Busey Bank Has $90.45 Million Holdings in Broadcom Inc. $AVGO

Busey Bank boosted its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 0.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 292,232 shares of the semiconductor manufacturer’s stock after acquiring an additional 1,485 shares during the period. Broadcom accounts for about 2.5% of Busey Bank’s holdings, making the stock its 8th biggest position. Busey Bank’s holdings in Broadcom were worth $90,449,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank purchased a new position in shares of Broadcom during the 4th quarter valued at $24,252,196,000. Cardano Risk Management B.V. increased its holdings in shares of Broadcom by 895.2% in the fourth quarter. Cardano Risk Management B.V. now owns 12,689,800 shares of the semiconductor manufacturer’s stock worth $4,391,940,000 after purchasing an additional 11,414,701 shares during the period. State Street Corp raised its position in shares of Broadcom by 2.7% in the fourth quarter. State Street Corp now owns 190,084,351 shares of the semiconductor manufacturer’s stock worth $65,788,194,000 after buying an additional 5,040,801 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its position in shares of Broadcom by 499.4% in the third quarter. Arrowstreet Capital Limited Partnership now owns 5,634,232 shares of the semiconductor manufacturer’s stock worth $1,858,789,000 after buying an additional 4,694,313 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in Broadcom by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 482,707,302 shares of the semiconductor manufacturer’s stock valued at $167,064,997,000 after buying an additional 3,919,715 shares during the period. Institutional investors own 76.43% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on AVGO. Rosenblatt Securities restated a “buy” rating and set a $500.00 target price on shares of Broadcom in a research report on Thursday, June 4th. Jefferies Financial Group set a $550.00 price target on Broadcom and gave the company a “buy” rating in a report on Thursday, June 4th. Seaport Research Partners reiterated a “neutral” rating on shares of Broadcom in a research report on Wednesday, April 8th. JPMorgan Chase & Co. lifted their price target on Broadcom from $500.00 to $580.00 and gave the company an “overweight” rating in a research report on Thursday, June 4th. Finally, DA Davidson boosted their price objective on Broadcom from $375.00 to $400.00 and gave the stock a “neutral” rating in a report on Thursday, June 4th. 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 company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $493.24.

More Broadcom News

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Apple’s multiyear agreement to buy more than $30 billion of Broadcom chips through 2031 reinforces demand for Broadcom’s custom silicon and U.S. manufacturing strategy. Reuters: Apple to spend $30 billion in Broadcom chips deal that will see Colorado factory expand
• Positive Sentiment: Wall Street remains upbeat on Broadcom’s AI chip momentum, with Jefferies reiterating a Buy rating and a $550 price target on improving AI-related growth prospects. Broadcom’s (AVGO) AI Chip Momentum Keeps Wall Street Bullish
• Positive Sentiment: Broader semiconductor sentiment improved as the AI trade rebounded, with analysts and market commentators viewing the recent selloff as a buying opportunity for chip stocks like Broadcom. Broadcom, Intel, Corning, Marvell, and More Stocks That Explain Today’s Market
• Neutral Sentiment: Zacks highlighted Broadcom as a dividend-paying AI infrastructure name, underscoring its mix of income and AI exposure, but this was more of a stock-picking view than a new company-specific catalyst. These Dividend Paying Stocks Offer Strong Exposure to AI Trends
• Negative Sentiment: Erste Group downgraded Broadcom to Hold, citing valuation concerns, which may temper some of the enthusiasm after the recent rally. Erste Group downgrades Broadcom to Hold citing valuation concerns

Insiders Place Their Bets

In other news, Director Harry L. You bought 1,000 shares of the business’s stock in a transaction on 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 purchase, the director directly owned 38,466 shares in the company, valued at $14,369,743.62. This represents a 2.67% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Mark David Brazeal sold 4,825 shares of the stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $394.91, for a total transaction of $1,905,440.75. Following the transaction, the insider owned 269,989 shares in the company, valued at $106,621,355.99. The trade was a 1.76% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 9,754 shares of company stock valued at $3,774,846 over the last quarter. 1.90% of the stock is owned by corporate insiders.

Broadcom Trading Up 3.2%

NASDAQ AVGO opened at $401.11 on Friday. The company has a quick ratio of 2.01, a current ratio of 2.24 and a debt-to-equity ratio of 0.71. The stock’s 50-day simple moving average is $405.40 and its two-hundred day simple moving average is $363.87. Broadcom Inc. has a twelve month low of $269.58 and a twelve month high of $495.00. The company has a market capitalization of $1.91 trillion, a price-to-earnings ratio of 66.85, a PEG ratio of 0.68 and a beta of 1.45.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.40 by $0.04. The firm had revenue of $22.19 billion during the quarter, compared to analysts’ expectations of $22.13 billion. Broadcom had a return on equity of 41.61% and a net margin of 38.85%.The company’s revenue for the quarter was up 47.9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.58 EPS. Research analysts forecast that Broadcom Inc. will post 10.24 EPS for the current fiscal year.

Broadcom Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors 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 dividend on an annualized basis and a yield of 0.6%. Broadcom’s payout ratio is presently 43.33%.

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.