Sageworth Trust Co of South Dakota Invests $828,000 in Broadcom Inc. $AVGO

Sageworth Trust Co of South Dakota purchased a new position in shares of Broadcom Inc. (NASDAQ:AVGO) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 2,674 shares of the semiconductor manufacturer’s stock, valued at approximately $828,000. Broadcom comprises approximately 0.7% of Sageworth Trust Co of South Dakota’s investment portfolio, making the stock its 29th largest holding.

A number of other hedge funds have also bought and sold shares of AVGO. ROSS JOHNSON & Associates LLC raised its position in shares of Broadcom by 1,320.0% during the 4th quarter. ROSS JOHNSON & Associates LLC now owns 71 shares of the semiconductor manufacturer’s stock valued at $25,000 after acquiring an additional 66 shares in the last quarter. Networth Advisors LLC boosted its holdings in Broadcom by 546.2% in the first quarter. Networth Advisors LLC now owns 84 shares of the semiconductor manufacturer’s stock worth $26,000 after purchasing an additional 71 shares during the period. SWAN Capital LLC boosted its holdings in Broadcom by 261.9% in the fourth quarter. SWAN Capital LLC now owns 76 shares of the semiconductor manufacturer’s stock worth $26,000 after purchasing an additional 55 shares during the period. Miller Global Investments LLC bought a new stake in Broadcom during the fourth quarter valued at $31,000. Finally, Nvest Wealth Strategies Inc. bought a new stake in Broadcom during the fourth quarter valued at $33,000. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Gayla J. Delly sold 1,890 shares of the stock in a transaction on Wednesday, July 8th. The stock was sold at an average price of $385.38, for a total value of $728,368.20. Following the completion of the transaction, the director owned 31,326 shares of the company’s stock, valued at approximately $12,072,413.88. This represents a 5.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Mark David Brazeal sold 25,000 shares of the firm’s stock in a transaction on Wednesday, July 8th. The shares were sold at an average price of $379.19, for a total value of $9,479,750.00. Following the transaction, the insider directly owned 219,989 shares in the company, valued at $83,417,628.91. This trade represents a 10.20% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 36,644 shares of company stock valued at $13,982,964 in the last quarter. 1.90% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Zacks Research downgraded shares of Broadcom from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 21st. Benchmark boosted their price objective on shares of Broadcom from $485.00 to $545.00 and gave the company a “buy” rating in a research report on Thursday, June 4th. Mizuho increased their price objective on shares of Broadcom from $480.00 to $530.00 and gave the stock an “outperform” rating in a research note on Thursday, June 4th. Royal Bank Of Canada lifted their target price on Broadcom from $360.00 to $400.00 and gave the company a “sector perform” rating in a research note on Thursday, June 4th. Finally, Truist Financial upped their target price on Broadcom from $545.00 to $550.00 and gave the company a “buy” rating in a report on Thursday, June 4th. One research analyst has rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, Broadcom currently has an average rating of “Moderate Buy” and an average price target of $493.24.

Key Broadcom News

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom’s expanded Apple agreement, valued at more than $30 billion through 2031, strengthens visibility for revenue and highlights demand beyond AI chips. Why Broadcom Stock Rose Today
• Positive Sentiment: Analysts remain upbeat on Broadcom’s AI business, with Jefferies reiterating a Buy rating and a $550 price target as AI chip momentum improves. Broadcom’s (AVGO) AI Chip Momentum Keeps Wall Street Bullish
• Positive Sentiment: Broadcom is being viewed as a broader AI infrastructure winner because its networking products help connect large-scale AI systems, expanding the investment thesis beyond GPUs and custom chips. Broadcom stock’s latest catalyst targets Nvidia where it looks strongest
• Neutral Sentiment: Some coverage notes Broadcom’s near-$2 trillion market value and strong AI revenue growth, but also suggests much of the good news may already be reflected in the stock. Broadcom Is Less Than 5% From the $2 Trillion Club — and Apple Just Committed $30 Billion for More Chips
• Negative Sentiment: Erste Group downgraded Broadcom to Hold, citing valuation concerns, which may be limiting upside after the recent rally. Erste Group downgrades Broadcom to Hold citing valuation concerns

Broadcom Stock Performance

Shares of Broadcom stock traded down $1.14 during trading on Friday, hitting $399.97. 14,579,242 shares of the stock were exchanged, compared to its average volume of 26,802,910. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.01 and a current ratio of 2.24. Broadcom Inc. has a 12 month low of $269.58 and a 12 month high of $495.00. The stock’s fifty day moving average is $405.29 and its 200 day moving average is $364.13. The stock has a market cap of $1.90 trillion, a PE ratio of 66.66, a P/E/G ratio of 0.70 and a beta of 1.45.

Broadcom (NASDAQ:AVGO) last posted its earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share (EPS) 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 analyst estimates of $22.13 billion. During the same period in the previous year, the business posted $1.58 EPS. Broadcom’s revenue was up 47.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Broadcom Inc. will post 10.24 EPS for the current year.

Broadcom Dividend Announcement

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

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.