Choate Investment Advisors Buys 18,114 Shares of Broadcom Inc. $AVGO

Key Points

• Choate Investment Advisors increased its Broadcom stake by 53.4% in the fourth quarter, buying 18,114 additional shares to bring its total holdings to 52,050 shares worth about $18.0 million.
• Broadcom continues to attract strong analyst support, with several firms raising price targets and the stock carrying a Moderate Buy consensus rating. The average price target stands at $454.55, with some targets as high as $582.
• The company reported solid quarterly results, beating earnings and revenue estimates, while recent market commentary remains upbeat on Broadcom’s AI infrastructure positioning. The stock also recently traded near its 52-week high after a strong run.

Choate Investment Advisors grew its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 53.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 52,050 shares of the semiconductor manufacturer's stock after buying an additional 18,114 shares during the period. Choate Investment Advisors' holdings in Broadcom were worth $18,014,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of AVGO. Miller Global Investments LLC bought a new stake in Broadcom in the fourth quarter worth $31,000. Nvest Wealth Strategies Inc. bought a new stake in Broadcom in the fourth quarter worth $33,000. Family CFO Inc bought a new stake in Broadcom in the fourth quarter worth $35,000. PayPay Securities Corp increased its position in Broadcom by 88.9% in the fourth quarter. PayPay Securities Corp now owns 119 shares of the semiconductor manufacturer's stock worth $41,000 after purchasing an additional 56 shares during the last quarter. Finally, Camelot Portfolios LLC bought a new stake in Broadcom in the fourth quarter worth $45,000. Institutional investors own 76.43% of the company's stock.

Analysts Set New Price Targets

AVGO has been the topic of several research reports. TD Cowen restated a "buy" rating and issued a $500.00 price target (up from $405.00) on shares of Broadcom in a research report on Friday, May 15th. Wells Fargo & Company restated an "overweight" rating and issued a $545.00 price target (up from $430.00) on shares of Broadcom in a research report on Thursday, May 14th. Weiss Ratings upgraded shares of Broadcom from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Wednesday. DA Davidson upgraded shares of Broadcom to a "hold" rating in a research report on Friday, February 13th. Finally, Evercore restated an "outperform" rating and issued a $582.00 price target on shares of Broadcom in a research report on Tuesday, May 19th. One investment analyst has rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $454.55.

Insider Activity

In other Broadcom news, insider Charlie B. Kawwas sold 39,116 shares of the business's stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $321.61, for a total transaction of $12,580,096.76. Following the transaction, the insider owned 74,626 shares in the company, valued at $24,000,467.86. The trade was a 34.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Mark David Brazeal sold 50,488 shares of the business's stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $321.60, for a total transaction of $16,236,940.80. Following the transaction, the insider owned 278,141 shares in the company, valued at $89,450,145.60. This trade represents a 15.36% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 324,282 shares of company stock worth $106,425,249. 1.90% of the stock is currently owned by insiders.

Broadcom Trading Up 4.7%

AVGO stock opened at $446.77 on Friday. The company has a quick ratio of 1.73, a current ratio of 1.90 and a debt-to-equity ratio of 0.80. Broadcom Inc. has a twelve month low of $234.90 and a twelve month high of $448.90. The stock has a market capitalization of $2.12 trillion, a price-to-earnings ratio of 87.26, a price-to-earnings-growth ratio of 0.88 and a beta of 1.43. The firm's fifty day simple moving average is $383.52 and its two-hundred day simple moving average is $358.56.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its quarterly earnings data on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 earnings per share for the quarter, beating analysts' consensus estimates of $2.03 by $0.02. Broadcom had a net margin of 36.57% and a return on equity of 38.61%. The business had revenue of $19.31 billion for the quarter, compared to analysts' expectations of $19.10 billion. During the same quarter in the previous year, the business posted $1.60 earnings per share. The business's revenue was up 29.5% compared to the same quarter last year. As a group, analysts anticipate that Broadcom Inc. will post 9.91 earnings per share for the current year.

Broadcom Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Monday, March 23rd were given a dividend of $0.65 per share. The ex-dividend date was Monday, March 23rd. This represents a $2.60 dividend on an annualized basis and a yield of 0.6%. Broadcom's payout ratio is 50.78%.

Key Stories Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom continues to be highlighted as a key behind-the-scenes AI winner, with articles arguing its revenue and earnings could more than double between FY25 and FY27 as demand for AI infrastructure remains strong. Best AI Stocks to Buy in June and Hold Forever: AVGO
• Positive Sentiment: Broadcom was also named one of Claude AI’s top stock picks for 2026, reinforcing the market’s view that the company is a leading AI infrastructure play. Broadcom (AVGO) is Among Claude AI’s Top Stock Picks for 2026
• Positive Sentiment: Investor sentiment remains constructive after Broadcom unveiled new edge-AI networking silicon and a Samsung partnership for fixed wireless access, which could expand its footprint in next-gen connectivity. Broadcom's BCM68850 Boosts AVGO's Edge AI Push: More Upside Ahead?
• Positive Sentiment: Broadcom was featured in commentary from Jim Cramer and other market-watch articles emphasizing its custom chips for major hyperscalers and its strong long-term positioning in AI infrastructure. Jim Cramer Explains “Why We’ve Stuck With Broadcom”
• Neutral Sentiment: Several pieces noted that AVGO is one of the market’s most watched semiconductor names, with traders focusing on whether the recent rally can continue near resistance and ahead of upcoming earnings. Broadcom Inc. (AVGO) Is a Trending Stock: Facts to Know Before Betting on It
• Negative Sentiment: There was also some caution around the broader chip sector, with articles warning that the AI/silicon rally may be getting extended and could be vulnerable if growth expectations cool. What If Chip Stocks Aren't in a Supercycle After All?
• Negative Sentiment: Discovery Capital Management disclosed a sale of 83,200 Broadcom shares, a modest headwind that could signal some profit-taking by a large holder. Discovery Capital Management pares Broadcom stake, sells 83,200 shares

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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