miller Global Investments LLC bought a new position in shares of Broadcom in the fourth quarter valued at $31,000. JCIC Asset Management Inc. bought a new position in shares of Broadcom in the third quarter valued at $31,000. Family CFO Inc bought a new position in shares of Broadcom in the fourth quarter valued at $35,000. Manning & Napier Advisors LLC bought a new position in shares of Broadcom in the third quarter valued at $34,000. Finally, PayPay Securities Corp increased its holdings in shares of Broadcom by 88.9% in the fourth quarter. PayPay Securities Corp now owns 119 shares of the semiconductor manufacturer's stock valued at $41,000 after buying an additional 56 shares in the last quarter. Institutional investors own 76.43% of the company's stock.

More Broadcom News

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom deepened multi‑year, multi‑generation partnerships with Meta and expanded work with Google Cloud (custom AI silicon + cloud networking), strengthening revenue visibility from hyperscalers and bolstering AVGO’s AI growth narrative. Read More.
• Positive Sentiment: Coverage and price‑target upside: bullish research and bullish price‑target narratives (e.g., 247WallStreet’s $475/$558 bull case) feed investor expectations for continued upside and justify momentum buying. Read More.
• Positive Sentiment: Analyst / trade coverage and retail interest: pieces highlighting Broadcom as an AI “growth superstar” and mentions in “AI chip” leader lists keep the stock on buy lists and in thematic ETFs, supporting demand. Read More.
• Positive Sentiment: IBD technical framing: Broadcom is cited as “near buy zone” by IBD-style coverage — technical narratives can trigger momentum-driven inflows from traders. Read More.
• Neutral Sentiment: Sector tailwinds: multiple industry roundup pieces list AVGO among top AI semiconductor plays (alongside NVDA, MU), highlighting structural demand but not changing fundamentals immediately. Such coverage keeps AVGO in thematic funds. Read More.
• Neutral Sentiment: ETF / momentum context: mentions in ETF strategy stories (JPMorgan active bench, momentum ETFs) indicate flows into tech/momentum buckets could benefit AVGO, but effects depend on index/ETF rebalancings. Read More. and Read More.
• Negative Sentiment: Short‑term pull vs. market: a Zacks note flagged AVGO’s decline amid a broader market uptick — suggesting profit‑taking or sector rotation pressured the stock despite positive company news. Read More.
• Negative Sentiment: Valuation caution: coverage noting a stretched valuation and rich multiples vs. near‑term fundamentals raises the risk of sharper pullbacks if AI demand or margins disappoint. Read More.

Insider Activity at Broadcom

In other news, CFO Kirsten M. Spears sold 36,292 shares of the business's stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $321.60, for a total transaction of $11,671,507.20. Following the transaction, the chief financial officer directly owned 327,760 shares in the company, valued at $105,407,616. The trade was a 9.97% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider S. Ram Velaga sold 38,841 shares of the business's stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $321.60, for a total transaction of $12,491,265.60. Following the transaction, the insider owned 96,147 shares in the company, valued at approximately $30,920,875.20. This represents a 28.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 324,282 shares of company stock valued at $106,425,249. Insiders own 1.90% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on AVGO shares. Morgan Stanley lifted their price objective on shares of Broadcom from $462.00 to $470.00 and gave the stock an "overweight" rating in a research report on Friday, March 6th. Citigroup lifted their price objective on shares of Broadcom from $458.00 to $475.00 and gave the stock a "buy" rating in a research report on Thursday, March 5th. Wells Fargo & Company upgraded shares of Broadcom from an "equal weight" rating to an "overweight" rating and lifted their price objective for the stock from $410.00 to $430.00 in a research report on Thursday, January 15th. The Goldman Sachs Group reiterated a "buy" rating and set a $450.00 price objective on shares of Broadcom in a research report on Monday, January 5th. Finally, Seaport Research Partners reiterated a "neutral" rating on shares of Broadcom in a research report on Wednesday, April 8th. 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's stock. Based on data from MarketBeat, Broadcom has an average rating of "Moderate Buy" and an average target price of $435.30.

Broadcom Trading Down 1.1%

NASDAQ AVGO opened at $418.20 on Tuesday. Broadcom Inc. has a twelve month low of $184.02 and a twelve month high of $429.31. 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 cap of $1.98 trillion, a price-to-earnings ratio of 81.68, a PEG ratio of 0.87 and a beta of 1.24. The firm's 50 day moving average price is $342.90 and its two-hundred day moving average price is $348.41.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its quarterly earnings results on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 EPS for the quarter, beating the consensus estimate 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 analysts' expectations of $19.10 billion. During the same period in the previous year, the company posted $1.60 EPS. Broadcom's revenue was up 29.5% on a year-over-year basis. Equities analysts anticipate that Broadcom Inc. will post 9.95 EPS for the current year.

Broadcom Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Monday, March 23rd were issued a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 0.6%. The ex-dividend date was Monday, March 23rd. 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.

Want to see what other hedge funds are holding AVGO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Broadcom Inc. (NASDAQ:AVGO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.