Broadcom Inc. $AVGO Position Boosted by City Holding Co.

Key Points

• City Holding increased its Broadcom position by 9.8% in the second quarter, bringing its holdings to 23,513 shares valued at approximately $8.9 million. Institutional investors collectively own 76.43% of Broadcom.
• Analysts remain broadly optimistic, with 28 Buy ratings and four Hold ratings producing a consensus “Moderate Buy” rating and an average price target of $493.24.
• Broadcom reported strong quarterly results, including adjusted EPS of $2.44 and revenue of $22.19 billion, up 47.9% year over year. The company also pays a quarterly dividend of $0.65, equivalent to a 0.6% annual yield.

City Holding Co. grew its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 9.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 23,513 shares of the semiconductor manufacturer's stock after purchasing an additional 2,105 shares during the period. Broadcom comprises 1.0% of City Holding Co.'s portfolio, making the stock its 24th largest holding. City Holding Co.'s holdings in Broadcom were worth $8,882,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in AVGO. Bank of America Corp DE raised its holdings in Broadcom by 1.5% during the first quarter. Bank of America Corp DE now owns 58,737,097 shares of the semiconductor manufacturer's stock valued at $18,179,719,000 after buying an additional 894,564 shares in the last quarter. Bartlett & CO. Wealth Management LLC lifted its position in shares of Broadcom by 129.3% in the first quarter. Bartlett & CO. Wealth Management LLC now owns 110,048 shares of the semiconductor manufacturer's stock worth $34,061,000 after buying an additional 62,050 shares during the last quarter. Fifth Lane Capital LP lifted its position in shares of Broadcom by 77.8% in the fourth quarter. Fifth Lane Capital LP now owns 4,000 shares of the semiconductor manufacturer's stock worth $1,384,000 after buying an additional 1,750 shares during the last quarter. Wealthcare Capital Partners LLC boosted its stake in shares of Broadcom by 36.4% during the 2nd quarter. Wealthcare Capital Partners LLC now owns 4,407 shares of the semiconductor manufacturer's stock worth $1,665,000 after acquiring an additional 1,176 shares in the last quarter. Finally, Robinhood Asset Management LLC bought a new stake in shares of Broadcom during the 4th quarter worth about $20,514,000. 76.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. The Goldman Sachs Group reissued a "buy" rating on shares of Broadcom in a research note on Monday, August 3rd. Dbs Bank raised Broadcom to a "moderate buy" rating in a research report on Thursday, June 18th. Evercore reiterated an "outperform" rating and set a $582.00 price target on shares of Broadcom in a report on Tuesday, May 19th. TD Cowen reissued a "buy" rating and issued a $500.00 price target on shares of Broadcom in a research report on Thursday, June 4th. Finally, UBS Group set a $485.00 price objective on shares of Broadcom and gave the stock a "buy" rating in a research note on Thursday, June 4th. Twenty-eight research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, Broadcom currently has an average rating of "Moderate Buy" and a consensus price target of $493.24.

Broadcom Stock Performance

NASDAQ:AVGO opened at $422.40 on Tuesday. The firm's 50-day moving average is $392.24 and its 200-day moving average is $371.22. Broadcom Inc. has a 52-week low of $281.87 and a 52-week high of $495.00. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.01 and a current ratio of 2.24. The company has a market cap of $2.01 trillion, a price-to-earnings ratio of 70.40, a PEG ratio of 0.82 and a beta of 1.45.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share 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 business had revenue of $22.19 billion during the quarter, compared to analysts' expectations of $22.13 billion. During the same quarter last year, the company earned $1.58 earnings per share. The firm's revenue was up 47.9% on a year-over-year basis. Equities research analysts anticipate that Broadcom Inc. will post 10.24 earnings per share for the current year.

Broadcom Dividend Announcement

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

Broadcom News Roundup

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom’s custom ASIC positioning remains a key bullish factor. AI semiconductor revenue has more than doubled year over year, with further substantial growth expected, helping the stock outperform some large semiconductor peers. Top Semiconductor Stock Outpacing Nvidia With a 36% Gain Over 6 Months
• Positive Sentiment: Investors continue to favor Broadcom’s combination of cloud-scale demand, enterprise adoption, booked AI growth and strong cash generation. Broadcom’s Brilliant Positioning is Why I Am Loading Up Over and Over
• Positive Sentiment: Broadcom expanded security capabilities in its VMware Cloud Foundation offering, including faster vDefend deployment, on-premises malware sandboxing and API protection. The additions support its enterprise software strategy, although competition from Nutanix and IBM remains intense. Broadcom Boosts VCF Security
• Positive Sentiment: Broker coverage remains constructive: analysts maintain a consensus “Moderate Buy” rating, while Erste Group raised its fiscal 2027 EPS estimate. Broadcom Given Consensus Rating of Moderate Buy
• Neutral Sentiment: The immediate move appears largely technical, with Broadcom slipping after its extended winning streak rather than following a reported earnings or guidance disappointment. Broadcom Slips After Seven-Session Advance
• Negative Sentiment: A potential FCC ban on Chinese optical transceivers could disrupt data-center supply chains and create uncertainty for AI infrastructure suppliers. AI Cold War Catches Light

Insider Transactions at Broadcom

In other Broadcom news, Director Justine Page sold 1,602 shares of the firm's stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $373.86, for a total value of $598,923.72. Following the completion of the sale, the director owned 17,426 shares in the company, valued at approximately $6,514,884.36. This trade represents a 8.42% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Harry L. You acquired 1,000 shares of the firm's stock in a transaction dated 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 directly owned 38,466 shares in the company, valued at $14,369,743.62. This represents a 2.67% increase in their position. The SEC filing for this purchase provides additional information. Insiders have sold a total of 61,644 shares of company stock worth $24,016,214 over the last 90 days. Insiders own 1.90% of the company's stock.

About Broadcom

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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