Broadcom Inc. $AVGO Stock Holdings Increased by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund grew its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 14.0% in the first quarter, according to its most recent filing with the SEC. The fund owned 302,013 shares of the semiconductor manufacturer’s stock after acquiring an additional 37,056 shares during the quarter. Broadcom comprises approximately 1.2% of Illinois Municipal Retirement Fund’s holdings, making the stock its 8th largest holding. Illinois Municipal Retirement Fund’s holdings in Broadcom were worth $93,476,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. ROSS JOHNSON & Associates LLC raised its position 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 in the last quarter. Networth Advisors LLC lifted its stake in shares of Broadcom by 546.2% during the 1st quarter. Networth Advisors LLC now owns 84 shares of the semiconductor manufacturer’s stock worth $26,000 after acquiring an additional 71 shares during the last quarter. SWAN Capital LLC boosted its stake in shares of 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 purchased a new stake in Broadcom in the 4th quarter valued at about $31,000. Finally, Nvest Wealth Strategies Inc. purchased a new stake in shares of Broadcom in the fourth quarter valued at approximately $33,000. 76.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on AVGO. Bank of America upped their price objective on shares of Broadcom from $450.00 to $530.00 and gave the stock a “buy” rating in a research note on Thursday, June 4th. Wall Street Zen cut Broadcom from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $515.00 target price (up from $430.00) on shares of Broadcom in a research note on Thursday, June 4th. Jefferies Financial Group set a $550.00 price target on Broadcom and gave the company a “buy” rating in a research note on Thursday, June 4th. Finally, Truist Financial upped their price objective on shares of Broadcom from $545.00 to $550.00 and gave the company a “buy” rating in a report on Thursday, June 4th. One research 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 company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $493.24.

Key Headlines Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Standard Chartered chose Broadcom to support a long-term modernization of its global banking infrastructure, underscoring Broadcom’s role in secure private-cloud and enterprise networking solutions. Standard Chartered Selects Broadcom to Deliver Secure, Always-On Banking Services at Global Scale
• Positive Sentiment: Wall Street commentary continues to describe Broadcom as a core AI beneficiary, and some analysts have raised price targets even after the stock pullback. As Shares Fall, Analyst Are Boosting Their Broadcom Price Targets
• Neutral Sentiment: Broadcom remains a major talking point in AI-focused market coverage, with some investors viewing it as an indicator for the broader market and semiconductor cycle. Jim Cramer Says Broadcom Will Tell You When the Market Is About to Turn
• Negative Sentiment: Broadcom is facing renewed skepticism around valuation, with one report asking whether the AI story has made the stock too expensive. Has Broadcom Become Too Expensive for Its AI Story?
• Negative Sentiment: The stock is also being hit by a broader selloff in semiconductor names as investors rotate away from AI-capex winners and worry about a slowdown in chip spending. Marvell Drops 8% as AI Capex Slowdown Fears Weigh on Chips; Broadcom, AMD, and Intel Slide
• Negative Sentiment: Broadcom is also dealing with regulatory uncertainty after reports said it faces an EU antitrust review tied to VMware licensing changes. Broadcom (AVGO) Faces EU Antitrust Review Over VMware Licensing Changes

Insider Buying and Selling at Broadcom

In other Broadcom news, Director Harry L. You bought 1,000 shares of the company’s stock in a transaction dated Thursday, June 11th. The stock was acquired at an average price of $373.57 per share, with a total value of $373,570.00. Following the completion of the acquisition, the director directly owned 38,466 shares of the company’s stock, valued at $14,369,743.62. This represents a 2.67% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Mark David Brazeal sold 25,000 shares of the firm’s stock in a transaction dated 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 approximately $78,254,935.37. This represents a 11.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 61,644 shares of company stock worth $24,016,214 over the last three months. 1.90% of the stock is owned by corporate insiders.

Broadcom Stock Down 1.0%

Shares of AVGO opened at $370.83 on Friday. The stock’s 50 day moving average is $401.29 and its two-hundred day moving average is $365.31. Broadcom Inc. has a 12 month low of $273.00 and a 12 month high of $495.00. The firm has a market cap of $1.76 trillion, a P/E ratio of 61.81, a PEG ratio of 0.65 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 (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 company had revenue of $22.19 billion during the quarter, compared to analyst estimates of $22.13 billion. Broadcom had a net margin of 38.85% and a return on equity of 41.61%. The firm’s revenue was up 47.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.58 EPS. Analysts predict that Broadcom Inc. will post 10.24 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

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

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.