PNC Financial Services Group Inc. Has $1.62 Billion Stock Holdings in Broadcom Inc. $AVGO

PNC Financial Services Group Inc. lowered its stake in Broadcom Inc. (NASDAQ:AVGO) by 2.3% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,682,560 shares of the semiconductor manufacturer’s stock after selling 111,510 shares during the quarter. Broadcom accounts for approximately 0.9% of PNC Financial Services Group Inc.’s portfolio, making the stock its 10th largest position. PNC Financial Services Group Inc.’s holdings in Broadcom were worth $1,620,634,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. Providence First Trust Co grew its position in Broadcom by 1,099.3% in the 3rd quarter. Providence First Trust Co now owns 8,923 shares of the semiconductor manufacturer’s stock valued at $2,944,000 after purchasing an additional 8,179 shares during the period. Whittier Trust Co. of Nevada Inc. grew its position in Broadcom by 3.4% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 323,587 shares of the semiconductor manufacturer’s stock valued at $109,492,000 after purchasing an additional 10,786 shares during the period. Brown Brothers Harriman & Co. grew its position in Broadcom by 10.7% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 77,411 shares of the semiconductor manufacturer’s stock valued at $25,539,000 after purchasing an additional 7,499 shares during the period. Dana Investment Advisors Inc. grew its position in Broadcom by 2.6% in the 3rd quarter. Dana Investment Advisors Inc. now owns 173,759 shares of the semiconductor manufacturer’s stock valued at $57,325,000 after purchasing an additional 4,442 shares during the period. Finally, Guinness Atkinson Asset Management Inc grew its position in Broadcom by 248.2% in the 3rd quarter. Guinness Atkinson Asset Management Inc now owns 26,238 shares of the semiconductor manufacturer’s stock valued at $8,603,000 after purchasing an additional 18,703 shares during the period. Institutional investors own 76.43% of the company’s stock.

Insiders Place Their Bets

In other Broadcom news, Director Gayla J. Delly sold 1,000 shares of Broadcom stock in a transaction dated Thursday, April 9th. The shares were sold at an average price of $358.31, for a total value of $358,310.00. Following the sale, the director owned 32,352 shares of the company’s stock, valued at approximately $11,592,045.12. The trade was a 3.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Justine Page sold 2,018 shares of Broadcom stock in a transaction dated Wednesday, April 8th. The stock was sold at an average price of $353.00, for a total transaction of $712,354.00. Following the completion of the sale, the director directly owned 18,164 shares in the company, valued at approximately $6,411,892. This represents a 10.00% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 324,282 shares of company stock valued at $106,425,249. Company insiders own 1.90% of the company’s stock.

Key Stories Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom’s AI semiconductor business is showing rapid growth, with AI revenue more than doubling and stronger Q2 expectations tied to hyperscale demand. Broadcom Rides on Accelerating Semiconductor Revenues: What’s Ahead?
• Positive Sentiment: Analysts continue to highlight Broadcom as one of Goldman Sachs’ strongest AI infrastructure bets, reinforcing optimism around its role in AI chips and networking. Why Broadcom (AVGO) Remains One of Goldman’s Strongest AI Infrastructure Bets
• Positive Sentiment: Broadcom is expanding its AI ecosystem through a $125 million research and talent hub with Meta and UCLA, plus packaging work with Applied Materials, which could support long-term growth. Broadcom’s AI Research Push Links Chip Packaging Advances To Growth Story
• Positive Sentiment: Several articles and analyst notes point to strong long-term upside, with Broadcom repeatedly described as a durable AI winner and a solid growth stock. Is Broadcom Inc. (AVGO) a Solid Growth Stock? 3 Reasons to Think “Yes”
• Neutral Sentiment: Commentary about Broadcom’s stock price in 2030 reflects bullish long-term AI expectations, but it does not appear to be a near-term catalyst. This Will be Broadcom’s Stock Price In 2030
• Neutral Sentiment: Broader market commentary and inflation worries have also been mentioned, but these articles do not identify a Broadcom-specific problem. Inflation Fears Weighed on Broadcom (AVGO) in Q1
• Negative Sentiment: One recent note says Broadcom remains “overcrowded,” suggesting valuation or positioning risk after a strong rally. Broadcom Is Far Too Overcrowded
• Negative Sentiment: Broadcom has also faced some regulatory scrutiny in the EU, which could create headline risk even as AI sentiment stays positive. Broadcom Inc. (AVGO) Challenges EU Regulators While Barclays Sees AI Upside

Analyst Ratings Changes

AVGO has been the subject of several research reports. Wolfe Research raised shares of Broadcom from a “peer perform” rating to an “outperform” rating and set a $400.00 price target for the company in a research report on Friday, January 30th. Mizuho reissued an “outperform” rating and issued a $480.00 price target on shares of Broadcom in a research report on Thursday, April 16th. UBS Group reissued a “buy” rating and issued a $490.00 price target (up from $475.00) on shares of Broadcom in a research report on Monday, May 18th. JPMorgan Chase & Co. lifted their price target on shares of Broadcom from $475.00 to $500.00 and gave the company an “overweight” rating in a research report on Thursday, March 5th. Finally, Seaport Research Partners reissued a “neutral” rating on shares of Broadcom in a research report on Wednesday, April 8th. One research analyst has rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $448.10.

Broadcom Stock Performance

Shares of AVGO stock opened at $414.14 on Monday. The firm has a market cap of $1.96 trillion, a price-to-earnings ratio of 80.89, a P/E/G ratio of 0.86 and a beta of 1.43. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.73 and a current ratio of 1.90. Broadcom Inc. has a 52 week low of $226.18 and a 52 week high of $442.36. The firm’s 50-day simple moving average is $373.30 and its two-hundred day simple moving average is $356.05.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 EPS for the quarter, topping the consensus estimate of $2.03 by $0.02. The business had revenue of $19.31 billion for the quarter, compared to analyst estimates of $19.10 billion. Broadcom had a net margin of 36.57% and a return on equity of 38.61%. The company’s revenue for the quarter was up 29.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.60 earnings per share. As a group, equities analysts forecast that Broadcom Inc. will post 9.91 earnings per share for the current year.

Broadcom Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Monday, March 23rd were given a $0.65 dividend. The ex-dividend date of this dividend was Monday, March 23rd. This represents a $2.60 annualized dividend and a yield of 0.6%. Broadcom’s payout ratio is currently 50.78%.

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.