Legacy Private Trust Co. Cuts Position in Broadcom Inc. $AVGO

Key Points

• Legacy Private Trust Co. trimmed its Broadcom stake by 3.1% in Q4, selling 2,889 shares and ending the quarter with 90,793 shares worth about $31.42 million, making Broadcom its 11th-largest holding (≈1.8% of assets).
• Analysts remain broadly bullish—MarketBeat shows a consensus Moderate Buy with a $435.30 price target and several firms recently raising targets (some up to $500), supported by a large AI revenue thesis (management sees >$100B potential).
• Despite a quarterly beat and a $0.65 dividend, Broadcom faces near-term risks including heavy insider selling (428,970 shares, ≈$142.6M in the past 90 days), TSMC supply constraints, and an EU antitrust complaint over VMware licensing.

Legacy Private Trust Co. lowered its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 3.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 90,793 shares of the semiconductor manufacturer's stock after selling 2,889 shares during the quarter. Broadcom accounts for about 1.8% of Legacy Private Trust Co.'s holdings, making the stock its 11th biggest position. Legacy Private Trust Co.'s holdings in Broadcom were worth $31,423,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in the stock. Miller Global Investments LLC acquired a new stake in shares of Broadcom in the fourth quarter valued at about $31,000. JCIC Asset Management Inc. acquired a new position in Broadcom during the third quarter worth about $31,000. Teachers Insurance & Annuity Association of America purchased a new position in Broadcom in the second quarter valued at about $28,000. Manning & Napier Advisors LLC purchased a new position in Broadcom in the third quarter valued at about $34,000. Finally, Navigoe LLC lifted its position in shares of Broadcom by 515.0% during the 3rd quarter. Navigoe LLC now owns 123 shares of the semiconductor manufacturer's stock valued at $40,000 after acquiring an additional 103 shares during the period. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on AVGO. Rosenblatt Securities boosted their price target on Broadcom from $450.00 to $500.00 and gave the stock a "buy" rating in a research note on Thursday, March 5th. Oppenheimer lifted their price objective on Broadcom from $435.00 to $450.00 and gave the stock an "outperform" rating in a report on Friday, December 12th. Benchmark reiterated a "buy" rating and set a $485.00 target price on shares of Broadcom in a research report on Thursday, March 5th. DA Davidson raised Broadcom to a "hold" rating in a report on Friday, February 13th. Finally, UBS Group set a $475.00 price target on Broadcom and gave the company a "buy" rating in a research report on Monday, December 15th. One analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $435.30.

Key Headlines Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Bullish AI revenue thesis — analysts and Broadcom management signal very large AI revenue potential (management sees >$100B in 2027; analysts model materially higher using gigawatt math), supporting long-term upside. Why Broadcom's $100B AI Revenue Forecast May Be Conservative
• Positive Sentiment: Bernstein upgrade and analyst bullishness have buoyed sentiment and drove recent gains — a catalyst for positive reassessment of growth prospects. Broadcom Stock Surges on Bernstein Upgrade
• Positive Sentiment: Infrastructure software momentum — launch of Symantec CBX and strong Infrastructure Software/VMware bookings point to recurring revenue growth and higher margins. AVGO's Symantec CBX Expands Security Portfolio
• Positive Sentiment: New government/defense win — Broadcom’s DISA/Carahsoft agreement and near-$1B defense contract add a stable, high-value customer channel. Defense Contract
• Neutral Sentiment: Media and analyst coverage remains largely favorable (buy-and-hold narratives, Jim Cramer mentions) but mostly reiterative rather than new information. Jim Cramer Coverage
• Neutral Sentiment: Short-interest entries appear to show data anomalies (zeros/NaN); not actionable as reported but worth monitoring if accurate updates follow.
• Negative Sentiment: Supply-chain risk — Broadcom flagged TSMC capacity constraints and other component shortages, which could limit the company’s ability to fulfill fast-growing AI demand and press near-term revenues. TSMC Capacity Bottleneck
• Negative Sentiment: Regulatory/legal risk — a formal EU antitrust complaint over VMware licensing could lead to regulatory scrutiny, potential remedies or fines in Europe that would affect the infrastructure software business. EU Antitrust Complaint

Insider Buying and Selling at Broadcom

In related news, insider Mark David Brazeal sold 50,488 shares of the firm's stock in a transaction that occurred on 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 sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 sale, the insider directly owned 96,147 shares of the company's stock, valued at $30,920,875.20. The trade was a 28.77% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 428,970 shares of company stock valued at $142,585,321. 1.90% of the stock is owned by corporate insiders.

Broadcom Stock Down 1.3%

Shares of NASDAQ:AVGO opened at $318.29 on Wednesday. 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 company has a market capitalization of $1.51 trillion, a P/E ratio of 62.17, a P/E/G ratio of 0.69 and a beta of 1.22. Broadcom Inc. has a 52-week low of $138.10 and a 52-week high of $414.61. The stock's fifty day simple moving average is $329.11 and its 200-day simple moving average is $345.61.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its quarterly earnings data 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 firm's quarterly revenue was up 29.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.60 EPS. As a group, equities research analysts forecast that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Monday, March 23rd will be given a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Monday, March 23rd. Broadcom's payout ratio is currently 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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