Broadcom Inc. $AVGO Stake Trimmed by SouthState Bank Corp

SouthState Bank Corp lessened its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 4.3% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 222,645 shares of the semiconductor manufacturer’s stock after selling 10,054 shares during the quarter. Broadcom accounts for about 3.4% of SouthState Bank Corp’s holdings, making the stock its 3rd biggest position. SouthState Bank Corp’s holdings in Broadcom were worth $77,057,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of AVGO. Miller Global Investments LLC purchased a new stake in shares of Broadcom in the 4th quarter valued at approximately $31,000. Nvest Wealth Strategies Inc. purchased a new position in Broadcom during the 4th quarter worth approximately $33,000. Family CFO Inc purchased a new position in Broadcom during the 4th quarter worth approximately $35,000. PayPay Securities Corp raised its stake in Broadcom by 88.9% during the 4th quarter. PayPay Securities Corp now owns 119 shares of the semiconductor manufacturer’s stock valued at $41,000 after purchasing an additional 56 shares during the period. Finally, Camelot Portfolios LLC acquired a new stake in Broadcom during the 4th quarter valued at $45,000. 76.43% of the stock is owned by hedge funds and other institutional investors.

Broadcom Trading Down 5.1%

NASDAQ AVGO opened at $372.10 on Thursday. The company has a current ratio of 2.24, a quick ratio of 2.01 and a debt-to-equity ratio of 0.71. Broadcom Inc. has a 1-year low of $243.80 and a 1-year high of $495.00. The firm’s fifty day simple moving average is $401.36 and its 200-day simple moving average is $362.87. The company has a market capitalization of $1.76 trillion, a PE ratio of 62.02, a price-to-earnings-growth ratio of 0.71 and a beta of 1.41.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.40 by $0.04. Broadcom had a return on equity of 41.61% and a net margin of 38.85%.The firm had revenue of $22.19 billion during the quarter, compared to analysts’ expectations of $22.13 billion. During the same quarter last year, the firm earned $1.58 earnings per share. The business’s revenue for the quarter was up 47.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Broadcom Inc. will post 9.97 earnings per share for the current fiscal year.

Broadcom Announces Dividend

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

Analysts Set New Price Targets

AVGO has been the subject of several recent analyst reports. Susquehanna reaffirmed a “positive” rating and issued a $490.00 target price (up from $450.00) on shares of Broadcom in a research report on Thursday, May 28th. The Goldman Sachs Group reissued a “buy” rating and set a $525.00 price target on shares of Broadcom in a research report on Thursday, June 4th. Evercore reissued an “outperform” rating and issued a $582.00 price objective on shares of Broadcom in a research note on Tuesday, May 19th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $515.00 price objective (up from $430.00) on shares of Broadcom in a research report on Thursday, June 4th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $500.00 target price on shares of Broadcom in a research note on Thursday, June 4th. One research analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $490.13.

Insiders Place Their Bets

In related news, Director Justine Page sold 2,018 shares of the stock in a transaction that occurred on Wednesday, April 8th. The stock was sold at an average price of $353.00, for a total value of $712,354.00. Following the transaction, the director owned 18,164 shares in the company, valued at approximately $6,411,892. This represents a 10.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Charlie B. Kawwas sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 8th. The shares were sold at an average price of $345.23, for a total transaction of $3,452,300.00. Following the transaction, the insider directly owned 787,184 shares in the company, valued at approximately $271,759,532.32. The trade was a 1.25% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 324,282 shares of company stock worth $106,425,249 in the last quarter. Corporate insiders own 1.90% of the company’s stock.

Broadcom News Summary

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Several analysts and commentators argue the pullback is overdone, pointing to Broadcom’s strong fundamentals: revenue growth of about 48%, AI semiconductor revenue up 143%, and more than $30 billion in AI bookings. Bullish pieces say the stock looks attractive on cash flow and long-term AI demand. Article Title
• Positive Sentiment: Broadcom also gained support from a major AI infrastructure tie-up with Apollo Global Management and Blackstone, which are backing a $35 billion capacity expansion for Anthropic using Broadcom’s custom chips and networking gear. That reinforces the company’s role in the AI buildout. Article Title
• Neutral Sentiment: Some analysts remain constructive on the stock over the long term, citing expected EPS growth of more than 50% over the next five years and multiple recent upgrades/price-target increases. Article Title
• Neutral Sentiment: Other coverage highlights a “buy the dip” case after the post-earnings reset, with investors watching whether AI demand and margins stay strong enough to justify the premium valuation. Article Title
• Negative Sentiment: The main headwind is that Broadcom’s stock has been hit by a broader chip rotation/correction, with semiconductor names sold off as investors take profits from the AI trade. Broadcom has been singled out as one of the biggest laggards in that move. Article Title
• Negative Sentiment: Investors are also worried that Broadcom’s premium valuation leaves little room for error after its strong quarter, especially as guidance for AI revenue was viewed as less aggressive than hoped. Article Title
• Negative Sentiment: New commentary from Broadcom’s CEO that the company will focus only on chips, not a broader AI platform strategy, appears to have unnerved some AI-focused investors and added to the selloff. Article Title

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.