First Citizens Bank & Trust Co. Reduces Stake in Broadcom Inc. $AVGO

Key Points

• First Citizens Bank & Trust Co. trimmed its Broadcom stake by 1.6% in the first quarter, selling 2,450 shares and ending with 149,012 shares valued at about $46.1 million.
• Broadcom saw continued institutional interest, with several major funds increasing positions, and hedge funds and other institutional investors now own 76.43% of the stock.
• Despite some insider selling, analysts remain broadly upbeat: Broadcom has a Moderate Buy consensus rating with an average price target of $493.24, and the company recently beat quarterly EPS and revenue estimates.

First Citizens Bank & Trust Co. lowered its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 1.6% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 149,012 shares of the semiconductor manufacturer's stock after selling 2,450 shares during the quarter. Broadcom makes up about 0.8% of First Citizens Bank & Trust Co.'s investment portfolio, making the stock its 17th largest holding. First Citizens Bank & Trust Co.'s holdings in Broadcom were worth $46,121,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in AVGO. Norges Bank bought a new stake in Broadcom in the fourth quarter valued at $24,252,196,000. Cardano Risk Management B.V. increased its position in Broadcom by 895.2% during the 4th quarter. Cardano Risk Management B.V. now owns 12,689,800 shares of the semiconductor manufacturer's stock valued at $4,391,940,000 after purchasing an additional 11,414,701 shares during the period. State Street Corp raised its holdings in Broadcom by 2.7% in the 4th quarter. State Street Corp now owns 190,084,351 shares of the semiconductor manufacturer's stock worth $65,788,194,000 after purchasing an additional 5,040,801 shares in the last quarter. Vanguard Group Inc. raised its holdings in Broadcom by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 482,707,302 shares of the semiconductor manufacturer's stock worth $167,064,997,000 after purchasing an additional 3,919,715 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its position in shares of Broadcom by 52.5% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 8,593,629 shares of the semiconductor manufacturer's stock worth $2,974,255,000 after purchasing an additional 2,959,397 shares during the period. 76.43% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Broadcom

In other news, insider Mark David Brazeal sold 25,000 shares of Broadcom stock in a transaction that occurred on Friday, July 10th. The shares were sold at an average price of $401.33, for a total transaction of $10,033,250.00. Following the completion of the transaction, the insider directly owned 194,989 shares in the company, valued at approximately $78,254,935.37. This trade represents a 11.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Justine Page sold 1,602 shares of Broadcom 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 transaction, the director owned 17,426 shares of the company's stock, valued at $6,514,884.36. The trade was a 8.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 61,644 shares of company stock worth $24,016,214 over the last three months. Company insiders own 1.90% of the company's stock.

Analysts Set New Price Targets

AVGO has been the topic of a number of research reports. UBS Group set a $485.00 target price on shares of Broadcom and gave the company a "buy" rating in a research note on Thursday, June 4th. JPMorgan Chase & Co. increased their price target on shares of Broadcom from $500.00 to $580.00 and gave the stock an "overweight" rating in a research note on Thursday, June 4th. Truist Financial raised their price objective on shares of Broadcom from $545.00 to $550.00 and gave the stock a "buy" rating in a report on Thursday, June 4th. Evercore reaffirmed an "outperform" rating and set a $582.00 price objective on shares of Broadcom in a research report on Tuesday, May 19th. Finally, KeyCorp reiterated an "overweight" rating and set a $575.00 target price (up from $500.00) on shares of Broadcom 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, the company presently has a consensus rating of "Moderate Buy" and an average target price of $493.24.

Key Headlines Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom continues to be viewed as one of the strongest AI infrastructure names, with articles highlighting durable AI bookings, customer commitments through 2028, and the company’s importance in data center networking. Article Title
• Positive Sentiment: Several bullish commentary pieces argue the recent AI pullback is a buying opportunity, with analysts and market writers saying Broadcom still has room to grow and should benefit from continued AI spending. Article Title
• Positive Sentiment: TSMC’s planned price increases could reinforce pricing power for leading AI chip suppliers like Broadcom, which may support margins and investor confidence if demand remains strong. Article Title
• Positive Sentiment: Institutional buying also offered a constructive signal, as Alecta Pensionsförsäkring reportedly boosted its Broadcom stake by 99,200 shares. Article Title
• Neutral Sentiment: Broadcom was mentioned in a broader semiconductor sector piece saying the group is consolidating after a strong 2026 rally, with concerns around valuation and leveraged positioning contributing to July weakness across the chip space. Article Title
• Neutral Sentiment: Broadcom was also included in general “high ROE” and dividend-focused articles, reinforcing its quality profile but not adding a major new catalyst. Article Title
• Negative Sentiment: One headline noted a “large increase” in short interest in Broadcom during July, but the reported figures showed zero shares short, so this appears to be a data anomaly rather than a meaningful bearish signal. Article Title

Broadcom Stock Down 2.7%

NASDAQ:AVGO opened at $381.92 on Friday. The firm's 50-day moving average price is $397.42 and its 200-day moving average price is $366.68. The company has a market capitalization of $1.82 trillion, a PE ratio of 63.65, a P/E/G ratio of 0.73 and a beta of 1.45. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.24 and a quick ratio of 2.01. Broadcom Inc. has a 1-year low of $281.61 and a 1-year high of $495.00.

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

Broadcom Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 22nd were issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date was Monday, June 22nd. Broadcom's dividend payout ratio is 43.33%.

Broadcom 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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