Citizens Financial Group Inc. RI Sells 1,698 Shares of Broadcom Inc. $AVGO

Citizens Financial Group Inc. RI trimmed its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 0.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 301,825 shares of the semiconductor manufacturer’s stock after selling 1,698 shares during the period. Broadcom accounts for 1.3% of Citizens Financial Group Inc. RI’s portfolio, making the stock its 17th largest holding. Citizens Financial Group Inc. RI’s holdings in Broadcom were worth $93,418,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Sovran Advisors LLC raised its holdings in shares of Broadcom by 121.3% during the 4th quarter. Sovran Advisors LLC now owns 30,631 shares of the semiconductor manufacturer’s stock worth $10,507,000 after acquiring an additional 16,789 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its stake in shares of Broadcom by 406.1% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 11,994 shares of the semiconductor manufacturer’s stock worth $4,151,000 after purchasing an additional 9,624 shares during the period. Aspiriant LLC grew its position in Broadcom by 18.5% in the 4th quarter. Aspiriant LLC now owns 12,016 shares of the semiconductor manufacturer’s stock valued at $4,158,000 after acquiring an additional 1,872 shares during the last quarter. World Investment Advisors grew its holdings in shares of Broadcom by 16.1% in the fourth quarter. World Investment Advisors now owns 177,710 shares of the semiconductor manufacturer’s stock worth $61,505,000 after purchasing an additional 24,703 shares during the last quarter. Finally, Western Financial Corp CA grew its stake in Broadcom by 90.5% in the 4th quarter. Western Financial Corp CA now owns 6,481 shares of the semiconductor manufacturer’s stock worth $2,243,000 after acquiring an additional 3,079 shares in the last quarter. Institutional investors own 76.43% of the company’s stock.

Insider Buying and Selling

In related news, insider Mark David Brazeal sold 25,000 shares of Broadcom stock in a transaction that occurred on 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 transaction, 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 filing with the SEC, which can be accessed through this link. Also, Director Harry L. You purchased 1,000 shares of Broadcom stock in a transaction dated Thursday, June 11th. The shares were bought at an average price of $373.57 per share, for a total transaction of $373,570.00. Following the acquisition, the director owned 38,466 shares in the company, valued at approximately $14,369,743.62. This trade represents a 2.67% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders sold a total of 61,644 shares of company stock worth $24,016,214 in the last three months. Company insiders own 1.90% of the company’s stock.

Broadcom Stock Up 1.3%

Shares of NASDAQ AVGO opened at $389.11 on Wednesday. Broadcom Inc. has a 52-week low of $273.00 and a 52-week high of $495.00. The company’s 50-day simple moving average is $403.86 and its 200-day simple moving average 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. The firm has a market cap of $1.85 trillion, a price-to-earnings ratio of 64.85, a price-to-earnings-growth ratio of 0.67 and a beta of 1.45.

Broadcom (NASDAQ:AVGO) last announced 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 return on equity of 41.61% and a net margin of 38.85%.The business had revenue of $22.19 billion during the quarter, compared to analysts’ expectations of $22.13 billion. During the same quarter in the prior year, the firm earned $1.58 earnings per share. The business’s revenue was up 47.9% compared to the same quarter last year. Equities analysts predict 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. Shareholders of record on Monday, June 22nd were issued a $0.65 dividend. The ex-dividend date was Monday, June 22nd. This represents a $2.60 dividend on an annualized basis and a yield of 0.7%. Broadcom’s dividend payout ratio is presently 43.33%.

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

Analyst Ratings Changes

Several brokerages have recently commented on AVGO. Citigroup restated a “buy” rating on shares of Broadcom in a research note on Thursday, June 4th. Zacks Research downgraded Broadcom from a “strong-buy” rating to a “hold” rating in a research report on Thursday, May 21st. Bank of America increased their price objective on shares of Broadcom from $450.00 to $530.00 and gave the company a “buy” rating in a research report on Thursday, June 4th. Truist Financial lifted their price target on Broadcom from $545.00 to $550.00 and gave the stock a “buy” rating in a research report on Thursday, June 4th. Finally, Wells Fargo & Company restated an “overweight” rating and set a $545.00 price objective (up from $430.00) on shares of Broadcom in a research note on Thursday, May 14th. One research 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. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $493.24.

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.