Citizens Financial Group Inc. RI Has $93.42 Million Holdings in Broadcom Inc. $AVGO

Citizens Financial Group Inc. RI cut its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 0.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 301,825 shares of the semiconductor manufacturer’s stock after selling 1,698 shares during the quarter. Broadcom makes up about 1.3% of Citizens Financial Group Inc. RI’s portfolio, making the stock its 17th largest position. Citizens Financial Group Inc. RI’s holdings in Broadcom were worth $93,418,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also added to or reduced their stakes in AVGO. Vanguard Group Inc. grew 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 worth $167,064,997,000 after purchasing an additional 3,919,715 shares in the last quarter. State Street Corp increased its position in 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 during the last quarter. Geode Capital Management LLC raised its stake in Broadcom by 1.4% in the 4th quarter. Geode Capital Management LLC now owns 111,277,280 shares of the semiconductor manufacturer’s stock valued at $38,396,634,000 after acquiring an additional 1,548,699 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of Broadcom by 3.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 85,546,083 shares of the semiconductor manufacturer’s stock valued at $29,607,500,000 after purchasing an additional 2,491,644 shares during the period. Finally, Norges Bank bought a new stake in Broadcom during the 4th quarter valued at $24,252,196,000. Institutional investors own 76.43% of the company’s stock.

Broadcom Price Performance

Shares of NASDAQ AVGO opened at $389.11 on Wednesday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.01 and a current ratio of 2.24. The company has a 50 day simple moving average of $403.86 and a two-hundred day simple moving average of $364.80. Broadcom Inc. has a fifty-two week low of $273.00 and a fifty-two week high of $495.00. The company has a market capitalization of $1.85 trillion, a price-to-earnings ratio of 64.85, a P/E/G ratio of 0.67 and a beta of 1.45.

Broadcom (NASDAQ:AVGO) last released its earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 EPS for the quarter, topping analysts’ consensus estimates of $2.40 by $0.04. The firm had revenue of $22.19 billion for 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 quarterly revenue was up 47.9% on a year-over-year basis. During the same period in the prior year, the firm posted $1.58 earnings per share. Analysts expect that Broadcom Inc. will post 10.24 EPS for the current fiscal year.

Broadcom Announces Dividend

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

Analyst Upgrades and Downgrades

AVGO has been the topic of a number of recent analyst reports. The Goldman Sachs Group reissued a “buy” rating and issued a $525.00 price target on shares of Broadcom in a report on Thursday, June 4th. Wall Street Zen upgraded Broadcom from a “buy” rating to a “strong-buy” rating in a report on Wednesday, July 1st. Citigroup reiterated a “buy” rating on shares of Broadcom in a research report on Thursday, June 4th. Jefferies Financial Group set a $550.00 price objective on Broadcom and gave the company a “buy” rating in a research report on Thursday, June 4th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $515.00 target price (up from $430.00) on shares of Broadcom in a report on Thursday, June 4th. One analyst has rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $493.24.

Insiders Place Their Bets

In related news, insider Mark David Brazeal sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, July 10th. The shares were sold at an average price of $401.33, for a total value of $10,033,250.00. Following the sale, the insider owned 194,989 shares in the company, valued at approximately $78,254,935.37. This trade represents a 11.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Gayla J. Delly sold 1,890 shares of the firm’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 owned 31,326 shares in the company, valued at approximately $12,072,413.88. This trade represents a 5.69% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 61,644 shares of company stock valued at $24,016,214. Company insiders own 1.90% of the company’s stock.

Broadcom News Roundup

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

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.