Fifth Third Bancorp Buys 978,805 Shares of Broadcom Inc. $AVGO

Fifth Third Bancorp lifted its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 35.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,732,367 shares of the semiconductor manufacturer’s stock after purchasing an additional 978,805 shares during the quarter. Broadcom comprises approximately 2.1% of Fifth Third Bancorp’s portfolio, making the stock its 8th biggest position. Fifth Third Bancorp’s holdings in Broadcom were worth $1,155,205,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in AVGO. Brighton Jones LLC lifted its holdings in Broadcom by 21.8% in the fourth quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer’s stock valued at $6,882,000 after acquiring an additional 5,322 shares during the period. Revolve Wealth Partners LLC grew its position in shares of Broadcom by 10.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 7,997 shares of the semiconductor manufacturer’s stock valued at $1,854,000 after purchasing an additional 756 shares during the last quarter. United Bank raised its holdings in shares of Broadcom by 76.5% in the first quarter. United Bank now owns 2,339 shares of the semiconductor manufacturer’s stock worth $392,000 after acquiring an additional 1,014 shares during the last quarter. Sivia Capital Partners LLC raised its stake in Broadcom by 10.1% in the 2nd quarter. Sivia Capital Partners LLC now owns 12,693 shares of the semiconductor manufacturer’s stock valued at $3,499,000 after purchasing an additional 1,160 shares during the last quarter. Finally, Capital & Planning LLC lifted its stake in shares of Broadcom by 10.5% during the second quarter. Capital & Planning LLC now owns 3,983 shares of the semiconductor manufacturer’s stock valued at $1,098,000 after buying an additional 378 shares during the period. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom Stock Performance

Shares of NASDAQ AVGO opened at $389.11 on Wednesday. The company has a market cap of $1.85 trillion, a PE ratio of 64.85, a P/E/G ratio of 0.67 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 $273.00 and a 12-month high of $495.00. The stock has a 50 day simple moving average of $403.86 and a 200-day simple moving average of $364.80.

Broadcom (NASDAQ:AVGO) last posted 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 business had revenue of $22.19 billion during the quarter, compared to the consensus estimate of $22.13 billion. Broadcom had a net margin of 38.85% and a return on equity of 41.61%. The company’s quarterly revenue was up 47.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.58 earnings per share. On average, equities research analysts forecast that Broadcom Inc. will post 10.24 EPS for the current year.

Broadcom Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 22nd were paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Monday, June 22nd. Broadcom’s payout ratio is currently 43.33%.

Insider Buying and Selling at Broadcom

In other news, Director Gayla J. Delly sold 1,890 shares of the business’s stock in a transaction on 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 of the company’s stock, valued at $12,072,413.88. The trade was a 5.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Mark David Brazeal sold 25,000 shares of the company’s stock in a transaction dated 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 disclosure for this sale is available in the SEC filing. Insiders sold a total of 61,644 shares of company stock valued at $24,016,214 over the last 90 days. Insiders own 1.90% of the company’s stock.

More Broadcom News

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Evercore ISI said Broadcom’s multiyear agreement with Apple is strategically positive, as it strengthens Apple’s AI compute silicon efforts and extends Broadcom’s role as a key custom-chip partner. Broadcom Inc. (AVGO) Agreement a Strategic Positive for Apple, says Evercore ISI
• Positive Sentiment: Reports say Broadcom secured its role as a key Apple supplier through 2031, giving investors more confidence in a long-duration revenue stream. Broadcom Inc. (AVGO) Secures Role as Key Apple Supplier with Chip Deal through 2031
• Positive Sentiment: Morgan Stanley described Broadcom as a “core AI winner,” keeping the stock in focus as one of the main beneficiaries of AI infrastructure spending. Broadcom is a ‘core AI winner,’ even as MediaTek encroaches, Morgan Stanley says
• Neutral Sentiment: Additional commentary highlighted Broadcom as a major AI stock and a possible outperformer versus other chip names, which adds to the bullish narrative but does not change the near-term business outlook directly. Is Broadcom Inc. (AVGO) a Buy as Wall Street Analysts Look Optimistic?
• Negative Sentiment: There was also an insider-selling headline, which can weigh on sentiment even if it does not necessarily reflect a change in the company’s fundamentals. Insider Selling: Broadcom (NASDAQ:AVGO) Insider Sells $9,479,750.00 in Stock

Wall Street Analyst Weigh In

A number of analysts have issued reports on AVGO shares. Mizuho raised their price target on Broadcom from $480.00 to $530.00 and gave the stock an “outperform” rating in a research note on Thursday, June 4th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $515.00 target price (up from $430.00) on shares of Broadcom in a research report on Thursday, June 4th. Morgan Stanley set a $502.00 price target on shares of Broadcom and gave the stock an “overweight” rating in a research note on Thursday, June 4th. Susquehanna reiterated a “positive” rating and set a $490.00 target price (up from $450.00) on shares of Broadcom in a research note on Thursday, May 28th. Finally, Erste Group Bank reiterated a “hold” rating on shares of Broadcom in a research note on Tuesday, July 7th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $493.24.

Broadcom Company 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.