Chevy Chase Trust Holdings LLC Grows Holdings in Broadcom Inc. $AVGO

Chevy Chase Trust Holdings LLC increased its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 1.5% during the 2nd quarter, Holdings Channel reports. The fund owned 2,776,951 shares of the semiconductor manufacturer’s stock after buying an additional 39,709 shares during the quarter. Broadcom accounts for about 2.2% of Chevy Chase Trust Holdings LLC’s investment portfolio, making the stock its 6th biggest holding. Chevy Chase Trust Holdings LLC’s holdings in Broadcom were worth $765,467,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of AVGO. Nuveen LLC bought a new position in Broadcom during the 1st quarter worth approximately $6,649,117,000. Price T Rowe Associates Inc. MD boosted its stake in Broadcom by 37.8% during the 1st 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 last quarter. Goldman Sachs Group Inc. lifted its stake in Broadcom by 16.7% in the first quarter. Goldman Sachs Group Inc. now owns 31,854,414 shares of the semiconductor manufacturer’s stock valued at $5,333,384,000 after buying an additional 4,550,647 shares in the last quarter. Deutsche Bank AG lifted its stake in Broadcom by 36.9% in the first quarter. Deutsche Bank AG now owns 15,758,895 shares of the semiconductor manufacturer’s stock valued at $2,638,512,000 after buying an additional 4,245,345 shares in the last quarter. Finally, Alliancebernstein L.P. lifted its stake in Broadcom by 16.0% in the first quarter. Alliancebernstein L.P. now owns 29,513,814 shares of the semiconductor manufacturer’s stock valued at $4,941,498,000 after buying an additional 4,077,910 shares in the last quarter. Institutional investors own 76.43% of the company’s stock.

Insider Buying and Selling at Broadcom

In related news, Director Henry Samueli sold 368,797 shares of the business’s stock in a transaction on Wednesday, September 24th. The shares were sold at an average price of $337.91, for a total transaction of $124,620,194.27. Following the transaction, the director directly owned 37,722,534 shares in the company, valued at approximately $12,746,821,463.94. The trade was a 0.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Mark David Brazeal sold 16,558 shares of the business’s stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $347.61, for a total transaction of $5,755,726.38. Following the transaction, the insider owned 329,302 shares in the company, valued at approximately $114,468,668.22. The trade was a 4.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders acquired 3,550 shares of company stock valued at $1,227,869 and sold 665,271 shares valued at $225,464,248. Corporate insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on AVGO. Citigroup reaffirmed a “buy” rating and issued a $415.00 price target (up previously from $350.00) on shares of Broadcom in a research note on Tuesday, October 14th. Sanford C. Bernstein lifted their price target on shares of Broadcom from $295.00 to $400.00 and gave the company an “outperform” rating in a research note on Friday, September 5th. Mizuho set a $435.00 price target on shares of Broadcom and gave the company an “outperform” rating in a research note on Tuesday. Evercore ISI lifted their price target on shares of Broadcom from $342.00 to $403.00 and gave the company an “outperform” rating in a research note on Wednesday, October 15th. Finally, Truist Financial lifted their price target on shares of Broadcom from $295.00 to $365.00 and gave the company a “buy” rating in a research note on Friday, September 5th. Three analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $372.52.

Broadcom Price Performance

NASDAQ AVGO opened at $344.29 on Friday. The company has a market capitalization of $1.63 trillion, a PE ratio of 87.83, a price-to-earnings-growth ratio of 1.92 and a beta of 1.20. Broadcom Inc. has a 12-month low of $138.10 and a 12-month high of $374.23. The firm’s 50 day moving average is $330.52 and its 200-day moving average is $273.74. The company has a quick ratio of 1.37, a current ratio of 1.50 and a debt-to-equity ratio of 0.86.

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

Broadcom Dividend Announcement

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

Broadcom Company Profile

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.