Broadcom Inc. $AVGO Shares Sold by First American Bank

Key Points

• First American Bank trimmed its Broadcom stake by 1.4% in the first quarter, selling 4,512 shares. Even after the reduction, Broadcom remained its second-largest holding at about 6.2% of the portfolio.
• Analysts remain broadly bullish on AVGO, with a consensus rating of “Moderate Buy” and an average price target of $493.24. Recent calls included JPMorgan raising its target to $580 and UBS setting a $485 target.
• Broadcom continues to show strong operating momentum, reporting Q2 EPS of $2.44 on revenue of $22.19 billion, both ahead of estimates. The company also declared a quarterly dividend of $0.65 per share, payable June 30.

First American Bank reduced its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 1.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 320,282 shares of the semiconductor manufacturer's stock after selling 4,512 shares during the quarter. Broadcom comprises about 6.2% of First American Bank's investment portfolio, making the stock its 2nd biggest position. First American Bank's holdings in Broadcom were worth $99,130,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. ROSS JOHNSON & Associates LLC increased its holdings in Broadcom by 1,320.0% in the 4th quarter. ROSS JOHNSON & Associates LLC now owns 71 shares of the semiconductor manufacturer's stock valued at $25,000 after purchasing an additional 66 shares in the last quarter. SWAN Capital LLC raised its position in Broadcom by 261.9% in the fourth quarter. SWAN Capital LLC now owns 76 shares of the semiconductor manufacturer's stock valued at $26,000 after purchasing an additional 55 shares during the period. Miller Global Investments LLC acquired a new position in shares of Broadcom during the fourth quarter worth about $31,000. Nvest Wealth Strategies Inc. acquired a new position in shares of Broadcom during the fourth quarter worth about $33,000. Finally, Family CFO Inc purchased a new stake in shares of Broadcom in the fourth quarter worth about $35,000. Institutional investors and hedge funds own 76.43% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on AVGO. Seaport Research Partners reiterated a "neutral" rating on shares of Broadcom in a research note on Wednesday, April 8th. UBS Group set a $485.00 price target on Broadcom and gave the stock a "buy" rating in a research report on Thursday, June 4th. JPMorgan Chase & Co. upped their price target on Broadcom from $500.00 to $580.00 and gave the stock an "overweight" rating in a report on Thursday, June 4th. Erste Group Bank raised shares of Broadcom from a "hold" rating to a "buy" rating in a research report on Friday, June 5th. Finally, Citigroup reiterated a "buy" rating on shares of Broadcom in a research note on Thursday, June 4th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, Broadcom currently has a consensus rating of "Moderate Buy" and a consensus target price of $493.24.

Insider Transactions at Broadcom

In other Broadcom news, insider Charlie B. Kawwas sold 10,000 shares of the firm's stock in a transaction on Wednesday, April 8th. The shares were sold at an average price of $345.23, for a total transaction of $3,452,300.00. Following the completion of the transaction, the insider directly owned 787,184 shares of the company's stock, valued at $271,759,532.32. This trade represents a 1.25% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider S. Ram Velaga sold 8,000 shares of the business's stock in a transaction dated Friday, April 10th. The stock was sold at an average price of $370.52, for a total transaction of $2,964,160.00. Following the completion of the sale, the insider directly owned 57,932 shares of the company's stock, valued at $21,464,964.64. The trade was a 12.13% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 59,385 shares of company stock valued at $21,301,057 over the last ninety days. 1.90% of the stock is currently owned by corporate insiders.

Key Headlines Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: OpenAI and Broadcom unveiled “Jalapeño,” a custom AI accelerator built for LLM inference, reinforcing Broadcom’s growing role in AI chip design and improving revenue visibility as deployment is expected in late 2026. Article Title
• Positive Sentiment: Additional coverage highlighted the Jalapeño AI accelerator as a sign that Broadcom is expanding its custom AI silicon roadmap, which could strengthen its position in high-margin AI infrastructure sales. Article Title
• Positive Sentiment: Analysts continue to view Broadcom as a favored long-term AI chip stock, with strong buy ratings reinforcing confidence in the company’s AI and networking growth outlook. Article Title
• Neutral Sentiment: A market note suggested investors may want to “buy the chip dip” and avoid hyperscalers for now, which is supportive for semiconductor names like Broadcom but does not specifically change AVGO’s fundamentals. Article Title
• Negative Sentiment: Broader AI-sector selloff headlines are weighing on sentiment across major tech leaders, suggesting valuation concerns may continue to pressure Broadcom despite its strong fundamentals. Article Title
• Negative Sentiment: One valuation-focused article argued that Broadcom and Marvell may face a “dangerous valuation gap,” which could raise investor concern that AVGO’s premium pricing is getting stretched. Article Title

Broadcom Stock Performance

NASDAQ:AVGO opened at $365.02 on Monday. The stock has a market cap of $1.74 trillion, a price-to-earnings ratio of 60.84, a price-to-earnings-growth ratio of 0.64 and a beta of 1.41. Broadcom Inc. has a one year low of $262.66 and a one year 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 business's 50-day simple moving average is $411.70 and its 200 day simple moving average is $363.08.

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. Broadcom had a return on equity of 41.61% and a net margin of 38.85%.The firm had revenue of $22.19 billion during the quarter, compared to analyst estimates of $22.13 billion. During the same quarter last year, the firm earned $1.58 EPS. Broadcom's quarterly revenue was up 47.9% on a year-over-year basis. As a group, sell-side analysts predict that Broadcom Inc. will post 10.24 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

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

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.

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.