Crestwood Advisors Group LLC Acquires 102,092 Shares of Broadcom Inc. $AVGO

Key Points

• Crestwood Advisors Group LLC boosted its Broadcom stake by 55.5% in the fourth quarter, buying 102,092 additional shares and lifting its position to 286,039 shares worth about $98.998 million.
• Broadcom continues to attract bullish analyst support, with firms like Citi, Morgan Stanley, Mizuho, and Rosenblatt raising targets or maintaining buy ratings amid expectations of strong AI-driven demand.
• The company recently posted better-than-expected earnings and revenue, while also reporting insider stock sales and a modest dividend of $0.65 per share, signaling both strong business performance and some mixed sentiment from insiders.

Crestwood Advisors Group LLC increased its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 55.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 286,039 shares of the semiconductor manufacturer's stock after purchasing an additional 102,092 shares during the quarter. Broadcom makes up approximately 1.6% of Crestwood Advisors Group LLC's holdings, making the stock its 11th largest holding. Crestwood Advisors Group LLC's holdings in Broadcom were worth $98,998,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Baring Financial LLC grew its stake in shares of Broadcom by 2.2% in the fourth quarter. Baring Financial LLC now owns 1,359 shares of the semiconductor manufacturer's stock worth $470,000 after purchasing an additional 29 shares during the last quarter. Five Oceans Advisors grew its stake in shares of Broadcom by 0.4% in the fourth 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 during the last quarter. Jackson Hole Capital Partners LLC grew its stake in shares of Broadcom by 1.4% in the third 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 during the last quarter. Private Wealth Partners LLC grew 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 worth $1,410,000 after purchasing an additional 30 shares during the last quarter. Finally, Planning Alternatives Ltd. ADV grew 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 worth $715,000 after purchasing an additional 30 shares during the last quarter. 76.43% of the stock is owned by institutional investors.

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

Insider Buying and Selling at Broadcom

In other news, insider S. Ram Velaga sold 38,841 shares of Broadcom stock in a transaction that occurred 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 completion of the transaction, the insider directly owned 96,147 shares in the company, valued at approximately $30,920,875.20. This trade represents a 28.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kirsten M. Spears sold 36,292 shares of Broadcom stock in a transaction that occurred 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 owned 327,760 shares of the company's stock, valued at $105,407,616. The trade was a 9.97% 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 over the last ninety days. Company insiders own 1.90% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Morgan Stanley raised their target price on Broadcom from $462.00 to $470.00 and gave the stock an "overweight" rating in a research note on Friday, March 6th. Mizuho reaffirmed an "outperform" rating and set a $480.00 price objective on shares of Broadcom in a research report on Thursday, April 16th. Wolfe Research raised Broadcom from a "peer perform" rating to an "outperform" rating and set a $400.00 price objective on the stock in a research report on Friday, January 30th. Zacks Research raised Broadcom from a "hold" rating to a "strong-buy" rating in a research report on Thursday, April 2nd. Finally, Rosenblatt Securities reaffirmed a "buy" rating and set a $500.00 price objective on shares of Broadcom in a research report on Tuesday, April 7th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $436.13.

Broadcom Stock Performance

Broadcom stock opened at $416.79 on Thursday. The stock's 50 day simple moving average is $360.94 and its two-hundred day simple moving average is $353.52. 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 $1.97 trillion, a price-to-earnings ratio of 81.40, a PEG ratio of 0.87 and a beta of 1.43. Broadcom Inc. has a fifty-two week low of $221.60 and a fifty-two week high of $437.68.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its quarterly earnings data on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 earnings per share for the quarter, beating the consensus estimate of $2.03 by $0.02. The business had revenue of $19.31 billion for the quarter, compared to analysts' expectations of $19.10 billion. Broadcom had a return on equity of 38.61% and a net margin of 36.57%.The business's revenue was up 29.5% on a year-over-year basis. During the same period in the previous year, the firm posted $1.60 EPS. As a group, analysts expect that Broadcom Inc. will post 9.95 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The firm also recently announced 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 dividend payout ratio (DPR) is presently 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.