Midwest Trust Co Purchases 5,196 Shares of Broadcom Inc. $AVGO

Midwest Trust Co lifted its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 1.0% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 534,724 shares of the semiconductor manufacturer’s stock after purchasing an additional 5,196 shares during the quarter. Broadcom comprises approximately 2.1% of Midwest Trust Co’s holdings, making the stock its 7th largest holding. Midwest Trust Co’s holdings in Broadcom were worth $165,502,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of AVGO. ROSS JOHNSON & Associates LLC grew its stake in Broadcom by 1,320.0% during the fourth quarter. ROSS JOHNSON & Associates LLC now owns 71 shares of the semiconductor manufacturer’s stock worth $25,000 after buying an additional 66 shares during the period. Networth Advisors LLC lifted its holdings in shares of Broadcom by 546.2% during the 1st quarter. Networth Advisors LLC now owns 84 shares of the semiconductor manufacturer’s stock valued at $26,000 after acquiring an additional 71 shares in the last quarter. SWAN Capital LLC boosted its position in Broadcom by 261.9% during the 4th quarter. SWAN Capital LLC now owns 76 shares of the semiconductor manufacturer’s stock worth $26,000 after purchasing an additional 55 shares during the period. Miller Global Investments LLC acquired a new stake in Broadcom in the 4th quarter valued at $31,000. Finally, Nvest Wealth Strategies Inc. purchased a new position in Broadcom in the fourth quarter valued at about $33,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Analyst Upgrades and Downgrades

AVGO has been the subject of a number of recent research reports. Oppenheimer reiterated an “outperform” rating and issued a $535.00 target price (up from $450.00) on shares of Broadcom in a research note on Thursday, June 4th. Dbs Bank upgraded Broadcom to a “moderate buy” rating in a report on Thursday, June 18th. Evercore reiterated an “outperform” rating and set a $582.00 price objective on shares of Broadcom in a research note on Tuesday, May 19th. Weiss Ratings cut shares of Broadcom from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, June 26th. Finally, The Goldman Sachs Group restated a “buy” rating and issued a $525.00 target price on shares of Broadcom in a research note on Thursday, June 4th. One analyst has rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $493.24.

Trending Headlines about Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Evercore ISI said Broadcom’s multiyear agreement with Apple is strategically positive, as it strengthens Apple’s AI compute silicon efforts and extends Broadcom’s role as a key custom-chip partner. Broadcom Inc. (AVGO) Agreement a Strategic Positive for Apple, says Evercore ISI
• Positive Sentiment: Reports say Broadcom secured its role as a key Apple supplier through 2031, giving investors more confidence in a long-duration revenue stream. Broadcom Inc. (AVGO) Secures Role as Key Apple Supplier with Chip Deal through 2031
• Positive Sentiment: Morgan Stanley described Broadcom as a “core AI winner,” keeping the stock in focus as one of the main beneficiaries of AI infrastructure spending. Broadcom is a ‘core AI winner,’ even as MediaTek encroaches, Morgan Stanley says
• Neutral Sentiment: Additional commentary highlighted Broadcom as a major AI stock and a possible outperformer versus other chip names, which adds to the bullish narrative but does not change the near-term business outlook directly. Is Broadcom Inc. (AVGO) a Buy as Wall Street Analysts Look Optimistic?
• Negative Sentiment: There was also an insider-selling headline, which can weigh on sentiment even if it does not necessarily reflect a change in the company’s fundamentals. Insider Selling: Broadcom (NASDAQ:AVGO) Insider Sells $9,479,750.00 in Stock

Broadcom Price Performance

Shares of AVGO stock opened at $389.11 on Wednesday. The firm has a fifty day moving average of $403.86 and a two-hundred day moving average of $364.80. The firm has a market cap of $1.85 trillion, a P/E ratio of 64.85, a P/E/G ratio of 0.67 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 debt-to-equity ratio of 0.71, a current ratio of 2.24 and a quick ratio of 2.01.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results 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 analysts’ expectations of $22.13 billion. Broadcom had a net margin of 38.85% and a return on equity of 41.61%. The company’s quarterly revenue was up 47.9% compared to the same quarter last year. During the same quarter last year, the company posted $1.58 earnings per share. As a group, research analysts anticipate that Broadcom Inc. will post 10.24 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

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

Insider Transactions at Broadcom

In other news, Director Gayla J. Delly sold 1,890 shares of the firm’s stock in a transaction dated Wednesday, July 8th. The shares were sold at an average price of $385.38, for a total value of $728,368.20. Following the transaction, the director directly owned 31,326 shares in the company, valued at approximately $12,072,413.88. This trade represents a 5.69% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Mark David Brazeal sold 25,000 shares of the business’s stock in a transaction dated Friday, July 10th. The shares were sold at an average price of $401.33, for a total transaction of $10,033,250.00. Following the sale, the insider directly owned 194,989 shares of the company’s stock, valued at approximately $78,254,935.37. This represents a 11.36% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 61,644 shares of company stock valued at $24,016,214 over the last 90 days. Insiders own 1.90% of the company’s stock.

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.