Broadcom Inc. $AVGO Shares Sold by Providence First Trust Co

Providence First Trust Co cut its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 44.2% during the fourth quarter, Holdings Channel reports. The firm owned 4,981 shares of the semiconductor manufacturer’s stock after selling 3,942 shares during the quarter. Providence First Trust Co’s holdings in Broadcom were worth $1,724,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. JCIC Asset Management Inc. acquired a new stake in Broadcom during the 3rd quarter worth about $31,000. Miller Global Investments LLC acquired a new position in shares of Broadcom in the fourth quarter worth about $31,000. Nvest Wealth Strategies Inc. acquired a new position in shares of Broadcom in the fourth quarter worth about $33,000. Manning & Napier Advisors LLC purchased a new position in shares of Broadcom in the third quarter worth approximately $34,000. Finally, Family CFO Inc purchased a new position in shares of Broadcom in the fourth quarter worth approximately $35,000. 76.43% of the stock is owned by hedge funds and other institutional investors.

Broadcom Stock Down 2.1%

AVGO stock opened at $419.30 on Wednesday. The company has a 50 day moving average of $358.98 and a two-hundred day moving average of $353.01. The company has a market cap of $1.99 trillion, a price-to-earnings ratio of 81.89, a PEG ratio of 0.89 and a beta of 1.43. Broadcom Inc. has a 12-month low of $221.60 and a 12-month high of $437.68. The company has a quick ratio of 1.73, a current ratio of 1.90 and a debt-to-equity ratio of 0.80.

Broadcom (NASDAQ:AVGO) last posted 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. Broadcom had a net margin of 36.57% and a return on equity of 38.61%. The business had revenue of $19.31 billion for the quarter, compared to analysts’ expectations of $19.10 billion. During the same period in the previous year, the company posted $1.60 EPS. Broadcom’s revenue was up 29.5% on a year-over-year basis. On average, equities analysts anticipate that Broadcom Inc. will post 9.95 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Investors 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 dividend on an annualized basis and a yield of 0.6%. Broadcom’s dividend payout ratio is currently 50.78%.

Key Broadcom News

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, citing strong AI demand and expectations for another strong quarter. Citi Raises Broadcom Price Target to $500: AI Demand Sets Up Another Big April Quarter
• Positive Sentiment: Other Wall Street coverage also pointed to continued upside for Broadcom, reflecting optimism around its AI infrastructure exposure and earnings outlook. Wall Street sets Broadcom (AVGO) stock price for the next 12 months
• Positive Sentiment: Zacks highlighted Broadcom’s strong earnings-surprise history and said the company appears well-positioned to beat estimates again in its next report. Will Broadcom Inc. (AVGO) Beat Estimates Again in Its Next Earnings Report?
• Neutral Sentiment: Broadcom’s latest stock move also appears tied to a recent run-up, with one article saying investors were taking profits after a large AI-driven rally rather than reacting to a fundamental deterioration. Why analysts are bullish on Broadcom stock despite a 4% fall today?
• Neutral Sentiment: Several hedge-fund and institutional filings showed mixed activity in Broadcom, with some firms trimming holdings while Mirova US LLC added shares; these moves are notable but not necessarily a direct signal on the company’s fundamentals. PRIMECAP Management Co trims Broadcom stake by 12,410 shares Cincinnati Specialty Underwriters slashes Broadcom stake by 207K shares Mirova US LLC Boosts Broadcom Stake by 183,850 Shares

Wall Street Analysts Forecast Growth

AVGO has been the subject of several research analyst reports. Citigroup restated a “buy” rating and issued a $500.00 price target (up from $475.00) on shares of Broadcom in a research report on Tuesday. Mizuho reissued an “outperform” rating and set a $480.00 target price on shares of Broadcom in a research note on Thursday, April 16th. Bank of America reduced their target price on Broadcom from $500.00 to $450.00 and set a “buy” rating for the company in a report on Thursday, March 5th. Seaport Research Partners reiterated a “neutral” rating on shares of Broadcom in a report on Wednesday, April 8th. Finally, Erste Group Bank lowered Broadcom from a “buy” rating to a “hold” rating in a research 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. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $436.13.

Insider Buying and Selling at Broadcom

In other Broadcom news, CFO Kirsten M. Spears sold 36,292 shares of the firm’s stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $321.60, for a total transaction of $11,671,507.20. Following the transaction, the chief financial officer directly owned 327,760 shares in the company, valued at $105,407,616. This trade represents a 9.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Charlie B. Kawwas sold 39,116 shares of the firm’s stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $321.61, 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. The trade was a 34.39% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 324,282 shares of company stock valued at $106,425,249. Corporate insiders own 1.90% of the company’s stock.

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.