Broadcom Inc. $AVGO is CENTRAL TRUST Co's 5th Largest Position

Key Points

• CENTRAL TRUST Co trimmed its Broadcom stake by 4.2% in the fourth quarter, but the position still totaled 434,658 shares worth about $150.4 million. Broadcom remained its 5th largest holding and represented roughly 2.9% of the fund’s portfolio.
• Broadcom delivered solid quarterly results, reporting EPS of $2.05 on revenue of $19.31 billion, both slightly ahead of analyst expectations. Revenue rose 29.5% year over year, and analysts currently expect full-year EPS of 9.95.
• Investor sentiment is mixed: analysts mostly rate the stock a Moderate Buy, but recent headlines highlight concern that OpenAI’s planned $18 billion custom chip deal may be facing financing issues. Broadcom also saw insider selling in March, including large sales by its CFO and another executive.

CENTRAL TRUST Co lowered its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 4.2% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 434,658 shares of the semiconductor manufacturer's stock after selling 18,940 shares during the period. Broadcom accounts for about 2.9% of CENTRAL TRUST Co's holdings, making the stock its 5th largest holding. CENTRAL TRUST Co's holdings in Broadcom were worth $150,435,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership boosted its stake in shares of Broadcom by 499.4% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 5,634,232 shares of the semiconductor manufacturer's stock worth $1,858,789,000 after buying an additional 4,694,313 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Broadcom by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 482,707,302 shares of the semiconductor manufacturer's stock worth $167,064,997,000 after buying an additional 3,919,715 shares during the last quarter. Nordea Investment Management AB boosted its stake in shares of Broadcom by 47.5% in the 4th quarter. Nordea Investment Management AB now owns 9,814,757 shares of the semiconductor manufacturer's stock worth $3,406,211,000 after buying an additional 3,160,586 shares during the last quarter. Danske Bank A S purchased a new position in shares of Broadcom in the 3rd quarter worth $987,488,000. Finally, PFA Pension Forsikringsaktieselskab purchased a new position in shares of Broadcom in the 4th quarter worth $924,858,000. Institutional investors own 76.43% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. DA Davidson upgraded Broadcom to a "hold" rating in a research report on Friday, February 13th. Wolfe Research upgraded Broadcom from a "peer perform" rating to an "outperform" rating and set a $400.00 target price on the stock in a research report on Friday, January 30th. Benchmark reiterated a "buy" rating and set a $485.00 target price on shares of Broadcom in a research report on Thursday, March 5th. Erste Group Bank cut Broadcom from a "buy" rating to a "hold" rating in a report on Thursday, April 2nd. Finally, Citigroup raised their price target on Broadcom from $458.00 to $475.00 and gave the company a "buy" rating in a report on Thursday, March 5th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $435.30.

Broadcom Stock Performance

AVGO opened at $430.00 on Monday. The firm has a market cap of $2.04 trillion, a P/E ratio of 83.98, a P/E/G ratio of 0.89 and a beta of 1.43. Broadcom Inc. has a 12 month low of $206.52 and a 12 month high of $437.68. The company has a current ratio of 1.90, a quick ratio of 1.73 and a debt-to-equity ratio of 0.80. The stock has a 50-day moving average of $352.89 and a 200 day moving average of $351.28.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its earnings results on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 EPS for the quarter, topping analysts' consensus estimates of $2.03 by $0.02. The firm had revenue of $19.31 billion during the quarter, compared to analysts' expectations of $19.10 billion. Broadcom had a return on equity of 38.61% and a net margin of 36.57%.The company's quarterly revenue was up 29.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.60 EPS. As a group, research analysts forecast that Broadcom Inc. will post 9.95 EPS for the current year.

Broadcom Dividend Announcement

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 0.6%. Broadcom's payout ratio is 50.78%.

Trending Headlines about Broadcom

Here are the key news stories impacting Broadcom this week:

• Negative Sentiment: Broadcom shares are under pressure after reports said OpenAI’s planned $18 billion custom chip deal with the company hit a financing roadblock, creating uncertainty around a key AI revenue driver. Broadcom shares slump as OpenAI’s $18B custom chip deal hits financing snag
• Negative Sentiment: Another report framed the OpenAI issue as a major setback for Broadcom’s custom AI chip ambitions, adding concern that one of its flagship customer relationships may not be as immediately monetizable as investors hoped. Broadcom's OpenAI mega AI deal hits $18 billion wall
• Neutral Sentiment: Broadcom also announced VMware by Broadcom VCF 9.1, a product update aimed at accelerating production AI workloads in private clouds, which supports the company’s long-term enterprise AI strategy. Broadcom (AVGO) Launches VCF 9.1 to Accelerate Production AI in Private Clouds
• Neutral Sentiment: Several commentary pieces remained constructive on Broadcom’s position in the AI infrastructure stack, noting that recent hyperscaler results still support demand for chips and networking tied to AI buildouts. Big Tech earnings support Broadcom’s outlook
• Neutral Sentiment: Broadcom was also mentioned in a public-sector VMware partnership update, which could help broaden enterprise distribution but is not likely the main driver of the stock today. evoila U.S. and Carahsoft Partner to Deliver VMware by Broadcom Services to the Public Sector

Insider Buying and Selling

In other news, CFO Kirsten M. Spears sold 36,292 shares of Broadcom stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $321.60, for a total value of $11,671,507.20. Following the completion of the transaction, the chief financial officer owned 327,760 shares in the company, valued at approximately $105,407,616. The trade was a 9.97% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Charlie B. Kawwas sold 39,116 shares of Broadcom stock in a transaction that occurred on Tuesday, March 17th. The stock was 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 owned 74,626 shares of the company's stock, valued at approximately $24,000,467.86. This trade represents a 34.39% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 324,282 shares of company stock worth $106,425,249 in the last 90 days. Company insiders own 1.90% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.