Broadcom Inc. $AVGO is Whittier Trust Co.’s 8th Largest Position

Whittier Trust Co. boosted its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 5.6% during the first quarter, Holdings Channel.com reports. The fund owned 839,540 shares of the semiconductor manufacturer’s stock after acquiring an additional 44,514 shares during the quarter. Broadcom accounts for 3.0% of Whittier Trust Co.’s investment portfolio, making the stock its 8th largest holding. Whittier Trust Co.’s holdings in Broadcom were worth $263,976,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Broadcom during the 4th quarter valued at $24,252,196,000. Cardano Risk Management B.V. grew its position in shares of Broadcom by 895.2% during the fourth quarter. Cardano Risk Management B.V. now owns 12,689,800 shares of the semiconductor manufacturer’s stock worth $4,391,940,000 after purchasing an additional 11,414,701 shares in the last quarter. State Street Corp raised its stake in Broadcom by 2.7% during 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 during the period. Arrowstreet Capital Limited Partnership lifted its holdings in Broadcom by 499.4% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 5,634,232 shares of the semiconductor manufacturer’s stock worth $1,858,789,000 after purchasing an additional 4,694,313 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in Broadcom by 0.8% in 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 in the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Broadcom News Roundup

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Apple’s multiyear agreement to buy more than $30 billion of Broadcom chips through 2031 reinforces demand for Broadcom’s custom silicon and U.S. manufacturing strategy. Reuters: Apple to spend $30 billion in Broadcom chips deal that will see Colorado factory expand
• Positive Sentiment: Wall Street remains upbeat on Broadcom’s AI chip momentum, with Jefferies reiterating a Buy rating and a $550 price target on improving AI-related growth prospects. Broadcom’s (AVGO) AI Chip Momentum Keeps Wall Street Bullish
• Positive Sentiment: Broader semiconductor sentiment improved as the AI trade rebounded, with analysts and market commentators viewing the recent selloff as a buying opportunity for chip stocks like Broadcom. Broadcom, Intel, Corning, Marvell, and More Stocks That Explain Today’s Market
• Neutral Sentiment: Zacks highlighted Broadcom as a dividend-paying AI infrastructure name, underscoring its mix of income and AI exposure, but this was more of a stock-picking view than a new company-specific catalyst. These Dividend Paying Stocks Offer Strong Exposure to AI Trends
• Negative Sentiment: Erste Group downgraded Broadcom to Hold, citing valuation concerns, which may temper some of the enthusiasm after the recent rally. Erste Group downgrades Broadcom to Hold citing valuation concerns

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on AVGO shares. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $525.00 price objective on shares of Broadcom in a report on Thursday, June 4th. Morgan Stanley set a $502.00 target price on shares of Broadcom and gave the stock an “overweight” rating in a report on Thursday, June 4th. Weiss Ratings lowered shares of Broadcom from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, June 26th. Jefferies Financial Group set a $550.00 target price on Broadcom and gave the stock a “buy” rating in a report on Thursday, June 4th. Finally, TD Cowen reiterated a “buy” rating and issued a $500.00 target price on shares of Broadcom in a research report on Thursday, June 4th. One research analyst has rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Broadcom currently has an average rating of “Moderate Buy” and a consensus price target of $493.24.

Broadcom Stock Performance

Shares of NASDAQ:AVGO opened at $401.11 on Friday. The firm has a fifty day simple moving average of $405.40 and a two-hundred day simple moving average of $363.87. Broadcom Inc. has a 52 week low of $269.58 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. The stock has a market capitalization of $1.91 trillion, a P/E ratio of 66.85, a PEG ratio of 0.68 and a beta of 1.45.

Broadcom (NASDAQ:AVGO) last announced its earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analysts’ expectations of $22.13 billion. During the same period in the prior year, the company earned $1.58 EPS. The business’s revenue was up 47.9% compared to the same quarter last year. On average, analysts expect that Broadcom Inc. will post 10.24 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 22nd were given a dividend of $0.65 per share. The ex-dividend date was Monday, June 22nd. This represents a $2.60 dividend on an annualized basis and a yield of 0.6%. Broadcom’s dividend payout ratio is 43.33%.

Insider Buying and Selling at Broadcom

In other news, insider Mark David Brazeal sold 4,825 shares of the business’s stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $394.91, for a total transaction of $1,905,440.75. Following the transaction, the insider owned 269,989 shares of the company’s stock, valued at approximately $106,621,355.99. The trade was a 1.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Justine Page sold 1,602 shares of the stock in a transaction on Monday, June 29th. The shares were sold at an average price of $373.86, for a total value of $598,923.72. Following the sale, the director owned 17,426 shares in the company, valued at $6,514,884.36. The trade was a 8.42% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 9,754 shares of company stock worth $3,774,846 over the last ninety days. Company insiders own 1.90% of the company’s stock.

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.