Citizens Financial Group Inc. RI acquired a new stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 317,191 shares of the semiconductor manufacturer's stock, valued at approximately $119,819,000. Broadcom comprises about 1.4% of Citizens Financial Group Inc. RI's investment portfolio, making the stock its 11th biggest position.
Other institutional investors also recently bought and sold shares of the company. Texas Capital Bank Wealth Management Services Inc purchased a new stake in Broadcom during the 2nd quarter worth approximately $6,386,000. Cornerstone Advisors LLC acquired a new position in Broadcom during the 2nd quarter valued at approximately $92,522,000. Tortoise Investment Management LLC purchased a new position in shares of Broadcom in the second quarter worth $893,000. Aegis Wealth Management LLC purchased a new position in shares of Broadcom in the second quarter worth $850,000. Finally, Banco BTG Pactual S.A. acquired a new stake in shares of Broadcom during the second quarter worth $26,581,000. 76.43% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity at Broadcom
In related news, Director Gayla J. Delly sold 1,890 shares of Broadcom stock in a transaction that occurred on Wednesday, July 8th. The shares were sold at an average price of $385.38, for a total value of $728,368.20. Following the completion of the transaction, the director owned 31,326 shares in the company, valued at approximately $12,072,413.88. The trade was a 5.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 value of $598,923.72. Following the completion of the transaction, the director owned 17,426 shares of the company's stock, valued at approximately $6,514,884.36. This trade represents a 8.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 61,644 shares of company stock valued at $24,016,214. 1.90% of the stock is owned by insiders.
Trending Headlines about Broadcom
Here are the key news stories impacting Broadcom this week:
- Positive Sentiment: OpenAI chip partnership highlights custom-AI opportunity. Broadcom reportedly handled the physical implementation and supplied key technology for OpenAI’s “Jalapeño” inference chip, which OpenAI says can deliver up to 1.9 times more AI work per watt than comparison systems. The project reinforces Broadcom’s role as a leading provider of custom AI silicon and networking infrastructure. OpenAI Built an Nvidia-Beating Inference Chip in Nine Months
- Positive Sentiment: AI semiconductor momentum remains the key growth driver. Analysts point to accelerating demand for Broadcom’s custom XPUs, networking products, and AI data-center infrastructure, although NVIDIA and AMD are increasing competition. Broadcom Rides AI Semiconductor Growth
- Positive Sentiment: Kyndryl alliance supports VMware and private-cloud growth. The partnership expands Broadcom’s VMware Cloud Foundation reach among global enterprises, potentially strengthening recurring software revenue and demand for secure private-cloud modernization. New Kyndryl Partnership Strengthens Private Cloud and AI Growth Strategy
- Positive Sentiment: Brokerage support and institutional buying add confidence. BMO initiated coverage with an Outperform rating and a $455 target, while ARK Investment Management purchased 57,705 AVGO shares across three funds. BMO Starts Broadcom at Outperform With $455 Target
- Neutral Sentiment: NVIDIA’s earnings lifted the broader chip sector. Broadcom traded higher alongside semiconductor stocks, while investors also looked ahead to Broadcom’s next earnings report for evidence that AI demand is translating into sustained revenue and cash-flow growth. Broadcom Stock Making Moves Ahead of Earnings
- Neutral Sentiment: RBC reaffirmed a Sector Perform rating but set a $400 price target, implying moderate upside while signaling that much of the AI optimism may already be reflected in the shares.
- Negative Sentiment: Valuation and AI financing risks remain concerns. After a roughly sevenfold five-year gain, some analysis argues that Broadcom’s valuation depends heavily on continued AI growth. Debt-funded infrastructure spending and reliance on a limited group of major customers could increase downside risk if customer plans or AI investment slow. Broadcom Stock May Trade at a Discount After AI Debt Concerns
Analyst Upgrades and Downgrades
AVGO has been the topic of a number of research analyst reports. Truist Financial boosted their price objective on shares of Broadcom from $545.00 to $550.00 and gave the company a "buy" rating in a report on Thursday, June 4th. Wells Fargo & Company restated an "overweight" rating and issued a $545.00 target price (up from $430.00) on shares of Broadcom in a research note on Thursday, May 14th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $525.00 price target on shares of Broadcom in a research report on Thursday, June 4th. Weiss Ratings downgraded Broadcom from a "buy (b)" rating to a "buy (b-)" rating in a research note on Thursday, July 30th. Finally, BMO Capital Markets initiated coverage on Broadcom in a report on Thursday, August 20th. They issued an "outperform" rating and a $455.00 price objective on the stock. Twenty-nine investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $491.97.
Check Out Our Latest Stock Report on Broadcom
Broadcom Stock Performance
Shares of Broadcom stock opened at $371.54 on Friday. Broadcom Inc. has a one year low of $287.17 and a one year high of $495.00. The company has a market cap of $1.77 trillion, a price-to-earnings ratio of 61.92, a PEG ratio of 0.68 and a beta of 1.45. 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 moving average price is $385.92 and its 200 day moving average price is $376.31.
Broadcom (NASDAQ:AVGO - Get Free Report) last released its quarterly earnings data 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. Broadcom had a return on equity of 41.61% and a net margin of 38.85%.The company had revenue of $22.19 billion for the quarter, compared to analyst estimates of $22.13 billion. During the same quarter in the previous year, the company posted $1.58 earnings per share. The firm's revenue for the quarter was up 47.9% compared to the same quarter last year. On average, research analysts predict that Broadcom Inc. will post 10.24 EPS for the current year.
Broadcom Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 22nd were issued a dividend of $0.65 per share. The ex-dividend date was Monday, June 22nd. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.7%. Broadcom's dividend payout ratio is currently 43.33%.
Broadcom Profile
(
Free Report)
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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