Parkside Financial Bank & Trust Purchases 3,224 Shares of Broadcom Inc. $AVGO

Key Points

• Parkside Financial Bank & Trust increased its Broadcom stake by 13.2% in the second quarter, purchasing 3,224 shares to hold 27,586 shares worth approximately $10 million. Institutional investors collectively own 76.43% of Broadcom.
• Broadcom reported quarterly EPS of $3.32, beating estimates of $3.22, while revenue reached $29.59 billion, up 85.5% year over year and above consensus expectations.
• The company declared a quarterly dividend of $0.65 per share, equivalent to a $2.60 annualized payout and a 0.8% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $509.04.

Parkside Financial Bank & Trust lifted its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 13.2% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 27,586 shares of the semiconductor manufacturer's stock after purchasing an additional 3,224 shares during the quarter. Broadcom comprises 0.7% of Parkside Financial Bank & Trust's investment portfolio, making the stock its 27th biggest holding. Parkside Financial Bank & Trust's holdings in Broadcom were worth $10,016,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its holdings in shares of Broadcom by 1.4% during the 4th 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 in the last quarter. Norges Bank bought a new position in shares of Broadcom in the 4th quarter worth about $24,252,196,000. Bank of America Corp DE increased its stake 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 worth $23,202,543,000 after acquiring an additional 2,685,916 shares in the last quarter. Wellington Management Group LLP lifted its position in Broadcom by 3.8% during the 2nd quarter. Wellington Management Group LLP now owns 51,580,703 shares of the semiconductor manufacturer's stock valued at $19,484,611,000 after acquiring an additional 1,892,721 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Broadcom by 2.9% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 40,180,530 shares of the semiconductor manufacturer's stock valued at $15,178,195,000 after acquiring an additional 1,140,598 shares during the period. 76.43% of the stock is owned by hedge funds and other institutional investors.

Broadcom Stock Up 0.1%

Shares of AVGO stock opened at $339.51 on Thursday. The company has a current ratio of 2.50, a quick ratio of 2.29 and a debt-to-equity ratio of 0.57. Broadcom Inc. has a 12 month low of $289.96 and a 12 month high of $495.00. The stock has a market cap of $1.62 trillion, a P/E ratio of 43.36 and a beta of 1.44. The company has a 50 day simple moving average of $380.83 and a two-hundred day simple moving average of $378.97.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $29.59 billion during the quarter, compared to the consensus estimate of $29.24 billion. Broadcom had a net margin of 42.94% and a return on equity of 48.33%. The company's revenue for the quarter was up 85.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.69 EPS. On average, research analysts expect that Broadcom Inc. will post 10.36 earnings per share for the current year.

Broadcom Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Monday, September 21st will be given a dividend of $0.65 per share. The ex-dividend date is Monday, September 21st. This represents a $2.60 annualized dividend and a yield of 0.8%. Broadcom's payout ratio is 33.21%.

Insider Buying and Selling at Broadcom

In other news, 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 transaction of $10,033,250.00. Following the transaction, the insider directly owned 194,989 shares of the company's stock, valued at $78,254,935.37. The trade was a 11.36% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Justine Page sold 1,602 shares of the business's stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $373.86, for a total value of $598,923.72. Following the transaction, the director owned 17,426 shares of the company's stock, valued at approximately $6,514,884.36. This trade represents a 8.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 53,492 shares of company stock valued at $20,840,292. Company insiders own 1.90% of the company's stock.

Trending Headlines about Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: CEO Hock Tan said Broadcom’s AI revenue targets have not changed despite calls from Anthropic and OpenAI executives to slow development of increasingly powerful models. The comments helped reinforce management’s confidence in sustained demand. Broadcom CEO delivers blunt verdict on AI’s biggest debate right now
• Positive Sentiment: Analysts and bullish commentators point to Broadcom’s 221% year-over-year AI revenue growth, strong guidance and potential for significant upside following the recent selloff. Several reports argue that the stock’s valuation is attractive relative to its growth and custom-chip competitors. Wall Street Sees 56% Upside in Broadcom After Summer Selloff
• Positive Sentiment: Broadcom’s reported supply constraint may be more significant than demand weakness. Piper Sandler estimated that demand for the company’s AI inference ASICs is roughly twice available supply and assigned an Overweight rating with a $460 price target. Broadcom’s Real Constraint Isn’t Demand. It’s Supply.
• Positive Sentiment: Recent coverage also cites new fourth-quarter revenue guidance, share-repurchase activity and continued dividend support as potential catalysts for shareholder returns. Broadcom Could Be 47% Below Fair Value
• Neutral Sentiment: Commentary remains divided: Broadcom’s earnings growth and AI exposure are viewed favorably, while valuation, macroeconomic conditions and customer concentration remain important risks for investors. Bull v. Bear: AVGO Shows Strong Earnings Growth, Macro Risks Weigh on Stock
• Negative Sentiment: Shares declined as Anthropic’s CEO called for a pause in rapidly scaling AI systems and OpenAI’s leadership expressed similar caution. Investors reassessed whether slower AI model development could reduce future orders for chips, networking equipment and custom accelerators. Broadcom Shares Fell As Slower AI Development Raised Demand Concerns
• Negative Sentiment: Bearish analysis highlights potential margin pressure, financing needs and regulatory concerns related to VMware, adding uncertainty despite Broadcom’s strong AI outlook. Broadcom’s strong AI growth faces margin, financing risks

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on AVGO shares. Deutsche Bank Aktiengesellschaft restated a "buy" rating and issued a $515.00 price objective (up from $430.00) on shares of Broadcom in a report on Thursday, June 4th. KeyCorp reiterated an "overweight" rating and set a $575.00 target price on shares of Broadcom in a report on Thursday, September 3rd. Morgan Stanley restated an "overweight" rating and issued a $505.00 price target (up from $502.00) on shares of Broadcom in a research note on Thursday, September 3rd. Zacks Research lowered Broadcom from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 21st. Finally, DA Davidson set a $350.00 price objective on Broadcom and gave the company a "neutral" rating in a research note on Friday, September 4th. One research analyst has rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $509.04.

About Broadcom

Broadcom Inc NASDAQ: AVGO designs, develops and supplies semiconductor and infrastructure software products for businesses, telecommunications providers and other organizations worldwide. Its semiconductor portfolio includes networking and connectivity components, custom application-specific integrated circuits, broadband and wireless communications products, storage adapters, optical components, and industrial solutions.

The company also provides enterprise infrastructure software through businesses including VMware, which offers virtualization and private- and hybrid-cloud solutions; mainframe and enterprise software; and cybersecurity products.

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