Lmcg Investments LLC Lowers Stock Position in Broadcom Inc. $AVGO

Key Points

• Lmcg Investments LLC cut its Broadcom stake by 4.1% in the fourth quarter, selling 1,613 shares and ending with 37,348 shares valued at about $12.9 million.
• Broadcom continues to attract strong institutional interest overall, with hedge funds and asset managers like Vanguard and Arrowstreet making large or added positions; institutional investors now own 76.43% of the company.
• The stock has been supported by upbeat fundamentals and analyst sentiment: Broadcom beat quarterly earnings and revenue estimates, raised its dividend, and Citi lifted its price target to $500 while reaffirming a Buy rating on AI-driven demand.

Lmcg Investments LLC lessened its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 4.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 37,348 shares of the semiconductor manufacturer's stock after selling 1,613 shares during the period. Lmcg Investments LLC's holdings in Broadcom were worth $12,926,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Arrowstreet Capital Limited Partnership raised its position in Broadcom by 499.4% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 5,634,232 shares of the semiconductor manufacturer's stock worth $1,858,789,000 after buying an additional 4,694,313 shares during the last quarter. Vanguard Group Inc. increased its position 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 purchasing an additional 3,919,715 shares during the last quarter. Nordea Investment Management AB increased its position 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 purchasing an additional 3,160,586 shares during the last quarter. Danske Bank A S bought a new position in shares of Broadcom during the 3rd quarter valued at approximately $987,488,000. Finally, PFA Pension Forsikringsaktieselskab bought a new position in shares of Broadcom during the 4th quarter valued at approximately $924,858,000. Institutional investors own 76.43% of the company's stock.

Broadcom News Summary

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

Insiders Place Their Bets

In related news, insider Charlie B. Kawwas sold 39,116 shares of the stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $321.61, for a total value of $12,580,096.76. Following the completion of the transaction, the insider directly owned 74,626 shares of the company's stock, valued at approximately $24,000,467.86. This represents a 34.39% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kirsten M. Spears sold 36,292 shares of the stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $321.60, for a total value of $11,671,507.20. Following the completion of the transaction, the chief financial officer directly owned 327,760 shares of the company's stock, valued at approximately $105,407,616. This represents a 9.97% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 324,282 shares of company stock valued at $106,425,249. Corporate insiders own 1.90% of the company's stock.

Broadcom Trading Down 0.6%

Shares of NASDAQ:AVGO opened at $416.79 on Thursday. Broadcom Inc. has a 12-month low of $221.60 and a 12-month high of $437.68. The company has a market capitalization of $1.97 trillion, a PE ratio of 81.40, a PEG ratio of 0.87 and a beta of 1.43. 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 current ratio of 1.90, a quick ratio of 1.73 and a debt-to-equity ratio of 0.80.

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, beating analysts' consensus estimates 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 previous year, the company posted $1.60 earnings per share. Broadcom's revenue for the quarter was up 29.5% on a year-over-year basis. As a group, analysts forecast that Broadcom Inc. will post 9.95 EPS for the current year.

Broadcom Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Monday, March 23rd were paid 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 of this dividend was Monday, March 23rd. Broadcom's dividend payout ratio is presently 50.78%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on AVGO. Citigroup reiterated a "buy" rating and set a $500.00 price objective (up from $475.00) on shares of Broadcom in a research note on Tuesday. DA Davidson raised shares of Broadcom to a "hold" rating in a report on Friday, February 13th. Benchmark reissued a "buy" rating and issued a $485.00 target price on shares of Broadcom in a report on Thursday, March 5th. Truist Financial raised their price target on Broadcom from $510.00 to $545.00 and gave the stock a "buy" rating in a research report on Thursday, March 5th. Finally, Bank of America cut their target price on Broadcom from $500.00 to $450.00 and set a "buy" rating on the stock in a research note on Thursday, March 5th. Two 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 stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $436.13.

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.

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.