Legacy Private Trust Co. Has $32.87 Million Position in Broadcom Inc. $AVGO

Key Points

• Legacy Private Trust Co. reduced its Broadcom stake by 5.1% in the second quarter, selling 4,675 shares and retaining 87,023 shares valued at approximately $32.87 million. Broadcom represents 1.8% of the firm’s portfolio.
• Broadcom reported quarterly EPS of $2.44, surpassing estimates of $2.40, while revenue rose 47.9% year over year to $22.19 billion. The company also pays a $0.65 quarterly dividend, equivalent to a 0.7% yield.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an average price target of $493.24, although insiders sold more than 61,000 shares worth about $24 million over the past three months.

Legacy Private Trust Co. cut its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 5.1% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 87,023 shares of the semiconductor manufacturer's stock after selling 4,675 shares during the quarter. Broadcom makes up 1.8% of Legacy Private Trust Co.'s portfolio, making the stock its 13th largest holding. Legacy Private Trust Co.'s holdings in Broadcom were worth $32,873,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. ROSS JOHNSON & Associates LLC grew its stake in Broadcom by 1,320.0% during the fourth quarter. ROSS JOHNSON & Associates LLC now owns 71 shares of the semiconductor manufacturer's stock worth $25,000 after buying an additional 66 shares during the last quarter. SWAN Capital LLC increased its holdings in shares of Broadcom by 261.9% during the fourth quarter. SWAN Capital LLC now owns 76 shares of the semiconductor manufacturer's stock worth $26,000 after buying an additional 55 shares in the last quarter. Networth Advisors LLC raised its stake in shares of Broadcom by 546.2% in the first quarter. Networth Advisors LLC now owns 84 shares of the semiconductor manufacturer's stock valued at $26,000 after acquiring an additional 71 shares during the last quarter. Nvest Wealth Strategies Inc. bought a new position in shares of Broadcom in the fourth quarter valued at approximately $33,000. Finally, Family CFO Inc acquired a new position in shares of Broadcom in the 4th quarter worth approximately $35,000. Institutional investors and hedge funds own 76.43% of the company's stock.

Broadcom Trading Down 5.9%

AVGO opened at $393.05 on Friday. The firm's fifty day moving average is $389.79 and its two-hundred day moving average is $373.30. The firm has a market cap of $1.87 trillion, a PE ratio of 65.51, a price-to-earnings-growth ratio of 0.75 and a beta of 1.45. Broadcom Inc. has a twelve month low of $281.87 and a twelve month high of $495.00. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.01 and a current ratio of 2.24.

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 38.85% and a return on equity of 41.61%. The company had revenue of $22.19 billion during the quarter, compared to analyst estimates of $22.13 billion. During the same quarter in the previous year, the business earned $1.58 EPS. The firm's revenue was up 47.9% on a year-over-year basis. Equities research analysts anticipate that Broadcom Inc. will post 10.24 EPS for the current year.

Broadcom Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 22nd were issued a dividend of $0.65 per share. The ex-dividend date was Monday, June 22nd. This represents a $2.60 annualized dividend and a yield of 0.7%. Broadcom's payout ratio is currently 43.33%.

Insiders Place Their Bets

In other Broadcom news, insider Mark David Brazeal sold 25,000 shares of the stock in a transaction dated Friday, July 10th. The stock was sold at an average price of $401.33, for a total value of $10,033,250.00. Following the completion of the sale, the insider directly owned 194,989 shares in the company, valued at $78,254,935.37. This represents a 11.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gayla J. Delly sold 1,890 shares of the firm's stock in a transaction dated Wednesday, July 8th. The stock was sold at an average price of $385.38, for a total value of $728,368.20. Following the sale, the director directly owned 31,326 shares in the company, valued at approximately $12,072,413.88. This represents a 5.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 61,644 shares of company stock valued at $24,016,214 in the last three months. Insiders own 1.90% of the company's stock.

Trending Headlines about Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom’s custom-silicon and XPU opportunity remains a key long-term catalyst. Analysts and commentators point to accelerating AI infrastructure spending, major customer agreements, and potential growth in custom chips and networking. Broadcom: XPU Growth Trajectory Underestimated, Stock A Bargain
• Positive Sentiment: Wall Street’s average price target implies substantial upside from recent trading levels, supporting the bullish view that the market may be underestimating Broadcom’s AI growth trajectory. Broadcom is Down Over 3 Months: One Wall Street Pro Sees 60%+ Gains Ahead
• Positive Sentiment: Continued institutional interest, including purchases by GAMCO Investors and Cathie Wood’s reported investment, provides some additional support for the stock’s long-term AI investment case. Cathie Wood buys $16.2 million of Broadcom

Wall Street Analyst Weigh In

A number of research firms recently commented on AVGO. Wall Street Zen lowered Broadcom from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 18th. Mizuho lifted their price objective on Broadcom from $480.00 to $530.00 and gave the company an "outperform" rating in a research report on Thursday, June 4th. Morgan Stanley set a $502.00 price objective on Broadcom and gave the stock an "overweight" rating in a research note on Thursday, June 4th. Weiss Ratings cut Broadcom from a "buy (b)" rating to a "buy (b-)" rating in a report on Thursday, July 30th. Finally, Truist Financial raised their target price on Broadcom from $545.00 to $550.00 and gave the company a "buy" rating in a research note on Thursday, June 4th. Twenty-eight analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $493.24.

Broadcom Profile

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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