Sageworth Trust Co Sells 33,009 Shares of Broadcom Inc. $AVGO

Sageworth Trust Co lowered its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 94.3% in the 4th quarter, Holdings Channel.com reports. The firm owned 2,009 shares of the semiconductor manufacturer’s stock after selling 33,009 shares during the quarter. Sageworth Trust Co’s holdings in Broadcom were worth $695,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Providence First Trust Co raised its stake in shares of Broadcom by 1,099.3% in the third quarter. Providence First Trust Co now owns 8,923 shares of the semiconductor manufacturer’s stock valued at $2,944,000 after acquiring an additional 8,179 shares during the period. Whittier Trust Co. of Nevada Inc. increased its stake in Broadcom by 3.4% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 323,587 shares of the semiconductor manufacturer’s stock worth $109,492,000 after buying an additional 10,786 shares during the period. Lmcg Investments LLC increased its stake in Broadcom by 9.4% in the 3rd quarter. Lmcg Investments LLC now owns 38,961 shares of the semiconductor manufacturer’s stock worth $12,854,000 after buying an additional 3,357 shares during the period. Wright Investors Service Inc. increased its stake in Broadcom by 5.4% in the 3rd quarter. Wright Investors Service Inc. now owns 42,159 shares of the semiconductor manufacturer’s stock worth $13,909,000 after buying an additional 2,178 shares during the period. Finally, Brown Brothers Harriman & Co. increased its stake in Broadcom by 10.7% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 77,411 shares of the semiconductor manufacturer’s stock worth $25,539,000 after buying an additional 7,499 shares during the period. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Key Stories Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Citi raised its price target on Broadcom to $500 from $475 and kept a Buy rating, saying the company remains one of Wall Street’s top semiconductor picks heading into earnings on continued AI demand. Broadcom Enters Earnings As Citi’s Top Semiconductor Pick
• Positive Sentiment: Multiple reports highlighted Broadcom’s growing role in custom AI silicon and AI infrastructure, including talk of a large financing package to support its chipmaking buildout, reinforcing the bullish long-term AI investment case. Why Broadcom (AVGO) Is Becoming a Bigger Force in Custom AI Silicon
• Positive Sentiment: Fund-flow headlines were supportive, with Chris Rokos reportedly buying Broadcom and Mirova US LLC increasing its stake, suggesting institutional confidence remains strong. Broadcom Inc. (AVGO): Chris Rokos Is Buying This Chip Stock
• Neutral Sentiment: Broadcom sued EU antitrust regulators over a request for U.S. legal documents tied to the VMware deal, which adds legal noise but is not yet a clear business fundamental issue. Broadcom sues EU antitrust regulators over request for US legal documents
• Negative Sentiment: Recent trading showed Broadcom easing after a strong run, and some commentary warned that tech valuations are becoming crowded, which may be prompting profit-taking in the stock. Broadcom Inc. (AVGO) Dips More Than Broader Market: What You Should Know
• Negative Sentiment: Some holders also trimmed positions, including PRIMECAP Management and Cincinnati Specialty Underwriters, adding a modest overhang to sentiment. PRIMECAP Management Co trims Broadcom stake by 12,410 shares

Wall Street Analysts Forecast Growth

AVGO has been the topic of several recent analyst reports. Morgan Stanley raised their price target on shares of Broadcom from $462.00 to $470.00 and gave the stock an “overweight” rating in a research note on Friday, March 6th. Zacks Research raised shares of Broadcom from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 2nd. Benchmark reiterated a “buy” rating and set a $485.00 target price on shares of Broadcom in a report on Thursday, March 5th. Seaport Research Partners reiterated a “neutral” rating on shares of Broadcom in a report on Wednesday, April 8th. Finally, Royal Bank Of Canada dropped their target price on shares of Broadcom from $370.00 to $340.00 and set a “sector perform” rating on the stock in a report on Monday, March 2nd. Two analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $436.13.

Broadcom Stock Down 0.6%

NASDAQ:AVGO opened at $416.79 on Thursday. Broadcom Inc. has a fifty-two week low of $221.60 and a fifty-two week high of $437.68. The stock has a market capitalization of $1.97 trillion, a P/E ratio of 81.40, a P/E/G ratio of 0.87 and a beta of 1.43. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.73 and a current ratio of 1.90. The company’s 50-day simple moving average is $360.94 and its 200-day simple moving average is $353.52.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings results on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 earnings per share for the quarter, beating analysts’ consensus estimates of $2.03 by $0.02. Broadcom had a net margin of 36.57% and a return on equity of 38.61%. The business had revenue of $19.31 billion for the quarter, compared to analysts’ expectations of $19.10 billion. During the same period last year, the business earned $1.60 EPS. The company’s revenue was up 29.5% compared to the same quarter last year. On average, equities analysts anticipate that Broadcom Inc. will post 9.95 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Monday, March 23rd were issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date was Monday, March 23rd. Broadcom’s dividend payout ratio (DPR) is currently 50.78%.

Insiders Place Their Bets

In other news, insider S. Ram Velaga sold 8,000 shares of the firm’s stock in a transaction dated Friday, April 10th. The shares were sold at an average price of $370.52, for a total value of $2,964,160.00. Following the sale, the insider directly owned 57,932 shares in the company, valued at approximately $21,464,964.64. This trade represents a 12.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Justine Page sold 2,018 shares of Broadcom stock in a transaction that occurred on Wednesday, April 8th. The stock was sold at an average price of $353.00, for a total transaction of $712,354.00. Following the completion of the sale, the director owned 18,164 shares of the company’s stock, valued at $6,411,892. This trade represents a 10.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 324,282 shares of company stock worth $106,425,249. Insiders own 1.90% of the company’s stock.

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.