Narwhal Capital Management Sells 9,293 Shares of Broadcom Inc. $AVGO

Key Points

• Narwhal Capital Management cut its stake in Broadcom by 20.2%, selling 9,293 shares in Q4 and now holds 36,670 shares valued at about $12.69 million (roughly 0.9% of the fund, its 27th-largest position).
• Broadcom's outlook is driven by management guidance pointing to rapid AI-driven revenue growth, product momentum like VMware Cloud Foundation 9.1, and strong quarterly results (revenue +29.5% YoY, net margin ~36.6%).
• Insider selling has been significant—CFO and other insiders recently sold large blocks (36,292 and 50,488 shares) and insiders sold 324,282 shares (~$106M) over the last 90 days—while institutional ownership is 76.43% and analysts' consensus is a "Moderate Buy" with an average target of $435.30.

Narwhal Capital Management cut its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 20.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 36,670 shares of the semiconductor manufacturer's stock after selling 9,293 shares during the period. Broadcom accounts for about 0.9% of Narwhal Capital Management's investment portfolio, making the stock its 27th biggest position. Narwhal Capital Management's holdings in Broadcom were worth $12,691,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. Providence First Trust Co raised its stake in shares of Broadcom by 1,099.3% during the third quarter. Providence First Trust Co now owns 8,923 shares of the semiconductor manufacturer's stock worth $2,944,000 after buying an additional 8,179 shares during the last quarter. Whittier Trust Co. of Nevada Inc. raised its stake in shares of Broadcom by 3.4% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 323,587 shares of the semiconductor manufacturer's stock worth $109,492,000 after buying an additional 10,786 shares during the last quarter. Lmcg Investments LLC raised its stake in shares of Broadcom by 9.4% during the third quarter. Lmcg Investments LLC now owns 38,961 shares of the semiconductor manufacturer's stock worth $12,854,000 after buying an additional 3,357 shares during the last quarter. Wright Investors Service Inc. raised its stake in shares of Broadcom by 5.4% during the third quarter. Wright Investors Service Inc. now owns 42,159 shares of the semiconductor manufacturer's stock worth $13,909,000 after buying an additional 2,178 shares during the last quarter. Finally, Brown Brothers Harriman & Co. grew its holdings in Broadcom by 10.7% during the third quarter. Brown Brothers Harriman & Co. now owns 77,411 shares of the semiconductor manufacturer's stock valued at $25,539,000 after purchasing an additional 7,499 shares during the period. 76.43% of the stock is owned by institutional investors.

Broadcom News Roundup

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Management guidance and commentary continue to point to rapid AI-driven revenue growth, reinforcing the company’s core growth narrative and supporting premium multiples. MSN: Broadcom guidance reveals breakneck AI revenue growth TheStreet: Broadcom guidance reveals one signal
• Positive Sentiment: Broadcom is cited as a hyperscale customer in Corning’s large fiber/pipeline contracts, which signals sustained capital spending across data-center supply chains that benefits Broadcom’s infrastructure franchise. MarketBeat: Corning article referencing Broadcom
• Positive Sentiment: Product/integration momentum: Broadcom announced VMware Cloud Foundation 9.1 aimed at production AI infrastructure, underscoring the software + silicon positioning that can deepen customer relationships and recurring revenue. GlobeNewswire: VMware Cloud Foundation 9.1
• Neutral Sentiment: Analyst write-ups and screens (Zacks and other outlets) highlight AVGO as a trending/high‑ROE/dividend-growth name — bullish narratives that may already be priced in after recent gains. Zacks: AVGO trending stock
• Neutral Sentiment: Broadcom was part of a broader “hot chip” rally that pushed several names to 52‑week highs; sector momentum helps AVGO but also raises short‑term volatility and profit‑taking risk. MSN: 52-week highs amid hot chip rally
• Negative Sentiment: Technical/competitive risk: packaging and interposer dynamics in high‑end AI chips (e.g., alternatives like Intel’s EMIB approach) could shift design wins or cost structures in ways that affect share of wallet for certain ecosystem players. 247WallSt: AI chip packaging constraints / Intel EMIB

Broadcom Stock Down 0.4%

Broadcom stock opened at $425.44 on Thursday. The stock has a market capitalization of $2.01 trillion, a PE ratio of 83.09, a price-to-earnings-growth ratio of 0.88 and a beta of 1.43. Broadcom Inc. has a twelve month low of $198.43 and a twelve month high of $437.68. 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 50 day moving average of $351.15 and a 200-day moving average of $350.83.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its quarterly earnings results 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 company had revenue of $19.31 billion during the quarter, compared to analysts' expectations of $19.10 billion. Broadcom had a net margin of 36.57% and a return on equity of 38.61%. The business's quarterly revenue was up 29.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.60 earnings per share. On average, equities research analysts anticipate that Broadcom Inc. will post 9.95 EPS for the current fiscal year.

Broadcom Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders 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%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Rosenblatt Securities restated a "buy" rating and set a $500.00 price objective on shares of Broadcom in a report on Tuesday, April 7th. Bank of America decreased their price objective on shares of Broadcom from $500.00 to $450.00 and set a "buy" rating for the company in a report on Thursday, March 5th. Weiss Ratings cut shares of Broadcom from a "buy (b-)" rating to a "hold (c+)" rating in a report on Friday, April 24th. Royal Bank Of Canada decreased their price objective on shares of Broadcom from $370.00 to $340.00 and set a "sector perform" rating for the company in a report on Monday, March 2nd. Finally, Wolfe Research upgraded shares of Broadcom from a "peer perform" rating to an "outperform" rating and set a $400.00 price objective for the company in a report on Friday, January 30th. 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 company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $435.30.

Insider Activity at Broadcom

In other news, CFO Kirsten M. Spears sold 36,292 shares of the company's stock in a transaction that occurred 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 owned 327,760 shares in the company, valued at $105,407,616. This represents a 9.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Mark David Brazeal sold 50,488 shares of the company's 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 $16,236,940.80. Following the completion of the transaction, the insider owned 278,141 shares of the company's stock, valued at $89,450,145.60. This trade represents a 15.36% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 324,282 shares of company stock worth $106,425,249 over the last ninety days. 1.90% of the stock is owned by corporate insiders.

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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