Broadcom Inc. $AVGO is Illinois Municipal Retirement Fund’s 8th Largest Position

Illinois Municipal Retirement Fund lifted its position in Broadcom Inc. (NASDAQ:AVGO) by 14.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 302,013 shares of the semiconductor manufacturer’s stock after purchasing an additional 37,056 shares during the quarter. Broadcom comprises about 1.2% of Illinois Municipal Retirement Fund’s holdings, making the stock its 8th biggest holding. Illinois Municipal Retirement Fund’s holdings in Broadcom were worth $93,476,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. truNorth Financial Services Inc. grew its holdings in shares of Broadcom by 5.0% during the 1st quarter. truNorth Financial Services Inc. now owns 840 shares of the semiconductor manufacturer’s stock worth $260,000 after purchasing an additional 40 shares during the period. Peninsula Asset Management Inc. grew its holdings in shares of Broadcom by 59.3% in the first quarter. Peninsula Asset Management Inc. now owns 11,571 shares of the semiconductor manufacturer’s stock valued at $3,581,000 after purchasing an additional 4,309 shares in the last quarter. Harmony Asset Management LLC grew its stake in shares of Broadcom by 1.4% in the first quarter. Harmony Asset Management LLC now owns 9,107 shares of the semiconductor manufacturer’s stock worth $2,819,000 after acquiring an additional 126 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. grew its stake in Broadcom by 61.4% during the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 736,534 shares of the semiconductor manufacturer’s stock worth $227,960,000 after purchasing an additional 280,124 shares in the last quarter. Finally, Avanda Investment Management Pte. Ltd. grew its position in shares of Broadcom by 43.1% during the first quarter. Avanda Investment Management Pte. Ltd. now owns 9,160 shares of the semiconductor manufacturer’s stock worth $2,835,000 after buying an additional 2,760 shares in the last quarter. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Key Stories Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Standard Chartered chose Broadcom to support a long-term modernization of its global banking infrastructure, underscoring Broadcom’s role in secure private-cloud and enterprise networking solutions. Standard Chartered Selects Broadcom to Deliver Secure, Always-On Banking Services at Global Scale
• Positive Sentiment: Wall Street commentary continues to describe Broadcom as a core AI beneficiary, and some analysts have raised price targets even after the stock pullback. As Shares Fall, Analyst Are Boosting Their Broadcom Price Targets
• Neutral Sentiment: Broadcom remains a major talking point in AI-focused market coverage, with some investors viewing it as an indicator for the broader market and semiconductor cycle. Jim Cramer Says Broadcom Will Tell You When the Market Is About to Turn
• Negative Sentiment: Broadcom is facing renewed skepticism around valuation, with one report asking whether the AI story has made the stock too expensive. Has Broadcom Become Too Expensive for Its AI Story?
• Negative Sentiment: The stock is also being hit by a broader selloff in semiconductor names as investors rotate away from AI-capex winners and worry about a slowdown in chip spending. Marvell Drops 8% as AI Capex Slowdown Fears Weigh on Chips; Broadcom, AMD, and Intel Slide
• Negative Sentiment: Broadcom is also dealing with regulatory uncertainty after reports said it faces an EU antitrust review tied to VMware licensing changes. Broadcom (AVGO) Faces EU Antitrust Review Over VMware Licensing Changes

Broadcom Trading Down 1.0%

Shares of AVGO opened at $370.83 on Friday. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.24 and a quick ratio of 2.01. The firm has a 50 day simple moving average of $401.29 and a 200-day simple moving average of $365.31. The stock has a market cap of $1.76 trillion, a price-to-earnings ratio of 61.81, a price-to-earnings-growth ratio of 0.65 and a beta of 1.45. Broadcom Inc. has a 1-year low of $273.00 and a 1-year high of $495.00.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $22.13 billion. During the same period in the prior year, the business earned $1.58 earnings per share. The business’s revenue was up 47.9% on a year-over-year basis. Equities analysts forecast that Broadcom Inc. will post 10.24 EPS for the current fiscal year.

Broadcom Announces Dividend

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

Insider Activity

In other news, 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 transaction of $728,368.20. Following the sale, the director owned 31,326 shares in the company, valued at $12,072,413.88. This trade represents a 5.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Justine Page sold 1,602 shares of the firm’s stock in a transaction on Monday, June 29th. The stock was sold at an average price of $373.86, for a total value of $598,923.72. Following the sale, the director owned 17,426 shares in the company, valued at $6,514,884.36. This trade represents a 8.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 61,644 shares of company stock worth $24,016,214. Corporate insiders own 1.90% of the company’s stock.

Wall Street Analyst Weigh In

AVGO has been the topic of several recent analyst reports. Morgan Stanley set a $502.00 target price on Broadcom and gave the company an “overweight” rating in a report on Thursday, June 4th. UBS Group set a $485.00 target price on shares of Broadcom and gave the stock a “buy” rating in a research report on Thursday, June 4th. Truist Financial boosted their price target on Broadcom from $545.00 to $550.00 and gave the company a “buy” rating in a research report on Thursday, June 4th. Mizuho boosted their price objective 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. Finally, Susquehanna reiterated a “positive” rating and set a $490.00 target price (up from $450.00) on shares of Broadcom in a research report on Thursday, May 28th. One analyst has rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus 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.