Broadcom Inc. $AVGO is Midwest Trust Co’s 7th Largest Position

Midwest Trust Co raised its position in Broadcom Inc. (NASDAQ:AVGO) by 1.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 534,724 shares of the semiconductor manufacturer’s stock after purchasing an additional 5,196 shares during the quarter. Broadcom accounts for approximately 2.1% of Midwest Trust Co’s portfolio, making the stock its 7th largest position. Midwest Trust Co’s holdings in Broadcom were worth $165,502,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of AVGO. Norges Bank purchased a new position in Broadcom during the 4th quarter valued at about $24,252,196,000. Cardano Risk Management B.V. grew 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 valued at $4,391,940,000 after purchasing an additional 11,414,701 shares in the last quarter. State Street Corp increased its stake in Broadcom by 2.7% during the 4th 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 during the period. Vanguard Group Inc. boosted its position in Broadcom by 0.8% in the 4th 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. Finally, Nordea Investment Management AB grew its stake in shares of Broadcom by 47.5% in the fourth quarter. Nordea Investment Management AB now owns 9,814,757 shares of the semiconductor manufacturer’s stock worth $3,406,211,000 after acquiring an additional 3,160,586 shares in the last quarter. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

AVGO has been the topic of several recent research reports. Evercore restated an “outperform” rating and set a $582.00 price target on shares of Broadcom in a report on Tuesday, May 19th. Wall Street Zen raised shares of Broadcom from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, July 1st. KeyCorp reaffirmed an “overweight” rating and set a $575.00 price target (up from $500.00) on shares of Broadcom in a report on Thursday, June 4th. Mizuho upped their price target on Broadcom from $480.00 to $530.00 and gave the company an “outperform” rating in a report on Thursday, June 4th. Finally, Dbs Bank raised shares of Broadcom to a “moderate buy” rating in a research report on Thursday, June 18th. 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 has an average rating of “Moderate Buy” and an average target price of $493.24.

Broadcom Stock Performance

NASDAQ AVGO opened at $389.11 on Wednesday. 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 52-week low of $273.00 and a 52-week high of $495.00. The business’s 50-day moving average price is $403.86 and its 200 day moving average price is $364.80. The company has a quick ratio of 2.01, a current ratio of 2.24 and a debt-to-equity ratio of 0.71.

Broadcom (NASDAQ:AVGO) last released its 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. Broadcom had a net margin of 38.85% and a return on equity of 41.61%. The company had revenue of $22.19 billion during the quarter, compared to analysts’ expectations of $22.13 billion. During the same quarter last year, the business earned $1.58 EPS. The business’s revenue was up 47.9% on a year-over-year basis. On average, equities research analysts expect that Broadcom Inc. will post 10.24 earnings per share for the current year.

Broadcom Dividend Announcement

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

Key Stories Impacting 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

Insider Buying and Selling at Broadcom

In related news, Director Gayla J. Delly sold 1,890 shares of the stock in a transaction on Wednesday, July 8th. The stock was sold at an average price of $385.38, for a total transaction of $728,368.20. Following the sale, the director owned 31,326 shares of the company’s stock, valued at $12,072,413.88. This trade represents a 5.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mark David Brazeal sold 25,000 shares of Broadcom 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 sale, the insider owned 194,989 shares of the company’s stock, valued at approximately $78,254,935.37. This trade represents a 11.36% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 61,644 shares of company stock valued at $24,016,214 over the last 90 days. 1.90% of the stock is currently owned by corporate insiders.

Broadcom Company 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.