Linscomb Wealth Inc. Sells 4,643 Shares of Broadcom Inc. $AVGO

Linscomb Wealth Inc. cut its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 3.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 143,694 shares of the semiconductor manufacturer's stock after selling 4,643 shares during the quarter. Broadcom makes up 2.1% of Linscomb Wealth Inc.'s portfolio, making the stock its 9th biggest holding. Linscomb Wealth Inc.'s holdings in Broadcom were worth $49,733,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of AVGO. Arrowstreet Capital Limited Partnership increased its stake in shares of Broadcom by 499.4% in the third quarter. Arrowstreet Capital Limited Partnership now owns 5,634,232 shares of the semiconductor manufacturer's stock worth $1,858,789,000 after acquiring an additional 4,694,313 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Broadcom by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 482,707,302 shares of the semiconductor manufacturer's stock worth $167,064,997,000 after acquiring an additional 3,919,715 shares during the last quarter. Nordea Investment Management AB increased its stake in shares of Broadcom by 47.5% in the fourth quarter. Nordea Investment Management AB now owns 9,814,757 shares of the semiconductor manufacturer's stock worth $3,406,211,000 after acquiring an additional 3,160,586 shares during the last quarter. Danske Bank A S acquired a new position in shares of Broadcom in the third quarter worth $987,488,000. Finally, PFA Pension Forsikringsaktieselskab acquired a new position in shares of Broadcom in the fourth quarter worth $924,858,000. 76.43% of the stock is owned by institutional investors and hedge funds.

More Broadcom News

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom unveiled new broadband and Wi‑Fi 8 connectivity innovations with an embedded NPU, reinforcing its AI-at-the-edge growth story and expanding its product pipeline. Article link
• Positive Sentiment: Morgan Stanley raised its price target on Broadcom to $485 and kept an overweight rating, signaling continued analyst confidence ahead of earnings.
• Positive Sentiment: Broadcom is attracting bullish investor attention as traders bet on strong AI-chip demand and a potential breakout after earnings, with several articles calling it a top stock to watch. Article link
• Positive Sentiment: Broadcom is being highlighted by market commentators and bullish research as an AI leader and a long-term growth stock, which is helping sentiment into the earnings print.
• Neutral Sentiment: Some coverage notes that expectations are very high, with the stock trading at a premium valuation, so the upcoming earnings report will need to be strong to justify the move. Article link
• Neutral Sentiment: Traders are expecting a large post-earnings swing, which reflects uncertainty as much as optimism.
• Negative Sentiment: Bearish commentary from one market watcher suggests some investors are hedging ahead of the report, reflecting concern that the stock’s elevated valuation leaves little room for disappointment. Article link

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on AVGO. Zacks Research downgraded shares of Broadcom from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 21st. Rosenblatt Securities reiterated a "buy" rating and issued a $500.00 price objective on shares of Broadcom in a report on Tuesday, April 7th. Truist Financial upped their price objective on shares of Broadcom from $510.00 to $545.00 and gave the stock a "buy" rating in a report on Thursday, March 5th. Citigroup reiterated a "buy" rating and issued a $500.00 price objective (up from $475.00) on shares of Broadcom in a report on Tuesday, May 12th. Finally, Benchmark reiterated a "buy" rating and issued a $485.00 price objective on shares of Broadcom in a report on Thursday, March 5th. One analyst has rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, Broadcom currently has a consensus rating of "Moderate Buy" and a consensus price target of $455.07.

Broadcom Stock Up 3.0%

AVGO stock opened at $459.97 on Tuesday. 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 52-week low of $241.11 and a 52-week high of $466.05. The company has a 50-day moving average of $386.31 and a two-hundred day moving average of $359.32. The stock has a market capitalization of $2.18 trillion, a price-to-earnings ratio of 89.84, a price-to-earnings-growth ratio of 0.92 and a beta of 1.41.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its quarterly earnings data on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 EPS for the quarter, beating analysts' consensus estimates of $2.03 by $0.02. The business 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 firm's revenue for the quarter was up 29.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.60 earnings per share. As a group, equities research analysts anticipate that Broadcom Inc. will post 9.91 EPS for the current year.

Insider Activity at Broadcom

In other news, insider S. Ram Velaga sold 38,841 shares of the company's stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $321.60, for a total transaction of $12,491,265.60. Following the completion of the transaction, the insider owned 96,147 shares of the company's stock, valued at approximately $30,920,875.20. This represents a 28.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 shares were sold at an average price of $321.61, for a total transaction of $12,580,096.76. Following the transaction, the insider directly owned 74,626 shares of the company's stock, valued at $24,000,467.86. This represents a 34.39% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 324,282 shares of company stock worth $106,425,249 over the last ninety days. Corporate insiders own 1.90% of the company's stock.

Broadcom Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.