Broadcom Inc. $AVGO Shares Acquired by Park National Corp OH

Key Points

• Park National Corp OH sharply increased its Broadcom stake in the first quarter, boosting holdings by 482.9% to 63,062 shares valued at about $19.5 million.
• Broadcom’s latest quarter showed strong results, with EPS of $2.44 and revenue of $22.19 billion, both ahead of estimates. Revenue rose 47.9% year over year, helped by surging AI semiconductor demand.
• Analyst sentiment remains constructive, with multiple firms raising price targets and the stock carrying a Moderate Buy consensus rating. Recent commentary also highlighted Broadcom’s AI growth story and record bookings/backlog as key supports for the shares.

Park National Corp OH grew its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 482.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 63,062 shares of the semiconductor manufacturer's stock after acquiring an additional 52,244 shares during the period. Park National Corp OH's holdings in Broadcom were worth $19,518,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Brown Brothers Harriman & Co. increased its holdings in shares of Broadcom by 10.7% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 77,411 shares of the semiconductor manufacturer's stock valued at $25,539,000 after purchasing an additional 7,499 shares in the last quarter. Dana Investment Advisors Inc. boosted its holdings in Broadcom by 2.6% during the third quarter. Dana Investment Advisors Inc. now owns 173,759 shares of the semiconductor manufacturer's stock worth $57,325,000 after buying an additional 4,442 shares in the last quarter. Sovran Advisors LLC grew its position in Broadcom by 121.3% during the fourth quarter. Sovran Advisors LLC now owns 30,631 shares of the semiconductor manufacturer's stock valued at $10,507,000 after buying an additional 16,789 shares during the period. Thurston Springer Miller Herd & Titak Inc. increased its holdings in Broadcom by 406.1% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 11,994 shares of the semiconductor manufacturer's stock valued at $4,151,000 after buying an additional 9,624 shares in the last quarter. Finally, Aspiriant LLC increased its holdings in Broadcom by 18.5% in the fourth quarter. Aspiriant LLC now owns 12,016 shares of the semiconductor manufacturer's stock valued at $4,158,000 after buying an additional 1,872 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company's stock.

Broadcom News Summary

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Analysts and market commentators are pointing to Broadcom’s strong AI demand as the main reason to stay bullish. Recent coverage highlighted record semiconductor sales, AI chip and networking demand, and strong customer commitments as evidence that the company’s AI growth story remains intact. Broadcom's AI Push Boosts Semiconductor Sales: More Upside Ahead?
• Positive Sentiment: JPMorgan reportedly reiterated buy-the-dip optimism, citing Broadcom’s multi-year Google partnership, record quarterly revenue of $22.19 billion, and AI semiconductor sales of $10.8 billion, up 143% year over year. The note also pointed to expectations for another step-up in AI-chip growth next quarter. Broadcom's AI boom — Google deal and huge revenue growth spark buy-the-dip calls
• Positive Sentiment: Several pieces argue that the market is overreacting to a modest AI revenue guide and that the selloff has created an accumulation opportunity. They emphasize that Broadcom’s revenue, semiconductor growth, AI bookings, and backlog are all at record levels, which supports the longer-term investment case. The Grandest Castle Ever Floated (and the Stocks to Profit From It)
• Positive Sentiment: Broadcom is also attracting broader investor attention and continued analyst support, including a consensus “Moderate Buy” rating, which may help stabilize sentiment after the recent decline. Broadcom Inc. NASDAQ: AVGO Receives Consensus Recommendation of "Moderate Buy" from Analysts

Analyst Upgrades and Downgrades

AVGO has been the subject of a number of analyst reports. Seaport Research Partners reiterated a "neutral" rating on shares of Broadcom in a research report on Wednesday, April 8th. Royal Bank Of Canada upped their price target on Broadcom from $360.00 to $400.00 and gave the stock a "sector perform" rating in a report on Thursday, June 4th. KeyCorp reiterated an "overweight" rating and set a $575.00 price target (up from $500.00) on shares of Broadcom in a research report on Thursday, June 4th. Wells Fargo & Company reissued an "overweight" rating and issued a $545.00 price objective (up from $430.00) on shares of Broadcom in a report on Thursday, May 14th. Finally, Benchmark boosted their price objective on Broadcom from $485.00 to $545.00 and gave the company a "buy" rating in a research report on Thursday, June 4th. One investment analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $490.13.

Insider Activity at Broadcom

In other Broadcom news, insider Charlie B. Kawwas sold 10,000 shares of Broadcom stock in a transaction on Wednesday, April 8th. The stock was sold at an average price of $345.23, for a total value of $3,452,300.00. Following the sale, the insider owned 787,184 shares in the company, valued at $271,759,532.32. The trade was a 1.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Justine Page sold 2,018 shares of the company's stock in a transaction on Wednesday, April 8th. The shares were sold at an average price of $353.00, for a total value of $712,354.00. Following the completion of the transaction, the director directly owned 18,164 shares in the company, valued at approximately $6,411,892. This trade represents a 10.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 59,385 shares of company stock valued at $21,301,057 over the last ninety days. Corporate insiders own 1.90% of the company's stock.

Broadcom Stock Performance

Shares of NASDAQ:AVGO opened at $392.13 on Tuesday. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.24 and a quick ratio of 2.01. Broadcom Inc. has a 1 year low of $246.46 and a 1 year high of $495.00. The firm has a market capitalization of $1.87 trillion, a PE ratio of 65.36, a P/E/G ratio of 0.72 and a beta of 1.41. The business's 50 day moving average price is $412.17 and its 200-day moving average price is $363.42.

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

Broadcom Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 22nd will be issued a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 0.7%. The ex-dividend date is Monday, June 22nd. Broadcom's dividend payout ratio is presently 43.33%.

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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