Equitable Trust Co. Decreases Holdings in Broadcom Inc. $AVGO

Key Points

• Equitable Trust Co. trimmed its Broadcom stake by 7.3% in the fourth quarter, selling 4,301 shares and leaving it with 54,293 shares valued at about $18.8 million.
• Wall Street sentiment remains mostly bullish: Citi raised its price target to $500 and kept a Buy rating, while Broadcom’s overall consensus rating is still “Moderate Buy” with an average target of $436.13.
• Broadcom continues to benefit from AI-driven demand, with recent coverage highlighting strong earnings expectations and analysts suggesting the company is positioned to beat estimates again in its next report.

Equitable Trust Co. lessened its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 7.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 54,293 shares of the semiconductor manufacturer's stock after selling 4,301 shares during the period. Broadcom comprises about 0.8% of Equitable Trust Co.'s holdings, making the stock its 26th biggest position. Equitable Trust Co.'s holdings in Broadcom were worth $18,791,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in Broadcom by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 482,707,302 shares of the semiconductor manufacturer's stock worth $167,064,997,000 after purchasing an additional 3,919,715 shares during the period. Invesco Ltd. boosted its position in Broadcom by 1.8% during the third quarter. Invesco Ltd. now owns 39,149,651 shares of the semiconductor manufacturer's stock worth $12,915,861,000 after purchasing an additional 700,021 shares during the period. Legal & General Group Plc boosted its position in Broadcom by 2.3% during the third quarter. Legal & General Group Plc now owns 33,450,786 shares of the semiconductor manufacturer's stock worth $11,035,749,000 after purchasing an additional 748,709 shares during the period. Franklin Resources Inc. boosted its position in Broadcom by 4.0% during the third quarter. Franklin Resources Inc. now owns 29,511,195 shares of the semiconductor manufacturer's stock worth $9,736,038,000 after purchasing an additional 1,124,590 shares during the period. Finally, Amundi boosted its position in Broadcom by 3.3% during the third quarter. Amundi now owns 22,216,816 shares of the semiconductor manufacturer's stock worth $7,453,320,000 after purchasing an additional 716,523 shares during the period. Hedge funds and other institutional investors own 76.43% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on AVGO shares. Zacks Research upgraded shares of Broadcom from a "hold" rating to a "strong-buy" rating in a research report on Thursday, April 2nd. Weiss Ratings lowered shares of Broadcom from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Friday, April 24th. Citigroup restated a "buy" rating and issued a $500.00 price objective (up from $475.00) on shares of Broadcom in a research report on Tuesday. Royal Bank Of Canada cut their price objective on shares of Broadcom from $370.00 to $340.00 and set a "sector perform" rating for the company in a research report on Monday, March 2nd. Finally, Erste Group Bank lowered shares of Broadcom from a "buy" rating to a "hold" rating in a research report on Thursday, April 2nd. Two investment analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat, Broadcom presently has a consensus rating of "Moderate Buy" and an average price target of $436.13.

Key Broadcom News

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

Insider Activity at Broadcom

In other Broadcom news, CFO Kirsten M. Spears sold 36,292 shares of the business's stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $321.60, for a total transaction of $11,671,507.20. Following the transaction, the chief financial officer directly owned 327,760 shares of the company's stock, 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 the company's stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $321.61, for a total transaction of $12,580,096.76. Following the completion of the sale, the insider directly owned 74,626 shares in the company, valued at $24,000,467.86. This represents a 34.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 324,282 shares of company stock valued at $106,425,249 in the last 90 days. 1.90% of the stock is owned by company insiders.

Broadcom Trading Down 2.1%

Shares of Broadcom stock opened at $419.30 on Wednesday. The firm has a market cap of $1.99 trillion, a PE ratio of 81.89, a PEG ratio of 0.89 and a beta of 1.43. 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 Inc. has a 1 year low of $221.60 and a 1 year high of $437.68. The company has a 50 day simple moving average of $358.98 and a two-hundred day simple moving average of $353.01.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its quarterly earnings data on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 earnings per share 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 analyst estimates of $19.10 billion. Broadcom had a net margin of 36.57% and a return on equity of 38.61%. The business's quarterly revenue was up 29.5% on a year-over-year basis. During the same period in the previous year, the business posted $1.60 EPS. Analysts expect that Broadcom Inc. will post 9.95 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Monday, March 23rd were given 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%.

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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