Comerica Bank Acquires 2,975 Shares of Broadcom Inc. $AVGO

Key Points

• Comerica Bank increased its stake in Broadcom Inc. by 0.3% during Q1, holding over 1 million shares valued at approximately $180 million, marking it as their 16th largest investment.
• Broadcom's stock has shown positive momentum, opening at $294.00 with a recent price increase of 1.5%, and it has a market capitalization of $1.38 trillion.
• Insider trading activity includes significant sales, with one director unloading nearly 474,000 shares for around $125 million, reflecting a 1.23% decrease in their ownership of the company.

Comerica Bank lifted its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 0.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,077,601 shares of the semiconductor manufacturer's stock after acquiring an additional 2,975 shares during the quarter. Broadcom makes up about 0.8% of Comerica Bank's portfolio, making the stock its 16th biggest holding. Comerica Bank's holdings in Broadcom were worth $180,423,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Nuveen LLC acquired a new position in shares of Broadcom in the first quarter valued at $6,649,117,000. Price T Rowe Associates Inc. MD raised its holdings in Broadcom by 37.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 65,509,579 shares of the semiconductor manufacturer's stock valued at $10,968,270,000 after acquiring an additional 17,985,046 shares during the period. GAMMA Investing LLC lifted its position in Broadcom by 18,179.3% during the first quarter. GAMMA Investing LLC now owns 17,276,164 shares of the semiconductor manufacturer's stock worth $2,892,548,000 after acquiring an additional 17,181,652 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of Broadcom by 12.0% during the fourth quarter. Northern Trust Corp now owns 49,087,351 shares of the semiconductor manufacturer's stock worth $11,380,411,000 after acquiring an additional 5,258,925 shares during the period. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of Broadcom by 16.7% during the first quarter. Goldman Sachs Group Inc. now owns 31,854,414 shares of the semiconductor manufacturer's stock worth $5,333,384,000 after acquiring an additional 4,550,647 shares during the period. Institutional investors own 76.43% of the company's stock.

Insider Activity at Broadcom

In other news, Director Henry Samueli sold 473,898 shares of the company's stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $265.33, for a total transaction of $125,739,356.34. Following the transaction, the director owned 38,188,575 shares in the company, valued at approximately $10,132,574,604.75. This represents a 1.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Hock E. Tan sold 117,758 shares of the stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $252.91, for a total transaction of $29,782,175.78. Following the transaction, the chief executive officer directly owned 1,014,152 shares in the company, valued at $256,489,182.32. This trade represents a 10.40% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 830,516 shares of company stock worth $217,286,457 over the last ninety days. 2.00% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on AVGO. Seaport Res Ptn raised shares of Broadcom to a "strong-buy" rating in a research report on Wednesday, April 30th. Arete Research raised Broadcom to a "strong-buy" rating in a report on Monday, July 28th. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $340.00 price target on shares of Broadcom in a research note on Wednesday, August 13th. Cantor Fitzgerald reiterated an "overweight" rating and set a $300.00 price objective on shares of Broadcom in a research note on Friday, June 6th. Finally, Erste Group Bank upgraded shares of Broadcom from a "hold" rating to a "buy" rating in a research report on Thursday, June 5th. Three research 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 stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $300.96.

Broadcom Trading Up 0.8%

AVGO stock traded up $2.29 during midday trading on Wednesday, hitting $300.30. The stock had a trading volume of 13,751,096 shares, compared to its average volume of 25,826,541. 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 fifty day moving average price of $284.66 and a two-hundred day moving average price of $233.28. Broadcom Inc. has a 1-year low of $134.90 and a 1-year high of $317.35. The firm has a market cap of $1.41 trillion, a P/E ratio of 112.47, a price-to-earnings-growth ratio of 2.09 and a beta of 1.15.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its quarterly earnings data on Thursday, June 5th. The semiconductor manufacturer reported $1.58 earnings per share for the quarter, topping the consensus estimate 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% on a year-over-year basis. Broadcom has set its Q3 2025 guidance at EPS. On average, sell-side analysts predict that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Announces Dividend

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

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.