Broadcom Inc. $AVGO Shares Sold by WASHINGTON TRUST Co

Key Points

• WASHINGTON TRUST Co trimmed its Broadcom stake by 3.2% in the fourth quarter, but still held 365,456 shares valued at about $126.5 million, making AVGO its fourth-largest position.
• Broadcom posted strong quarterly results, with EPS of $2.44 on revenue of $22.19 billion, both topping estimates and showing 47.9% year-over-year revenue growth.
• The company’s AI semiconductor revenue surged to $10.8 billion, and management signaled continued demand strength even as some investors remain cautious about sustaining that growth and the stock’s premium valuation.

WASHINGTON TRUST Co reduced its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 3.2% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 365,456 shares of the semiconductor manufacturer's stock after selling 11,995 shares during the quarter. Broadcom comprises about 4.1% of WASHINGTON TRUST Co's holdings, making the stock its 4th largest position. WASHINGTON TRUST Co's holdings in Broadcom were worth $126,484,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the company. Brown Brothers Harriman & Co. boosted its stake in shares of Broadcom by 10.7% in the third quarter. Brown Brothers Harriman & Co. now owns 77,411 shares of the semiconductor manufacturer's stock valued at $25,539,000 after buying an additional 7,499 shares in the last quarter. Dana Investment Advisors Inc. raised its position in Broadcom by 2.6% in the third quarter. Dana Investment Advisors Inc. now owns 173,759 shares of the semiconductor manufacturer's stock worth $57,325,000 after acquiring an additional 4,442 shares in the last quarter. Guinness Atkinson Asset Management Inc raised its position in Broadcom by 248.2% in the third quarter. Guinness Atkinson Asset Management Inc now owns 26,238 shares of the semiconductor manufacturer's stock worth $8,603,000 after acquiring an additional 18,703 shares in the last quarter. Sovran Advisors LLC lifted its holdings in Broadcom by 121.3% in the fourth quarter. Sovran Advisors LLC now owns 30,631 shares of the semiconductor manufacturer's stock valued at $10,507,000 after acquiring an additional 16,789 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. lifted its holdings in Broadcom by 406.1% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 11,994 shares of the semiconductor manufacturer's stock valued at $4,151,000 after acquiring an additional 9,624 shares during the period. Hedge funds and other institutional investors own 76.43% of the company's stock.

Key Broadcom News

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Deutsche Bank raised its price target on Broadcom to $515 from $430 and kept a Buy rating, signaling continued confidence after the earnings beat. Analysts set Broadcom stock price target
• Positive Sentiment: Broadcom said AI semiconductor revenue surged to $10.8 billion, up sharply year over year, and management highlighted accelerating AI demand and stronger expectations into 2027. Broadcom Q2 Earnings Call Spotlights AI Demand Surge
• Positive Sentiment: Revenue for the quarter reached a record $22.19 billion, EPS came in above estimates at $2.44, and the company also announced a quarterly dividend of $0.65 per share. Broadcom Inc. Announces Second Quarter Fiscal Year 2026 Financial Results and Quarterly Dividend
• Neutral Sentiment: Broadcom’s third-quarter revenue guidance of about $29.4 billion was above consensus, but investors are still waiting for EPS details and more clarity on how much of the AI growth can persist. Broadcom Inc. Announces Second Quarter Fiscal Year 2026 Financial Results and Quarterly Dividend
• Negative Sentiment: The stock dropped because quarterly revenue came in below Wall Street’s most aggressive expectations, raising concern that the market had priced in an even stronger AI boom. Broadcom tumbles as revenue miss clouds AI boom bets
• Negative Sentiment: Several reports said shares sold off in after-hours and premarket trading after the earnings release, as investors questioned whether the AI growth story was enough to justify the stock’s premium valuation. Broadcom revenue hits record on AI chip surge but outlook disappoints

Broadcom Price Performance

Broadcom stock opened at $479.23 on Thursday. The company has a quick ratio of 1.73, a current ratio of 1.90 and a debt-to-equity ratio of 0.80. The firm's 50-day simple moving average is $392.87 and its 200 day simple moving average is $361.19. Broadcom Inc. has a 52 week low of $241.11 and a 52 week high of $495.00. The firm has a market capitalization of $2.27 trillion, a PE ratio of 93.60, a P/E/G ratio of 0.99 and a beta of 1.41.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its quarterly earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.40 by $0.04. Broadcom had a net margin of 36.57% and a return on equity of 38.61%. The company had revenue of $22.19 billion for the quarter, compared to the consensus estimate of $22.13 billion. During the same quarter in the prior year, the firm earned $1.58 earnings per share. The company's revenue for the quarter was up 47.9% compared to the same quarter last year. On average, equities research analysts predict that Broadcom Inc. will post 9.91 EPS for the current fiscal year.

Broadcom Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 22nd will be issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date is Monday, June 22nd. Broadcom's dividend payout ratio is 50.78%.

Insider Activity

In other Broadcom news, Director Justine Page sold 2,018 shares of the company's stock in a transaction dated Wednesday, April 8th. The shares were sold at an average price of $353.00, for a total value of $712,354.00. Following the transaction, the director directly owned 18,164 shares in the company, valued at approximately $6,411,892. This represents a 10.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Charlie B. Kawwas sold 10,000 shares of the company's stock in a transaction that occurred on Wednesday, April 8th. The shares were sold at an average price of $345.23, for a total transaction of $3,452,300.00. Following the transaction, the insider directly owned 787,184 shares in the company, valued at $271,759,532.32. The trade was a 1.25% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 324,282 shares of company stock worth $106,425,249 in the last quarter. 1.90% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on AVGO. Bank of America lowered their price target on shares of Broadcom from $500.00 to $450.00 and set a "buy" rating on the stock in a research note on Thursday, March 5th. JPMorgan Chase & Co. boosted their price objective on shares of Broadcom from $475.00 to $500.00 and gave the stock an "overweight" rating in a report on Thursday, March 5th. Wells Fargo & Company restated 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. Evercore reiterated an "outperform" rating and set a $582.00 price target on shares of Broadcom in a research report on Tuesday, May 19th. Finally, Benchmark reissued a "buy" rating and set a $485.00 price target on shares of Broadcom in a research note on Thursday, March 5th. One analyst has rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $461.07.

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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