Broadcom Inc. $AVGO is Whittier Trust Co. of Nevada Inc.'s 8th Largest Position

Key Points

• Whittier Trust Co. of Nevada Inc. increased its Broadcom stake by 5.3% in the first quarter, buying 16,842 additional shares to bring its holdings to 335,739 shares worth about $105.6 million. Broadcom is now the fund’s 8th largest position.
• Broadcom reported strong quarterly results, with EPS of $2.44 and revenue of $22.19 billion, both slightly above analyst expectations. Revenue jumped 47.9% year over year, and analysts currently expect full-year EPS of 10.24.
• The stock remains well-supported by institutional and analyst sentiment, including a moderate buy consensus and a median target price of $493.24. Recent catalysts include Apple’s multiyear agreement to buy more than $30 billion of Broadcom chips and continued optimism around its AI chip momentum.

Whittier Trust Co. of Nevada Inc. lifted its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 5.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 335,739 shares of the semiconductor manufacturer's stock after purchasing an additional 16,842 shares during the period. Broadcom comprises about 2.2% of Whittier Trust Co. of Nevada Inc.'s investment portfolio, making the stock its 8th largest position. Whittier Trust Co. of Nevada Inc.'s holdings in Broadcom were worth $105,566,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in the stock. ROSS JOHNSON & Associates LLC raised its stake in shares of Broadcom by 1,320.0% during the fourth quarter. ROSS JOHNSON & Associates LLC now owns 71 shares of the semiconductor manufacturer's stock valued at $25,000 after acquiring an additional 66 shares in the last quarter. Networth Advisors LLC grew its stake in Broadcom by 546.2% in the first quarter. Networth Advisors LLC now owns 84 shares of the semiconductor manufacturer's stock worth $26,000 after purchasing an additional 71 shares in the last quarter. SWAN Capital LLC increased its holdings in Broadcom by 261.9% during the 4th quarter. SWAN Capital LLC now owns 76 shares of the semiconductor manufacturer's stock worth $26,000 after purchasing an additional 55 shares during the period. Miller Global Investments LLC purchased a new position in Broadcom during the 4th quarter worth $31,000. Finally, Nvest Wealth Strategies Inc. bought a new stake in Broadcom during the 4th quarter valued at $33,000. Hedge funds and other institutional investors own 76.43% of the company's stock.

Insider Transactions at Broadcom

In related news, Director Justine Page sold 1,602 shares of the stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $373.86, for a total transaction of $598,923.72. Following the completion of the sale, the director owned 17,426 shares of the company's stock, valued at $6,514,884.36. This represents a 8.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Harry L. You bought 1,000 shares of the stock in a transaction on Thursday, June 11th. The stock was purchased at an average price of $373.57 per share, with a total value of $373,570.00. Following the completion of the purchase, the director owned 38,466 shares of the company's stock, valued at $14,369,743.62. This represents a 2.67% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have sold a total of 9,754 shares of company stock valued at $3,774,846 in the last 90 days. Insiders own 1.90% of the company's stock.

More Broadcom News

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

Broadcom Trading Up 3.2%

Shares of NASDAQ AVGO opened at $401.11 on Friday. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.24 and a quick ratio of 2.01. The stock has a market capitalization of $1.91 trillion, a P/E ratio of 66.85, a price-to-earnings-growth ratio of 0.68 and a beta of 1.45. Broadcom Inc. has a 1-year low of $269.58 and a 1-year high of $495.00. The business has a fifty day moving average price of $405.40 and a 200 day moving average price of $363.87.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its quarterly earnings data on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share for the quarter, beating analysts' consensus estimates of $2.40 by $0.04. The company had revenue of $22.19 billion for the quarter, compared to the consensus estimate of $22.13 billion. Broadcom had a return on equity of 41.61% and a net margin of 38.85%.The firm's revenue for the quarter was up 47.9% compared to the same quarter last year. During the same quarter last year, the company earned $1.58 earnings per share. Equities research analysts expect that Broadcom Inc. will post 10.24 EPS for the current fiscal year.

Broadcom Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 22nd were issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date was Monday, June 22nd. Broadcom's dividend payout ratio (DPR) is currently 43.33%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on AVGO. Wall Street Zen raised Broadcom from a "buy" rating to a "strong-buy" rating in a research report on Wednesday, July 1st. KeyCorp restated an "overweight" rating and issued a $575.00 price objective (up from $500.00) on shares of Broadcom 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 note on Friday, June 26th. Erste Group Bank reaffirmed a "hold" rating on shares of Broadcom in a research note on Tuesday. Finally, Evercore reiterated an "outperform" rating and set a $582.00 target price on shares of Broadcom in a report on Tuesday, May 19th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, Broadcom presently 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.

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