Glenview Trust Co Invests $147.70 Million in Broadcom Inc. $AVGO

Key Points

• Glenview Trust Co. acquired 477,192 Broadcom shares worth approximately $147.7 million in the second quarter, making AVGO its 16th-largest holding and about 1.4% of its portfolio. Institutional investors collectively own 76.43% of the company.
• Broadcom’s AI semiconductor revenue rose 221% to $16.7 billion, while its fiscal 2027 forecast increased to approximately $115 billion; the company reportedly sees potential for $230 billion in fiscal 2028 as hyperscalers expand custom-chip and networking investments.
• Broadcom exceeded quarterly earnings and revenue expectations, but investors face risks including its premium valuation, customer concentration, supply constraints and potential margin pressure. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $504.93.

Glenview Trust Co acquired a new position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund acquired 477,192 shares of the semiconductor manufacturer's stock, valued at approximately $147,696,000. Broadcom comprises about 1.4% of Glenview Trust Co's investment portfolio, making the stock its 16th largest holding.

A number of other institutional investors and hedge funds have also recently bought and sold shares of AVGO. Concorde Asset Management LLC grew its holdings in Broadcom by 5.5% during the 2nd quarter. Concorde Asset Management LLC now owns 2,186 shares of the semiconductor manufacturer's stock valued at $826,000 after buying an additional 114 shares during the last quarter. Balanced Rock Investment Advisors LLC increased its position in Broadcom by 20.3% during the second quarter. Balanced Rock Investment Advisors LLC now owns 937 shares of the semiconductor manufacturer's stock worth $354,000 after buying an additional 158 shares in the last quarter. Dearborn Partners LLC acquired a new position in shares of Broadcom in the second quarter worth $3,862,000. Yukon Wealth Management Inc. lifted its position in shares of Broadcom by 310.3% in the second quarter. Yukon Wealth Management Inc. now owns 10,262 shares of the semiconductor manufacturer's stock valued at $3,877,000 after acquiring an additional 7,761 shares in the last quarter. Finally, WNY Asset Management LLC lifted its position in shares of Broadcom by 22.1% in the second quarter. WNY Asset Management LLC now owns 2,479 shares of the semiconductor manufacturer's stock valued at $937,000 after acquiring an additional 448 shares in the last quarter. Hedge funds and other institutional investors own 76.43% of the company's stock.

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?

Insider Activity

In other Broadcom news, Director Harry You bought 1,000 shares of the stock in a transaction dated Thursday, June 11th. The stock was bought at an average cost of $373.57 per share, for a total transaction of $373,570.00. Following the completion of the purchase, the director directly owned 38,466 shares of the company's stock, valued at approximately $14,369,743.62. The trade was a 2.67% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Mark Brazeal sold 25,000 shares of Broadcom stock in a transaction dated 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 sale, the insider directly owned 194,989 shares in the company, valued at approximately $78,254,935.37. The trade was a 11.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 61,644 shares of company stock worth $24,016,214. 1.90% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

AVGO has been the subject of a number of recent research reports. DA Davidson set a $350.00 price objective on Broadcom and gave the stock a "neutral" rating in a research report on Friday. TD Cowen reiterated a "buy" rating and set a $475.00 price target (down from $500.00) on shares of Broadcom in a report on Thursday. Zacks Research downgraded shares of Broadcom from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 21st. Susquehanna restated a "positive" rating and set a $490.00 target price (up from $450.00) on shares of Broadcom in a research report on Thursday, May 28th. Finally, Evercore set a $578.00 price target on Broadcom in a report on Thursday. Thirty investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $504.93.

Broadcom Price Performance

AVGO opened at $357.89 on Tuesday. Broadcom Inc. has a 1 year low of $289.96 and a 1 year high of $495.00. The company's 50 day simple moving average is $383.28 and its 200 day simple moving average is $377.77. The stock has a market capitalization of $1.70 trillion, a PE ratio of 45.71 and a beta of 1.44. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.29 and a current ratio of 2.50.

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

Broadcom Announces Dividend

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

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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