Thomasville National Bank Takes Position in Broadcom Inc. $AVGO

Key Points

• Thomasville National Bank bought 6,748 Broadcom shares in the second quarter, valued at approximately $2.55 million. Institutional investors collectively own 76.43% of the company.
• Analysts maintain a favorable outlook, with 28 Buy ratings and four Holds producing a “Moderate Buy” consensus and an average price target of $493.24.
• Broadcom reported quarterly revenue of $22.19 billion, up 47.9% year over year, and topped earnings estimates; however, its elevated valuation and rising competition in custom AI silicon remain key risks.

Thomasville National Bank bought a new position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 6,748 shares of the semiconductor manufacturer's stock, valued at approximately $2,549,000.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of Broadcom by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 482,707,302 shares of the semiconductor manufacturer's stock valued at $167,064,997,000 after purchasing an additional 3,919,715 shares during the last quarter. State Street Corp boosted its stake 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 purchasing an additional 5,040,801 shares during the period. Geode Capital Management LLC increased its position in Broadcom by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 111,277,280 shares of the semiconductor manufacturer's stock worth $38,396,634,000 after buying an additional 1,548,699 shares during the period. Price T Rowe Associates Inc. MD increased its position in Broadcom by 3.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 85,546,083 shares of the semiconductor manufacturer's stock worth $29,607,500,000 after buying an additional 2,491,644 shares during the period. Finally, Norges Bank acquired a new stake in shares of Broadcom during the fourth quarter worth $24,252,196,000. 76.43% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director Gayla J. Delly sold 1,890 shares of the firm's stock in a transaction dated Wednesday, July 8th. The stock was sold at an average price of $385.38, for a total value of $728,368.20. Following the sale, the director directly owned 31,326 shares of the company's stock, valued at $12,072,413.88. This trade represents a 5.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Harry L. You bought 1,000 shares of the stock in a transaction on Thursday, June 11th. The shares were acquired at an average cost of $373.57 per share, with a total value of $373,570.00. Following the purchase, the director owned 38,466 shares of the company's stock, valued at approximately $14,369,743.62. This represents a 2.67% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have sold 61,644 shares of company stock valued at $24,016,214 in the last quarter. Corporate insiders own 1.90% of the company's stock.

Wall Street Analyst Weigh In

AVGO has been the topic of a number of recent research reports. KeyCorp reaffirmed an "overweight" rating and set a $575.00 price target (up from $500.00) on shares of Broadcom in a research report on Thursday, June 4th. Royal Bank Of Canada increased their target price on shares of Broadcom from $360.00 to $400.00 and gave the stock a "sector perform" rating in a research report on Thursday, June 4th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and issued a $515.00 price target (up from $430.00) on shares of Broadcom in a research report on Thursday, June 4th. DA Davidson increased their price target on Broadcom from $375.00 to $400.00 and gave the stock a "neutral" rating in a research report on Thursday, June 4th. Finally, Jefferies Financial Group set a $550.00 price objective on Broadcom and gave the company a "buy" rating in a report on Thursday, June 4th. Twenty-eight research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $493.24.

Broadcom Stock Performance

NASDAQ AVGO opened at $417.82 on Friday. The firm's 50 day simple moving average is $389.65 and its 200 day simple moving average is $373.16. The firm has a market capitalization of $1.99 trillion, a price-to-earnings ratio of 69.64, a P/E/G ratio of 0.79 and a beta of 1.45. The company has a current ratio of 2.24, a quick ratio of 2.01 and a debt-to-equity ratio of 0.71. Broadcom Inc. has a 1 year low of $281.87 and a 1 year high of $495.00.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its quarterly earnings data on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 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 business had revenue of $22.19 billion during the quarter, compared to the consensus estimate of $22.13 billion. The company's revenue was up 47.9% on a year-over-year basis. During the same period in the previous year, the business earned $1.58 earnings per share. As a group, research analysts expect that Broadcom Inc. will post 10.24 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 22nd were given a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 0.6%. The ex-dividend date was Monday, June 22nd. Broadcom's dividend payout ratio is currently 43.33%.

Broadcom News Summary

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom and NVIDIA’s efforts to raise debt and private capital to fund AI infrastructure underscore the scale of expected demand for computing capacity, potentially supporting Broadcom’s custom-chip and networking businesses. Nvidia and Broadcom Deepen AI Financing Push — But Wolfe Sees Long-Term Risks
• Positive Sentiment: Recent earnings commentary highlights optics and high-speed networking as increasingly important parts of the AI buildout, areas where Broadcom is positioned to benefit from hyperscale customer spending. Lumentum and Broadcom: Both Have Seen the Light in AI But How Should Investors Play Them?
• Positive Sentiment: Analysts and investors continue to focus on surging AI-networking demand, Broadcom’s accelerator programs and its ability to benefit regardless of which AI chip architecture ultimately becomes dominant. Is Broadcom in Focus as AI Networking Demand Surges?
• Positive Sentiment: Institutional buying provided an additional confidence signal: GAMCO Investors added 6,223 shares, while Bowie Capital previously increased its position by 112,599 shares. Cathie Wood also reportedly purchased approximately $16.2 million of AVGO. GAMCO Investors Boosts Broadcom Stake
• Neutral Sentiment: Broadcom remains a major beneficiary of the broader AI investment theme, with investors increasingly seeking exposure to the ecosystem and supply chain rather than concentrating only in individual chip stocks. The Future of AI Investing: Harbor Debuts 5 New Ecosystem ETFs
• Negative Sentiment: Valuation remains a key concern. Broadcom has delivered roughly an 8.7-fold five-year return, while current earnings multiples are viewed as expensive and a discounted-cash-flow estimate is near the market value, leaving less room for execution disappointments. Broadcom Stock Trades Near Fair Value but at a Premium on Earnings
• Negative Sentiment: Wolfe Research sees longer-term risks from intensifying competition in custom AI silicon, while other market observers warn that semiconductor flows and enthusiasm could be approaching a cyclical peak. Semiconductor Flows Stay Sticky Despite Cycle-Peak Warning

Broadcom Company 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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