Broadcom Inc. $AVGO Shares Bought by Czech National Bank

Key Points

• Czech National Bank increased its Broadcom stake by 4.4% in the second quarter, purchasing 56,403 additional shares. Its 1.35 million shares were valued at approximately $509.1 million and represented 2.8% of its portfolio.
• Broadcom reported quarterly revenue of $22.19 billion and EPS of $2.44, exceeding analyst estimates, with revenue rising 47.9% year over year. Institutional investors own 76.43% of the company, while analysts maintain a “Moderate Buy” consensus and an average price target of $493.24.
• The company benefits from strong demand for custom AI chips and data-center infrastructure, but faces risks from its premium valuation, growing competition and potential U.S. restrictions affecting Chinese AI-component supply chains.

Czech National Bank lifted its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 4.4% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,347,668 shares of the semiconductor manufacturer's stock after acquiring an additional 56,403 shares during the quarter. Broadcom makes up about 2.8% of Czech National Bank's investment portfolio, making the stock its 6th largest position. Czech National Bank's holdings in Broadcom were worth $509,082,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in AVGO. Bank of America Corp DE raised its position in shares of 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 worth $18,179,719,000 after purchasing an additional 894,564 shares during the period. Bartlett & CO. Wealth Management LLC grew its position in shares of Broadcom by 129.3% in the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 110,048 shares of the semiconductor manufacturer's stock valued at $34,061,000 after purchasing an additional 62,050 shares during the period. Sovran Advisors LLC increased its stake in Broadcom by 121.3% during the 4th quarter. Sovran Advisors LLC now owns 30,631 shares of the semiconductor manufacturer's stock worth $10,507,000 after purchasing an additional 16,789 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. increased its stake in Broadcom by 406.1% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 11,994 shares of the semiconductor manufacturer's stock worth $4,151,000 after purchasing an additional 9,624 shares in the last quarter. Finally, Aspiriant LLC increased its stake in Broadcom by 18.5% during the 4th quarter. Aspiriant LLC now owns 12,016 shares of the semiconductor manufacturer's stock worth $4,158,000 after purchasing an additional 1,872 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company's stock.

Broadcom Stock Up 0.5%

Shares of Broadcom stock opened at $420.57 on Friday. The firm has a market cap of $2.00 trillion, a PE ratio of 70.10, a P/E/G ratio of 0.80 and a beta of 1.45. The business's 50 day simple moving average is $393.37 and its 200 day simple moving average is $370.05. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.01 and a current ratio of 2.24. Broadcom Inc. has a 52-week low of $281.87 and a 52-week high of $495.00.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its quarterly earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share for the quarter, topping analysts' consensus estimates of $2.40 by $0.04. The firm had revenue of $22.19 billion during 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 business's revenue was up 47.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.58 EPS. On average, analysts predict that Broadcom Inc. will post 10.24 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 22nd were given 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 of this dividend was Monday, June 22nd. Broadcom's payout ratio is currently 43.33%.

Key Broadcom News

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom is viewed as a major beneficiary of the shift toward custom AI chips. Its application-specific integrated circuits, networking silicon and optical-connectivity products are increasingly important to hyperscalers building large AI data centers, supporting expectations for significant earnings growth through 2027. Broadcom Is Down 20% From Its All-Time High. Here's Why It's a Screaming Bargain.
• Positive Sentiment: Record semiconductor and AI-chip demand is keeping Broadcom in focus, while analysts and market commentators describe the stock as approaching a technical breakout. The broader semiconductor rally and strong AI infrastructure spending are providing a favorable sector backdrop. Why Is Broadcom in Focus as AI Chips Set Records?
• Positive Sentiment: Broadcom introduced new VMware vDefend and Avi Load Balancer capabilities designed to improve cybersecurity, performance and operational efficiency in private-cloud environments. The updates could strengthen its infrastructure-software offering as enterprises prepare for AI workloads. Broadcom Enables Enterprises to Strengthen Multi-Layer Cyber Defense
• Neutral Sentiment: Articles comparing Broadcom with Microsoft, AMD and Nvidia highlight its strategic position in AI infrastructure, but also show that investors are weighing different ways to gain AI exposure rather than responding to a new company-specific financial catalyst. Microsoft vs. Broadcom: Two AI Powerhouses, One Better Investment
• Negative Sentiment: Potential U.S. restrictions on Chinese AI components and optical transceivers could create supply-chain bottlenecks, raise deployment costs and delay data-center projects. Although domestic suppliers may benefit over time, Broadcom could face near-term uncertainty because its chips and networking components are part of the interconnected supply chain. Broadcom, Marvell and Nvidia Could Feel the Impact of a China AI Component Ban
• Negative Sentiment: Broadcom’s strong AI outlook is already reflected in a premium valuation, leaving the stock vulnerable to profit-taking if growth expectations, customer spending or supply capacity disappoint. Competition from Marvell, Astera Labs and other custom-chip vendors is another risk. Broadcom Valuation and Growth Outlook

Analysts Set New Price Targets

A number of brokerages have weighed in on AVGO. Citigroup reaffirmed a "buy" rating on shares of Broadcom in a research note on Thursday, June 4th. Evercore reissued an "outperform" rating and set a $582.00 price objective on shares of Broadcom in a research report on Tuesday, May 19th. DA Davidson increased their price objective on shares of Broadcom from $375.00 to $400.00 and gave the stock a "neutral" rating in a research report on Thursday, June 4th. Susquehanna restated a "positive" rating and set a $490.00 price objective (up from $450.00) on shares of Broadcom in a report on Thursday, May 28th. Finally, UBS Group set a $485.00 price objective on shares of Broadcom and gave the company a "buy" rating in a research report 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 company's stock. Based on data from MarketBeat, Broadcom has an average rating of "Moderate Buy" and a consensus price target of $493.24.

Insider Buying and Selling at Broadcom

In related news, 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 transaction of $598,923.72. Following the completion of the transaction, the director owned 17,426 shares in the company, valued at approximately $6,514,884.36. This represents a 8.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Gayla J. Delly sold 1,890 shares of the firm's stock in a transaction on Wednesday, July 8th. The shares were sold at an average price of $385.38, for a total transaction of $728,368.20. Following the completion of the transaction, the director directly owned 31,326 shares of the company's stock, valued at approximately $12,072,413.88. This trade represents a 5.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 61,644 shares of company stock worth $24,016,214. Company 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.

Want to see what other hedge funds are holding AVGO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Broadcom Inc. (NASDAQ:AVGO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source