Canandaigua National Bank & Trust Co. Makes New Investment in Broadcom Inc. $AVGO

Canandaigua National Bank & Trust Co. acquired a new stake in shares of Broadcom Inc. (NASDAQ:AVGO) in the second quarter, according to its most recent disclosure with the SEC. The firm acquired 9,057 shares of the semiconductor manufacturer’s stock, valued at approximately $3,421,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. ROSS JOHNSON & Associates LLC grew its stake in Broadcom by 1,320.0% during the fourth quarter. ROSS JOHNSON & Associates LLC now owns 71 shares of the semiconductor manufacturer’s stock valued at $25,000 after acquiring an additional 66 shares in the last quarter. Networth Advisors LLC boosted its holdings in shares of Broadcom by 546.2% during the 1st quarter. Networth Advisors LLC now owns 84 shares of the semiconductor manufacturer’s stock valued at $26,000 after purchasing an additional 71 shares during the last quarter. SWAN Capital LLC boosted its holdings in shares of Broadcom by 261.9% during the 4th quarter. SWAN Capital LLC now owns 76 shares of the semiconductor manufacturer’s stock valued at $26,000 after purchasing an additional 55 shares during the last quarter. Nvest Wealth Strategies Inc. purchased a new position in shares of Broadcom during the fourth quarter valued at about $33,000. Finally, Family CFO Inc purchased a new position in shares of Broadcom during the fourth quarter valued at about $35,000. Institutional investors own 76.43% of the company’s stock.

Broadcom Stock Up 6.6%

Shares of NASDAQ:AVGO opened at $418.16 on Wednesday. The company has a market cap of $1.99 trillion, a price-to-earnings ratio of 69.69, a PEG ratio of 0.75 and a beta of 1.45. Broadcom Inc. has a 12 month low of $281.87 and a 12 month high of $495.00. 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 company has a 50-day moving average price of $393.57 and a 200 day moving average price of $369.03.

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, topping the consensus estimate of $2.40 by $0.04. The company had revenue of $22.19 billion for 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 period in the previous year, the firm posted $1.58 earnings per share. As a group, equities research analysts predict that Broadcom Inc. will post 10.24 earnings per share for the current year.

Broadcom Announces Dividend

The business 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 0.6%. The ex-dividend date was Monday, June 22nd. Broadcom’s dividend payout ratio is presently 43.33%.

Analyst Ratings Changes

A number of research firms recently commented on AVGO. Evercore reiterated an “outperform” rating and issued a $582.00 target price on shares of Broadcom in a research report on Tuesday, May 19th. Wall Street Zen cut Broadcom from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 18th. UBS Group set a $485.00 price objective on Broadcom and gave the stock a “buy” rating in a research note on Thursday, June 4th. Benchmark upped their price objective on Broadcom from $485.00 to $545.00 and gave the stock a “buy” rating in a report on Thursday, June 4th. Finally, Weiss Ratings downgraded Broadcom from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, July 30th. Twenty-eight equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $493.24.

Insider Buying and Selling

In other Broadcom news, Director Justine Page sold 1,602 shares of Broadcom 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 transaction, the director directly owned 17,426 shares of the company’s stock, valued at $6,514,884.36. The trade was a 8.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Mark David Brazeal sold 25,000 shares of the business’s stock in a transaction on Friday, July 10th. The shares were 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 $78,254,935.37. This trade represents a 11.36% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 61,644 shares of company stock valued at $24,016,214 in the last three months. Corporate insiders own 1.90% of the company’s stock.

More Broadcom News

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Investors are focusing on Broadcom’s role in Google’s planned roughly $200 billion AI buildout. The company’s custom accelerators, networking products, and infrastructure software could benefit as major cloud providers expand computing capacity. Broadcom and Google’s $200 Billion AI Build Put Its Chip Role in Focus
• Positive Sentiment: Broadcom participated in a sharp risk-on rally across the chip sector, as investors rotated back into AI-related semiconductor shares. The broader industry move provided additional momentum for AVGO beyond company-specific news. Intel Soars, AMD Jumps, Broadcom Rises as Chip Stocks Rally
• Positive Sentiment: The AI investment narrative remains the key catalyst. Broadcom’s second-quarter AI semiconductor revenue reportedly reached $10.8 billion, up 143% year over year, while management reiterated its expectation that AI semiconductor revenue will exceed $100 billion in fiscal 2027. Broadcom Shares Jump as Investors Revisit AI Growth Catalysts
• Positive Sentiment: Analyst support is favorable: Deutsche Bank and UBS issued Buy ratings, and the reported median price target of $525 remains above the stock’s referenced trading level. Broadcom Analyst Ratings and Price Targets
• Neutral Sentiment: Broadcom will report third-quarter fiscal 2026 results after the market closes on September 2. The announcement gives investors a near-term catalyst to assess AI growth, margins, and forward guidance. Broadcom to Announce Third-Quarter Fiscal 2026 Results
• Negative Sentiment: Broadcom lost a court bid to suspend an EU antitrust request for U.S. legal documents connected with VMware, creating potential legal and regulatory uncertainty following the 2023 acquisition. Broadcom Loses Court Bid to Suspend EU Antitrust Request
• Negative Sentiment: Reported insider activity has been heavily weighted toward sales over the past six months, which may temper sentiment despite strong AI fundamentals. Broadcom Insider Trading Activity

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.