Broadcom Inc. $AVGO Holdings Decreased by Citizens Business Bank

Citizens Business Bank cut its holdings in shares of Broadcom Inc. (NASDAQ:AVGO) by 2.6% in the first quarter, HoldingsChannel reports. The fund owned 62,996 shares of the semiconductor manufacturer’s stock after selling 1,669 shares during the quarter. Broadcom accounts for 3.2% of Citizens Business Bank’s portfolio, making the stock its 4th biggest holding. Citizens Business Bank’s holdings in Broadcom were worth $19,498,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in AVGO. ROSS JOHNSON & Associates LLC lifted its holdings in shares of Broadcom by 1,320.0% during the 4th quarter. ROSS JOHNSON & Associates LLC now owns 71 shares of the semiconductor manufacturer’s stock valued at $25,000 after buying an additional 66 shares during the last quarter. SWAN Capital LLC raised its position 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 acquiring an additional 55 shares in the last quarter. 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 acquiring an additional 71 shares during the last quarter. Miller Global Investments LLC acquired a new stake in Broadcom in the fourth quarter valued at approximately $31,000. Finally, Nvest Wealth Strategies Inc. bought a new stake in Broadcom in the fourth quarter worth approximately $33,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom Stock Performance

NASDAQ:AVGO opened at $394.28 on Thursday. The firm has a market capitalization of $1.88 trillion, a PE ratio of 65.71, a PEG ratio of 0.68 and a beta of 1.45. Broadcom Inc. has a 1 year low of $273.00 and a 1 year high of $495.00. The company has a current ratio of 2.24, a quick ratio of 2.01 and a debt-to-equity ratio of 0.71. The firm’s fifty day simple moving average is $403.23 and its 200 day simple moving average is $365.11.

Broadcom (NASDAQ:AVGO) last released its earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share for the quarter, topping analysts’ consensus estimates of $2.40 by $0.04. Broadcom had a net margin of 38.85% and a return on equity of 41.61%. The firm had revenue of $22.19 billion during the quarter, compared to analyst estimates of $22.13 billion. During the same quarter in the previous year, the business earned $1.58 EPS. The business’s revenue was up 47.9% on a year-over-year basis. On average, sell-side analysts anticipate that Broadcom Inc. will post 10.24 EPS for the current 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 0.7%. The ex-dividend date of this dividend was Monday, June 22nd. Broadcom’s payout ratio is currently 43.33%.

Insiders Place Their Bets

In other news, insider Mark David Brazeal sold 25,000 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the insider directly owned 194,989 shares in the company, valued at $78,254,935.37. The trade was a 11.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Justine Page sold 1,602 shares of the 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 completion of the sale, the director directly owned 17,426 shares of the company’s stock, valued at $6,514,884.36. This represents a 8.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 61,644 shares of company stock worth $24,016,214 in the last 90 days. 1.90% of the stock is owned by company insiders.

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

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on AVGO. TD Cowen restated a “buy” rating and set a $500.00 price target on shares of Broadcom in a report on Thursday, June 4th. Zacks Research cut shares of Broadcom from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 21st. Benchmark increased their target price on shares of Broadcom from $485.00 to $545.00 and gave the stock a “buy” rating in a research report on Thursday, June 4th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $515.00 target price (up from $430.00) on shares of Broadcom in a report on Thursday, June 4th. Finally, Citigroup reaffirmed a “buy” rating on shares of Broadcom in a research report on Thursday, June 4th. One investment analyst has rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average 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.