Fifth Third Bancorp Increases Stock Holdings in Broadcom Inc. $AVGO

Fifth Third Bancorp increased its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 35.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,732,367 shares of the semiconductor manufacturer's stock after buying an additional 978,805 shares during the period. Broadcom accounts for about 2.1% of Fifth Third Bancorp's portfolio, making the stock its 8th largest position. Fifth Third Bancorp owned 0.08% of Broadcom worth $1,155,205,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of AVGO. Brighton Jones LLC lifted its position in shares of Broadcom by 21.8% in the 4th quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer's stock worth $6,882,000 after purchasing an additional 5,322 shares during the period. Revolve Wealth Partners LLC increased its position in Broadcom by 10.4% during the 4th 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. United Bank increased its holdings in shares of Broadcom by 76.5% during the first quarter. United Bank now owns 2,339 shares of the semiconductor manufacturer's stock valued at $392,000 after acquiring an additional 1,014 shares in the last quarter. Sivia Capital Partners LLC raised its holdings in shares of Broadcom by 10.1% in the second quarter. Sivia Capital Partners LLC now owns 12,693 shares of the semiconductor manufacturer's stock worth $3,499,000 after buying an additional 1,160 shares during the last quarter. Finally, Capital & Planning LLC lifted its position in Broadcom by 10.5% during the 2nd quarter. Capital & Planning LLC now owns 3,983 shares of the semiconductor manufacturer's stock worth $1,098,000 after acquiring an additional 378 shares during the period. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Trending Headlines about Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Evercore ISI said Broadcom’s multiyear agreement with Apple is strategically positive, as it strengthens Apple’s AI compute silicon efforts and extends Broadcom’s role as a key custom-chip partner. Broadcom Inc. (AVGO) Agreement a Strategic Positive for Apple, says Evercore ISI
• Positive Sentiment: Reports say Broadcom secured its role as a key Apple supplier through 2031, giving investors more confidence in a long-duration revenue stream. Broadcom Inc. (AVGO) Secures Role as Key Apple Supplier with Chip Deal through 2031
• Positive Sentiment: Morgan Stanley described Broadcom as a “core AI winner,” keeping the stock in focus as one of the main beneficiaries of AI infrastructure spending. Broadcom is a 'core AI winner,' even as MediaTek encroaches, Morgan Stanley says
• Neutral Sentiment: Additional commentary highlighted Broadcom as a major AI stock and a possible outperformer versus other chip names, which adds to the bullish narrative but does not change the near-term business outlook directly. Is Broadcom Inc. (AVGO) a Buy as Wall Street Analysts Look Optimistic?
• Negative Sentiment: There was also an insider-selling headline, which can weigh on sentiment even if it does not necessarily reflect a change in the company’s fundamentals. Insider Selling: Broadcom NASDAQ: AVGO Insider Sells $9,479,750.00 in Stock

Analyst Ratings Changes

AVGO has been the topic of several recent research reports. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $525.00 price objective on shares of Broadcom in a report on Thursday, June 4th. Seaport Research Partners reissued a "neutral" rating on shares of Broadcom in a research note on Wednesday, April 8th. Rosenblatt Securities reiterated a "buy" rating and set a $500.00 price objective on shares of Broadcom in a research note on Thursday, June 4th. Zacks Research lowered shares of Broadcom from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 21st. Finally, Jefferies Financial Group set a $550.00 price target on Broadcom and gave the company a "buy" rating in a report on Thursday, June 4th. One research analyst has rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Broadcom has an average rating of "Moderate Buy" and a consensus price target of $493.24.

Insider Activity

In other Broadcom news, Director Harry L. You purchased 1,000 shares of the stock in a transaction that occurred 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 completion of the acquisition, the director directly owned 38,466 shares of the company's stock, valued at $14,369,743.62. This trade represents a 2.67% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Gayla J. Delly sold 1,890 shares of the company's stock in a transaction on Wednesday, July 8th. The shares were sold at an average price of $385.38, for a total transaction of $728,368.20. Following the completion of the transaction, the director owned 31,326 shares of the company's stock, valued at approximately $12,072,413.88. The trade was a 5.69% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 61,644 shares of company stock worth $24,016,214. Insiders own 1.90% of the company's stock.

Broadcom Trading Up 1.3%

Shares of NASDAQ AVGO opened at $389.11 on Wednesday. The company has a current ratio of 2.24, a quick ratio of 2.01 and a debt-to-equity ratio of 0.71. The stock has a market capitalization of $1.85 trillion, a PE ratio of 64.85, a PEG ratio of 0.67 and a beta of 1.45. The stock has a fifty day simple moving average of $403.86 and a 200-day simple moving average of $364.80. Broadcom Inc. has a twelve month low of $273.00 and a twelve month high of $495.00.

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

Broadcom Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 22nd were given a dividend of $0.65 per share. 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 payout ratio is currently 43.33%.

Broadcom Company Profile

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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