Gabelli Funds LLC Trims Stock Position in Broadcom Inc. $AVGO

Key Points

• Gabelli Funds LLC trimmed its Broadcom stake by 2.1% in the fourth quarter, selling 5,922 shares and leaving it with 278,681 shares valued at about $96.5 million.
• Broadcom continues to draw strong institutional and analyst interest, with hedge funds owning 76.43% of the stock and the consensus analyst rating still at Moderate Buy with a $448.10 price target.
• The company’s business momentum remains solid, as its latest quarter showed EPS and revenue above estimates and revenue growth of 29.5% year over year, while AI-related demand is fueling optimism about future growth.

Gabelli Funds LLC lessened its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 2.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 278,681 shares of the semiconductor manufacturer's stock after selling 5,922 shares during the period. Broadcom accounts for approximately 0.7% of Gabelli Funds LLC's portfolio, making the stock its 28th largest holding. Gabelli Funds LLC's holdings in Broadcom were worth $96,451,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of AVGO. Brighton Jones LLC lifted its holdings in shares of Broadcom by 21.8% in the fourth quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer's stock valued at $6,882,000 after purchasing an additional 5,322 shares in the last quarter. Revolve Wealth Partners LLC raised its position in shares of Broadcom by 10.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 7,997 shares of the semiconductor manufacturer's stock valued at $1,854,000 after buying an additional 756 shares during the last quarter. United Bank raised its position in shares of Broadcom by 76.5% in the first quarter. United Bank now owns 2,339 shares of the semiconductor manufacturer's stock valued at $392,000 after buying an additional 1,014 shares during the last quarter. Sivia Capital Partners LLC raised its position in shares of Broadcom by 10.1% in the second quarter. Sivia Capital Partners LLC now owns 12,693 shares of the semiconductor manufacturer's stock valued at $3,499,000 after buying an additional 1,160 shares during the last quarter. Finally, Capital & Planning LLC raised its position in shares of Broadcom by 10.5% in the second quarter. Capital & Planning LLC now owns 3,983 shares of the semiconductor manufacturer's stock valued at $1,098,000 after buying an additional 378 shares during the last quarter. Hedge funds and other institutional investors own 76.43% of the company's stock.

Insider Buying and Selling

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

Broadcom News Roundup

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom’s AI semiconductor business is showing rapid growth, with AI revenue more than doubling and stronger Q2 expectations tied to hyperscale demand. Broadcom Rides on Accelerating Semiconductor Revenues: What's Ahead?
• Positive Sentiment: Analysts continue to highlight Broadcom as one of Goldman Sachs’ strongest AI infrastructure bets, reinforcing optimism around its role in AI chips and networking. Why Broadcom (AVGO) Remains One of Goldman’s Strongest AI Infrastructure Bets
• Positive Sentiment: Broadcom is expanding its AI ecosystem through a $125 million research and talent hub with Meta and UCLA, plus packaging work with Applied Materials, which could support long-term growth. Broadcom’s AI Research Push Links Chip Packaging Advances To Growth Story
• Positive Sentiment: Several articles and analyst notes point to strong long-term upside, with Broadcom repeatedly described as a durable AI winner and a solid growth stock. Is Broadcom Inc. (AVGO) a Solid Growth Stock? 3 Reasons to Think "Yes"
• Neutral Sentiment: Commentary about Broadcom’s stock price in 2030 reflects bullish long-term AI expectations, but it does not appear to be a near-term catalyst. This Will be Broadcom’s Stock Price In 2030
• Neutral Sentiment: Broader market commentary and inflation worries have also been mentioned, but these articles do not identify a Broadcom-specific problem. Inflation Fears Weighed on Broadcom (AVGO) in Q1
• Negative Sentiment: One recent note says Broadcom remains “overcrowded,” suggesting valuation or positioning risk after a strong rally. Broadcom Is Far Too Overcrowded
• Negative Sentiment: Broadcom has also faced some regulatory scrutiny in the EU, which could create headline risk even as AI sentiment stays positive. Broadcom Inc. (AVGO) Challenges EU Regulators While Barclays Sees AI Upside

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on AVGO shares. Weiss Ratings lowered shares of Broadcom from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Friday, April 24th. 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 report on Thursday, March 5th. Rosenblatt Securities reissued a "buy" rating and issued a $500.00 price objective on shares of Broadcom in a research report on Tuesday, April 7th. Royal Bank Of Canada cut 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 report on Monday, March 2nd. Finally, Bank of America cut their price objective on shares of Broadcom from $500.00 to $450.00 and set a "buy" rating for the company in a research report on Thursday, March 5th. Two analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $448.10.

Broadcom Stock Performance

NASDAQ:AVGO opened at $414.14 on Friday. 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 has a market cap of $1.96 trillion, a P/E ratio of 80.89, a P/E/G ratio of 0.86 and a beta of 1.43. Broadcom Inc. has a fifty-two week low of $226.18 and a fifty-two week high of $442.36. The firm's 50 day moving average is $373.30 and its two-hundred day moving average is $356.09.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted 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. The company had revenue of $19.31 billion for the quarter, compared to the consensus estimate of $19.10 billion. Broadcom had a net margin of 36.57% and a return on equity of 38.61%. Broadcom's revenue was up 29.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.60 earnings per share. Analysts expect that Broadcom Inc. will post 9.91 EPS for the current year.

Broadcom Dividend Announcement

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

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