PNC Financial Services Group Inc. Increases Stock Position in Broadcom Inc. $AVGO

PNC Financial Services Group Inc. lifted its stake in Broadcom Inc. (NASDAQ:AVGO) by 0.2% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,818,752 shares of the semiconductor manufacturer’s stock after acquiring an additional 9,110 shares during the quarter. Broadcom accounts for about 0.9% of PNC Financial Services Group Inc.’s investment portfolio, making the stock its 15th largest holding. PNC Financial Services Group Inc. owned 0.10% of Broadcom worth $1,328,289,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Broadcom by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 477,220,137 shares of the semiconductor manufacturer’s stock valued at $79,900,968,000 after buying an additional 2,085,534 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Broadcom by 37.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 65,509,579 shares of the semiconductor manufacturer’s stock worth $10,968,270,000 after acquiring an additional 17,985,046 shares during the period. Nuveen LLC purchased a new stake in Broadcom during the first quarter valued at $6,649,117,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Broadcom by 2.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 35,243,467 shares of the semiconductor manufacturer’s stock valued at $5,900,814,000 after acquiring an additional 842,088 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in Broadcom by 3.2% in the first quarter. Charles Schwab Investment Management Inc. now owns 33,852,310 shares of the semiconductor manufacturer’s stock worth $5,668,134,000 after purchasing an additional 1,043,948 shares during the last quarter. Institutional investors own 76.43% of the company’s stock.

Broadcom Stock Up 0.7%

Shares of AVGO stock opened at $342.46 on Friday. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.50 and a quick ratio of 1.37. Broadcom Inc. has a one year low of $138.10 and a one year high of $386.48. The company’s fifty day moving average price is $349.09 and its 200-day moving average price is $295.48. The company has a market capitalization of $1.62 trillion, a price-to-earnings ratio of 87.36, a PEG ratio of 1.38 and a beta of 1.19.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.66 by $0.03. The business had revenue of $15.95 billion during the quarter, compared to analyst estimates of $15.82 billion. Broadcom had a return on equity of 36.60% and a net margin of 31.59%.Broadcom’s revenue for the quarter was up 22.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.24 EPS. Broadcom has set its Q4 2025 guidance at EPS. Sell-side analysts expect that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 22nd were given a dividend of $0.59 per share. The ex-dividend date was Monday, September 22nd. This represents a $2.36 annualized dividend and a dividend yield of 0.7%. Broadcom’s dividend payout ratio (DPR) is currently 60.20%.

Insider Activity at Broadcom

In related news, CEO Hock E. Tan sold 100,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 23rd. The stock was sold at an average price of $339.58, for a total value of $33,958,000.00. Following the transaction, the chief executive officer directly owned 725,638 shares of the company’s stock, valued at approximately $246,412,152.04. The trade was a 12.11% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Charlie B. Kawwas sold 3,893 shares of the company’s stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $347.82, for a total value of $1,354,063.26. Following the completion of the transaction, the insider owned 25,295 shares of the company’s stock, valued at $8,798,106.90. The trade was a 13.34% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have purchased 3,550 shares of company stock worth $1,227,869 and have sold 664,471 shares worth $225,218,280. Company insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

AVGO has been the subject of several research reports. UBS Group set a $415.00 price target on shares of Broadcom and gave the company a “buy” rating in a research report on Tuesday, October 14th. Deutsche Bank Aktiengesellschaft set a $400.00 target price on shares of Broadcom and gave the company a “buy” rating in a report on Tuesday, October 14th. Mizuho set a $435.00 price target on shares of Broadcom and gave the stock an “outperform” rating in a research note on Tuesday, October 21st. Bank of America upped their price objective on Broadcom from $300.00 to $400.00 and gave the stock a “buy” rating in a research note on Friday, September 5th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $360.00 target price (up from $325.00) on shares of Broadcom in a report on Friday, September 5th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $372.52.

About Broadcom

Broadcom Inc designs, develops, and supplies various semiconductor devices with a focus on complex digital and mixed signal complementary metal oxide semiconductor based devices and analog III-V based products worldwide. The company operates in two segments, Semiconductor Solutions and Infrastructure Software.