Novare Capital Management LLC Decreases Stock Holdings in Broadcom Inc. $AVGO

Key Points

• Novare Capital Management trimmed its Broadcom stake by 4.1% in the fourth quarter, selling 5,681 shares and leaving it with 132,578 shares valued at about $45.9 million.
• Institutional ownership in Broadcom remains high at 76.43%, and several other hedge funds recently increased their positions, showing continued investor interest in the stock.
• Broadcom continues to get support from both business developments and Wall Street: it announced new partnerships tied to VMware Cloud Foundation and AI packaging, while analysts maintain a Moderate Buy consensus with a $448.10 price target.

Novare Capital Management LLC lessened its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 4.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 132,578 shares of the semiconductor manufacturer's stock after selling 5,681 shares during the quarter. Broadcom comprises 3.4% of Novare Capital Management LLC's portfolio, making the stock its 6th biggest holding. Novare Capital Management LLC's holdings in Broadcom were worth $45,885,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Providence First Trust Co raised its holdings in shares of Broadcom by 1,099.3% during the 3rd quarter. Providence First Trust Co now owns 8,923 shares of the semiconductor manufacturer's stock worth $2,944,000 after acquiring an additional 8,179 shares in the last quarter. Whittier Trust Co. of Nevada Inc. raised its holdings in shares of Broadcom by 3.4% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 323,587 shares of the semiconductor manufacturer's stock worth $109,492,000 after acquiring an additional 10,786 shares in the last quarter. Lmcg Investments LLC raised its holdings in shares of Broadcom by 9.4% during the 3rd quarter. Lmcg Investments LLC now owns 38,961 shares of the semiconductor manufacturer's stock worth $12,854,000 after acquiring an additional 3,357 shares in the last quarter. Wright Investors Service Inc. raised its holdings in shares of Broadcom by 5.4% during the 3rd quarter. Wright Investors Service Inc. now owns 42,159 shares of the semiconductor manufacturer's stock worth $13,909,000 after acquiring an additional 2,178 shares in the last quarter. Finally, Brown Brothers Harriman & Co. raised its holdings in shares of Broadcom by 10.7% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 77,411 shares of the semiconductor manufacturer's stock worth $25,539,000 after acquiring an additional 7,499 shares in the last quarter. Institutional investors own 76.43% of the company's stock.

Broadcom News Roundup

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom deepened its relationship with the London Stock Exchange Group (LSEG) through a new five-year agreement centered on VMware Cloud Foundation, which should support recurring software revenue and highlights demand for Broadcom’s enterprise cloud and infrastructure products. Article Title
• Positive Sentiment: Applied Materials named Broadcom as an EPIC Innovation Partner, signaling collaboration on advanced packaging technologies that are critical for next-generation AI chips and systems. That reinforces Broadcom’s position as a key supplier in the AI infrastructure buildout. Article Title
• Positive Sentiment: Wall Street continues to view Broadcom favorably, with multiple recent analyst price targets raised or reiterated at bullish levels. Investors are still focusing on Broadcom’s AI exposure and custom chip momentum. Article Title
• Neutral Sentiment: A Zacks screen highlighted Broadcom as a high-ROE “cash cow” alongside other stocks that may hold up better during a tech slump. This is more of a relative-strength mention than a new company-specific catalyst. Article Title
• Neutral Sentiment: Another Zacks item discussed whether brokers’ opinions matter for Broadcom, but it did not add a clear new upgrade, downgrade, or earnings surprise. Article Title
• Neutral Sentiment: Broader market articles noted a selloff in major tech stocks and the Magnificent 7, which can weigh on AVGO sentiment even when company-specific news remains positive. Article Title
• Negative Sentiment: One Seeking Alpha piece argued that Broadcom’s AI visibility has improved, but the valuation multiple has not expanded as much as expected, suggesting some investor caution after the stock’s strong run. Article Title

Wall Street Analyst Weigh In

AVGO has been the topic of several recent research reports. Erste Group Bank cut Broadcom from a "buy" rating to a "hold" rating in a report on Thursday, April 2nd. Wells Fargo & Company reaffirmed an "overweight" rating and set a $545.00 price objective (up from $430.00) on shares of Broadcom in a report on Thursday, May 14th. Royal Bank Of Canada decreased their price objective on Broadcom from $370.00 to $340.00 and set a "sector perform" rating on the stock in a report on Monday, March 2nd. Morgan Stanley upped their price objective on Broadcom from $462.00 to $470.00 and gave the stock an "overweight" rating in a report on Friday, March 6th. Finally, Zacks Research raised Broadcom from a "hold" rating to a "strong-buy" rating in a report on Thursday, April 2nd. Two investment 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 company's stock. According to data from MarketBeat, Broadcom presently has a consensus rating of "Moderate Buy" and a consensus price target of $448.10.

Broadcom Stock Performance

NASDAQ AVGO opened at $417.76 on Thursday. The company has a market cap of $1.98 trillion, a P/E ratio of 81.59, a P/E/G ratio of 0.85 and a beta of 1.43. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.73 and a current ratio of 1.90. The business's 50 day moving average price is $370.41 and its 200-day moving average price is $355.37. Broadcom Inc. has a fifty-two week low of $226.18 and a fifty-two week high of $442.36.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its 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 firm had revenue of $19.31 billion for the quarter, compared to the consensus estimate of $19.10 billion. Broadcom had a return on equity of 38.61% and a net margin of 36.57%.The company's revenue for the quarter was up 29.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.60 EPS. Sell-side analysts predict that Broadcom Inc. will post 9.97 earnings per share for the current year.

Broadcom Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Monday, March 23rd were given a dividend of $0.65 per share. 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 payout ratio is currently 50.78%.

Insider Buying and Selling

In other Broadcom news, insider Charlie B. Kawwas sold 39,116 shares of the company's 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 transaction, the insider owned 74,626 shares of the company's stock, valued at $24,000,467.86. This represents a 34.39% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider S. Ram Velaga sold 38,841 shares of the company's stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $321.60, for a total value of $12,491,265.60. Following the completion of the transaction, the insider directly owned 96,147 shares in the company, valued at $30,920,875.20. This trade represents a 28.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 324,282 shares of company stock worth $106,425,249. 1.90% of the stock is owned by company 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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