Broadcom Inc. $AVGO Shares Sold by Idaho Trust Co

Idaho Trust Co decreased its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 40.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,049 shares of the semiconductor manufacturer’s stock after selling 1,408 shares during the quarter. Idaho Trust Co’s holdings in Broadcom were worth $565,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. Sawyer & Company Inc raised its position in shares of Broadcom by 62.1% in the second quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer’s stock worth $26,000 after acquiring an additional 36 shares during the period. Longfellow Investment Management Co. LLC purchased a new position in shares of Broadcom in the 2nd quarter valued at about $27,000. Legend Financial Advisors Inc. purchased a new position in shares of Broadcom in the 2nd quarter valued at about $28,000. LGT Financial Advisors LLC acquired a new position in Broadcom in the 2nd quarter worth about $31,000. Finally, New England Capital Financial Advisors LLC purchased a new position in Broadcom during the second quarter worth approximately $31,000. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on AVGO shares. Mizuho set a $435.00 price objective on Broadcom and gave the company an “outperform” rating in a research report on Tuesday, October 21st. JPMorgan Chase & Co. boosted their price target on shares of Broadcom from $325.00 to $400.00 and gave the stock an “overweight” rating in a report on Friday, September 5th. Wall Street Zen cut shares of Broadcom from a “buy” rating to a “hold” rating in a research report on Sunday, November 23rd. Morgan Stanley reiterated an “overweight” rating and issued a $443.00 target price (up previously from $409.00) on shares of Broadcom in a research report on Monday. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Broadcom in a research note on Monday. Three research analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $391.04.

Insider Activity

In other Broadcom 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 value of $49,879,007.18. Following the transaction, the chief executive officer directly owned 825,998 shares in the company, valued at $278,088,746.66. The trade was a 15.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Mark David Brazeal sold 16,558 shares of the stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $347.61, for a total transaction of $5,755,726.38. Following the completion of the sale, the insider directly owned 329,302 shares of the company’s stock, valued at approximately $114,468,668.22. This trade represents a 4.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have acquired 3,550 shares of company stock worth $1,227,869 and have sold 665,271 shares worth $225,483,192. 2.00% of the stock is owned by insiders.

Broadcom Price Performance

AVGO stock opened at $390.24 on Friday. Broadcom Inc. has a 1 year low of $138.10 and a 1 year high of $403.00. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.50 and a quick ratio of 1.37. The firm has a market capitalization of $1.84 trillion, a PE ratio of 99.55, a price-to-earnings-growth ratio of 1.30 and a beta of 1.19. The business has a 50 day simple moving average of $356.79 and a 200-day simple moving average of $311.56.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share for the quarter, topping analysts’ consensus estimates of $1.66 by $0.03. Broadcom had a return on equity of 36.60% and a net margin of 31.59%.The company had revenue of $15.95 billion for the quarter, compared to analyst estimates of $15.82 billion. During the same quarter in the previous year, the company posted $1.24 earnings per share. The firm’s revenue for the quarter was up 22.0% compared to the same quarter last year. Equities research analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

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.