Legacy Private Trust Co. Sells 1,086 Shares of Broadcom Inc. $AVGO

Key Points

• Legacy Private Trust Co. reduced its stake in Broadcom Inc. by 1.2%, selling 1,086 shares during the second quarter, bringing its holdings to 90,337 shares valued at $24,901,000.
• Broadcom's stock received multiple upgrades from analysts, with several firms increasing their price targets, including Sanford C. Bernstein, which raised its target from $295 to $400.
• The company recently announced a quarterly dividend of $0.59 per share, representing an annualized dividend of $2.36 and a yield of 0.7%.

Legacy Private Trust Co. lessened its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 1.2% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 90,337 shares of the semiconductor manufacturer's stock after selling 1,086 shares during the period. Broadcom makes up approximately 1.6% of Legacy Private Trust Co.'s investment portfolio, making the stock its 12th largest position. Legacy Private Trust Co.'s holdings in Broadcom were worth $24,901,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Nuveen LLC acquired a new position in Broadcom during the first quarter valued at approximately $6,649,117,000. Price T Rowe Associates Inc. MD boosted its position in Broadcom by 37.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 65,509,579 shares of the semiconductor manufacturer's stock valued at $10,968,270,000 after acquiring an additional 17,985,046 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of Broadcom by 18,179.3% during the 1st quarter. GAMMA Investing LLC now owns 17,276,164 shares of the semiconductor manufacturer's stock worth $2,892,548,000 after purchasing an additional 17,181,652 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Broadcom by 16.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 31,854,414 shares of the semiconductor manufacturer's stock worth $5,333,384,000 after purchasing an additional 4,550,647 shares in the last quarter. Finally, Deutsche Bank AG raised its holdings in shares of Broadcom by 36.9% in the 1st quarter. Deutsche Bank AG now owns 15,758,895 shares of the semiconductor manufacturer's stock worth $2,638,512,000 after acquiring an additional 4,245,345 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO Hock E. Tan sold 148,154 shares of the business's stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $336.67, for a total transaction of $49,879,007.18. Following the sale, the chief executive officer owned 825,998 shares of the company's stock, valued at $278,088,746.66. The trade was a 15.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Justine Page sold 800 shares of the business's stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $307.46, for a total transaction of $245,968.00. Following the sale, the director directly owned 23,782 shares in the company, valued at $7,312,013.72. The trade was a 3.25% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have purchased 3,550 shares of company stock worth $1,227,869 and have sold 850,112 shares worth $234,654,209. 2.00% of the stock is currently owned by company insiders.

Broadcom Trading Up 1.2%

NASDAQ:AVGO traded up $4.22 during trading hours on Monday, reaching $364.09. The company's stock had a trading volume of 21,285,107 shares, compared to its average volume of 25,785,228. The firm has a market capitalization of $1.72 trillion, a price-to-earnings ratio of 92.88, a PEG ratio of 1.99 and a beta of 1.16. The firm has a 50-day simple moving average of $302.11 and a 200-day simple moving average of $243.65. Broadcom Inc. has a 1 year low of $138.10 and a 1 year high of $374.23. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.37 and a current ratio of 1.50.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 EPS for the quarter, topping analysts' consensus estimates of $1.66 by $0.03. Broadcom had a net margin of 31.59% and a return on equity of 36.60%. The company had revenue of $15.95 billion for the quarter, compared to analysts' expectations of $15.82 billion. During the same quarter last year, the company earned $1.24 EPS. The firm's revenue was up 22.0% compared to the same quarter last year. Broadcom has set its Q4 2025 guidance at EPS. Research analysts expect that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 22nd will be paid a dividend of $0.59 per share. The ex-dividend date of this dividend is Monday, September 22nd. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.6%. Broadcom's payout ratio is presently 60.20%.

Wall Street Analyst Weigh In

Several research firms have commented on AVGO. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Broadcom from $300.00 to $350.00 and gave the company a "buy" rating in a research note on Friday, September 5th. Hsbc Global Res raised shares of Broadcom from a "hold" rating to a "strong-buy" rating in a report on Tuesday, June 24th. KeyCorp raised their price objective on shares of Broadcom from $330.00 to $400.00 and gave the stock an "overweight" rating in a report on Friday, September 5th. The Goldman Sachs Group reissued a "buy" rating and issued a $340.00 price target on shares of Broadcom in a report on Wednesday, August 13th. Finally, Rosenblatt Securities raised their price target on shares of Broadcom from $340.00 to $400.00 and gave the company a "buy" rating in a report on Friday, September 5th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $356.48.

Broadcom Company Profile

Broadcom Inc designs, develops, and supplies various semiconductor devices with a focus on complex digital and mixed signal complementary metal oxide semiconductor based devices and analog III-V based products worldwide. The company operates in two segments, Semiconductor Solutions and Infrastructure Software.