OLD Second National Bank of Aurora Lowers Holdings in Broadcom Inc. $AVGO

OLD Second National Bank of Aurora lowered its position in Broadcom Inc. (NASDAQ:AVGO) by 6.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 50,023 shares of the semiconductor manufacturer’s stock after selling 3,710 shares during the quarter. Broadcom accounts for about 3.6% of OLD Second National Bank of Aurora’s holdings, making the stock its 5th largest position. OLD Second National Bank of Aurora’s holdings in Broadcom were worth $18,896,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. ROSS JOHNSON & Associates LLC boosted its stake in Broadcom by 1,320.0% in the 4th quarter. ROSS JOHNSON & Associates LLC now owns 71 shares of the semiconductor manufacturer’s stock valued at $25,000 after buying an additional 66 shares in the last quarter. SWAN Capital LLC grew its position in Broadcom by 261.9% in the fourth quarter. SWAN Capital LLC now owns 76 shares of the semiconductor manufacturer’s stock valued at $26,000 after acquiring an additional 55 shares during the period. Networth Advisors LLC raised its stake in Broadcom by 546.2% during the first quarter. Networth Advisors LLC now owns 84 shares of the semiconductor manufacturer’s stock worth $26,000 after acquiring an additional 71 shares in the last quarter. Nvest Wealth Strategies Inc. acquired a new position in Broadcom during the fourth quarter worth $33,000. Finally, Family CFO Inc bought a new position in shares of Broadcom during the fourth quarter valued at $35,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Susquehanna restated a “positive” rating and issued a $490.00 target price (up from $450.00) on shares of Broadcom in a research note on Thursday, May 28th. TD Cowen reissued a “buy” rating and set a $500.00 price target on shares of Broadcom in a report on Thursday, June 4th. Morgan Stanley set a $502.00 price target on shares of Broadcom and gave the company an “overweight” rating in a research report on Thursday, June 4th. KeyCorp reaffirmed an “overweight” rating and set a $575.00 price objective (up from $500.00) on shares of Broadcom in a research note on Thursday, June 4th. Finally, Evercore reaffirmed an “outperform” rating and set a $582.00 price objective on shares of Broadcom in a report on Tuesday, May 19th. Twenty-eight research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $493.24.

Insider Activity at Broadcom

In other news, insider Mark David Brazeal sold 25,000 shares of the stock in a transaction that occurred 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 sale, the insider directly owned 194,989 shares of the company’s stock, valued at $78,254,935.37. This represents a 11.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Justine Page sold 1,602 shares of the firm’s stock in a transaction that occurred 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 sale, the director directly owned 17,426 shares of the company’s stock, valued at approximately $6,514,884.36. This represents a 8.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 61,644 shares of company stock valued at $24,016,214 over the last ninety days. Company insiders own 1.90% of the company’s stock.

Broadcom Stock Performance

Shares of NASDAQ:AVGO opened at $393.05 on Monday. The business has a fifty day moving average of $389.79 and a 200-day moving average of $373.64. 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 twelve month low of $281.87 and a twelve month high of $495.00. The firm has a market cap of $1.87 trillion, a PE ratio of 65.51, a price-to-earnings-growth ratio of 0.75 and a beta of 1.45.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.40 by $0.04. Broadcom had a net margin of 38.85% and a return on equity of 41.61%. The business had revenue of $22.19 billion for the quarter, compared to the consensus estimate of $22.13 billion. During the same quarter in the prior year, the company earned $1.58 EPS. The firm’s quarterly revenue was up 47.9% on a year-over-year basis. On average, equities research analysts predict that Broadcom Inc. will post 10.24 EPS for the current fiscal year.

Broadcom Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 22nd were given 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 is presently 43.33%.

Key Broadcom News

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom’s custom-silicon and XPU opportunity remains a key long-term catalyst. Analysts and commentators point to accelerating AI infrastructure spending, major customer agreements, and potential growth in custom chips and networking. Broadcom: XPU Growth Trajectory Underestimated, Stock A Bargain
• Positive Sentiment: Wall Street’s average price target implies substantial upside from recent trading levels, supporting the bullish view that the market may be underestimating Broadcom’s AI growth trajectory. Broadcom is Down Over 3 Months: One Wall Street Pro Sees 60%+ Gains Ahead
• Positive Sentiment: Continued institutional interest, including purchases by GAMCO Investors and Cathie Wood’s reported investment, provides some additional support for the stock’s long-term AI investment case. Cathie Wood buys $16.2 million of Broadcom

About Broadcom

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.