Smithfield Trust Co Sells 166 Shares of Broadcom Inc. $AVGO

Smithfield Trust Co reduced its stake in Broadcom Inc. (NASDAQ:AVGO) by 1.1% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 14,842 shares of the semiconductor manufacturer’s stock after selling 166 shares during the period. Smithfield Trust Co’s holdings in Broadcom were worth $4,097,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in AVGO. Brighton Jones LLC grew its holdings in Broadcom by 21.8% during the fourth quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer’s stock valued at $6,882,000 after purchasing an additional 5,322 shares during the period. Revolve Wealth Partners LLC raised its holdings in Broadcom by 10.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 7,997 shares of the semiconductor manufacturer’s stock worth $1,854,000 after purchasing an additional 756 shares during the period. Jackson Creek Investment Advisors LLC bought a new position in shares of Broadcom during the first quarter worth $262,000. Formidable Asset Management LLC grew its holdings in shares of Broadcom by 6.3% in the 1st quarter. Formidable Asset Management LLC now owns 19,463 shares of the semiconductor manufacturer’s stock valued at $3,259,000 after buying an additional 1,159 shares during the period. Finally, Resurgent Financial Advisors LLC increased its position in shares of Broadcom by 3.7% in the 1st quarter. Resurgent Financial Advisors LLC now owns 5,170 shares of the semiconductor manufacturer’s stock valued at $866,000 after buying an additional 185 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insider Buying and Selling

In related news, insider Charlie B. Kawwas sold 3,893 shares of the firm’s stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $347.82, for a total value of $1,354,063.26. Following the completion of the transaction, the insider directly owned 25,295 shares of the company’s stock, valued at approximately $8,798,106.90. This trade represents a 13.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Henry Samueli sold 368,797 shares of the company’s stock in a transaction on Wednesday, September 24th. The stock was sold at an average price of $337.91, for a total transaction of $124,620,194.27. Following the sale, the director directly owned 37,722,534 shares in the company, valued at $12,746,821,463.94. This trade represents a 0.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have acquired 3,550 shares of company stock worth $1,227,869 and have sold 664,471 shares worth $225,218,280. 2.00% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. TD Cowen increased their price target on Broadcom from $355.00 to $370.00 and gave the stock a “buy” rating in a report on Friday, September 5th. Arete Research upgraded shares of Broadcom to a “strong-buy” rating in a report on Monday, July 28th. Truist Financial upped their price target on shares of Broadcom from $295.00 to $365.00 and gave the company a “buy” rating in a report on Friday, September 5th. Morgan Stanley set a $409.00 price objective on shares of Broadcom and gave the stock an “overweight” rating in a report on Tuesday, October 14th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $360.00 target price (up from $325.00) on shares of Broadcom in a research note on Friday, September 5th. Three analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $372.52.

Broadcom Stock Up 0.7%

Shares of AVGO stock opened at $342.46 on Friday. The firm’s fifty day moving average price is $349.09 and its two-hundred day moving average price is $295.48. The company has a current ratio of 1.50, a quick ratio of 1.37 and a debt-to-equity ratio of 0.86. Broadcom Inc. has a 1 year low of $138.10 and a 1 year high of $386.48. The firm has a market capitalization of $1.62 trillion, a P/E ratio of 87.36, a PEG ratio of 1.38 and a beta of 1.19.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share for the quarter, beating the consensus estimate of $1.66 by $0.03. The company had revenue of $15.95 billion during the quarter, compared to analysts’ expectations of $15.82 billion. Broadcom had a return on equity of 36.60% and a net margin of 31.59%.Broadcom’s revenue for the quarter was up 22.0% compared to the same quarter last year. During the same quarter last year, the company earned $1.24 EPS. Broadcom has set its Q4 2025 guidance at EPS. On average, equities analysts predict that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 22nd were paid a dividend of $0.59 per share. The ex-dividend date was Monday, September 22nd. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.7%. Broadcom’s dividend payout ratio is currently 60.20%.

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.