Broadcom Inc. $AVGO Shares Sold by Penobscot Investment Management Company Inc.

Penobscot Investment Management Company Inc. lessened its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 5.0% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 154,321 shares of the semiconductor manufacturer’s stock after selling 8,093 shares during the quarter. Broadcom comprises 4.0% of Penobscot Investment Management Company Inc.’s investment portfolio, making the stock its 5th biggest holding. Penobscot Investment Management Company Inc.’s holdings in Broadcom were worth $58,295,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of Broadcom by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 482,707,302 shares of the semiconductor manufacturer’s stock worth $167,064,997,000 after acquiring an additional 3,919,715 shares during the last quarter. State Street Corp increased its holdings in shares of Broadcom by 2.7% in the 4th quarter. State Street Corp now owns 190,084,351 shares of the semiconductor manufacturer’s stock valued at $65,788,194,000 after acquiring an additional 5,040,801 shares during the period. Geode Capital Management LLC raised its position in Broadcom by 1.4% in the 4th quarter. Geode Capital Management LLC now owns 111,277,280 shares of the semiconductor manufacturer’s stock valued at $38,396,634,000 after purchasing an additional 1,548,699 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Broadcom by 3.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 85,546,083 shares of the semiconductor manufacturer’s stock worth $29,607,500,000 after purchasing an additional 2,491,644 shares during the period. Finally, Norges Bank purchased a new position in Broadcom during the 4th quarter worth $24,252,196,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Key Stories Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: AI financing deal could expand Broadcom’s growth opportunity: Broadcom is reportedly discussing $70 billion to $80 billion of debt financing—potentially approaching $100 billion—to provide AI chips to Anthropic and other companies. The arrangement could support substantial future chip demand, although the financing remains under discussion. Broadcom debt deal expected to reach upwards of $70 billion
• Positive Sentiment: Analysts remain constructive: BMO initiated coverage with an “outperform” rating and a $455 price target, implying meaningful upside from recent levels. Other recent commentary also argues that Broadcom’s AI cycle and long-term custom-chip position could support further gains. Broadcom Stock Picks Up Another Lofty Bull Note
• Positive Sentiment: Strong AI demand underpins the bullish case: Reports cite approximately $30 billion in quarterly AI bookings and management’s goal of exceeding $100 billion in AI sales by 2027. Broadcom’s latest reported quarter also showed 47.9% year-over-year revenue growth, reinforcing the company’s momentum. Broadcom’s AI Boom: Is a 2x Stock Gain Still Within Reach?
• Neutral Sentiment: Debt-funded expansion introduces execution and balance-sheet risk: Borrowing tens of billions of dollars could accelerate AI infrastructure growth, but it would also increase leverage and financing costs if customer demand or deal economics disappoint. Broadcom reportedly eyes nearly $100 billion debt package
• Negative Sentiment: Marvell’s Google partnership threatens Broadcom’s custom AI-chip dominance: Marvell’s agreement covers products connected to Google’s TPU ecosystem, including inference accelerators and networking components. Google also received warrants that could align it more closely with Marvell, raising concerns about future share loss for Broadcom despite Broadcom’s existing multiyear Google partnership. Marvell Constructs an AI Moat With Alphabet Warrants

Analyst Upgrades and Downgrades

A number of research analysts have commented on AVGO shares. Oppenheimer restated an “outperform” rating and issued a $535.00 price objective (up from $450.00) on shares of Broadcom in a research note on Thursday, June 4th. Morgan Stanley set a $502.00 target price on shares of Broadcom and gave the stock an “overweight” rating in a research note on Thursday, June 4th. Rosenblatt Securities reissued a “buy” rating and set a $500.00 price target on shares of Broadcom in a report on Thursday, June 4th. Susquehanna restated a “positive” rating and issued a $490.00 price target (up from $450.00) on shares of Broadcom in a research report on Thursday, May 28th. Finally, Dbs Bank raised Broadcom to a “moderate buy” rating in a research note on Thursday, June 18th. Twenty-nine analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $491.97.

Broadcom Stock Performance

Shares of AVGO opened at $368.45 on Friday. The stock has a market capitalization of $1.75 trillion, a P/E ratio of 61.41, a P/E/G ratio of 0.70 and a beta of 1.45. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.01 and a current ratio of 2.24. Broadcom Inc. has a 1 year low of $287.17 and a 1 year high of $495.00. The company’s fifty day moving average is $388.57 and its two-hundred day moving average is $374.80.

Broadcom (NASDAQ:AVGO) last released its earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 EPS for the quarter, topping the consensus estimate 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 net margin of 38.85% and a return on equity of 41.61%. The business’s revenue was up 47.9% on a year-over-year basis. During the same quarter last year, the business earned $1.58 EPS. On average, sell-side analysts predict that Broadcom Inc. will post 10.24 earnings per share for the current year.

Broadcom Announces Dividend

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

Insider Activity

In other Broadcom news, insider Mark David Brazeal sold 25,000 shares of the business’s 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. The trade was a 11.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Gayla J. Delly sold 1,890 shares of the stock in a transaction that occurred on Wednesday, July 8th. The stock was sold at an average price of $385.38, for a total value of $728,368.20. Following the transaction, the director directly owned 31,326 shares of the company’s stock, valued at approximately $12,072,413.88. This trade represents a 5.69% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 61,644 shares of company stock worth $24,016,214 in the last three months. 1.90% of the stock is currently owned by company insiders.

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.