Mirabaud Asset Management Ltd Sells 1,587 Shares of Broadcom Inc. $AVGO

Key Points

• Mirabaud Asset Management cut its Broadcom stake by 18.4% in the fourth quarter, selling 1,587 shares and leaving it with 7,046 shares valued at about $2.44 million.
• Broadcom’s latest quarterly results beat expectations, with EPS of $2.05 versus $2.03 expected and revenue of $19.31 billion, up 29.5% year over year.
• Analysts remain upbeat on Broadcom’s AI exposure, with multiple firms raising price targets amid strong demand for AI semiconductors, though some caution that the stock may be a crowded trade.

Mirabaud Asset Management Ltd lowered its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 18.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 7,046 shares of the semiconductor manufacturer's stock after selling 1,587 shares during the quarter. Broadcom comprises approximately 1.1% of Mirabaud Asset Management Ltd's investment portfolio, making the stock its 24th biggest holding. Mirabaud Asset Management Ltd's holdings in Broadcom were worth $2,439,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of AVGO. Arrowstreet Capital Limited Partnership lifted its stake in Broadcom by 499.4% in the third quarter. Arrowstreet Capital Limited Partnership now owns 5,634,232 shares of the semiconductor manufacturer's stock valued at $1,858,789,000 after buying an additional 4,694,313 shares in the last quarter. Vanguard Group Inc. lifted its stake in Broadcom by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 482,707,302 shares of the semiconductor manufacturer's stock valued at $167,064,997,000 after buying an additional 3,919,715 shares in the last quarter. Nordea Investment Management AB lifted its stake in Broadcom by 47.5% in the fourth quarter. Nordea Investment Management AB now owns 9,814,757 shares of the semiconductor manufacturer's stock valued at $3,406,211,000 after buying an additional 3,160,586 shares in the last quarter. Danske Bank A S bought a new position in Broadcom in the third quarter valued at approximately $987,488,000. Finally, PFA Pension Forsikringsaktieselskab bought a new stake in shares of Broadcom in the fourth quarter worth $924,858,000. Institutional investors own 76.43% of the company's stock.

Broadcom Stock Performance

NASDAQ AVGO opened at $425.19 on Friday. The company has a current ratio of 1.90, a quick ratio of 1.73 and a debt-to-equity ratio of 0.80. The firm's fifty day moving average price is $365.61 and its two-hundred day moving average price is $354.62. Broadcom Inc. has a 1 year low of $221.60 and a 1 year high of $442.36. The firm has a market capitalization of $2.01 trillion, a P/E ratio of 83.05, a price-to-earnings-growth ratio of 0.88 and a beta of 1.43.

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 (EPS) for the quarter, topping 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 firm had revenue of $19.31 billion for the quarter, compared to analyst estimates of $19.10 billion. During the same period in the prior year, the firm posted $1.60 earnings per share. The company's quarterly revenue was up 29.5% compared to the same quarter last year. As a group, research analysts anticipate that Broadcom Inc. will post 9.95 EPS for the current year.

Broadcom Announces Dividend

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

Key Stories Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom remains a favored way to play AI infrastructure, with multiple recent articles highlighting its growing exposure to custom AI silicon, data-center networking, and AI semiconductor revenue. Citi also raised its price target to $500, reinforcing optimism ahead of the next earnings report.
• Positive Sentiment: Wells Fargo lifted its price target to $545 and said AI semiconductor revenue is running 30% to 40% above expectations, suggesting Broadcom may still be benefiting from stronger-than-expected hyperscaler spending.
• Positive Sentiment: Recent investor interest has also been supportive, with hedge fund and prominent manager buying cited in several notes, alongside Broadcom being named among top tech stocks to own as AI optimism continues to drive the market.
• Neutral Sentiment: Broadcom was also mentioned in a broader AI rotation piece that argues the next leg of the rally may be in AI bottlenecks such as optics, networking, and memory rather than only the most obvious chip winners. Broadcom was specifically named as one of the companies positioned to benefit from optical interconnect demand.
• Negative Sentiment: UBS warned that AI stocks, including Broadcom, are increasingly crowded trades, raising the risk of a pullback if enthusiasm cools or if investors rotate out of mega-cap semiconductors.
• Negative Sentiment: Some commentary also suggests the AI chip rally may be masking broader market weakness, which can make even strong names like Broadcom vulnerable to profit-taking after a powerful advance.

Insider Activity

In other Broadcom news, Director Gayla J. Delly sold 1,000 shares of the company's stock in a transaction on Thursday, April 9th. The shares were sold at an average price of $358.31, for a total transaction of $358,310.00. Following the sale, the director directly owned 32,352 shares of the company's stock, valued at approximately $11,592,045.12. This represents a 3.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Justine Page sold 2,018 shares of the company's stock in a transaction on Wednesday, April 8th. The stock was sold at an average price of $353.00, for a total transaction of $712,354.00. Following the sale, the director directly owned 18,164 shares in the company, valued at $6,411,892. This trade represents a 10.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 324,282 shares of company stock valued at $106,425,249. 1.90% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on AVGO. Bank of America cut their price objective on shares of Broadcom from $500.00 to $450.00 and set a "buy" rating on the stock in a research report on Thursday, March 5th. DA Davidson raised shares of Broadcom to a "hold" rating in a research report on Friday, February 13th. JPMorgan Chase & Co. boosted their price objective on shares of Broadcom from $475.00 to $500.00 and gave the stock an "overweight" rating in a research report on Thursday, March 5th. TD Cowen reissued a "buy" rating and issued a $500.00 price objective (up from $405.00) on shares of Broadcom in a research report on Friday. Finally, Morgan Stanley boosted 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. Two research analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, Broadcom has an average rating of "Moderate Buy" and a consensus target price of $441.63.

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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