Penobscot Investment Management Company Inc. Has $50.27 Million Stake in Broadcom Inc. $AVGO

Penobscot Investment Management Company Inc. lowered its position in Broadcom Inc. (NASDAQ:AVGO) by 1.9% during the 1st quarter, Holdings Channel reports. The firm owned 162,414 shares of the semiconductor manufacturer’s stock after selling 3,204 shares during the quarter. Broadcom comprises approximately 3.9% of Penobscot Investment Management Company Inc.’s investment portfolio, making the stock its 3rd largest holding. Penobscot Investment Management Company Inc.’s holdings in Broadcom were worth $50,269,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of AVGO. Brighton Jones LLC increased its stake in shares of Broadcom by 21.8% during the fourth quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer’s stock valued at $6,882,000 after buying an additional 5,322 shares during the period. Revolve Wealth Partners LLC grew its holdings in Broadcom by 10.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 7,997 shares of the semiconductor manufacturer’s stock worth $1,854,000 after acquiring an additional 756 shares in the last quarter. United Bank grew its holdings in Broadcom by 76.5% during the 1st quarter. United Bank now owns 2,339 shares of the semiconductor manufacturer’s stock worth $392,000 after acquiring an additional 1,014 shares in the last quarter. Sivia Capital Partners LLC increased its position in Broadcom by 10.1% during the 2nd quarter. Sivia Capital Partners LLC now owns 12,693 shares of the semiconductor manufacturer’s stock valued at $3,499,000 after purchasing an additional 1,160 shares during the period. Finally, Capital & Planning LLC raised its holdings in shares of Broadcom by 10.5% in the 2nd quarter. Capital & Planning LLC now owns 3,983 shares of the semiconductor manufacturer’s stock valued at $1,098,000 after purchasing an additional 378 shares in the last quarter. 76.43% of the stock is owned by institutional investors.

Broadcom News Roundup

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom’s expanded Apple agreement, valued at more than $30 billion through 2031, strengthens visibility for revenue and highlights demand beyond AI chips. Why Broadcom Stock Rose Today
• Positive Sentiment: Analysts remain upbeat on Broadcom’s AI business, with Jefferies reiterating a Buy rating and a $550 price target as AI chip momentum improves. Broadcom’s (AVGO) AI Chip Momentum Keeps Wall Street Bullish
• Positive Sentiment: Broadcom is being viewed as a broader AI infrastructure winner because its networking products help connect large-scale AI systems, expanding the investment thesis beyond GPUs and custom chips. Broadcom stock’s latest catalyst targets Nvidia where it looks strongest
• Neutral Sentiment: Some coverage notes Broadcom’s near-$2 trillion market value and strong AI revenue growth, but also suggests much of the good news may already be reflected in the stock. Broadcom Is Less Than 5% From the $2 Trillion Club — and Apple Just Committed $30 Billion for More Chips
• Negative Sentiment: Erste Group downgraded Broadcom to Hold, citing valuation concerns, which may be limiting upside after the recent rally. Erste Group downgrades Broadcom to Hold citing valuation concerns

Broadcom Stock Down 0.3%

AVGO stock traded down $1.14 on Friday, hitting $399.97. 14,579,242 shares of the company’s stock were exchanged, compared to its average volume of 26,802,910. The firm has a 50 day moving average price of $405.29 and a two-hundred day moving average price of $364.13. Broadcom Inc. has a 12-month low of $269.58 and a 12-month high of $495.00. The stock has a market cap of $1.90 trillion, a P/E ratio of 66.66, a price-to-earnings-growth ratio of 0.70 and a beta of 1.45. 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 (NASDAQ:AVGO) last released its quarterly earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 EPS for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $22.13 billion. During the same period last year, the business posted $1.58 earnings per share. The firm’s revenue was up 47.9% compared to the same quarter last year. As a group, equities research analysts expect that Broadcom Inc. will post 10.24 EPS for the current fiscal year.

Broadcom Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 22nd were paid a $0.65 dividend. The ex-dividend date 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 (DPR) is 43.33%.

Analyst Ratings Changes

A number of research firms have recently issued reports on AVGO. Mizuho increased their price objective on shares of Broadcom from $480.00 to $530.00 and gave the company an “outperform” rating in a research note on Thursday, June 4th. Erste Group Bank restated a “hold” rating on shares of Broadcom in a report on Tuesday, July 7th. UBS Group set a $485.00 target price on Broadcom and gave the company a “buy” rating in a research report on Thursday, June 4th. Benchmark lifted their price target on Broadcom from $485.00 to $545.00 and gave the company a “buy” rating in a report on Thursday, June 4th. Finally, Evercore restated an “outperform” rating and set a $582.00 price objective on shares of Broadcom in a research note on Tuesday, May 19th. One equities 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 stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $493.24.

Insider Activity at Broadcom

In other news, insider Mark David Brazeal sold 25,000 shares of Broadcom stock in a transaction on Wednesday, July 8th. The shares were sold at an average price of $379.19, for a total transaction of $9,479,750.00. Following the completion of the sale, the insider directly owned 219,989 shares in the company, valued at approximately $83,417,628.91. The trade was a 10.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Harry L. You acquired 1,000 shares of the company’s 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. The trade was a 2.67% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders sold a total of 36,644 shares of company stock worth $13,982,964 in the last quarter. 1.90% of the stock is currently owned by company insiders.

Broadcom 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.