Novem Group Trims Stake in Broadcom Inc. $AVGO

Novem Group reduced its position in Broadcom Inc. (NASDAQ:AVGO) by 25.3% during the fourth quarter, HoldingsChannel.com reports. The firm owned 22,835 shares of the semiconductor manufacturer’s stock after selling 7,721 shares during the period. Broadcom makes up 0.9% of Novem Group’s portfolio, making the stock its 25th biggest position. Novem Group’s holdings in Broadcom were worth $7,903,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AVGO. Providence First Trust Co increased its position 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 acquiring an additional 8,179 shares during the period. Whittier Trust Co. of Nevada Inc. increased its position 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 acquiring an additional 10,786 shares during the period. Lmcg Investments LLC increased its position 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 acquiring an additional 3,357 shares during the period. Wright Investors Service Inc. increased its position 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 acquiring an additional 2,178 shares during the period. Finally, Brown Brothers Harriman & Co. increased its position in shares of Broadcom by 10.7% during the third 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 during the period. 76.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

AVGO has been the topic of a number of research reports. JPMorgan Chase & Co. raised their target price 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. Zacks Research raised shares of Broadcom from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 2nd. Mizuho reaffirmed an “outperform” rating and set a $480.00 target price on shares of Broadcom in a research report on Thursday, April 16th. Weiss Ratings downgraded shares of Broadcom from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday. Finally, Erste Group Bank downgraded shares of Broadcom from a “buy” rating to a “hold” rating in a research note on Thursday, April 2nd. Two research analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $435.30.

Insider Buying and Selling

In other Broadcom news, insider Mark David Brazeal sold 50,488 shares of the firm’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 $16,236,940.80. Following the completion of the sale, the insider directly owned 278,141 shares in the company, valued at $89,450,145.60. This trade represents a 15.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Justine Page sold 2,018 shares of the firm’s stock in a transaction that occurred on Wednesday, April 8th. The shares were sold at an average price of $353.00, for a total transaction of $712,354.00. Following the completion of the sale, the director owned 18,164 shares of the company’s stock, valued at approximately $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. Insiders sold 324,282 shares of company stock valued at $106,425,249 over the last quarter. Insiders own 1.90% of the company’s stock.

Broadcom Price Performance

NASDAQ AVGO opened at $399.83 on Wednesday. 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 firm’s 50 day moving average price is $344.25 and its 200-day moving average price is $348.93. Broadcom Inc. has a 52-week low of $184.02 and a 52-week high of $429.31. The company has a market cap of $1.89 trillion, a PE ratio of 78.09, a P/E/G ratio of 0.86 and a beta of 1.24.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $19.10 billion. During the same period last year, the firm earned $1.60 earnings per share. The company’s quarterly revenue was up 29.5% on a year-over-year basis. Sell-side analysts forecast that Broadcom Inc. will post 9.95 EPS for the current fiscal year.

Broadcom Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Monday, March 23rd were paid a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 0.7%. The ex-dividend date was Monday, March 23rd. Broadcom’s dividend payout ratio (DPR) is 50.78%.

More Broadcom News

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Big partner momentum — Broadcom’s rally has been bolstered by partnership/news flow (notably Google’s new AI chip roadmap) that helped push the stock to record market‑cap levels, reinforcing the company’s custom AI-silicon narrative. Read More.
• Positive Sentiment: Strong analyst conviction — Street coverage is overwhelmingly bullish (most analysts rate AVGO a Buy and 12‑month targets imply double‑digit upside), which underpins longer‑term demand from institutions. Read More.
• Positive Sentiment: Upgraded price‑target narratives and bullish writeups are feeding momentum trades and ETF inflows into semiconductors, supporting AVGO’s valuation case amid strong revenue growth and expanding custom‑silicon sales. Read More.
• Neutral Sentiment: Semi/AI ETF dynamics are amplifying moves both ways — sector ETFs and momentum products have been heavy buyers recently, which can accelerate upside but also amplify volatility on headlines. Read More.
• Negative Sentiment: OpenAI miss spooked the AI infrastructure trade — reports that OpenAI missed internal user/revenue goals rattled hyperscaler capex expectations and triggered a sector pullback that pressured Broadcom along with other AI‑exposed chip names. Read More.
• Negative Sentiment: Broad sector weakness — broader declines in AI chip leaders (reported by Barron’s) and short‑term technical/profit‑taking flows have pulled AVGO down despite the positive fundamentals. Read More.
• Negative Sentiment: Near‑term trading volatility: market‑timed pullbacks and headline risk are already reflected in recent intraday declines — watch quarterly cadence, hyperscaler order disclosures, and any update on customer concentration risk. Read More.

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.