Sageworth Trust Co of South Dakota Takes $234,000 Position in Broadcom Inc. (NASDAQ:AVGO)

Sageworth Trust Co of South Dakota purchased a new stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 1,400 shares of the semiconductor manufacturer's stock, valued at approximately $234,000.

A number of other institutional investors have also added to or reduced their stakes in AVGO. Tallon Kerry Patrick purchased a new stake in Broadcom during the 4th quarter worth about $357,000. LaFleur & Godfrey LLC raised its holdings in shares of Broadcom by 18.7% in the 4th quarter. LaFleur & Godfrey LLC now owns 78,265 shares of the semiconductor manufacturer's stock valued at $18,145,000 after acquiring an additional 12,345 shares in the last quarter. Brighton Jones LLC raised its holdings in shares of Broadcom by 21.8% in the 4th quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer's stock valued at $6,882,000 after acquiring an additional 5,322 shares in the last quarter. Revolve Wealth Partners LLC raised its holdings in shares of Broadcom by 10.4% in the 4th quarter. Revolve Wealth Partners LLC now owns 7,997 shares of the semiconductor manufacturer's stock valued at $1,854,000 after acquiring an additional 756 shares in the last quarter. Finally, SOA Wealth Advisors LLC. raised its holdings in shares of Broadcom by 50.6% in the 4th quarter. SOA Wealth Advisors LLC. now owns 1,056 shares of the semiconductor manufacturer's stock valued at $245,000 after acquiring an additional 355 shares in the last quarter. Hedge funds and other institutional investors own 76.43% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on AVGO. Cowen reaffirmed a "buy" rating on shares of Broadcom in a report on Friday, June 6th. Seaport Res Ptn raised Broadcom to a "strong-buy" rating in a report on Wednesday, April 30th. Truist Financial set a $295.00 price target on Broadcom and gave the company a "buy" rating in a report on Friday, June 6th. Morgan Stanley raised their price target on Broadcom from $260.00 to $270.00 and gave the company an "overweight" rating in a report on Friday, June 6th. Finally, KeyCorp raised their price target on Broadcom from $260.00 to $275.00 and gave the company an "overweight" rating in a report on Friday, March 7th. One equities research analyst has rated the stock with a hold rating, twenty-seven have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Broadcom presently has an average rating of "Buy" and a consensus price target of $281.46.

Insider Transactions at Broadcom

In other news, CFO Kirsten M. Spears sold 36,350 shares of Broadcom stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $261.27, for a total value of $9,497,164.50. Following the sale, the chief financial officer directly owned 325,587 shares in the company, valued at approximately $85,066,115.49. This trade represents a 10.04% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Hock E. Tan sold 40,000 shares of Broadcom stock in a transaction that occurred on Thursday, June 26th. The stock was sold at an average price of $268.29, for a total value of $10,731,600.00. Following the completion of the sale, the chief executive officer owned 482,836 shares in the company, valued at approximately $129,540,070.44. This represents a 7.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 854,716 shares of company stock worth $221,433,761. Corporate insiders own 2.00% of the company's stock.

Broadcom Trading Up 1.8%

AVGO traded up $4.97 on Friday, hitting $274.87. 10,592,655 shares of the company were exchanged, compared to its average volume of 28,641,799. The firm has a fifty day simple moving average of $238.77 and a two-hundred day simple moving average of $217.22. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.98 and a current ratio of 1.08. Broadcom Inc. has a 12 month low of $128.50 and a 12 month high of $277.71. The stock has a market capitalization of $1.29 trillion, a PE ratio of 102.95, a price-to-earnings-growth ratio of 1.96 and a beta of 1.12.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its quarterly earnings data on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share for the quarter, topping analysts' consensus estimates of $1.57 by $0.01. The firm had revenue of $15 billion for the quarter, compared to analyst estimates of $14.98 billion. Broadcom had a return on equity of 35.49% and a net margin of 22.64%. The business's quarterly revenue was up 20.2% compared to the same quarter last year. During the same period last year, the company earned $10.96 EPS. Sell-side analysts expect that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 20th were given a $0.59 dividend. The ex-dividend date was Friday, June 20th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.86%. Broadcom's dividend payout ratio is currently 88.39%.

Broadcom announced that its Board of Directors has authorized a share buyback program on Monday, April 7th that allows the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization allows the semiconductor manufacturer to repurchase up to 1.4% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company's board believes its shares are undervalued.

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.