Glenview Trust Co Buys 8,094 Shares of Broadcom Inc. $AVGO

Glenview Trust Co grew its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 1.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 485,286 shares of the semiconductor manufacturer's stock after acquiring an additional 8,094 shares during the quarter. Broadcom comprises about 1.7% of Glenview Trust Co's portfolio, making the stock its 11th biggest position. Glenview Trust Co's holdings in Broadcom were worth $183,317,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently made changes to their positions in AVGO. State Street Corp grew its stake in Broadcom by 2.7% in the fourth quarter. State Street Corp now owns 190,084,351 shares of the semiconductor manufacturer's stock valued at $65,788,194,000 after purchasing an additional 5,040,801 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Broadcom by 1.4% during the fourth quarter. Geode Capital Management LLC now owns 111,277,280 shares of the semiconductor manufacturer's stock valued at $38,396,634,000 after buying an additional 1,548,699 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Broadcom by 3.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 85,546,083 shares of the semiconductor manufacturer's stock valued at $29,607,500,000 after buying an additional 2,491,644 shares during the last quarter. Norges Bank bought a new stake in shares of Broadcom in the 4th quarter valued at about $24,252,196,000. Finally, Bank of America Corp DE boosted its holdings in shares of Broadcom by 4.6% in the 2nd quarter. Bank of America Corp DE now owns 61,423,013 shares of the semiconductor manufacturer's stock valued at $23,202,543,000 after buying an additional 2,685,916 shares in the last quarter. 76.43% of the stock is owned by institutional investors.

Broadcom News Roundup

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom raised its fiscal 2027 AI-semiconductor revenue forecast to approximately $115 billion, up from more than $100 billion previously, and reportedly sees potential for about $230 billion in fiscal 2028. The outlook reflects sustained spending by hyperscalers on custom accelerators and AI infrastructure. Broadcom’s AI Forecast Suggests Hyperscalers Want More Than Just Nvidia GPUs
• Positive Sentiment: AI semiconductor revenue reportedly jumped 221% to $16.7 billion in the latest quarter. Broadcom is benefiting as large technology companies seek alternatives or complements to Nvidia GPUs, particularly for inference workloads, custom silicon and high-speed data-center networking. Broadcom Inc. Stock: Rises as Custom AI Silicon Fuels Massive Growth Outlook
• Positive Sentiment: Analysts and financial commentators increasingly characterize Broadcom as a major beneficiary of the expansion of customized AI infrastructure, alongside its strong free-cash-flow generation and AI networking exposure. The company’s custom-chip strategy could also pressure competitors such as AMD in hyperscaler accounts. Broadcom stock: Why the AI chipmaker’s growth story is gaining steam
• Neutral Sentiment: High-volume purchases of Broadcom call options indicate speculative bullish interest, but options activity does not guarantee sustained buying in the shares. Stock Traders Purchase High Volume of Broadcom Call Options
• Negative Sentiment: Investors remain concerned about Broadcom’s premium valuation, possible margin pressure, supply constraints and dependence on a limited number of large customers. These risks help explain why the stock has declined over the past three months despite its strong AI growth outlook. Broadcom Drops 10% in 3 Months: Buy, Sell or Hold the Stock?

Analysts Set New Price Targets

Several research analysts recently commented on AVGO shares. Truist Financial reduced their price objective on shares of Broadcom from $550.00 to $520.00 and set a "buy" rating for the company in a research note on Thursday, September 3rd. Dbs Bank raised shares of Broadcom to a "moderate buy" rating in a report on Thursday, June 18th. DA Davidson set a $350.00 price target on shares of Broadcom and gave the stock a "neutral" rating in a report on Friday. JPMorgan Chase & Co. upped their price target on Broadcom from $500.00 to $580.00 and gave the stock an "overweight" rating in a research report on Thursday, June 4th. Finally, Susquehanna reiterated a "positive" rating and set a $490.00 price objective (up from $450.00) on shares of Broadcom in a report on Thursday, May 28th. Thirty research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat.com, Broadcom currently has a consensus rating of "Moderate Buy" and a consensus price target of $504.93.

Insider Activity at Broadcom

In related news, Director Gayla Delly sold 1,890 shares of the company's stock in a transaction on Wednesday, July 8th. The stock was sold at an average price of $385.38, for a total value of $728,368.20. Following the transaction, the director directly owned 31,326 shares of the company's stock, valued at $12,072,413.88. This represents a 5.69% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Mark Brazeal sold 25,000 shares of the firm's stock in a transaction on Friday, July 10th. The stock was sold at an average price of $401.33, for a total value of $10,033,250.00. Following the completion of the transaction, the insider owned 194,989 shares of the company's stock, valued at $78,254,935.37. This trade represents a 11.36% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 61,644 shares of company stock valued at $24,016,214 over the last three months. 1.90% of the stock is owned by corporate insiders.

Broadcom Stock Performance

Shares of Broadcom stock opened at $357.89 on Tuesday. The company has a 50 day moving average price of $383.28 and a 200 day moving average price of $377.77. The firm has a market capitalization of $1.70 trillion, a P/E ratio of 45.71 and a beta of 1.44. The company has a quick ratio of 2.29, a current ratio of 2.50 and a debt-to-equity ratio of 0.57. Broadcom Inc. has a 52 week low of $289.96 and a 52 week high of $495.00.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its earnings results on Wednesday, September 2nd. The semiconductor manufacturer reported $3.32 earnings per share for the quarter, topping the consensus estimate of $3.22 by $0.10. Broadcom had a net margin of 42.94% and a return on equity of 48.33%. The company had revenue of $29.59 billion for the quarter, compared to the consensus estimate of $29.24 billion. During the same quarter in the previous year, the firm earned $1.69 EPS. Broadcom's revenue was up 85.5% compared to the same quarter last year. Sell-side analysts expect that Broadcom Inc. will post 10.25 EPS for the current year.

Broadcom Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Monday, September 21st will be issued a dividend of $0.65 per share. The ex-dividend date of this dividend is Monday, September 21st. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.7%. Broadcom's payout ratio is 33.21%.

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.

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