AMG National Trust Bank Increases Stock Position in Broadcom Inc. $AVGO

AMG National Trust Bank grew its holdings in Broadcom Inc. (NASDAQ:AVGO) by 9.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,170 shares of the semiconductor manufacturer’s stock after purchasing an additional 1,766 shares during the quarter. AMG National Trust Bank’s holdings in Broadcom were worth $6,552,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Norges Bank purchased a new stake in shares of Broadcom in the fourth quarter valued at $24,252,196,000. Cardano Risk Management B.V. raised its stake in Broadcom by 895.2% in the 4th quarter. Cardano Risk Management B.V. now owns 12,689,800 shares of the semiconductor manufacturer’s stock valued at $4,391,940,000 after purchasing an additional 11,414,701 shares during the last quarter. State Street Corp lifted its holdings in Broadcom by 2.7% in the 4th quarter. State Street Corp now owns 190,084,351 shares of the semiconductor manufacturer’s stock valued at $65,788,194,000 after purchasing an additional 5,040,801 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Broadcom by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 482,707,302 shares of the semiconductor manufacturer’s stock worth $167,064,997,000 after purchasing an additional 3,919,715 shares during the last quarter. Finally, Nordea Investment Management AB boosted its stake in shares of Broadcom by 47.5% during the 4th quarter. Nordea Investment Management AB now owns 9,814,757 shares of the semiconductor manufacturer’s stock worth $3,406,211,000 after purchasing an additional 3,160,586 shares during the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

Broadcom Trading Down 1.0%

AVGO opened at $370.83 on Friday. The firm’s 50 day moving average is $401.29 and its 200-day moving average is $365.31. The firm has a market capitalization of $1.76 trillion, a P/E ratio of 61.81, a P/E/G ratio of 0.66 and a beta of 1.45. Broadcom Inc. has a 52-week low of $273.00 and a 52-week high of $495.00. The company has a quick ratio of 2.01, a current ratio of 2.24 and a debt-to-equity ratio of 0.71.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 EPS for the quarter, topping analysts’ consensus estimates of $2.40 by $0.04. Broadcom had a net margin of 38.85% and a return on equity of 41.61%. The firm had revenue of $22.19 billion for the quarter, compared to analyst estimates of $22.13 billion. During the same quarter in the previous year, the business posted $1.58 EPS. The firm’s revenue was up 47.9% compared to the same quarter last year. Analysts expect that Broadcom Inc. will post 10.24 EPS for the current fiscal year.

Broadcom Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 22nd were given a $0.65 dividend. The ex-dividend date of this dividend was Monday, June 22nd. This represents a $2.60 annualized dividend and a dividend yield of 0.7%. Broadcom’s payout ratio is presently 43.33%.

Insider Activity at Broadcom

In other news, Director Justine Page sold 1,602 shares of the stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $373.86, for a total transaction of $598,923.72. Following the transaction, the director owned 17,426 shares of the company’s stock, valued at approximately $6,514,884.36. This trade represents a 8.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Harry L. You bought 1,000 shares of Broadcom stock in a transaction on Thursday, June 11th. The shares were purchased at an average cost of $373.57 per share, for a total transaction of $373,570.00. Following the acquisition, the director owned 38,466 shares in the company, valued at $14,369,743.62. The trade was a 2.67% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders sold a total of 61,644 shares of company stock worth $24,016,214 over the last quarter. Company insiders own 1.90% of the company’s stock.

Broadcom News Summary

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Standard Chartered chose Broadcom to support a long-term modernization of its global banking infrastructure, underscoring Broadcom’s role in secure private-cloud and enterprise networking solutions. Standard Chartered Selects Broadcom to Deliver Secure, Always-On Banking Services at Global Scale
• Positive Sentiment: Wall Street commentary continues to describe Broadcom as a core AI beneficiary, and some analysts have raised price targets even after the stock pullback. As Shares Fall, Analyst Are Boosting Their Broadcom Price Targets
• Neutral Sentiment: Broadcom remains a major talking point in AI-focused market coverage, with some investors viewing it as an indicator for the broader market and semiconductor cycle. Jim Cramer Says Broadcom Will Tell You When the Market Is About to Turn
• Negative Sentiment: Broadcom is facing renewed skepticism around valuation, with one report asking whether the AI story has made the stock too expensive. Has Broadcom Become Too Expensive for Its AI Story?
• Negative Sentiment: The stock is also being hit by a broader selloff in semiconductor names as investors rotate away from AI-capex winners and worry about a slowdown in chip spending. Marvell Drops 8% as AI Capex Slowdown Fears Weigh on Chips; Broadcom, AMD, and Intel Slide
• Negative Sentiment: Broadcom is also dealing with regulatory uncertainty after reports said it faces an EU antitrust review tied to VMware licensing changes. Broadcom (AVGO) Faces EU Antitrust Review Over VMware Licensing Changes

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Citigroup reissued a “buy” rating on shares of Broadcom in a research note on Thursday, June 4th. Susquehanna reissued a “positive” rating and set a $490.00 price target (up from $450.00) on shares of Broadcom in a research note on Thursday, May 28th. Erste Group Bank reaffirmed a “hold” rating on shares of Broadcom in a research report on Tuesday, July 7th. JPMorgan Chase & Co. upped their target price on Broadcom from $500.00 to $580.00 and gave the company an “overweight” rating in a research note on Thursday, June 4th. Finally, Weiss Ratings upgraded Broadcom from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday. One analyst has rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, Broadcom has a consensus rating of “Moderate Buy” and a consensus target price of $493.24.

Broadcom Company 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.