Legacy Private Trust Co. Acquires 3,345 Shares of Broadcom Inc. $AVGO

Legacy Private Trust Co. increased its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 3.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 93,682 shares of the semiconductor manufacturer’s stock after purchasing an additional 3,345 shares during the period. Broadcom makes up 1.8% of Legacy Private Trust Co.’s portfolio, making the stock its 10th biggest position. Legacy Private Trust Co.’s holdings in Broadcom were worth $30,907,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of AVGO. Norges Bank acquired a new position in shares of Broadcom in the second quarter valued at approximately $18,579,549,000. Vanguard Group Inc. boosted its stake in Broadcom by 1.3% in the 2nd quarter. Vanguard Group Inc. now owns 483,442,939 shares of the semiconductor manufacturer’s stock worth $133,261,046,000 after purchasing an additional 6,222,802 shares during the period. Edgewood Management LLC bought a new position in Broadcom during the 2nd quarter worth about $1,571,438,000. Alliancebernstein L.P. increased its holdings in Broadcom by 16.0% during the 1st quarter. Alliancebernstein L.P. now owns 29,513,814 shares of the semiconductor manufacturer’s stock worth $4,941,498,000 after purchasing an additional 4,077,910 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its stake in shares of Broadcom by 115.5% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 6,017,340 shares of the semiconductor manufacturer’s stock valued at $1,658,680,000 after purchasing an additional 3,224,739 shares during the period. 76.43% of the stock is owned by institutional investors.

Key Headlines Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Truist raised its price target to $510 and kept a buy stance, signaling big upside vs. current levels. AVGO: Broadcom price target raised by Truist
• Positive Sentiment: Company beat expectations and issued AI-related revenue commentary (large AI/XPU and networking opportunity), supporting a growth story tied to data-center demand. Broadcom soars past expectations with blockbuster results
• Positive Sentiment: Unusual options activity: traders bought ~323,615 call contracts, well above average, indicating speculative/hedged bullish bets on near-term upside.
• Positive Sentiment: Broadcom raised its quarterly dividend ~10% (new quarterly payment $0.65) — a sign of strong cash flow and shareholder returns. Broadcom stock just raised its dividend by 10%
• Neutral Sentiment: High-profile bullish coverage and commentary (Wall Street lists and media pieces) are amplifying interest but also raising expectations. Here’s why Wall Street is bullish on Broadcom stock (AVGO)
• Neutral Sentiment: Jim Cramer publicly said he isn’t very worried about Broadcom, which can calm retail sentiment but is not a fundamental driver. Jim Cramer says he is not that worried about Broadcom
• Negative Sentiment: Several insiders (including senior execs) have sold shares in recent filings — a potential overhang for sentiment even if sales may be for diversification/liquidity. Charlie Kawwas Sells 1,235 Shares of Broadcom
• Negative Sentiment: Sharp recent sell-off (~20% from pre-earnings levels) has created volatility and forced short-term selling pressure despite analysts raising targets. Broadcom Stock Crashes 20%—But Wall Street Sees It Soaring to $500

Broadcom Stock Up 3.2%

Broadcom stock opened at $340.36 on Friday. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.71 and a quick ratio of 1.58. The company’s 50-day moving average is $362.98 and its 200-day moving average is $320.66. The firm has a market capitalization of $1.61 trillion, a PE ratio of 71.50, a P/E/G ratio of 1.13 and a beta of 1.19. Broadcom Inc. has a fifty-two week low of $138.10 and a fifty-two week high of $414.61.

Broadcom (NASDAQ:AVGO) last issued its earnings results on Thursday, December 11th. The semiconductor manufacturer reported $1.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.87 by $0.08. The business had revenue of $18.02 billion during the quarter, compared to the consensus estimate of $17.46 billion. Broadcom had a net margin of 36.20% and a return on equity of 37.45%. Broadcom’s revenue was up 28.2% on a year-over-year basis. During the same period last year, the business posted $1.42 EPS. Sell-side analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current year.

Broadcom Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 22nd will be issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Monday, December 22nd. This is a boost from Broadcom’s previous quarterly dividend of $0.59. Broadcom’s payout ratio is presently 49.58%.

Analyst Upgrades and Downgrades

AVGO has been the subject of several recent research reports. Bank of America upped their price objective on Broadcom from $460.00 to $500.00 and gave the stock a “buy” rating in a research report on Friday, December 12th. UBS Group set a $475.00 target price on Broadcom and gave the company a “buy” rating in a research note on Monday. Wall Street Zen raised shares of Broadcom from a “hold” rating to a “buy” rating in a research note on Saturday, December 13th. Rosenblatt Securities lifted their price objective on shares of Broadcom from $400.00 to $440.00 and gave the company a “buy” rating in a report on Tuesday, December 9th. Finally, Truist Financial increased their target price on shares of Broadcom from $500.00 to $510.00 and gave the stock a “buy” rating in a report on Friday. Three research analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $436.33.

Insiders Place Their Bets

In other Broadcom news, insider Mark David Brazeal sold 38,281 shares of the company’s stock in a transaction on Wednesday, December 17th. The shares were sold at an average price of $327.65, for a total value of $12,542,769.65. Following the transaction, the insider directly owned 266,494 shares in the company, valued at $87,316,759.10. The trade was a 12.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Charlie B. Kawwas sold 1,928 shares of the stock in a transaction dated Wednesday, December 17th. The shares were sold at an average price of $327.80, for a total transaction of $631,998.40. Following the completion of the transaction, the insider directly owned 23,582 shares in the company, valued at $7,730,179.60. The trade was a 7.56% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 863,577 shares of company stock worth $311,694,744 in the last quarter. Company insiders own 2.00% of the company’s stock.

Broadcom 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.