LaFleur & Godfrey LLC Has $26.11 Million Stake in Broadcom Inc. $AVGO

Key Points

• LaFleur & Godfrey LLC trimmed its Broadcom stake by 4.1% in the fourth quarter, but the position still totaled $26.11 million and remained its sixth-largest holding.
• Broadcom reported better-than-expected quarterly results, with EPS of $2.05 and revenue of $19.31 billion, while revenue jumped 29.5% year over year.
• Wall Street remains broadly upbeat on AVGO, with several analysts raising price targets amid optimism over AI demand; the stock currently has a consensus rating of Moderate Buy and an average target of $436.13.

LaFleur & Godfrey LLC reduced its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 4.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 75,449 shares of the semiconductor manufacturer's stock after selling 3,261 shares during the quarter. Broadcom comprises approximately 3.2% of LaFleur & Godfrey LLC's holdings, making the stock its 6th largest position. LaFleur & Godfrey LLC's holdings in Broadcom were worth $26,113,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Providence First Trust Co lifted its holdings in shares of Broadcom by 1,099.3% in the third quarter. Providence First Trust Co now owns 8,923 shares of the semiconductor manufacturer's stock valued at $2,944,000 after buying an additional 8,179 shares during the period. Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of Broadcom by 3.4% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 323,587 shares of the semiconductor manufacturer's stock valued at $109,492,000 after buying an additional 10,786 shares during the period. Lmcg Investments LLC lifted its holdings in shares of Broadcom by 9.4% in the third quarter. Lmcg Investments LLC now owns 38,961 shares of the semiconductor manufacturer's stock valued at $12,854,000 after buying an additional 3,357 shares during the period. Wright Investors Service Inc. raised its position in shares of Broadcom by 5.4% during the third quarter. Wright Investors Service Inc. now owns 42,159 shares of the semiconductor manufacturer's stock worth $13,909,000 after purchasing an additional 2,178 shares during the period. Finally, Brown Brothers Harriman & Co. raised its position in shares of Broadcom by 10.7% during the third quarter. Brown Brothers Harriman & Co. now owns 77,411 shares of the semiconductor manufacturer's stock worth $25,539,000 after purchasing an additional 7,499 shares during the period. 76.43% of the stock is currently owned by institutional investors.

Broadcom Stock Down 2.1%

NASDAQ:AVGO opened at $419.30 on Wednesday. The firm has a market capitalization of $1.99 trillion, a price-to-earnings ratio of 81.89, a PEG ratio of 0.89 and a beta of 1.43. Broadcom Inc. has a 1-year low of $221.60 and a 1-year 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 business's fifty day moving average price is $358.98 and its 200 day moving average price is $353.01.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its quarterly earnings results on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 earnings per share for the quarter, beating the consensus estimate of $2.03 by $0.02. The firm had revenue of $19.31 billion for the quarter, compared to analyst estimates of $19.10 billion. Broadcom had a return on equity of 38.61% and a net margin of 36.57%.Broadcom's quarterly revenue was up 29.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.60 earnings per share. On average, sell-side analysts forecast that Broadcom Inc. will post 9.95 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Monday, March 23rd were given a dividend of $0.65 per share. This represents a $2.60 annualized dividend 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%.

Insiders Place Their Bets

In related news, CFO Kirsten M. Spears sold 36,292 shares of the company's stock in a transaction on Tuesday, March 17th. The stock was 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mark David Brazeal sold 50,488 shares of the company's stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $321.60, for a total value of $16,236,940.80. Following the transaction, the insider directly owned 278,141 shares in the company, valued at $89,450,145.60. The trade was a 15.36% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 324,282 shares of company stock valued at $106,425,249 over the last ninety days. Corporate insiders own 1.90% of the company's stock.

Broadcom News Summary

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

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Erste Group Bank lowered Broadcom from a "buy" rating to a "hold" rating in a research report on Thursday, April 2nd. Wells Fargo & Company raised Broadcom from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $410.00 to $430.00 in a research report on Thursday, January 15th. Rosenblatt Securities reaffirmed a "buy" rating and set a $500.00 target price on shares of Broadcom in a research report on Tuesday, April 7th. Truist Financial boosted their target price on Broadcom from $510.00 to $545.00 and gave the stock a "buy" rating in a research report on Thursday, March 5th. Finally, JPMorgan Chase & Co. boosted their target price on Broadcom from $475.00 to $500.00 and gave the stock an "overweight" rating in a research report on Thursday, March 5th. Two investment 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 company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $436.13.

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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