United Bank Boosts Holdings in Broadcom Inc. $AVGO

Key Points

• United Bank more than doubled its Broadcom stake in the first quarter, increasing holdings by 103.5% to 9,071 shares valued at about $2.81 million.
• Broadcom continues to draw strong institutional interest, with hedge funds and other investors making recent additions and 76.43% of the stock now held by institutions.
• The company reported solid quarterly results, including EPS of $2.44 versus $2.40 expected and revenue of $22.19 billion, while analysts maintain a Moderate Buy consensus and a $493.24 price target.

United Bank boosted its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 103.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 9,071 shares of the semiconductor manufacturer's stock after acquiring an additional 4,613 shares during the period. United Bank's holdings in Broadcom were worth $2,808,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AVGO. ROSS JOHNSON & Associates LLC raised its holdings in shares of Broadcom by 1,320.0% in the 4th quarter. ROSS JOHNSON & Associates LLC now owns 71 shares of the semiconductor manufacturer's stock worth $25,000 after purchasing an additional 66 shares during the period. Networth Advisors LLC lifted its stake in Broadcom by 546.2% in the first 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 last quarter. SWAN Capital LLC grew its holdings in Broadcom by 261.9% during the fourth 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. Miller Global Investments LLC bought a new position in Broadcom during the fourth quarter valued at $31,000. Finally, Nvest Wealth Strategies Inc. purchased a new stake in Broadcom in the fourth quarter worth $33,000. 76.43% of the stock is currently owned by hedge funds and other 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 that occurred on Wednesday, July 8th. The shares were 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Harry L. You bought 1,000 shares of the company's stock in a transaction on Thursday, June 11th. The shares were bought at an average price of $373.57 per share, with a total value of $373,570.00. Following the completion of the transaction, the director owned 38,466 shares of the company's stock, valued at $14,369,743.62. The trade was a 2.67% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last 90 days, insiders have sold 61,644 shares of company stock worth $24,016,214. Insiders own 1.90% of the company's stock.

Broadcom Trading Up 1.3%

Broadcom stock opened at $394.28 on Thursday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.01 and a current ratio of 2.24. Broadcom Inc. has a fifty-two week low of $273.00 and a fifty-two week high of $495.00. The stock has a market cap of $1.88 trillion, a P/E ratio of 65.71, a PEG ratio of 0.68 and a beta of 1.45. The firm's fifty day moving average price is $403.23 and its 200-day moving average price is $365.11.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted 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 return on equity of 41.61% and a net margin of 38.85%.The company had revenue of $22.19 billion during the quarter, compared to analyst estimates of $22.13 billion. During the same quarter last year, the company earned $1.58 earnings per share. The firm's quarterly revenue was up 47.9% on a year-over-year basis. Equities research analysts forecast that Broadcom Inc. will post 10.24 earnings per share for the current fiscal year.

Broadcom Announces Dividend

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

Analysts Set New Price Targets

Several brokerages have issued reports on AVGO. Citigroup restated a "buy" rating on shares of Broadcom in a research note on Thursday, June 4th. Seaport Research Partners reiterated a "neutral" rating on shares of Broadcom in a research note on Wednesday, April 8th. TD Cowen reissued a "buy" rating and issued a $500.00 price objective on shares of Broadcom in a report on Thursday, June 4th. DA Davidson boosted their price objective on Broadcom from $375.00 to $400.00 and gave the company a "neutral" rating in a research note on Thursday, June 4th. Finally, Evercore reaffirmed an "outperform" rating and set a $582.00 price objective on shares of Broadcom in a report on Tuesday, May 19th. One research analyst has rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $493.24.

Broadcom News Roundup

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom is being viewed as a major AI infrastructure winner, with recent coverage highlighting its accelerating AI revenue, record bookings, and strong customer partnerships. Snowflake vs. Broadcom: Which Enterprise AI Stock Is the Smarter Buy?
• Positive Sentiment: Wall Street commentary says Broadcom’s Apple agreement through 2031 is strategically positive and supports a durable revenue stream from custom chips and connectivity components. Why Broadcom (AVGO) Is Reinforcing Its Long-Term Growth With an Extended Apple Chip Partnership Through 2031
• Positive Sentiment: Analysts remain upbeat on Broadcom, with reports pointing to roughly 32.8% implied upside from the average price target and improving earnings estimate revisions. Wall Street Analysts See a 32.76% Upside in Broadcom Inc. (AVGO): Can the Stock Really Move This High?
• Positive Sentiment: Morgan Stanley called Broadcom a “core AI winner,” reinforcing the view that AVGO remains one of the main beneficiaries of AI spending. Broadcom is a 'core AI winner,' even as MediaTek encroaches, Morgan Stanley says
• Neutral Sentiment: Broadcom is also drawing heavy investor attention, which keeps the stock in focus but does not by itself change fundamentals. Broadcom Inc. (AVGO) Is a Trending Stock: Facts to Know Before Betting on It
• Negative Sentiment: Sentiment was tempered by reports that Broadcom executives sold shares, which can raise caution even though insider sales do not necessarily signal a business problem. Broadcom Executive Sells $10 Million in AVGO Stock. Is the Insider Sale a Warning Sign?
• Negative Sentiment: Reuters reported that five cloud business groups are urging EU regulators to suspend some Broadcom practices, adding a regulatory overhang to the name. Five cloud business groups urge EU interim measures against Broadcom

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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