Cadence Bank Has $38.07 Million Holdings in Broadcom Inc. $AVGO

Key Points

• Cadence Bank reduced its holdings in Broadcom Inc. by 7.6%, owning 227,383 shares worth approximately $38.07 million, making it the bank's sixth largest investment.
• Several institutional investors have increased their stake in Broadcom, with Brighton Jones LLC upping their holdings by 21.8% in the fourth quarter.
• Broadcom's recent earnings report showed a 20.2% increase in revenue year-over-year, with an EPS of $1.58, slightly above analysts' expectations.

Cadence Bank lowered its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 7.6% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 227,383 shares of the semiconductor manufacturer's stock after selling 18,788 shares during the quarter. Broadcom accounts for approximately 2.7% of Cadence Bank's investment portfolio, making the stock its 6th largest position. Cadence Bank's holdings in Broadcom were worth $38,071,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of AVGO. Brighton Jones LLC increased its holdings in shares of Broadcom by 21.8% in the fourth quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer's stock valued at $6,882,000 after buying an additional 5,322 shares in the last quarter. Revolve Wealth Partners LLC increased its holdings in shares of Broadcom by 10.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 7,997 shares of the semiconductor manufacturer's stock valued at $1,854,000 after buying an additional 756 shares in the last quarter. Bank Pictet & Cie Europe AG increased its holdings in shares of Broadcom by 16.4% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 221,199 shares of the semiconductor manufacturer's stock valued at $51,283,000 after buying an additional 31,225 shares in the last quarter. Renaissance Technologies LLC bought a new position in shares of Broadcom in the fourth quarter valued at $602,000. Finally, Stonebridge Capital Advisors LLC increased its holdings in shares of Broadcom by 4.8% in the fourth quarter. Stonebridge Capital Advisors LLC now owns 2,525 shares of the semiconductor manufacturer's stock valued at $585,000 after buying an additional 115 shares in the last quarter. Institutional investors own 76.43% of the company's stock.

Analyst Ratings Changes

A number of research firms recently weighed in on AVGO. Cowen reiterated a "buy" rating on shares of Broadcom in a research report on Friday, June 6th. Susquehanna increased their price target on Broadcom from $280.00 to $300.00 and gave the company a "positive" rating in a research report on Friday, June 6th. UBS Group increased their price target on Broadcom from $270.00 to $290.00 and gave the company a "buy" rating in a research report on Friday, June 6th. Barclays increased their price target on Broadcom from $215.00 to $265.00 and gave the company an "overweight" rating in a research report on Monday, June 9th. Finally, Wells Fargo & Company increased their price target on Broadcom from $230.00 to $255.00 and gave the company an "equal weight" rating in a research report on Friday, June 6th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, Broadcom has an average rating of "Buy" and an average price target of $298.67.

Broadcom Trading Up 1.5%

Shares of NASDAQ AVGO opened at $294.00 on Friday. Broadcom Inc. has a one year low of $134.90 and a one year high of $317.35. The firm has a market capitalization of $1.38 trillion, a PE ratio of 110.11, a PEG ratio of 2.06 and a beta of 1.15. The company has a current ratio of 1.08, a quick ratio of 0.98 and a debt-to-equity ratio of 0.89. The business has a 50-day moving average price of $282.85 and a two-hundred day moving average price of $232.33.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its quarterly earnings data on Thursday, June 5th. The semiconductor manufacturer reported $1.58 EPS for the quarter, topping analysts' consensus estimates of $1.57 by $0.01. Broadcom had a return on equity of 35.49% and a net margin of 22.64%.The firm had revenue of $15 billion during the quarter, compared to analyst estimates of $14.98 billion. During the same period last year, the company posted $10.96 EPS. The business's quarterly revenue was up 20.2% compared to the same quarter last year. Broadcom has set its Q3 2025 guidance at EPS. As a group, analysts predict that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 20th were issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Friday, June 20th. Broadcom's payout ratio is currently 88.39%.

Insider Buying and Selling at Broadcom

In other news, Director Gayla J. Delly sold 3,000 shares of Broadcom stock in a transaction dated Thursday, June 26th. The stock was sold at an average price of $265.13, for a total transaction of $795,390.00. Following the completion of the sale, the director directly owned 33,352 shares in the company, valued at $8,842,615.76. The trade was a 8.25% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Kirsten M. Spears sold 36,350 shares of Broadcom stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $261.27, for a total value of $9,497,164.50. Following the sale, the chief financial officer owned 325,587 shares of the company's stock, valued at approximately $85,066,115.49. This represents a 10.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 830,516 shares of company stock worth $217,286,457 over the last quarter. Insiders own 2.00% of the company's stock.

About Broadcom

Broadcom Inc designs, develops, and supplies various semiconductor devices with a focus on complex digital and mixed signal complementary metal oxide semiconductor based devices and analog III-V based products worldwide. The company operates in two segments, Semiconductor Solutions and Infrastructure Software.

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