Fidelity D & D Bancorp Inc. Trims Stock Position in Broadcom Inc. $AVGO

Fidelity D & D Bancorp Inc. lowered its position in Broadcom Inc. (NASDAQ:AVGO) by 88.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 889 shares of the semiconductor manufacturer’s stock after selling 6,621 shares during the quarter. Fidelity D & D Bancorp Inc.’s holdings in Broadcom were worth $275,000 at the end of the most recent quarter.

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

Wall Street Analyst Weigh In

Several research firms recently commented on AVGO. JPMorgan Chase & Co. lifted their price target on Broadcom from $500.00 to $580.00 and gave the stock an “overweight” rating in a research report on Thursday, June 4th. Truist Financial boosted their target price on Broadcom from $545.00 to $550.00 and gave the stock a “buy” rating in a research note on Thursday, June 4th. The Goldman Sachs Group reissued a “buy” rating and issued a $525.00 price objective on shares of Broadcom in a report on Thursday, June 4th. UBS Group set a $485.00 price target on shares of Broadcom and gave the stock a “buy” rating in a report on Thursday, June 4th. Finally, KeyCorp reaffirmed an “overweight” rating and issued a $575.00 price objective (up from $500.00) on shares of Broadcom in a report on Thursday, June 4th. One investment 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.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $493.24.

Insiders Place Their Bets

In other Broadcom news, Director Gayla J. Delly sold 1,890 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the director directly owned 31,326 shares of the company’s stock, valued at $12,072,413.88. This represents a 5.69% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Justine Page sold 1,602 shares of the stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $373.86, for a total transaction of $598,923.72. Following the transaction, the director directly owned 17,426 shares of the company’s stock, valued at $6,514,884.36. This represents a 8.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 36,644 shares of company stock valued at $13,982,964. 1.90% of the stock is owned by company insiders.

Key Broadcom News

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 Price Performance

AVGO stock opened at $399.97 on Monday. 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 firm has a 50-day simple moving average of $405.29 and a 200-day simple moving average of $364.28. The stock has a market capitalization of $1.90 trillion, a P/E ratio of 66.66, a P/E/G ratio of 0.70 and a beta of 1.45. Broadcom Inc. has a 52 week low of $269.58 and a 52 week high of $495.00.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 EPS for the quarter, beating the consensus estimate of $2.40 by $0.04. Broadcom had a return on equity of 41.61% and a net margin of 38.85%.The firm had revenue of $22.19 billion during the quarter, compared to the consensus estimate of $22.13 billion. During the same period in the prior year, the company earned $1.58 EPS. The firm’s revenue was up 47.9% compared to the same quarter last year. Equities analysts forecast 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. Shareholders of record on Monday, June 22nd were issued a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 0.7%. The ex-dividend date was Monday, June 22nd. Broadcom’s payout ratio is 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.