Richard Bernstein Advisors LLC Sells 3,314 Shares of Broadcom Inc. $AVGO

Key Points

• Richard Bernstein Advisors LLC reduced its Broadcom stake by 9.3% in the fourth quarter, selling 3,314 shares and leaving it with 32,264 shares worth about $11.17 million.
• Broadcom continues to draw bullish analyst and AI-related attention, with Citi lifting its price target to $500 and citing continued AI demand and Broadcom’s role in custom AI silicon and infrastructure.
• Despite the positive outlook, there are signs of mixed sentiment: some investors trimmed holdings and Broadcom shares have eased after a strong run, even as the company reported solid quarterly results and maintained strong institutional ownership.

Richard Bernstein Advisors LLC cut its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 9.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,264 shares of the semiconductor manufacturer's stock after selling 3,314 shares during the period. Broadcom comprises approximately 0.3% of Richard Bernstein Advisors LLC's portfolio, making the stock its 24th biggest holding. Richard Bernstein Advisors LLC's holdings in Broadcom were worth $11,167,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of AVGO. Providence First Trust Co grew its holdings in Broadcom by 1,099.3% during the third quarter. Providence First Trust Co now owns 8,923 shares of the semiconductor manufacturer's stock valued at $2,944,000 after purchasing an additional 8,179 shares during the period. Whittier Trust Co. of Nevada Inc. grew its holdings in 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 valued at $109,492,000 after purchasing an additional 10,786 shares during the period. Lmcg Investments LLC grew its holdings in Broadcom by 9.4% during the third quarter. Lmcg Investments LLC now owns 38,961 shares of the semiconductor manufacturer's stock valued at $12,854,000 after purchasing an additional 3,357 shares during the period. Wright Investors Service Inc. grew its holdings in Broadcom by 5.4% during the third quarter. Wright Investors Service Inc. now owns 42,159 shares of the semiconductor manufacturer's stock valued at $13,909,000 after purchasing an additional 2,178 shares during the period. 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.

Key Headlines Impacting Broadcom

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

Insider Buying and Selling

In other Broadcom news, insider S. Ram Velaga sold 8,000 shares of the stock in a transaction on Friday, April 10th. The stock was sold at an average price of $370.52, for a total value of $2,964,160.00. Following the completion of the transaction, the insider owned 57,932 shares in the company, valued at approximately $21,464,964.64. This represents a 12.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gayla J. Delly sold 1,000 shares of the stock in a transaction on Thursday, April 9th. The stock was sold at an average price of $358.31, for a total value of $358,310.00. Following the completion of the transaction, the director owned 32,352 shares of the company's stock, valued at approximately $11,592,045.12. This trade represents a 3.00% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 324,282 shares of company stock valued at $106,425,249 over the last ninety days. Corporate insiders own 1.90% of the company's stock.

Analyst Upgrades and Downgrades

AVGO has been the topic of several recent research reports. Benchmark restated a "buy" rating and set a $485.00 target price on shares of Broadcom in a research report on Thursday, March 5th. Bank of America dropped their target price on Broadcom from $500.00 to $450.00 and set a "buy" rating on the stock in a research report on Thursday, March 5th. Morgan Stanley increased their target price on Broadcom from $462.00 to $470.00 and gave the stock an "overweight" rating in a research report on Friday, March 6th. Truist Financial increased their target price on Broadcom from $510.00 to $545.00 and gave the stock a "buy" rating in a research report on Thursday, March 5th. Finally, Rosenblatt Securities reiterated a "buy" rating and issued a $500.00 price objective on shares of Broadcom in a research report on Tuesday, April 7th. 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 stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $436.13.

Broadcom Stock Down 0.6%

NASDAQ AVGO opened at $416.79 on Thursday. 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 capitalization of $1.97 trillion, a PE ratio of 81.40, a PEG ratio of 0.87 and a beta of 1.43. Broadcom Inc. has a 1 year low of $221.60 and a 1 year high of $437.68. The business's 50-day moving average is $360.94 and its 200 day moving average is $353.52.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its 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. The company had revenue of $19.31 billion for the quarter, compared to analysts' expectations of $19.10 billion. Broadcom had a return on equity of 38.61% and a net margin of 36.57%.Broadcom's quarterly revenue was up 29.5% on a year-over-year basis. During the same period last year, the firm earned $1.60 earnings per share. Sell-side analysts forecast that Broadcom Inc. will post 9.95 earnings per share for the current year.

Broadcom Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Monday, March 23rd were paid a $0.65 dividend. 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 dividend payout ratio (DPR) is presently 50.78%.

Broadcom Company 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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