Broadcom Inc. $AVGO Stock Holdings Raised by Whittier Trust Co.

Key Points

• Whittier Trust Co. boosted its Broadcom stake by 5.6% in the first quarter, bringing its position to 839,540 shares worth about $264 million and making AVGO its 8th largest holding.
• Broadcom continues to attract institutional interest and bullish analyst support. About 76.43% of the stock is owned by institutions, while Wall Street targets remain elevated, with an average price target of $493.24 and several firms reiterating Buy/Overweight ratings.
• Fundamental news remains positive for Broadcom. The company recently beat quarterly EPS and revenue estimates, and its outlook is bolstered by Apple’s reported multiyear deal to buy more than $30 billion of Broadcom chips through 2031.

Whittier Trust Co. increased its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 5.6% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 839,540 shares of the semiconductor manufacturer's stock after acquiring an additional 44,514 shares during the period. Broadcom comprises approximately 3.0% of Whittier Trust Co.'s holdings, making the stock its 8th largest position. Whittier Trust Co.'s holdings in Broadcom were worth $263,976,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Bogart Wealth LLC boosted its stake in Broadcom by 106.6% during the 1st quarter. Bogart Wealth LLC now owns 70,682 shares of the semiconductor manufacturer's stock valued at $21,877,000 after purchasing an additional 36,465 shares during the last quarter. Dividend Assets Capital LLC raised its stake in shares of Broadcom by 26.3% in the first quarter. Dividend Assets Capital LLC now owns 42,299 shares of the semiconductor manufacturer's stock worth $13,092,000 after purchasing an additional 8,816 shares during the last quarter. Marietta Investment Partners LLC lifted its holdings in shares of Broadcom by 0.7% during the first quarter. Marietta Investment Partners LLC now owns 23,957 shares of the semiconductor manufacturer's stock valued at $7,415,000 after purchasing an additional 160 shares in the last quarter. Columbia Bank lifted its holdings in shares of Broadcom by 3.3% during the first quarter. Columbia Bank now owns 5,972 shares of the semiconductor manufacturer's stock valued at $1,848,000 after purchasing an additional 190 shares in the last quarter. Finally, Fortune 45 LLC increased its holdings in Broadcom by 33.9% in the 1st quarter. Fortune 45 LLC now owns 2,284 shares of the semiconductor manufacturer's stock worth $707,000 after buying an additional 578 shares in the last quarter. 76.43% of the stock is owned by institutional investors.

Key Headlines Impacting Broadcom

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 stock's 50-day simple moving average is $405.40 and its two-hundred day simple moving average is $363.87. The stock has a market capitalization of $1.91 trillion, a price-to-earnings ratio of 66.85, a PEG ratio of 0.68 and a beta of 1.45. Broadcom Inc. has a 52-week low of $269.58 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.

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

Broadcom Dividend Announcement

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

Insiders Place Their Bets

In other news, Director Justine Page sold 1,602 shares of Broadcom 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 transaction, the director owned 17,426 shares in the company, valued at $6,514,884.36. This trade represents a 8.42% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Mark David Brazeal sold 4,825 shares of the business's stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $394.91, for a total transaction of $1,905,440.75. Following the sale, the insider directly owned 269,989 shares of the company's stock, valued at approximately $106,621,355.99. The trade was a 1.76% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 9,754 shares of company stock worth $3,774,846. Company insiders own 1.90% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on AVGO shares. Erste Group Bank reissued a "hold" rating on shares of Broadcom in a research report on Tuesday. Bank of America lifted their price target on shares of Broadcom from $450.00 to $530.00 and gave the stock a "buy" rating in a research note on Thursday, June 4th. KeyCorp reissued an "overweight" rating and set a $575.00 price objective (up from $500.00) on shares of Broadcom in a report on Thursday, June 4th. Deutsche Bank Aktiengesellschaft restated a "buy" rating and set a $515.00 price objective (up from $430.00) on shares of Broadcom in a research report on Thursday, June 4th. Finally, DA Davidson raised their target price on shares of Broadcom from $375.00 to $400.00 and gave the stock a "neutral" rating in a report on Thursday, June 4th. One investment analyst has rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, Broadcom currently has an average rating of "Moderate Buy" and an average price target of $493.24.

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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