Premier Fund Managers Ltd Decreases Stake in Broadcom Inc. $AVGO

Premier Fund Managers Ltd decreased its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 47.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 43,164 shares of the semiconductor manufacturer’s stock after selling 39,206 shares during the period. Premier Fund Managers Ltd’s holdings in Broadcom were worth $15,104,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. Retirement Planning Group LLC lifted its position in shares of Broadcom by 7.4% during the fourth quarter. Retirement Planning Group LLC now owns 6,147 shares of the semiconductor manufacturer’s stock worth $2,128,000 after purchasing an additional 425 shares during the last quarter. WealthShield Partners LLC lifted its position in shares of Broadcom by 1.5% during the fourth quarter. WealthShield Partners LLC now owns 18,795 shares of the semiconductor manufacturer’s stock worth $6,505,000 after purchasing an additional 284 shares during the last quarter. Morton Capital Management LLC CA lifted its position in shares of Broadcom by 2.2% during the fourth quarter. Morton Capital Management LLC CA now owns 4,384 shares of the semiconductor manufacturer’s stock worth $1,517,000 after purchasing an additional 93 shares during the last quarter. D.B. Root & Company LLC lifted its position in shares of Broadcom by 5.7% during the fourth quarter. D.B. Root & Company LLC now owns 6,486 shares of the semiconductor manufacturer’s stock worth $2,245,000 after purchasing an additional 348 shares during the last quarter. Finally, Gateway Investment Advisers LLC lifted its position in shares of Broadcom by 0.7% during the fourth quarter. Gateway Investment Advisers LLC now owns 827,745 shares of the semiconductor manufacturer’s stock worth $286,483,000 after purchasing an additional 5,759 shares during the last quarter. Institutional investors own 76.43% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on AVGO shares. Bank of America reduced their price target on shares of Broadcom from $500.00 to $450.00 and set a “buy” rating on the stock in a research report on Thursday, March 5th. Mizuho reiterated an “outperform” rating and set a $480.00 price objective on shares of Broadcom in a research note on Thursday, April 16th. Zacks Research upgraded shares of Broadcom from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 2nd. Royal Bank Of Canada dropped their price objective on shares of Broadcom from $370.00 to $340.00 and set a “sector perform” rating on the stock in a research note on Monday, March 2nd. Finally, Wells Fargo & Company upgraded shares of Broadcom from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $410.00 to $430.00 in a research note on Thursday, January 15th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $436.13.

Insider Activity at Broadcom

In other news, insider Charlie B. Kawwas sold 39,116 shares of the stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $321.61, for a total value of $12,580,096.76. Following the completion of the transaction, the insider directly owned 74,626 shares in the company, valued at $24,000,467.86. This trade represents a 34.39% 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 S. Ram Velaga sold 38,841 shares of the firm’s stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $321.60, for a total transaction of $12,491,265.60. Following the sale, the insider owned 96,147 shares of the company’s stock, valued at $30,920,875.20. The trade was a 28.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 324,282 shares of company stock valued at $106,425,249. Insiders own 1.90% of the company’s stock.

Broadcom Price Performance

Shares of NASDAQ:AVGO opened at $416.79 on Thursday. The firm’s 50 day moving average is $360.94 and its two-hundred day moving average is $353.52. Broadcom Inc. has a 52 week low of $221.60 and a 52 week high of $437.68. The firm has a market capitalization of $1.97 trillion, a P/E ratio of 81.40, a PEG ratio of 0.87 and a beta of 1.43. The company has a current ratio of 1.90, a quick ratio of 1.73 and a debt-to-equity ratio of 0.80.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 EPS for the quarter, beating the consensus estimate of $2.03 by $0.02. The company had revenue of $19.31 billion for the quarter, compared to analyst estimates of $19.10 billion. Broadcom had a net margin of 36.57% and a return on equity of 38.61%. Broadcom’s revenue was up 29.5% compared to the same quarter last year. During the same quarter last year, the business earned $1.60 earnings per share. Analysts anticipate that Broadcom Inc. will post 9.95 earnings per share for the current year.

Broadcom Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Monday, March 23rd were issued a $0.65 dividend. The ex-dividend date 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 50.78%.

Broadcom News Roundup

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

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.