Plimoth Trust Co. LLC Buys 1,945 Shares of Broadcom Inc. $AVGO

Key Points

• Plimoth Trust Co. LLC increased its Broadcom stake by 10.7% in Q1, buying 1,945 additional shares and bringing its total holdings to 20,142 shares worth about $6.23 million.
• Broadcom reported strong quarterly results, with EPS of $2.44 beating estimates and revenue of $22.19 billion topping forecasts, while revenue jumped 47.9% year over year.
• Analysts remain broadly bullish on AVGO despite recent semiconductor-sector weakness, with multiple firms raising price targets and the consensus rating staying at “Moderate Buy.”

Plimoth Trust Co. LLC grew its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 10.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,142 shares of the semiconductor manufacturer's stock after acquiring an additional 1,945 shares during the period. Broadcom accounts for about 1.4% of Plimoth Trust Co. LLC's investment portfolio, making the stock its 16th biggest position. Plimoth Trust Co. LLC's holdings in Broadcom were worth $6,234,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of AVGO. Vanguard Group Inc. raised its position 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 during the last quarter. State Street Corp boosted its position in Broadcom by 2.7% in the 4th quarter. State Street Corp now owns 190,084,351 shares of the semiconductor manufacturer's stock valued at $65,788,194,000 after buying an additional 5,040,801 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Broadcom by 1.4% in 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 during the period. Price T Rowe Associates Inc. MD increased its stake in shares of Broadcom by 3.0% in the 4th 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 period. Finally, Norges Bank bought a new stake in shares of Broadcom during the fourth quarter worth $24,252,196,000. 76.43% of the stock is currently owned by institutional investors and hedge funds.

More Broadcom News

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom extended its chip and wireless component partnership with Apple through 2031, including custom ASIC silicon for Apple’s AI server chips. Investors view the deal as a major win because it locks in a durable revenue stream and improves visibility into Broadcom’s future cash flow. Apple and Broadcom Forge a Decade-Long Silicon Fortress
• Positive Sentiment: Several analysts and commentators reiterated a bullish view on Broadcom, arguing the Apple extension strengthens its “AI infrastructure” story and makes the stock look more attractive after the recent pullback. Bull v. Bear: AVGO New Value as Sell-Off Steepens
• Neutral Sentiment: Broadcom also benefited from a broader rebound in chip names, with investors reacting to renewed enthusiasm for AI and semiconductor spending, even as some of that move looked tied to sector rotation rather than company-specific news. Allegro MicroSystems and Penguin Solutions Shares Skyrocket, What You Need To Know
• Neutral Sentiment: A recent hold rating reaffirmation from Erste Group Bank did not materially change the story, but it may temper near-term upside if investors were expecting a fresh bullish catalyst. Benzinga report on Erste Group Bank reaffirmation
• Negative Sentiment: Broader semiconductor weakness and a global tech sell-off, tied in part to a margin/liquidity shock in Asia, have weighed on AVGO and other chip stocks despite no clear deterioration in fundamentals. The AI Chip Sell-Off Looks Scary, But the Real Story May Be Liquidity
• Negative Sentiment: AVGO remains well below its recent highs and is being described as in a bear market, reflecting ongoing valuation pressure and investor caution after the sector pullback. Bull v. Bear: AVGO New Value as Sell-Off Steepens

Insider Activity at Broadcom

In other Broadcom news, Director Harry L. You acquired 1,000 shares of the stock in a transaction dated Thursday, June 11th. The shares were bought at an average cost of $373.57 per share, for a total transaction of $373,570.00. Following the completion of the acquisition, the director directly owned 38,466 shares of the company's stock, valued at approximately $14,369,743.62. This trade represents a 2.67% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider S. Ram Velaga sold 17,260 shares of the stock in a transaction on Thursday, April 9th. The stock was sold at an average price of $352.12, for a total transaction of $6,077,591.20. Following the transaction, the insider owned 65,932 shares of the company's stock, valued at $23,215,975.84. The trade was a 20.75% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 36,014 shares of company stock worth $13,174,907. 1.90% of the stock is currently owned by corporate insiders.

Broadcom Stock Down 0.8%

Broadcom stock opened at $370.78 on Wednesday. The firm has a market capitalization of $1.76 trillion, a price-to-earnings ratio of 61.80, a PEG ratio of 0.66 and a beta of 1.45. The company's 50 day simple moving average is $405.96 and its 200 day simple moving average is $363.03. 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 fifty-two week low of $269.58 and a fifty-two week high of $495.00.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its quarterly earnings data on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 EPS for the quarter, topping the consensus estimate of $2.40 by $0.04. The business had revenue of $22.19 billion for the quarter, compared to the consensus estimate of $22.13 billion. Broadcom had a return on equity of 41.61% and a net margin of 38.85%.The firm's revenue was up 47.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.58 EPS. As a group, sell-side analysts anticipate that Broadcom Inc. will post 10.24 EPS for the current year.

Broadcom Announces Dividend

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

Analyst Ratings Changes

AVGO has been the topic of several research reports. Wells Fargo & Company reaffirmed an "overweight" rating and set a $545.00 price target (up from $430.00) on shares of Broadcom in a research note on Thursday, May 14th. Jefferies Financial Group set a $550.00 price objective on Broadcom and gave the stock a "buy" rating in a report on Thursday, June 4th. Rosenblatt Securities restated a "buy" rating and set a $500.00 target price on shares of Broadcom in a research report on Thursday, June 4th. Benchmark raised their target price on shares of Broadcom from $485.00 to $545.00 and gave the company a "buy" rating in a research note on Thursday, June 4th. Finally, Weiss Ratings downgraded shares of Broadcom from a "buy (b)" rating to a "buy (b-)" rating in a research note on Friday, June 26th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $493.24.

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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