First Horizon Corp Decreases Stock Holdings in Broadcom Inc. $AVGO

First Horizon Corp lessened its position in Broadcom Inc. (NASDAQ:AVGO) by 4.2% during the 1st quarter, HoldingsChannel.com reports. The fund owned 111,389 shares of the semiconductor manufacturer’s stock after selling 4,876 shares during the quarter. Broadcom makes up about 1.4% of First Horizon Corp’s portfolio, making the stock its 11th largest holding. First Horizon Corp’s holdings in Broadcom were worth $34,476,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mosaic Family Wealth Partners LLC grew its position in Broadcom by 12.6% in the first quarter. Mosaic Family Wealth Partners LLC now owns 2,382 shares of the semiconductor manufacturer’s stock worth $737,000 after acquiring an additional 267 shares during the period. Kestra Advisory Services LLC grew its stake in Broadcom by 20.9% during the 1st quarter. Kestra Advisory Services LLC now owns 482,379 shares of the semiconductor manufacturer’s stock worth $149,301,000 after purchasing an additional 83,424 shares in the last quarter. Money Concepts Capital Corp raised its position in Broadcom by 1.0% in the 1st quarter. Money Concepts Capital Corp now owns 12,298 shares of the semiconductor manufacturer’s stock valued at $3,806,000 after purchasing an additional 120 shares in the last quarter. Resona Asset Management Co. Ltd. boosted its stake in shares of Broadcom by 2.2% in the 1st quarter. Resona Asset Management Co. Ltd. now owns 1,399,140 shares of the semiconductor manufacturer’s stock valued at $428,711,000 after buying an additional 29,773 shares during the period. Finally, Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. increased its stake in shares of Broadcom by 5.7% during the first quarter. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. now owns 3,030 shares of the semiconductor manufacturer’s stock worth $938,000 after buying an additional 164 shares during the period. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insider Buying and Selling at Broadcom

In other Broadcom news, Director Justine Page sold 1,602 shares of the stock in a transaction on Monday, June 29th. The stock was sold at an average price of $373.86, for a total transaction of $598,923.72. Following the sale, the director owned 17,426 shares in the company, valued at approximately $6,514,884.36. This represents a 8.42% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gayla J. Delly sold 1,890 shares of the business’s stock in a transaction on Wednesday, July 8th. The stock was sold at an average price of $385.38, for a total value of $728,368.20. Following the completion of the transaction, the director directly owned 31,326 shares of the company’s stock, valued at approximately $12,072,413.88. This trade represents a 5.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 36,644 shares of company stock valued at $13,982,964. Company insiders own 1.90% of the company’s stock.

Analyst Ratings Changes

AVGO has been the topic of a number of analyst reports. Mizuho raised their price objective on shares of Broadcom from $480.00 to $530.00 and gave the company an “outperform” rating in a report on Thursday, June 4th. TD Cowen reaffirmed a “buy” rating and issued a $500.00 target price on shares of Broadcom in a report on Thursday, June 4th. Wall Street Zen upgraded shares of Broadcom from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, July 1st. KeyCorp reaffirmed an “overweight” rating and set a $575.00 price objective (up from $500.00) on shares of Broadcom in a research report on Thursday, June 4th. Finally, Citigroup reiterated a “buy” rating on shares of Broadcom in a research note on Thursday, June 4th. One research analyst has rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $493.24.

Broadcom News Roundup

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 Stock Performance

Shares of Broadcom stock opened at $399.97 on Monday. The company has a 50-day moving average of $405.29 and a two-hundred day moving average of $364.28. The company has a current ratio of 2.24, a quick ratio of 2.01 and a debt-to-equity ratio of 0.71. The stock has a market cap of $1.90 trillion, a PE ratio of 66.66, a price-to-earnings-growth ratio of 0.70 and a beta of 1.45. Broadcom Inc. has a 12-month low of $269.58 and a 12-month high of $495.00.

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

Broadcom Announces Dividend

The firm also recently announced 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 dividend payout ratio (DPR) is 43.33%.

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.