McKinley Carter Wealth Services Inc. Sells 5,838 Shares of Broadcom Inc. $AVGO

McKinley Carter Wealth Services Inc. lessened its stake in Broadcom Inc. (NASDAQ:AVGO) by 6.8% in the fourth quarter, HoldingsChannel reports. The firm owned 79,606 shares of the semiconductor manufacturer’s stock after selling 5,838 shares during the period. Broadcom accounts for about 1.5% of McKinley Carter Wealth Services Inc.’s holdings, making the stock its 13th biggest position. McKinley Carter Wealth Services Inc.’s holdings in Broadcom were worth $27,552,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Providence First Trust Co increased its holdings in 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 purchasing an additional 8,179 shares during the last quarter. Whittier Trust Co. of Nevada Inc. increased its holdings in shares of Broadcom by 3.4% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 323,587 shares of the semiconductor manufacturer’s stock worth $109,492,000 after acquiring an additional 10,786 shares in the last quarter. Brown Brothers Harriman & Co. increased its holdings in shares of Broadcom by 10.7% in the third quarter. Brown Brothers Harriman & Co. now owns 77,411 shares of the semiconductor manufacturer’s stock worth $25,539,000 after acquiring an additional 7,499 shares in the last quarter. Dana Investment Advisors Inc. increased its holdings in shares of Broadcom by 2.6% in the third quarter. Dana Investment Advisors Inc. now owns 173,759 shares of the semiconductor manufacturer’s stock worth $57,325,000 after acquiring an additional 4,442 shares in the last quarter. Finally, Guinness Atkinson Asset Management Inc increased its holdings in shares of Broadcom by 248.2% in the third quarter. Guinness Atkinson Asset Management Inc now owns 26,238 shares of the semiconductor manufacturer’s stock worth $8,603,000 after acquiring an additional 18,703 shares in the last quarter. Institutional investors own 76.43% of the company’s stock.

Key Broadcom News

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom’s AI semiconductor business is showing rapid growth, with AI revenue more than doubling and stronger Q2 expectations tied to hyperscale demand. Broadcom Rides on Accelerating Semiconductor Revenues: What’s Ahead?
• Positive Sentiment: Analysts continue to highlight Broadcom as one of Goldman Sachs’ strongest AI infrastructure bets, reinforcing optimism around its role in AI chips and networking. Why Broadcom (AVGO) Remains One of Goldman’s Strongest AI Infrastructure Bets
• Positive Sentiment: Broadcom is expanding its AI ecosystem through a $125 million research and talent hub with Meta and UCLA, plus packaging work with Applied Materials, which could support long-term growth. Broadcom’s AI Research Push Links Chip Packaging Advances To Growth Story
• Positive Sentiment: Several articles and analyst notes point to strong long-term upside, with Broadcom repeatedly described as a durable AI winner and a solid growth stock. Is Broadcom Inc. (AVGO) a Solid Growth Stock? 3 Reasons to Think “Yes”
• Neutral Sentiment: Commentary about Broadcom’s stock price in 2030 reflects bullish long-term AI expectations, but it does not appear to be a near-term catalyst. This Will be Broadcom’s Stock Price In 2030
• Neutral Sentiment: Broader market commentary and inflation worries have also been mentioned, but these articles do not identify a Broadcom-specific problem. Inflation Fears Weighed on Broadcom (AVGO) in Q1
• Negative Sentiment: One recent note says Broadcom remains “overcrowded,” suggesting valuation or positioning risk after a strong rally. Broadcom Is Far Too Overcrowded
• Negative Sentiment: Broadcom has also faced some regulatory scrutiny in the EU, which could create headline risk even as AI sentiment stays positive. Broadcom Inc. (AVGO) Challenges EU Regulators While Barclays Sees AI Upside

Insider Transactions at Broadcom

In other news, insider Charlie B. Kawwas sold 39,116 shares of the company’s stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $321.61, for a total transaction of $12,580,096.76. Following the completion of the transaction, the insider directly owned 74,626 shares of the company’s stock, valued at $24,000,467.86. This represents a 34.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider S. Ram Velaga sold 38,841 shares of the company’s stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $321.60, for a total value of $12,491,265.60. Following the transaction, the insider directly owned 96,147 shares of the company’s stock, valued at $30,920,875.20. This represents a 28.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 324,282 shares of company stock valued at $106,425,249 over the last three months. 1.90% of the stock is currently owned by corporate insiders.

Broadcom Stock Down 0.1%

AVGO stock opened at $414.14 on Friday. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.90 and a quick ratio of 1.73. The stock has a market capitalization of $1.96 trillion, a P/E ratio of 80.89, a P/E/G ratio of 0.86 and a beta of 1.43. The business has a 50-day moving average of $373.30 and a 200-day moving average of $356.09. Broadcom Inc. has a fifty-two week low of $226.18 and a fifty-two week high of $442.36.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 earnings per share for the quarter, topping the consensus estimate of $2.03 by $0.02. The company had revenue of $19.31 billion during the quarter, compared to analysts’ expectations of $19.10 billion. Broadcom had a return on equity of 38.61% and a net margin of 36.57%.Broadcom’s revenue for the quarter was up 29.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.60 earnings per share. On average, sell-side analysts anticipate that Broadcom Inc. will post 9.91 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Monday, March 23rd were given a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend was Monday, March 23rd. Broadcom’s dividend payout ratio is currently 50.78%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on AVGO. Erste Group Bank downgraded Broadcom from a “buy” rating to a “hold” rating in a report on Thursday, April 2nd. Wells Fargo & Company restated an “overweight” rating and issued a $545.00 price target (up from $430.00) on shares of Broadcom in a report on Thursday, May 14th. Wolfe Research upgraded Broadcom from a “peer perform” rating to an “outperform” rating and set a $400.00 price target for the company in a report on Friday, January 30th. Weiss Ratings downgraded Broadcom from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, April 24th. Finally, Evercore restated an “outperform” rating and issued a $582.00 price target on shares of Broadcom in a report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $448.10.

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.