NewEdge Wealth LLC Raises Position in Broadcom Inc. $AVGO

Key Points

• NewEdge Wealth LLC increased its Broadcom stake by 18.9% in the fourth quarter, buying 74,569 more shares and bringing its total to 469,277 shares worth about $162.4 million.
• Broadcom continues to attract heavy institutional interest, with firms like Vanguard, Invesco, and others also boosting holdings; overall, institutions own 76.43% of the company.
• Analysts remain broadly positive on AVGO, with a Moderate Buy consensus and an average price target of $441.63, while recent commentary highlights strong AI-related demand and higher target prices from firms like Wells Fargo and Citi.

NewEdge Wealth LLC boosted its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 18.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 469,277 shares of the semiconductor manufacturer's stock after purchasing an additional 74,569 shares during the period. Broadcom comprises 1.8% of NewEdge Wealth LLC's portfolio, making the stock its 6th largest holding. NewEdge Wealth LLC's holdings in Broadcom were worth $162,417,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in Broadcom by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 482,707,302 shares of the semiconductor manufacturer's stock worth $167,064,997,000 after acquiring an additional 3,919,715 shares during the period. Invesco Ltd. raised its position in Broadcom by 1.8% in the third quarter. Invesco Ltd. now owns 39,149,651 shares of the semiconductor manufacturer's stock worth $12,915,861,000 after acquiring an additional 700,021 shares during the period. Legal & General Group Plc raised its position in Broadcom by 2.3% in the third quarter. Legal & General Group Plc now owns 33,450,786 shares of the semiconductor manufacturer's stock worth $11,035,749,000 after acquiring an additional 748,709 shares during the period. Franklin Resources Inc. raised its position in Broadcom by 4.0% in the third quarter. Franklin Resources Inc. now owns 29,511,195 shares of the semiconductor manufacturer's stock worth $9,736,038,000 after acquiring an additional 1,124,590 shares during the period. Finally, Amundi raised its position in Broadcom by 3.3% in the third quarter. Amundi now owns 22,216,816 shares of the semiconductor manufacturer's stock worth $7,453,320,000 after acquiring an additional 716,523 shares during the period. Institutional investors own 76.43% of the company's stock.

Analysts Set New Price Targets

Several research analysts have weighed in on AVGO shares. DA Davidson upgraded shares of Broadcom to a "hold" rating in a research report on Friday, February 13th. Seaport Research Partners reiterated a "neutral" rating on shares of Broadcom in a research report on Wednesday, April 8th. Morgan Stanley increased their price target 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. Wolfe Research upgraded shares of Broadcom from a "peer perform" rating to an "outperform" rating and set a $400.00 price target on the stock in a research report on Friday, January 30th. Finally, TD Cowen reiterated a "buy" rating and issued a $500.00 price target (up from $405.00) on shares of Broadcom in a research report on Friday. Two investment analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $441.63.

Broadcom News Summary

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 at Broadcom

In related news, insider S. Ram Velaga sold 38,841 shares of the firm's stock in a transaction 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 of the company's stock, 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 legal filing with the SEC, which is accessible through this link. Also, insider Mark David Brazeal sold 50,488 shares of the firm's stock in a transaction 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 transaction, the insider directly owned 278,141 shares of the company's stock, valued at $89,450,145.60. The trade was a 15.36% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 324,282 shares of company stock valued at $106,425,249. Insiders own 1.90% of the company's stock.

Broadcom Stock Performance

Shares of NASDAQ AVGO opened at $425.19 on Friday. The firm has a fifty day moving average price of $365.61 and a 200-day moving average price of $354.62. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.90 and a quick ratio of 1.73. The stock has a market cap of $2.01 trillion, a PE ratio of 83.05, a price-to-earnings-growth ratio of 0.91 and a beta of 1.43. Broadcom Inc. has a 1 year low of $221.60 and a 1 year high of $442.36.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its quarterly earnings data on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.03 by $0.02. The firm 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 company's revenue for the quarter was up 29.5% compared to the same quarter last year. During the same period in the prior year, the company posted $1.60 earnings per share. Equities analysts anticipate that Broadcom Inc. will post 9.95 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Monday, March 23rd were paid 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 (DPR) is presently 50.78%.

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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