Canandaigua National Bank & Trust Co. Acquires New Holdings in Broadcom Inc. $AVGO

Canandaigua National Bank & Trust Co. bought a new position in Broadcom Inc. (NASDAQ:AVGO) in the second quarter, according to the company in its most recent disclosure with the SEC. The fund bought 9,057 shares of the semiconductor manufacturer’s stock, valued at approximately $3,421,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. ROSS JOHNSON & Associates LLC grew its holdings in shares of Broadcom by 1,320.0% in the fourth quarter. ROSS JOHNSON & Associates LLC now owns 71 shares of the semiconductor manufacturer’s stock worth $25,000 after acquiring an additional 66 shares during the period. Networth Advisors LLC lifted its holdings in Broadcom by 546.2% in the first quarter. Networth Advisors LLC now owns 84 shares of the semiconductor manufacturer’s stock valued at $26,000 after acquiring an additional 71 shares during the period. SWAN Capital LLC lifted its holdings in Broadcom by 261.9% in the fourth quarter. SWAN Capital LLC now owns 76 shares of the semiconductor manufacturer’s stock valued at $26,000 after acquiring an additional 55 shares during the period. Nvest Wealth Strategies Inc. purchased a new position in Broadcom in the fourth quarter worth about $33,000. Finally, Family CFO Inc purchased a new position in Broadcom in the fourth quarter worth about $35,000. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Broadcom News Summary

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Investors are focusing on Broadcom’s role in Google’s planned roughly $200 billion AI buildout. The company’s custom accelerators, networking products, and infrastructure software could benefit as major cloud providers expand computing capacity. Broadcom and Google’s $200 Billion AI Build Put Its Chip Role in Focus
• Positive Sentiment: Broadcom participated in a sharp risk-on rally across the chip sector, as investors rotated back into AI-related semiconductor shares. The broader industry move provided additional momentum for AVGO beyond company-specific news. Intel Soars, AMD Jumps, Broadcom Rises as Chip Stocks Rally
• Positive Sentiment: The AI investment narrative remains the key catalyst. Broadcom’s second-quarter AI semiconductor revenue reportedly reached $10.8 billion, up 143% year over year, while management reiterated its expectation that AI semiconductor revenue will exceed $100 billion in fiscal 2027. Broadcom Shares Jump as Investors Revisit AI Growth Catalysts
• Positive Sentiment: Analyst support is favorable: Deutsche Bank and UBS issued Buy ratings, and the reported median price target of $525 remains above the stock’s referenced trading level. Broadcom Analyst Ratings and Price Targets
• Neutral Sentiment: Broadcom will report third-quarter fiscal 2026 results after the market closes on September 2. The announcement gives investors a near-term catalyst to assess AI growth, margins, and forward guidance. Broadcom to Announce Third-Quarter Fiscal 2026 Results
• Negative Sentiment: Broadcom lost a court bid to suspend an EU antitrust request for U.S. legal documents connected with VMware, creating potential legal and regulatory uncertainty following the 2023 acquisition. Broadcom Loses Court Bid to Suspend EU Antitrust Request
• Negative Sentiment: Reported insider activity has been heavily weighted toward sales over the past six months, which may temper sentiment despite strong AI fundamentals. Broadcom Insider Trading Activity

Insider Activity

In other news, Director Harry L. You acquired 1,000 shares of Broadcom stock in a transaction dated Thursday, June 11th. The stock was purchased at an average cost of $373.57 per share, with a total value of $373,570.00. Following the completion of the purchase, the director directly owned 38,466 shares in the company, valued at approximately $14,369,743.62. This trade represents a 2.67% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Mark David Brazeal sold 25,000 shares of Broadcom stock in a transaction on 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 transaction, the insider owned 194,989 shares in the company, valued at approximately $78,254,935.37. This trade represents a 11.36% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 61,644 shares of company stock worth $24,016,214 in the last quarter. 1.90% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on AVGO. Royal Bank Of Canada boosted their price target on Broadcom from $360.00 to $400.00 and gave the company a “sector perform” rating in a research note on Thursday, June 4th. Rosenblatt Securities reiterated a “buy” rating and issued a $500.00 price objective on shares of Broadcom in a research note on Thursday, June 4th. Mizuho raised their price objective on shares of Broadcom from $480.00 to $530.00 and gave the stock an “outperform” rating in a report on Thursday, June 4th. Bank of America boosted their target price on shares of Broadcom from $450.00 to $530.00 and gave the company a “buy” rating in a research report on Thursday, June 4th. Finally, Susquehanna reaffirmed a “positive” rating and set a $490.00 target price (up from $450.00) on shares of Broadcom in a report on Thursday, May 28th. Twenty-eight equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $493.24.

Broadcom Stock Performance

NASDAQ:AVGO opened at $418.16 on Wednesday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.01 and a current ratio of 2.24. The stock has a 50-day simple moving average of $393.57 and a two-hundred day simple moving average of $369.03. The firm has a market capitalization of $1.99 trillion, a PE ratio of 69.69, a P/E/G ratio of 0.75 and a beta of 1.45. Broadcom Inc. has a 52-week low of $281.87 and a 52-week high of $495.00.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 EPS for the quarter, topping 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 firm had revenue of $22.19 billion for the quarter, compared to the consensus estimate of $22.13 billion. During the same quarter last year, the company earned $1.58 earnings per share. The business’s revenue for the quarter was up 47.9% compared to the same quarter last year. Analysts forecast that Broadcom Inc. will post 10.24 EPS for the current year.

Broadcom Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 22nd were issued a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend was Monday, June 22nd. Broadcom’s dividend payout ratio is currently 43.33%.

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.