Legacy Private Trust Co. Has $32.87 Million Holdings in Broadcom Inc. $AVGO

Legacy Private Trust Co. lessened its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 5.1% in the second quarter, Holdings Channel.com reports. The firm owned 87,023 shares of the semiconductor manufacturer’s stock after selling 4,675 shares during the period. Broadcom makes up about 1.8% of Legacy Private Trust Co.’s investment portfolio, making the stock its 13th largest position. Legacy Private Trust Co.’s holdings in Broadcom were worth $32,873,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. DecisionMap Wealth Management LLC boosted its position in shares of Broadcom by 23.3% during the second quarter. DecisionMap Wealth Management LLC now owns 4,463 shares of the semiconductor manufacturer’s stock worth $1,686,000 after buying an additional 843 shares during the period. Vision Retirement LLC lifted its stake in Broadcom by 1.8% in the 2nd quarter. Vision Retirement LLC now owns 19,072 shares of the semiconductor manufacturer’s stock valued at $7,204,000 after acquiring an additional 335 shares in the last quarter. Leavell Investment Management Inc. boosted its position in Broadcom by 5.2% during the 2nd quarter. Leavell Investment Management Inc. now owns 24,422 shares of the semiconductor manufacturer’s stock worth $9,225,000 after acquiring an additional 1,204 shares during the last quarter. SOA Wealth Advisors LLC. boosted its position in Broadcom by 6.6% during the 2nd quarter. SOA Wealth Advisors LLC. now owns 18,407 shares of the semiconductor manufacturer’s stock worth $6,953,000 after acquiring an additional 1,140 shares during the last quarter. Finally, Quantum Financial Partners LLC bought a new position in shares of Broadcom during the 2nd quarter worth approximately $681,000. 76.43% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on AVGO. Royal Bank Of Canada boosted their price objective on shares of Broadcom from $360.00 to $400.00 and gave the stock a “sector perform” rating in a research report on Thursday, June 4th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $525.00 target price on shares of Broadcom in a research report on Thursday, June 4th. Truist Financial lifted their price target on shares of Broadcom from $545.00 to $550.00 and gave the company a “buy” rating in a research note on Thursday, June 4th. Wells Fargo & Company reissued an “overweight” rating and set a $545.00 price target (up from $430.00) on shares of Broadcom in a research report on Thursday, May 14th. Finally, KeyCorp restated an “overweight” rating and set a $575.00 price objective (up from $500.00) on shares of Broadcom in a research note on Thursday, June 4th. Twenty-eight equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, Broadcom has a consensus rating of “Moderate Buy” and an average price target of $493.24.

Key Stories Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom’s custom-silicon and XPU opportunity remains a key long-term catalyst. Analysts and commentators point to accelerating AI infrastructure spending, major customer agreements, and potential growth in custom chips and networking. Broadcom: XPU Growth Trajectory Underestimated, Stock A Bargain
• Positive Sentiment: Wall Street’s average price target implies substantial upside from recent trading levels, supporting the bullish view that the market may be underestimating Broadcom’s AI growth trajectory. Broadcom is Down Over 3 Months: One Wall Street Pro Sees 60%+ Gains Ahead
• Positive Sentiment: Continued institutional interest, including purchases by GAMCO Investors and Cathie Wood’s reported investment, provides some additional support for the stock’s long-term AI investment case. Cathie Wood buys $16.2 million of Broadcom

Insiders Place Their Bets

In other news, Director Justine Page sold 1,602 shares of Broadcom stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $373.86, for a total transaction of $598,923.72. Following the completion of the transaction, the director directly owned 17,426 shares in the company, valued at approximately $6,514,884.36. The trade was a 8.42% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Gayla J. Delly sold 1,890 shares of the business’s stock in a transaction that occurred on Wednesday, July 8th. The stock was sold at an average price of $385.38, for a total value of $728,368.20. Following the transaction, the director directly owned 31,326 shares in the company, valued at $12,072,413.88. The trade was a 5.69% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 61,644 shares of company stock worth $24,016,214 over the last ninety days. 1.90% of the stock is currently owned by corporate insiders.

Broadcom Stock Performance

Shares of AVGO opened at $393.05 on Friday. The company has a market cap of $1.87 trillion, a PE ratio of 65.51, a price-to-earnings-growth ratio of 0.75 and a beta of 1.45. The firm has a 50-day moving average of $389.79 and a 200-day moving average of $373.30. Broadcom Inc. has a one year low of $281.87 and a one year high of $495.00. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.24 and a quick ratio of 2.01.

Broadcom (NASDAQ:AVGO) last issued its earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.40 by $0.04. Broadcom had a net margin of 38.85% and a return on equity of 41.61%. The company had revenue of $22.19 billion for the quarter, compared to analysts’ expectations of $22.13 billion. During the same period in the prior year, the firm earned $1.58 EPS. Broadcom’s quarterly revenue was up 47.9% compared to the same quarter last year. As a group, equities analysts forecast that Broadcom Inc. will post 10.24 earnings per share for the current year.

Broadcom Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 22nd were paid a $0.65 dividend. The ex-dividend date was Monday, June 22nd. This represents a $2.60 annualized dividend and a yield of 0.7%. Broadcom’s dividend payout ratio is currently 43.33%.

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.