Citizens Financial Group Inc. RI Purchases Shares of 317,191 Broadcom Inc. $AVGO

Citizens Financial Group Inc. RI purchased a new position in shares of Broadcom Inc. (NASDAQ:AVGO) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 317,191 shares of the semiconductor manufacturer’s stock, valued at approximately $119,819,000. Broadcom comprises 1.4% of Citizens Financial Group Inc. RI’s holdings, making the stock its 11th largest position.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Vanguard Group Inc. increased its stake in Broadcom by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 482,707,302 shares of the semiconductor manufacturer’s stock valued at $167,064,997,000 after purchasing an additional 3,919,715 shares during the last quarter. State Street Corp lifted its position in shares of Broadcom by 2.7% during the 4th quarter. State Street Corp now owns 190,084,351 shares of the semiconductor manufacturer’s stock worth $65,788,194,000 after buying an additional 5,040,801 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Broadcom by 1.4% in the 4th quarter. Geode Capital Management LLC now owns 111,277,280 shares of the semiconductor manufacturer’s stock valued at $38,396,634,000 after buying an additional 1,548,699 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Broadcom by 3.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 85,546,083 shares of the semiconductor manufacturer’s stock valued at $29,607,500,000 after buying an additional 2,491,644 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Broadcom in the 4th quarter valued at $24,252,196,000. 76.43% of the stock is owned by institutional investors and hedge funds.

Broadcom Stock Performance

NASDAQ AVGO opened at $371.54 on Friday. The company has a current ratio of 2.24, a quick ratio of 2.01 and a debt-to-equity ratio of 0.71. The business’s 50 day moving average is $385.92 and its two-hundred day moving average is $376.31. Broadcom Inc. has a 12-month low of $287.17 and a 12-month high of $495.00. The stock has a market capitalization of $1.77 trillion, a price-to-earnings ratio of 61.92, a PEG ratio of 0.68 and a beta of 1.45.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 EPS for the quarter, beating the consensus estimate of $2.40 by $0.04. Broadcom had a return on equity of 41.61% and a net margin of 38.85%.The business had revenue of $22.19 billion during the quarter, compared to analysts’ expectations of $22.13 billion. During the same period last year, the firm earned $1.58 EPS. The company’s quarterly revenue was up 47.9% compared to the same quarter last year. Research analysts expect that Broadcom Inc. will post 10.24 EPS for the current year.

Broadcom Dividend Announcement

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

Broadcom News Summary

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: OpenAI chip partnership highlights custom-AI opportunity. Broadcom reportedly handled the physical implementation and supplied key technology for OpenAI’s “Jalapeño” inference chip, which OpenAI says can deliver up to 1.9 times more AI work per watt than comparison systems. The project reinforces Broadcom’s role as a leading provider of custom AI silicon and networking infrastructure. OpenAI Built an Nvidia-Beating Inference Chip in Nine Months
• Positive Sentiment: AI semiconductor momentum remains the key growth driver. Analysts point to accelerating demand for Broadcom’s custom XPUs, networking products, and AI data-center infrastructure, although NVIDIA and AMD are increasing competition. Broadcom Rides AI Semiconductor Growth
• Positive Sentiment: Kyndryl alliance supports VMware and private-cloud growth. The partnership expands Broadcom’s VMware Cloud Foundation reach among global enterprises, potentially strengthening recurring software revenue and demand for secure private-cloud modernization. New Kyndryl Partnership Strengthens Private Cloud and AI Growth Strategy
• Positive Sentiment: Brokerage support and institutional buying add confidence. BMO initiated coverage with an Outperform rating and a $455 target, while ARK Investment Management purchased 57,705 AVGO shares across three funds. BMO Starts Broadcom at Outperform With $455 Target
• Neutral Sentiment: NVIDIA’s earnings lifted the broader chip sector. Broadcom traded higher alongside semiconductor stocks, while investors also looked ahead to Broadcom’s next earnings report for evidence that AI demand is translating into sustained revenue and cash-flow growth. Broadcom Stock Making Moves Ahead of Earnings
• Neutral Sentiment: RBC reaffirmed a Sector Perform rating but set a $400 price target, implying moderate upside while signaling that much of the AI optimism may already be reflected in the shares.
• Negative Sentiment: Valuation and AI financing risks remain concerns. After a roughly sevenfold five-year gain, some analysis argues that Broadcom’s valuation depends heavily on continued AI growth. Debt-funded infrastructure spending and reliance on a limited group of major customers could increase downside risk if customer plans or AI investment slow. Broadcom Stock May Trade at a Discount After AI Debt Concerns

Insiders Place Their Bets

In other news, Director Gayla J. Delly sold 1,890 shares of the company’s stock in a transaction on Wednesday, July 8th. The shares were sold at an average price of $385.38, for a total transaction of $728,368.20. Following the transaction, the director directly owned 31,326 shares of the company’s stock, valued at $12,072,413.88. This represents a 5.69% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Mark David Brazeal sold 25,000 shares of the 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 completion of the transaction, the insider owned 194,989 shares of the company’s stock, valued at $78,254,935.37. This represents a 11.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 61,644 shares of company stock worth $24,016,214 in the last ninety days. 1.90% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

AVGO has been the subject of a number of research reports. 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. Truist Financial lifted their target price on Broadcom from $545.00 to $550.00 and gave the stock a “buy” rating in a research report on Thursday, June 4th. Erste Group Bank reissued a “hold” rating on shares of Broadcom in a report on Tuesday, July 7th. BMO Capital Markets assumed coverage on Broadcom in a research report on Thursday, August 20th. They issued an “outperform” rating and a $455.00 target price for the company. Finally, Evercore restated an “outperform” rating and set a $582.00 price target on shares of Broadcom in a research note on Tuesday, May 19th. Twenty-nine equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $491.97.

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.