Broadcom Inc. $AVGO Position Lowered by SouthState Bank Corp

SouthState Bank Corp trimmed its position in Broadcom Inc. (NASDAQ:AVGO) by 2.5% during the first quarter, Holdings Channel.com reports. The firm owned 217,129 shares of the semiconductor manufacturer’s stock after selling 5,516 shares during the period. Broadcom accounts for approximately 3.1% of SouthState Bank Corp’s holdings, making the stock its 3rd largest position. SouthState Bank Corp’s holdings in Broadcom were worth $67,204,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. ROSS JOHNSON & Associates LLC raised its stake in Broadcom by 1,320.0% in the fourth quarter. ROSS JOHNSON & Associates LLC now owns 71 shares of the semiconductor manufacturer’s stock valued at $25,000 after buying an additional 66 shares in the last quarter. SWAN Capital LLC boosted its position in shares of Broadcom by 261.9% during the 4th quarter. SWAN Capital LLC now owns 76 shares of the semiconductor manufacturer’s stock worth $26,000 after acquiring an additional 55 shares in the last quarter. Networth Advisors LLC increased its holdings in shares of Broadcom by 546.2% in the 1st quarter. Networth Advisors LLC now owns 84 shares of the semiconductor manufacturer’s stock valued at $26,000 after acquiring an additional 71 shares during the last quarter. Miller Global Investments LLC acquired a new stake in shares of Broadcom during the 4th quarter worth about $31,000. Finally, Nvest Wealth Strategies Inc. acquired a new stake in shares of Broadcom during the 4th quarter worth about $33,000. 76.43% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Broadcom

In related news, Director Justine Page sold 1,602 shares of the stock in a transaction on Monday, June 29th. The shares were sold at an average price of $373.86, for a total transaction of $598,923.72. Following the completion of the sale, the director owned 17,426 shares in the company, valued at $6,514,884.36. This represents a 8.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 transaction of $728,368.20. Following the transaction, the director directly owned 31,326 shares in the company, valued at $12,072,413.88. The trade was a 5.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 61,644 shares of company stock worth $24,016,214 in the last quarter. 1.90% of the stock is currently owned by company insiders.

Key Headlines 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%

NASDAQ:AVGO opened at $370.83 on Friday. The company has a market capitalization of $1.76 trillion, a PE ratio of 61.81, a P/E/G ratio of 0.65 and a beta of 1.45. Broadcom Inc. has a 52-week low of $273.00 and a 52-week high of $495.00. The stock’s 50 day moving average price is $401.29 and its 200 day moving average price is $365.31. The company has a quick ratio of 2.01, a current ratio of 2.24 and a debt-to-equity ratio of 0.71.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share for the quarter, beating analysts’ consensus estimates of $2.40 by $0.04. The company had revenue of $22.19 billion during 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 firm’s revenue for the quarter was up 47.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.58 earnings per share. On average, research analysts anticipate that Broadcom Inc. will post 10.24 EPS for the current year.

Broadcom Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on AVGO shares. Benchmark upped their price target on Broadcom from $485.00 to $545.00 and gave the company a “buy” rating in a report on Thursday, June 4th. Erste Group Bank reissued a “hold” rating on shares of Broadcom in a report on Tuesday, July 7th. Royal Bank Of Canada boosted their price objective on shares of Broadcom from $360.00 to $400.00 and gave the stock a “sector perform” rating in a research report on Thursday, June 4th. Oppenheimer restated an “outperform” rating and issued a $535.00 target price (up from $450.00) on shares of Broadcom in a report on Thursday, June 4th. Finally, JPMorgan Chase & Co. increased their target price on shares of Broadcom from $500.00 to $580.00 and gave the company an “overweight” rating in a research report on Thursday, June 4th. One research analyst has rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price 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.