Charles Schwab Trust Co Decreases Stock Holdings in Broadcom Inc. (NASDAQ:AVGO)

Charles Schwab Trust Co lowered its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 3.1% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 25,979 shares of the semiconductor manufacturer’s stock after selling 831 shares during the quarter. Charles Schwab Trust Co’s holdings in Broadcom were worth $4,350,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in AVGO. Canton Hathaway LLC bought a new position in shares of Broadcom during the 4th quarter valued at approximately $26,000. Rialto Wealth Management LLC purchased a new position in shares of Broadcom during the fourth quarter valued at about $26,000. Sunbeam Capital Management LLC bought a new stake in Broadcom in the 4th quarter worth approximately $28,000. Vermillion Wealth Management Inc. purchased a new stake in Broadcom during the fourth quarter valued at $30,000. Finally, Sellwood Investment Partners LLC bought a new position in shares of Broadcom in the 4th quarter valued at about $32,000. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. William Blair restated an “outperform” rating on shares of Broadcom in a research note on Friday, March 7th. Barclays decreased their target price on shares of Broadcom from $260.00 to $215.00 and set an “overweight” rating for the company in a research report on Tuesday, April 22nd. Mizuho boosted their price objective on Broadcom from $250.00 to $300.00 and gave the company an “outperform” rating in a research report on Wednesday, May 28th. Bank of America dropped their target price on shares of Broadcom from $260.00 to $240.00 and set a “buy” rating for the company in a report on Wednesday, April 16th. Finally, KeyCorp lifted their price target on shares of Broadcom from $260.00 to $275.00 and gave the company an “overweight” rating in a research report on Friday, March 7th. Three analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $246.00.

Insider Buying and Selling at Broadcom

In other Broadcom news, insider Mark David Brazeal sold 30,000 shares of the stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $194.65, for a total transaction of $5,839,500.00. Following the transaction, the insider now directly owns 490,956 shares in the company, valued at $95,564,585.40. This trade represents a 5.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Justine Page sold 800 shares of the company’s stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $230.19, for a total transaction of $184,152.00. Following the completion of the transaction, the director now owns 26,182 shares of the company’s stock, valued at $6,026,834.58. This trade represents a 2.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 720,576 shares of company stock valued at $131,249,694. 2.00% of the stock is currently owned by company insiders.

Broadcom Stock Performance

NASDAQ:AVGO opened at $261.08 on Thursday. Broadcom Inc. has a 1-year low of $128.50 and a 1-year high of $265.43. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98. The stock has a market cap of $1.23 trillion, a P/E ratio of 212.95, a price-to-earnings-growth ratio of 2.29 and a beta of 1.11. The stock’s 50-day moving average is $200.31 and its 200-day moving average is $205.00.

Broadcom declared that its Board of Directors has initiated a stock repurchase program on Monday, April 7th that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the semiconductor manufacturer to purchase up to 1.4% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

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.