MidFirst Bank bought a new position in shares of Broadcom Inc. (NASDAQ:AVGO – Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 56,370 shares of the semiconductor manufacturer’s stock, valued at approximately $21,294,000. Broadcom makes up 1.5% of MidFirst Bank’s holdings, making the stock its 14th biggest position.
Several other institutional investors and hedge funds have also recently modified their holdings of the business. Bank of America Corp DE increased its position in shares of Broadcom by 1.5% during the 1st quarter. Bank of America Corp DE now owns 58,737,097 shares of the semiconductor manufacturer’s stock valued at $18,179,719,000 after purchasing an additional 894,564 shares during the last quarter. Bartlett & CO. Wealth Management LLC boosted its stake in Broadcom by 129.3% in the first quarter. Bartlett & CO. Wealth Management LLC now owns 110,048 shares of the semiconductor manufacturer’s stock worth $34,061,000 after buying an additional 62,050 shares in the last quarter. First Bank & Trust raised its stake in shares of Broadcom by 17.2% during the second quarter. First Bank & Trust now owns 10,503 shares of the semiconductor manufacturer’s stock worth $3,968,000 after acquiring an additional 1,545 shares in the last quarter. Fifth Lane Capital LP lifted its holdings in shares of Broadcom by 77.8% in the 4th quarter. Fifth Lane Capital LP now owns 4,000 shares of the semiconductor manufacturer’s stock worth $1,384,000 after acquiring an additional 1,750 shares during the last quarter. Finally, Wealthcare Capital Partners LLC boosted its stake in shares of Broadcom by 36.4% in the 2nd quarter. Wealthcare Capital Partners LLC now owns 4,407 shares of the semiconductor manufacturer’s stock valued at $1,665,000 after purchasing an additional 1,176 shares in the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.
Broadcom Trading Up 4.5%
NASDAQ:AVGO opened at $371.54 on Friday. The company has a 50-day moving average price of $385.92 and a 200-day moving average price of $376.31. The stock has a market cap of $1.77 trillion, a price-to-earnings ratio of 61.92, a P/E/G ratio of 0.68 and a beta of 1.45. 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 12 month low of $287.17 and a 12 month high of $495.00.
Broadcom Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 22nd were issued a $0.65 dividend. The ex-dividend date was Monday, June 22nd. This represents a $2.60 dividend on an annualized basis and a yield of 0.7%. Broadcom’s dividend payout ratio is 43.33%.
Wall Street Analyst Weigh In
A number of equities research analysts have recently weighed in on the company. Jefferies Financial Group set a $550.00 target price on Broadcom and gave the company a “buy” rating in a research note on Thursday, June 4th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $525.00 price objective on shares of Broadcom in a research report on Thursday, June 4th. Weiss Ratings lowered Broadcom from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, July 30th. KeyCorp reaffirmed an “overweight” rating and issued a $575.00 target price (up from $500.00) on shares of Broadcom in a research note on Thursday, June 4th. Finally, Oppenheimer reiterated an “outperform” rating and set a $535.00 price target (up from $450.00) on shares of Broadcom in a report on Thursday, June 4th. Twenty-nine analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $491.97.
View Our Latest Report on AVGO
Trending Headlines about Broadcom
Here are the key news stories impacting Broadcom this week:
- Positive Sentiment: OpenAI chip partnership highlights custom-AI opportunity. Broadcom reportedly handled the physical implementation and supplied key technology for OpenAI’s “Jalapeño” inference chip, which OpenAI says can deliver up to 1.9 times more AI work per watt than comparison systems. The project reinforces Broadcom’s role as a leading provider of custom AI silicon and networking infrastructure. OpenAI Built an Nvidia-Beating Inference Chip in Nine Months
- Positive Sentiment: AI semiconductor momentum remains the key growth driver. Analysts point to accelerating demand for Broadcom’s custom XPUs, networking products, and AI data-center infrastructure, although NVIDIA and AMD are increasing competition. Broadcom Rides AI Semiconductor Growth
- Positive Sentiment: Kyndryl alliance supports VMware and private-cloud growth. The partnership expands Broadcom’s VMware Cloud Foundation reach among global enterprises, potentially strengthening recurring software revenue and demand for secure private-cloud modernization. New Kyndryl Partnership Strengthens Private Cloud and AI Growth Strategy
- Positive Sentiment: Brokerage support and institutional buying add confidence. BMO initiated coverage with an Outperform rating and a $455 target, while ARK Investment Management purchased 57,705 AVGO shares across three funds. BMO Starts Broadcom at Outperform With $455 Target
- Neutral Sentiment: NVIDIA’s earnings lifted the broader chip sector. Broadcom traded higher alongside semiconductor stocks, while investors also looked ahead to Broadcom’s next earnings report for evidence that AI demand is translating into sustained revenue and cash-flow growth. Broadcom Stock Making Moves Ahead of Earnings
- Neutral Sentiment: RBC reaffirmed a Sector Perform rating but set a $400 price target, implying moderate upside while signaling that much of the AI optimism may already be reflected in the shares.
- Negative Sentiment: Valuation and AI financing risks remain concerns. After a roughly sevenfold five-year gain, some analysis argues that Broadcom’s valuation depends heavily on continued AI growth. Debt-funded infrastructure spending and reliance on a limited group of major customers could increase downside risk if customer plans or AI investment slow. Broadcom Stock May Trade at a Discount After AI Debt Concerns
Insider Transactions at Broadcom
In related news, Director Justine Page sold 1,602 shares of the stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $373.86, for a total value of $598,923.72. Following the completion of the transaction, the director directly owned 17,426 shares in the company, valued at $6,514,884.36. This trade represents a 8.42% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gayla J. Delly sold 1,890 shares of the business’s stock in a transaction dated 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 directly owned 31,326 shares in the company, valued at $12,072,413.88. The trade was a 5.69% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 61,644 shares of company stock worth $24,016,214. Corporate insiders own 1.90% of the company’s stock.
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.
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