Centennial Bank AR Sells 1,789 Shares of Broadcom Inc. $AVGO

Centennial Bank AR cut its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 12.5% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 12,525 shares of the semiconductor manufacturer’s stock after selling 1,789 shares during the period. Broadcom accounts for about 1.4% of Centennial Bank AR’s investment portfolio, making the stock its 20th biggest holding. Centennial Bank AR’s holdings in Broadcom were worth $3,877,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of AVGO. Atlas Wealth LLC acquired a new position in shares of Broadcom during the 1st quarter worth approximately $33,045,000. Frontier Asset Management LLC bought a new stake in shares of Broadcom during the 1st quarter worth approximately $208,000. Future Fund LLC acquired a new stake in shares of Broadcom in the 1st quarter valued at approximately $2,860,000. Aire Advisors LLC boosted its holdings in shares of Broadcom by 80.6% in the 1st quarter. Aire Advisors LLC now owns 1,876 shares of the semiconductor manufacturer’s stock valued at $581,000 after buying an additional 837 shares during the last quarter. Finally, Kera Capital Partners Inc. grew its stake in shares of Broadcom by 0.5% in the first quarter. Kera Capital Partners Inc. now owns 24,357 shares of the semiconductor manufacturer’s stock valued at $7,539,000 after buying an additional 128 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Rosenblatt Securities restated a “buy” rating and set a $500.00 target price on shares of Broadcom in a report on Thursday, June 4th. Wall Street Zen cut shares of Broadcom from a “strong-buy” rating to a “buy” rating in a research note on Saturday. UBS Group set a $485.00 price objective on shares of Broadcom and gave the company a “buy” rating in a research report on Thursday, June 4th. JPMorgan Chase & Co. boosted their price objective on shares of Broadcom from $500.00 to $580.00 and gave the stock an “overweight” rating in a research note on Thursday, June 4th. Finally, Evercore reaffirmed an “outperform” rating and issued a $582.00 target price on shares of Broadcom in a report on Tuesday, May 19th. 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 an average target price of $493.24.

Broadcom Stock Up 2.0%

AVGO opened at $378.16 on Tuesday. Broadcom Inc. has a 1-year low of $273.00 and a 1-year high of $495.00. The stock’s fifty day simple moving average is $400.28 and its 200 day simple moving average is $365.62. The company has a current ratio of 2.24, a quick ratio of 2.01 and a debt-to-equity ratio of 0.71. The stock has a market cap of $1.80 trillion, a PE ratio of 63.03, a price-to-earnings-growth ratio of 0.65 and a beta of 1.45.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 EPS for the quarter, topping 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 firm had revenue of $22.19 billion during the quarter, compared to analysts’ expectations of $22.13 billion. During the same period in the previous year, the business posted $1.58 earnings per share. The company’s revenue for the quarter was up 47.9% compared to the same quarter last year. As a group, research analysts expect that Broadcom Inc. will post 10.24 earnings per share for the current year.

Broadcom Dividend Announcement

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

Insider Activity at Broadcom

In related news, Director Harry L. You purchased 1,000 shares of the stock in a transaction on Thursday, June 11th. The shares were purchased at an average cost of $373.57 per share, with a total value of $373,570.00. Following the acquisition, the director directly owned 38,466 shares in the company, valued at $14,369,743.62. The trade was a 2.67% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Gayla J. Delly sold 1,890 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at $12,072,413.88. This trade represents a 5.69% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 61,644 shares of company stock worth $24,016,214. 1.90% of the stock is currently owned by corporate insiders.

Broadcom News Roundup

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Morgan Stanley said Broadcom remains one of its preferred ways to play the AI infrastructure buildout, calling AVGO an attractive risk-reward name after the recent semiconductor pullback. Broadcom stock gains 2% today: here’s why
• Positive Sentiment: Analysts and market commentary highlighted Broadcom as a high-cash-flow AI chip stock that could benefit as investors look for quality names amid market volatility. 4 High Cash-Producing AI Chip Stocks to Buy Amid Market Uncertainties
• Positive Sentiment: Broadcom’s AI business is being viewed as a key driver of the investment case, with reports noting strong AI chip revenue growth and a larger shift toward AI-related mix. AMD vs. Broadcom: The Better AI-Chip Stock to Buy After the Sell-Off
• Positive Sentiment: Broadcom also announced a major infrastructure software deal with Standard Chartered to modernize banking cloud operations across 54 markets, which supports its VMware-based software revenue stream. Broadcom (AVGO) Lands Standard Chartered Deal To Power Banking Cloud In 54 Markets
• Neutral Sentiment: Broadcom was included in broader “buy the dip” chip-sector commentary as investors looked for value after the recent memory and AI semiconductor sell-off. The Memory Stock Sell-Off Created a ‘Strong Entry Point,’ Says Morgan Stanley. Investors Are Buying In.
• Negative Sentiment: Recent articles also noted that semiconductor stocks had fallen into a bear market after a sharp index decline, reflecting ongoing sectorwide pressure that could cap gains for AVGO. Semiconductor stocks enter bear market: Is bubble burst next?

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.