CORDA Investment Management LLC. Has $1.82 Million Stock Holdings in Broadcom Inc. $AVGO

Key Points

• CORDA Investment Management cut its Broadcom stake by 65.2% in the fourth quarter, selling 9,880 shares and ending with 5,262 shares worth about $1.82 million.
• Despite some investors trimming positions, Broadcom still has strong institutional support, with hedge funds and other institutional investors owning 76.43% of the stock.
• Broadcom continues to draw bullish analyst coverage and AI-related optimism: Citi raised its price target to $500, and the consensus rating remains Moderate Buy with a target of $436.13.

CORDA Investment Management LLC. lessened its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 65.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,262 shares of the semiconductor manufacturer's stock after selling 9,880 shares during the quarter. CORDA Investment Management LLC.'s holdings in Broadcom were worth $1,821,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. Baring Financial LLC lifted its stake in shares of Broadcom by 2.2% during the fourth quarter. Baring Financial LLC now owns 1,359 shares of the semiconductor manufacturer's stock valued at $470,000 after acquiring an additional 29 shares during the period. Five Oceans Advisors lifted its stake in shares of Broadcom by 0.4% during the fourth quarter. Five Oceans Advisors now owns 8,191 shares of the semiconductor manufacturer's stock valued at $2,835,000 after acquiring an additional 29 shares during the period. Jackson Hole Capital Partners LLC lifted its stake in Broadcom by 1.4% in the third quarter. Jackson Hole Capital Partners LLC now owns 2,170 shares of the semiconductor manufacturer's stock valued at $716,000 after buying an additional 30 shares during the period. Private Wealth Partners LLC lifted its stake in 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 lifted its stake in 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.

Insider Buying and Selling

In other Broadcom news, insider S. Ram Velaga sold 8,000 shares of the 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 completion of the sale, the insider directly owned 57,932 shares in the company, valued at $21,464,964.64. This represents a 12.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Charlie B. Kawwas sold 10,000 shares of the stock in a transaction dated Wednesday, April 8th. The stock was sold at an average price of $345.23, for a total value of $3,452,300.00. Following the completion of the sale, the insider owned 787,184 shares of the company's stock, valued at $271,759,532.32. This trade represents a 1.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 324,282 shares of company stock valued at $106,425,249. 1.90% of the stock is owned by company insiders.

Broadcom News Roundup

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

Analyst Ratings Changes

Several research firms have weighed in on AVGO. Seaport Research Partners reissued a "neutral" rating on shares of Broadcom in a research note on Wednesday, April 8th. Wells Fargo & Company raised Broadcom from an "equal weight" rating to an "overweight" rating and increased their target price for the company from $410.00 to $430.00 in a research note on Thursday, January 15th. Morgan Stanley increased their target price on Broadcom from $462.00 to $470.00 and gave the company an "overweight" rating in a research note on Friday, March 6th. Truist Financial increased their target price on Broadcom from $510.00 to $545.00 and gave the company a "buy" rating in a research note on Thursday, March 5th. Finally, Zacks Research raised Broadcom from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 2nd. Two investment analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $436.13.

Broadcom Stock Down 0.6%

Shares of Broadcom stock opened at $416.79 on Thursday. Broadcom Inc. has a 1 year low of $221.60 and a 1 year high of $437.68. The business has a 50-day moving average of $360.94 and a two-hundred day moving average of $353.52. The company has a market capitalization of $1.97 trillion, a P/E ratio of 81.40, a price-to-earnings-growth ratio of 0.87 and a beta of 1.43. 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 (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. Broadcom had a return on equity of 38.61% and a net margin of 36.57%.The company had revenue of $19.31 billion during the quarter, compared to the consensus estimate of $19.10 billion. During the same period in the prior 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. As a group, equities analysts predict that Broadcom Inc. will post 9.95 EPS for the current year.

Broadcom Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Monday, March 23rd were issued a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 0.6%. The ex-dividend date was Monday, March 23rd. Broadcom's dividend payout ratio is 50.78%.

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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