CHICAGO TRUST Co NA Trims Stake in Broadcom Inc. $AVGO

CHICAGO TRUST Co NA cut its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 5.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 22,792 shares of the semiconductor manufacturer’s stock after selling 1,429 shares during the period. Broadcom makes up 1.1% of CHICAGO TRUST Co NA’s portfolio, making the stock its 18th largest holding. CHICAGO TRUST Co NA’s holdings in Broadcom were worth $7,054,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in AVGO. Norges Bank bought a new position in shares of Broadcom during the fourth quarter valued at approximately $24,252,196,000. Cardano Risk Management B.V. lifted its stake in shares of Broadcom by 895.2% during the 4th quarter. Cardano Risk Management B.V. now owns 12,689,800 shares of the semiconductor manufacturer’s stock worth $4,391,940,000 after acquiring an additional 11,414,701 shares during the last quarter. State Street Corp lifted its stake in shares of 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 acquiring an additional 5,040,801 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in Broadcom by 499.4% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 5,634,232 shares of the semiconductor manufacturer’s stock valued at $1,858,789,000 after acquiring an additional 4,694,313 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in Broadcom by 0.8% during 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 acquiring an additional 3,919,715 shares during the period. 76.43% of the stock is currently owned by institutional investors.

Broadcom News Roundup

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: JPMorgan, UBS, Jefferies and other analysts remain constructive on Broadcom’s AI-driven growth, with price targets well above current levels and continued optimism around custom AI silicon demand, including exposure to customers such as OpenAI and Anthropic. UBS Reaffirms Buy Rating on Broadcom (AVGO) Amid AI ASIC Demand and OpenAI, Anthropic Growth
• Positive Sentiment: Articles highlighting Broadcom’s partnership with OpenAI on the “Jalapeño” AI accelerator reinforce the market’s bullish view that AI infrastructure can keep driving revenue growth. What Broadcom (AVGO)’s Jalapeño AI Accelerator Partnership With OpenAI Means For Shareholders
• Neutral Sentiment: Several recent write-ups argue Broadcom may be attractive after its pullback, but they mostly restate the same long-term thesis rather than pointing to a new catalyst. Why Broadcom Stock Slumped Today
• Neutral Sentiment: Investors continue to search for clues on whether Broadcom can rebound from its post-earnings decline, with coverage focusing on earnings estimates and fair-value changes. Broadcom (AVGO) Stock Gets Fair Value Boost As Analysts Split On AI Outlook
• Negative Sentiment: Director Justine Page sold 1,602 shares of Broadcom stock, extending insider-selling headlines that can weigh on sentiment even if the sale is relatively small versus the company’s size. SEC Form 4 filing for Justine Page sale
• Negative Sentiment: Broadcom remains about 14% below its last earnings report level, and recent commentary suggests investors are still uneasy about whether the company’s strong results were enough to justify its premium valuation. Broadcom Inc. (AVGO) Down 14% Since Last Earnings Report: Can It Rebound?

Broadcom Price Performance

NASDAQ:AVGO opened at $360.45 on Monday. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.24 and a quick ratio of 2.01. Broadcom Inc. has a 1-year low of $269.58 and a 1-year high of $495.00. The company has a 50-day moving average of $407.92 and a 200 day moving average of $362.49. The firm has a market cap of $1.71 trillion, a PE ratio of 60.08, a price-to-earnings-growth ratio of 0.63 and a beta of 1.45.

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

Broadcom Announces Dividend

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

Insider Activity at Broadcom

In related news, Director Harry L. You purchased 1,000 shares of the business’s stock in a transaction dated Thursday, June 11th. The shares were acquired at an average cost of $373.57 per share, for a total transaction of $373,570.00. Following the acquisition, the director owned 38,466 shares of the company’s stock, valued at $14,369,743.62. The trade was a 2.67% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider S. Ram Velaga sold 8,000 shares of the business’s stock in a transaction on Friday, April 10th. The stock was sold at an average price of $370.52, for a total value of $2,964,160.00. Following the completion of the transaction, the insider directly owned 57,932 shares of the company’s stock, valued at approximately $21,464,964.64. The trade was a 12.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 60,987 shares of company stock valued at $21,899,980 over the last 90 days. Insiders own 1.90% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Cantor Fitzgerald reiterated an “overweight” rating and issued a $525.00 target price on shares of Broadcom in a research note on Thursday, June 4th. Mizuho boosted their target price on shares of Broadcom from $480.00 to $530.00 and gave the company an “outperform” rating in a research note on Thursday, June 4th. Zacks Research cut shares of Broadcom from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 21st. Jefferies Financial Group set a $550.00 price target on shares of Broadcom and gave the stock a “buy” rating in a research note on Thursday, June 4th. Finally, Royal Bank Of Canada lifted their price objective on shares of Broadcom from $360.00 to $400.00 and gave the company a “sector perform” rating in a report on Thursday, June 4th. One analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $493.24.

Broadcom 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.