Cypress Capital Group Has $17.17 Million Stock Holdings in Broadcom Inc. $AVGO

Key Points

• Cypress Capital Group reduced its Broadcom position by 3.3% in the first quarter, selling 1,884 shares and retaining 55,472 shares valued at approximately $17.17 million. Institutional investors collectively own 76.43% of Broadcom.
• Broadcom reported quarterly earnings of $2.44 per share and revenue of $22.19 billion, exceeding estimates, while revenue increased 47.9% year over year. The company also declared a quarterly dividend of $0.65 per share, representing a 0.7% yield.
• Analysts maintain a generally positive outlook, with a “Moderate Buy” consensus and an average price target of $493.24, though the stock’s elevated valuation and concerns about AI spending sustainability and customer concentration remain risks.

Cypress Capital Group decreased its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 3.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 55,472 shares of the semiconductor manufacturer's stock after selling 1,884 shares during the quarter. Broadcom accounts for approximately 1.9% of Cypress Capital Group's holdings, making the stock its 14th biggest holding. Cypress Capital Group's holdings in Broadcom were worth $17,169,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Bartlett & CO. Wealth Management LLC boosted its position in Broadcom by 129.3% in the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 110,048 shares of the semiconductor manufacturer's stock valued at $34,061,000 after buying an additional 62,050 shares during the last quarter. Sovran Advisors LLC raised its position in shares of Broadcom by 121.3% during the fourth quarter. Sovran Advisors LLC now owns 30,631 shares of the semiconductor manufacturer's stock worth $10,507,000 after acquiring an additional 16,789 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its position in shares of Broadcom by 406.1% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 11,994 shares of the semiconductor manufacturer's stock worth $4,151,000 after acquiring an additional 9,624 shares during the last quarter. Aspiriant LLC lifted its stake in shares of Broadcom by 18.5% during the fourth quarter. Aspiriant LLC now owns 12,016 shares of the semiconductor manufacturer's stock valued at $4,158,000 after acquiring an additional 1,872 shares during the period. Finally, Western Financial Corp CA lifted its stake in shares of Broadcom by 90.5% during the fourth quarter. Western Financial Corp CA now owns 6,481 shares of the semiconductor manufacturer's stock valued at $2,243,000 after acquiring an additional 3,079 shares during the period. Institutional investors and hedge funds own 76.43% of the company's stock.

Broadcom Stock Down 0.6%

Shares of Broadcom stock opened at $380.91 on Wednesday. The business has a fifty day simple moving average of $396.06 and a 200 day simple moving average of $367.39. The stock has a market cap of $1.81 trillion, a PE ratio of 63.49, a price-to-earnings-growth ratio of 0.73 and a beta of 1.45. The company has a quick ratio of 2.01, a current ratio of 2.24 and a debt-to-equity ratio of 0.71. Broadcom Inc. has a 12 month low of $281.61 and a 12 month high of $495.00.

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

Broadcom Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 22nd were paid a $0.65 dividend. The ex-dividend date of this dividend 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 43.33%.

Insider Activity

In related news, Director Justine Page sold 1,602 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the director owned 17,426 shares in the company, valued at approximately $6,514,884.36. The trade was a 8.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Harry L. You bought 1,000 shares of the stock in a transaction on Thursday, June 11th. The stock was purchased at an average cost of $373.57 per share, with a total value of $373,570.00. Following the purchase, the director directly owned 38,466 shares of the company's stock, valued at approximately $14,369,743.62. This represents a 2.67% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders have sold 61,644 shares of company stock valued at $24,016,214. Insiders own 1.90% of the company's stock.

Broadcom News Summary

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom’s custom-silicon business continues to attract demand from hyperscalers building AI infrastructure, with new client wins supporting the company’s growth outlook. Broadcom Rose on Strong Custom Silicon Demand and New Client Wins
• Positive Sentiment: Alphabet plans to spend approximately $195 billion to $205 billion on capital expenditures this year, maintaining a substantial customer opportunity for AI processors supplied by Broadcom and Nvidia. Alphabet CEO Sundar Pichai Just Made a Major Decision Affecting Nvidia and Broadcom Investors
• Positive Sentiment: J.P. Morgan said Broadcom will source most of its memory requirements from Samsung through 2030, potentially improving supply visibility as AI-related memory demand expands. Broadcom's Expanded Samsung Pact Shows AI Trade Is Still All About Memory
• Positive Sentiment: Recent investor commentary highlights Broadcom as a direct beneficiary of rising data-center infrastructure spending, with its custom silicon and networking products positioned as a way to monetize hyperscaler AI investment. I'm Buying Broadcom This Week For One Powerful Reason
• Neutral Sentiment: Broadcom has delivered strong long-term shareholder returns and recently benefited from solid quarterly results, although those gains have contributed to elevated expectations. 3 Big Reasons to Love Broadcom
• Negative Sentiment: The immediate pressure on AVGO is sector-wide: chip stocks extended their pullback as investors questioned whether the AI trade resembles a bubble, weighing on the Nasdaq and semiconductor valuations. Chip Stocks Extend Pullback Amid AI Bubble Fears
• Negative Sentiment: Investors remain concerned that hyperscaler capital-expenditure plans could slow or that Broadcom’s dependence on major customers, including Google, may limit its valuation upside. These concerns are competing with the company’s AI growth narrative. Broadcom: Why the Google Share Panic Misses What Broadcom's Moat Actually Is

Analysts Set New Price Targets

AVGO has been the subject of a number of research reports. Weiss Ratings upgraded Broadcom from a "buy (b-)" rating to a "buy (b)" rating in a research report on Wednesday, July 15th. Rosenblatt Securities restated a "buy" rating and set a $500.00 target price on shares of Broadcom in a research report on Thursday, June 4th. Zacks Research lowered shares of Broadcom from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 21st. Evercore reiterated an "outperform" rating and set a $582.00 price target on shares of Broadcom in a research report on Tuesday, May 19th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and set a $525.00 price target on shares of Broadcom in a research report on Thursday, June 4th. Twenty-eight research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock presently 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.