Heritage Financial Services LLC Sells 2,191 Shares of Broadcom Inc. $AVGO

Heritage Financial Services LLC trimmed its stake in Broadcom Inc. (NASDAQ:AVGO) by 26.6% during the fourth quarter, Holdings Channel reports. The fund owned 6,035 shares of the semiconductor manufacturer’s stock after selling 2,191 shares during the quarter. Broadcom accounts for 0.2% of Heritage Financial Services LLC’s holdings, making the stock its 26th largest position. Heritage Financial Services LLC’s holdings in Broadcom were worth $2,089,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in AVGO. Providence First Trust Co grew its holdings in Broadcom by 1,099.3% in the 3rd quarter. Providence First Trust Co now owns 8,923 shares of the semiconductor manufacturer’s stock valued at $2,944,000 after buying an additional 8,179 shares during the last quarter. Whittier Trust Co. of Nevada Inc. grew its holdings 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 valued at $109,492,000 after buying an additional 10,786 shares during the last quarter. Lmcg Investments LLC grew its holdings in Broadcom by 9.4% in the 3rd quarter. Lmcg Investments LLC now owns 38,961 shares of the semiconductor manufacturer’s stock valued at $12,854,000 after buying an additional 3,357 shares during the last quarter. Wright Investors Service Inc. grew its holdings in Broadcom by 5.4% in the 3rd quarter. Wright Investors Service Inc. now owns 42,159 shares of the semiconductor manufacturer’s stock valued at $13,909,000 after buying an additional 2,178 shares during the last quarter. Finally, Brown Brothers Harriman & Co. grew its holdings in Broadcom by 10.7% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 77,411 shares of the semiconductor manufacturer’s stock valued at $25,539,000 after buying an additional 7,499 shares during the last quarter. 76.43% of the stock is owned by institutional investors.

Analyst Ratings Changes

AVGO has been the topic of a number of research analyst reports. Weiss Ratings lowered Broadcom from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, April 24th. JPMorgan Chase & Co. raised their target price on Broadcom from $475.00 to $500.00 and gave the company an “overweight” rating in a report on Thursday, March 5th. Citigroup raised their target price on Broadcom from $458.00 to $475.00 and gave the company a “buy” rating in a report on Thursday, March 5th. Wolfe Research raised Broadcom from a “peer perform” rating to an “outperform” rating and set a $400.00 target price on the stock in a report on Friday, January 30th. Finally, Zacks Research raised Broadcom from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 2nd. Two research analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, Broadcom has a consensus rating of “Moderate Buy” and an average price target of $435.30.

Insiders Place Their Bets

In other Broadcom news, CFO Kirsten M. Spears sold 36,292 shares of Broadcom stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $321.60, for a total value of $11,671,507.20. Following the completion of the transaction, the chief financial officer owned 327,760 shares in the company, valued at approximately $105,407,616. The trade was a 9.97% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider S. Ram Velaga sold 38,841 shares of Broadcom stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $321.60, for a total value of $12,491,265.60. Following the completion of the transaction, the insider owned 96,147 shares of the company’s stock, valued at approximately $30,920,875.20. The trade was a 28.77% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 324,282 shares of company stock worth $106,425,249. 1.90% of the stock is owned by company insiders.

Broadcom Stock Performance

Shares of AVGO opened at $430.00 on Monday. The stock has a fifty day moving average price of $352.89 and a two-hundred day moving average price of $351.28. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.73 and a current ratio of 1.90. Broadcom Inc. has a 52-week low of $206.52 and a 52-week high of $437.68. The company has a market cap of $2.04 trillion, a price-to-earnings ratio of 83.98, a PEG ratio of 0.89 and a beta of 1.43.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.03 by $0.02. Broadcom had a return on equity of 38.61% and a net margin of 36.57%.The firm had revenue of $19.31 billion during the quarter, compared to the consensus estimate of $19.10 billion. During the same quarter in the previous year, the company posted $1.60 EPS. The business’s revenue for the quarter was up 29.5% compared to the same quarter last year. Analysts predict that Broadcom Inc. will post 9.95 EPS for the current fiscal year.

Broadcom Announces Dividend

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

Key Headlines Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

• Negative Sentiment: Broadcom shares are under pressure after reports said OpenAI’s planned $18 billion custom chip deal with the company hit a financing roadblock, creating uncertainty around a key AI revenue driver. Broadcom shares slump as OpenAI’s $18B custom chip deal hits financing snag
• Negative Sentiment: Another report framed the OpenAI issue as a major setback for Broadcom’s custom AI chip ambitions, adding concern that one of its flagship customer relationships may not be as immediately monetizable as investors hoped. Broadcom’s OpenAI mega AI deal hits $18 billion wall
• Neutral Sentiment: Broadcom also announced VMware by Broadcom VCF 9.1, a product update aimed at accelerating production AI workloads in private clouds, which supports the company’s long-term enterprise AI strategy. Broadcom (AVGO) Launches VCF 9.1 to Accelerate Production AI in Private Clouds
• Neutral Sentiment: Several commentary pieces remained constructive on Broadcom’s position in the AI infrastructure stack, noting that recent hyperscaler results still support demand for chips and networking tied to AI buildouts. Big Tech earnings support Broadcom’s outlook
• Neutral Sentiment: Broadcom was also mentioned in a public-sector VMware partnership update, which could help broaden enterprise distribution but is not likely the main driver of the stock today. evoila U.S. and Carahsoft Partner to Deliver VMware by Broadcom Services to the Public Sector

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.