Huntington National Bank Raises Stock Position in Broadcom Inc. $AVGO

Huntington National Bank lifted its position in Broadcom Inc. (NASDAQ:AVGO) by 0.4% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 1,166,194 shares of the semiconductor manufacturer’s stock after purchasing an additional 4,286 shares during the period. Broadcom comprises approximately 2.4% of Huntington National Bank’s portfolio, making the stock its 8th biggest holding. Huntington National Bank’s holdings in Broadcom were worth $403,620,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in AVGO. Arrowstreet Capital Limited Partnership boosted its holdings in Broadcom by 499.4% in the third 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 in the last quarter. Vanguard Group Inc. boosted its holdings in Broadcom by 0.8% in the fourth 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 in the last quarter. Nordea Investment Management AB boosted its holdings in Broadcom by 47.5% in the fourth quarter. Nordea Investment Management AB now owns 9,814,757 shares of the semiconductor manufacturer’s stock valued at $3,406,211,000 after acquiring an additional 3,160,586 shares in the last quarter. Danske Bank A S bought a new stake in Broadcom in the third quarter valued at $987,488,000. Finally, PFA Pension Forsikringsaktieselskab bought a new stake in Broadcom in the fourth quarter valued at $924,858,000. Institutional investors own 76.43% of the company’s stock.

Insider Activity at Broadcom

In other Broadcom news, insider Charlie B. Kawwas sold 39,116 shares of the company’s stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $321.61, for a total transaction of $12,580,096.76. Following the transaction, the insider owned 74,626 shares in the company, valued at approximately $24,000,467.86. This represents a 34.39% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Kirsten M. Spears sold 36,292 shares of the company’s stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $321.60, for a total transaction of $11,671,507.20. Following the sale, the chief financial officer directly owned 327,760 shares of the company’s stock, valued at $105,407,616. The trade was a 9.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 324,282 shares of company stock worth $106,425,249 over the last quarter. 1.90% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on AVGO shares. Wells Fargo & Company reiterated an “overweight” rating and issued a $545.00 price target (up from $430.00) on shares of Broadcom in a report on Thursday, May 14th. TD Cowen restated a “buy” rating and set a $500.00 target price (up from $405.00) on shares of Broadcom in a report on Friday, May 15th. Morgan Stanley boosted their target price on shares of Broadcom from $470.00 to $485.00 and gave the company an “overweight” rating in a report on Monday. Zacks Research cut shares of Broadcom from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 21st. Finally, Susquehanna restated a “positive” rating and set a $490.00 target price (up from $450.00) on shares of Broadcom in a report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Broadcom has a consensus rating of “Moderate Buy” and an average target price of $455.07.

Broadcom Price Performance

AVGO opened at $459.97 on Tuesday. The stock has a 50-day moving average price of $386.31 and a 200-day moving average price of $359.32. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.90 and a quick ratio of 1.73. The firm has a market cap of $2.18 trillion, a PE ratio of 89.84, a P/E/G ratio of 0.92 and a beta of 1.41. Broadcom Inc. has a 1 year low of $241.11 and a 1 year high of $466.05.

Broadcom (NASDAQ:AVGO) last issued its earnings results on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 earnings per share for the quarter, topping analysts’ consensus estimates of $2.03 by $0.02. The business had revenue of $19.31 billion during the quarter, compared to analyst estimates of $19.10 billion. Broadcom had a return on equity of 38.61% and a net margin of 36.57%.Broadcom’s revenue was up 29.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.60 EPS. Sell-side analysts predict that Broadcom Inc. will post 9.91 earnings per share for the current fiscal year.

Broadcom News Summary

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom unveiled new broadband and Wi‑Fi 8 connectivity innovations with an embedded NPU, reinforcing its AI-at-the-edge growth story and expanding its product pipeline. Article link
• Positive Sentiment: Morgan Stanley raised its price target on Broadcom to $485 and kept an overweight rating, signaling continued analyst confidence ahead of earnings.
• Positive Sentiment: Broadcom is attracting bullish investor attention as traders bet on strong AI-chip demand and a potential breakout after earnings, with several articles calling it a top stock to watch. Article link
• Positive Sentiment: Broadcom is being highlighted by market commentators and bullish research as an AI leader and a long-term growth stock, which is helping sentiment into the earnings print.
• Neutral Sentiment: Some coverage notes that expectations are very high, with the stock trading at a premium valuation, so the upcoming earnings report will need to be strong to justify the move. Article link
• Neutral Sentiment: Traders are expecting a large post-earnings swing, which reflects uncertainty as much as optimism.
• Negative Sentiment: Bearish commentary from one market watcher suggests some investors are hedging ahead of the report, reflecting concern that the stock’s elevated valuation leaves little room for disappointment. Article link

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.