Broadcom Inc. $AVGO Shares Sold by Avalon Trust Co

Avalon Trust Co reduced its holdings in Broadcom Inc. (NASDAQ:AVGO) by 10.4% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 297,552 shares of the semiconductor manufacturer’s stock after selling 34,471 shares during the quarter. Broadcom comprises 6.3% of Avalon Trust Co’s holdings, making the stock its 4th largest holding. Avalon Trust Co’s holdings in Broadcom were worth $92,095,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of Broadcom by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 482,707,302 shares of the semiconductor manufacturer’s stock valued at $167,064,997,000 after acquiring an additional 3,919,715 shares in the last quarter. State Street Corp grew its position in Broadcom by 2.7% in the 4th quarter. State Street Corp now owns 190,084,351 shares of the semiconductor manufacturer’s stock valued at $65,788,194,000 after purchasing an additional 5,040,801 shares during the period. Geode Capital Management LLC grew its position in Broadcom by 1.4% in the 4th quarter. Geode Capital Management LLC now owns 111,277,280 shares of the semiconductor manufacturer’s stock valued at $38,396,634,000 after purchasing an additional 1,548,699 shares during the period. Price T Rowe Associates Inc. MD increased its stake in Broadcom by 3.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 85,546,083 shares of the semiconductor manufacturer’s stock valued at $29,607,500,000 after purchasing an additional 2,491,644 shares in the last quarter. Finally, Norges Bank bought a new stake in Broadcom during the 4th quarter valued at $24,252,196,000. 76.43% of the stock is currently owned by institutional investors.

Insider Transactions at Broadcom

In other Broadcom news, Director Justine Page sold 1,602 shares of the firm’s stock in a transaction on Monday, June 29th. The stock was sold at an average price of $373.86, for a total value of $598,923.72. Following the completion of the sale, the director directly owned 17,426 shares of the company’s stock, valued at $6,514,884.36. This trade represents a 8.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Harry L. You bought 1,000 shares of the stock in a transaction on Thursday, June 11th. The stock was purchased at an average price of $373.57 per share, for a total transaction of $373,570.00. Following the completion of the purchase, the director owned 38,466 shares of the company’s stock, valued at approximately $14,369,743.62. This trade represents a 2.67% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders sold a total of 61,644 shares of company stock valued at $24,016,214 in the last three months. 1.90% of the stock is currently owned by company insiders.

Broadcom News Summary

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Standard Chartered chose Broadcom to support a long-term modernization of its global banking infrastructure, underscoring Broadcom’s role in secure private-cloud and enterprise networking solutions. Standard Chartered Selects Broadcom to Deliver Secure, Always-On Banking Services at Global Scale
• Positive Sentiment: Wall Street commentary continues to describe Broadcom as a core AI beneficiary, and some analysts have raised price targets even after the stock pullback. As Shares Fall, Analyst Are Boosting Their Broadcom Price Targets
• Neutral Sentiment: Broadcom remains a major talking point in AI-focused market coverage, with some investors viewing it as an indicator for the broader market and semiconductor cycle. Jim Cramer Says Broadcom Will Tell You When the Market Is About to Turn
• Negative Sentiment: Broadcom is facing renewed skepticism around valuation, with one report asking whether the AI story has made the stock too expensive. Has Broadcom Become Too Expensive for Its AI Story?
• Negative Sentiment: The stock is also being hit by a broader selloff in semiconductor names as investors rotate away from AI-capex winners and worry about a slowdown in chip spending. Marvell Drops 8% as AI Capex Slowdown Fears Weigh on Chips; Broadcom, AMD, and Intel Slide
• Negative Sentiment: Broadcom is also dealing with regulatory uncertainty after reports said it faces an EU antitrust review tied to VMware licensing changes. Broadcom (AVGO) Faces EU Antitrust Review Over VMware Licensing Changes

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $515.00 price objective (up from $430.00) on shares of Broadcom in a research note on Thursday, June 4th. Wells Fargo & Company reissued an “overweight” rating and set a $545.00 target price (up from $430.00) on shares of Broadcom in a research report on Thursday, May 14th. DA Davidson upped their target price on shares of Broadcom from $375.00 to $400.00 and gave the stock a “neutral” rating in a report on Thursday, June 4th. Dbs Bank raised shares of Broadcom to a “moderate buy” rating in a research report on Thursday, June 18th. Finally, TD Cowen reiterated a “buy” rating and set a $500.00 price target on shares of Broadcom in a research note on Thursday, June 4th. One investment analyst has rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $493.24.

Broadcom Stock Performance

Shares of Broadcom stock opened at $370.83 on Monday. Broadcom Inc. has a 1 year low of $273.00 and a 1 year high of $495.00. The firm has a market cap of $1.76 trillion, a PE ratio of 61.81, a P/E/G ratio of 0.65 and a beta of 1.45. The stock has a fifty day moving average price of $401.29 and a 200-day moving average price of $365.42. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.24 and a quick ratio of 2.01.

Broadcom (NASDAQ:AVGO) last released its earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share for the quarter, beating analysts’ consensus estimates of $2.40 by $0.04. Broadcom had a net margin of 38.85% and a return on equity of 41.61%. The firm had revenue of $22.19 billion during the quarter, compared to the consensus estimate of $22.13 billion. During the same period in the prior year, the firm earned $1.58 EPS. The company’s revenue was up 47.9% compared to the same quarter last year. Equities research analysts anticipate that Broadcom Inc. will post 10.24 EPS for the current year.

Broadcom Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 22nd were paid a $0.65 dividend. The ex-dividend date was Monday, June 22nd. This represents a $2.60 annualized dividend and a yield of 0.7%. Broadcom’s dividend payout ratio is presently 43.33%.

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.