Greenleaf Trust Boosts Holdings in Broadcom Inc. $AVGO

Key Points

• Greenleaf Trust increased its Broadcom stake by 1.2% in the second quarter, bringing its holdings to 114,951 shares worth approximately $43.4 million. Institutional investors collectively own 76.43% of AVGO.
• Broadcom reported quarterly EPS of $2.44, exceeding estimates of $2.40, while revenue rose 47.9% year over year to $22.19 billion. The company also declared a quarterly dividend of $0.65 per share, equivalent to a 0.7% annual yield.
• Analysts maintain a bullish outlook, with 28 Buy ratings and four Holds producing a “Moderate Buy” consensus and an average price target of $493.24, above the reported share price of $393.05.

Greenleaf Trust increased its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 1.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 114,951 shares of the semiconductor manufacturer's stock after acquiring an additional 1,341 shares during the quarter. Broadcom comprises approximately 0.4% of Greenleaf Trust's portfolio, making the stock its 21st largest holding. Greenleaf Trust's holdings in Broadcom were worth $43,423,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of AVGO. ROSS JOHNSON & Associates LLC increased its position in shares of Broadcom by 1,320.0% during the fourth quarter. ROSS JOHNSON & Associates LLC now owns 71 shares of the semiconductor manufacturer's stock worth $25,000 after purchasing an additional 66 shares in the last quarter. Networth Advisors LLC boosted its position in shares of Broadcom by 546.2% in the 1st quarter. Networth Advisors LLC now owns 84 shares of the semiconductor manufacturer's stock valued at $26,000 after purchasing an additional 71 shares during the period. SWAN Capital LLC boosted its position in shares of Broadcom by 261.9% in the 4th quarter. SWAN Capital LLC now owns 76 shares of the semiconductor manufacturer's stock valued at $26,000 after purchasing an additional 55 shares during the period. Nvest Wealth Strategies Inc. purchased a new position in Broadcom during the 4th quarter worth approximately $33,000. Finally, Family CFO Inc purchased a new position in Broadcom during the 4th quarter worth approximately $35,000. 76.43% of the stock is owned by hedge funds and other institutional investors.

Broadcom Price Performance

Broadcom stock opened at $393.05 on Monday. Broadcom Inc. has a 12 month low of $281.87 and a 12 month high of $495.00. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.24 and a quick ratio of 2.01. The business has a 50 day simple moving average of $389.79 and a 200-day simple moving average of $373.64. The stock has a market capitalization of $1.87 trillion, a PE ratio of 65.51, a price-to-earnings-growth ratio of 0.75 and a beta of 1.45.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its quarterly earnings data on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analysts' expectations of $22.13 billion. During the same period in the previous year, the company posted $1.58 EPS. Broadcom's revenue was up 47.9% compared to the same quarter last year. Equities analysts predict that Broadcom Inc. will post 10.24 earnings per share for the current year.

Broadcom Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 22nd were issued a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Monday, June 22nd. Broadcom's dividend payout ratio is currently 43.33%.

Insider Activity

In related news, insider Mark David Brazeal sold 25,000 shares of the firm's stock in a transaction dated Friday, July 10th. The shares were sold at an average price of $401.33, for a total value of $10,033,250.00. Following the completion of the sale, the insider owned 194,989 shares in the company, valued at $78,254,935.37. This trade represents a 11.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Harry L. You acquired 1,000 shares of the stock in a transaction on Thursday, June 11th. The stock was acquired at an average cost of $373.57 per share, for a total transaction of $373,570.00. Following the acquisition, the director directly owned 38,466 shares in the company, valued at $14,369,743.62. This represents a 2.67% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders sold 61,644 shares of company stock valued at $24,016,214. Company insiders own 1.90% of the company's stock.

Analyst Ratings Changes

AVGO has been the subject of a number of research reports. KeyCorp reiterated an "overweight" rating and issued a $575.00 price objective (up from $500.00) on shares of Broadcom in a research note on Thursday, June 4th. Bank of America raised their target price on shares of Broadcom from $450.00 to $530.00 and gave the stock a "buy" rating in a research report on Thursday, June 4th. DA Davidson lifted their target price on shares of Broadcom from $375.00 to $400.00 and gave the company a "neutral" rating in a report on Thursday, June 4th. JPMorgan Chase & Co. upped their price target on shares of Broadcom from $500.00 to $580.00 and gave the company an "overweight" rating in a research report on Thursday, June 4th. Finally, Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and set a $515.00 price target (up from $430.00) on shares of Broadcom in a research note on Thursday, June 4th. Twenty-eight investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $493.24.

More Broadcom News

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom’s custom-silicon and XPU opportunity remains a key long-term catalyst. Analysts and commentators point to accelerating AI infrastructure spending, major customer agreements, and potential growth in custom chips and networking. Broadcom: XPU Growth Trajectory Underestimated, Stock A Bargain
• Positive Sentiment: Wall Street’s average price target implies substantial upside from recent trading levels, supporting the bullish view that the market may be underestimating Broadcom’s AI growth trajectory. Broadcom is Down Over 3 Months: One Wall Street Pro Sees 60%+ Gains Ahead
• Positive Sentiment: Continued institutional interest, including purchases by GAMCO Investors and Cathie Wood’s reported investment, provides some additional support for the stock’s long-term AI investment case. Cathie Wood buys $16.2 million of Broadcom

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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