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

Key Points

• Providence First Trust Co cut its Broadcom stake by 44.2% in the fourth quarter, selling 3,942 shares and leaving it with 4,981 shares worth about $1.72 million.
• Broadcom reported strong quarterly results, topping analyst expectations with EPS of $2.05 and revenue of $19.31 billion, while revenue rose 29.5% from a year earlier.
• Analysts remain generally bullish on AVGO: multiple firms reiterated buy ratings, and Citi recently raised its price target to $500 amid optimism over AI demand and Broadcom’s outlook.

Providence First Trust Co decreased its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 44.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,981 shares of the semiconductor manufacturer's stock after selling 3,942 shares during the period. Providence First Trust Co's holdings in Broadcom were worth $1,724,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AVGO. Baring Financial LLC grew its position in shares of Broadcom by 2.2% in the 4th quarter. Baring Financial LLC now owns 1,359 shares of the semiconductor manufacturer's stock worth $470,000 after acquiring an additional 29 shares in the last quarter. Five Oceans Advisors raised its position in shares of Broadcom by 0.4% during the 4th quarter. Five Oceans Advisors now owns 8,191 shares of the semiconductor manufacturer's stock valued at $2,835,000 after acquiring an additional 29 shares in the last quarter. Jackson Hole Capital Partners LLC lifted its stake in Broadcom by 1.4% during the third quarter. Jackson Hole Capital Partners LLC now owns 2,170 shares of the semiconductor manufacturer's stock worth $716,000 after purchasing an additional 30 shares during the last quarter. Private Wealth Partners LLC lifted its stake in Broadcom by 0.7% during the third quarter. Private Wealth Partners LLC now owns 4,273 shares of the semiconductor manufacturer's stock worth $1,410,000 after purchasing an additional 30 shares during the last quarter. Finally, Planning Alternatives Ltd. ADV raised its holdings in shares of Broadcom by 1.4% during the third quarter. Planning Alternatives Ltd. ADV now owns 2,168 shares of the semiconductor manufacturer's stock worth $715,000 after purchasing an additional 30 shares during the period. 76.43% of the stock is owned by institutional investors.

Broadcom Stock Performance

Shares of AVGO stock opened at $419.30 on Wednesday. Broadcom Inc. has a 12-month low of $221.60 and a 12-month high of $437.68. The firm has a market capitalization of $1.99 trillion, a price-to-earnings ratio of 81.89, a price-to-earnings-growth ratio of 0.89 and a beta of 1.43. The business has a 50 day simple moving average of $358.98 and a 200 day simple moving average of $353.01. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.90 and a quick ratio of 1.73.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its earnings results on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.03 by $0.02. The firm had revenue of $19.31 billion during 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 in the prior year, the firm posted $1.60 EPS. On average, equities research analysts anticipate that Broadcom Inc. will post 9.95 EPS for the current year.

Broadcom Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Monday, March 23rd were issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend was Monday, March 23rd. Broadcom's payout ratio is presently 50.78%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Citigroup reaffirmed a "buy" rating and issued a $500.00 price target (up from $475.00) on shares of Broadcom in a report on Tuesday. Benchmark reissued a "buy" rating and issued a $485.00 target price on shares of Broadcom in a report on Thursday, March 5th. Weiss Ratings downgraded Broadcom from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Friday, April 24th. Morgan Stanley upped their target price on Broadcom from $462.00 to $470.00 and gave the company an "overweight" rating in a report on Friday, March 6th. Finally, Bank of America cut their price target on Broadcom from $500.00 to $450.00 and set a "buy" rating on the stock in a report on Thursday, March 5th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned 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 price target of $436.13.

Insider Transactions at Broadcom

In other news, insider Mark David Brazeal sold 50,488 shares of the firm's stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $321.60, for a total transaction of $16,236,940.80. Following the completion of the transaction, the insider owned 278,141 shares in the company, valued at approximately $89,450,145.60. This trade represents a 15.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider S. Ram Velaga sold 38,841 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 transaction of $12,491,265.60. Following the completion of the transaction, the insider directly owned 96,147 shares in the company, valued at $30,920,875.20. This represents a 28.77% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 324,282 shares of company stock valued at $106,425,249 in the last three months. 1.90% of the stock is currently owned by insiders.

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, 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

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.

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