Abundance Wealth Counselors Has $11 Million Position in Broadcom Inc. $AVGO

Key Points

• Abundance Wealth Counselors increased its Broadcom position by 72.9% in the second quarter, holding 29,128 shares valued at approximately $11 million. Institutional investors collectively own 76.43% of Broadcom.
• Broadcom exceeded quarterly expectations with $2.44 in EPS and $22.19 billion in revenue, up 47.9% year over year. The company also declared a quarterly dividend of $0.65 per share, or $2.60 annually.
• Analysts remain broadly bullish, with 28 Buy ratings and an average price target of $493.24, but investors face risks from potential competition by Marvell in custom AI chips, financing concerns and VMware-related issues.

Abundance Wealth Counselors lifted its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 72.9% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 29,128 shares of the semiconductor manufacturer's stock after purchasing an additional 12,280 shares during the quarter. Broadcom accounts for approximately 1.1% of Abundance Wealth Counselors' holdings, making the stock its 9th largest position. Abundance Wealth Counselors' holdings in Broadcom were worth $11,003,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the stock. Brighton Jones LLC lifted its position in shares of Broadcom by 21.8% in the fourth quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer's stock worth $6,882,000 after purchasing an additional 5,322 shares in the last quarter. Revolve Wealth Partners LLC lifted its holdings in shares of Broadcom by 10.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 7,997 shares of the semiconductor manufacturer's stock valued at $1,854,000 after buying an additional 756 shares during the last quarter. United Bank grew its stake in shares of Broadcom by 76.5% in the 1st quarter. United Bank now owns 2,339 shares of the semiconductor manufacturer's stock valued at $392,000 after buying an additional 1,014 shares in the last quarter. Sivia Capital Partners LLC grew its stake in shares of 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 buying an additional 1,160 shares in the last quarter. Finally, Capital & Planning LLC increased its holdings in Broadcom by 10.5% in the second quarter. Capital & Planning LLC now owns 3,983 shares of the semiconductor manufacturer's stock worth $1,098,000 after buying an additional 378 shares during the last quarter. Institutional investors and hedge funds own 76.43% of the company's stock.

Broadcom Price Performance

Shares of NASDAQ:AVGO opened at $362.48 on Thursday. The firm has a market capitalization of $1.72 trillion, a PE ratio of 60.41, a PEG ratio of 0.73 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 1-year low of $281.87 and a 1-year high of $495.00. The business's 50 day moving average is $389.27 and its 200-day moving average is $374.61.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its earnings results 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 during the quarter, compared to analysts' expectations of $22.13 billion. During the same period last year, the business earned $1.58 earnings per share. Broadcom's quarterly revenue was up 47.9% compared to the same quarter last year. Sell-side analysts predict that Broadcom Inc. will post 10.24 earnings per share for the current year.

Broadcom Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Mizuho raised their price objective on shares of Broadcom from $480.00 to $530.00 and gave the company an "outperform" rating in a research report on Thursday, June 4th. The Goldman Sachs Group reissued a "buy" rating on shares of Broadcom in a research note on Monday, August 3rd. Citigroup restated a "buy" rating on shares of Broadcom in a report on Thursday, June 4th. KeyCorp reissued an "overweight" rating and set a $575.00 price objective (up from $500.00) on shares of Broadcom in a research report on Thursday, June 4th. Finally, Morgan Stanley set a $502.00 price objective on Broadcom and gave the company an "overweight" rating in a research report on Thursday, June 4th. Twenty-eight research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, Broadcom has an average rating of "Moderate Buy" and an average target price of $493.24.

Key Headlines Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom’s custom AI accelerator and networking businesses remain major growth drivers. The company recently reported 47.9% year-over-year revenue growth and exceeded quarterly EPS and revenue expectations, while one analysis argues its combination of custom chips and data-center networking gives it durable AI exposure. Broadcom AI infrastructure analysis
• Positive Sentiment: TD Cowen reiterated a Buy rating and maintained a $500 price target, indicating that at least one major analyst views the recent weakness as an opportunity rather than a deterioration in Broadcom’s long-term outlook. TD Cowen Broadcom price target
• Positive Sentiment: Broader AI spending trends remain favorable for chip and infrastructure suppliers, including Broadcom, as companies increase investment in compute and connectivity. Anthropic’s reported growth and its infrastructure relationships also highlight potential demand for Broadcom custom silicon. Anthropic pre-IPO and Broadcom infrastructure
• Neutral Sentiment: Broadcom is scheduled to pay its regular quarterly dividend of $0.65 per share on September 30, providing income support but little immediate catalyst for the stock. Broadcom dividend announcement
• Negative Sentiment: Marvell Technology announced an agreement to help Google develop custom AI chips and received a potential $12.2 billion Google-linked warrant or equity option. Because Broadcom has been viewed as Google’s leading custom-chip partner, the deal raised concerns that Marvell could take share or weaken Broadcom’s negotiating position. Marvell Google custom AI chip deal
• Negative Sentiment: Investors remain concerned about financing conditions for AI infrastructure spending, Broadcom’s leverage and VMware-related issues, including a reported vCenter Syslog Server vulnerability. Comparisons with NVIDIA and Astera Labs also emphasize Broadcom’s higher perceived financial risk or less attractive growth profile. Broadcom VMware and financing concerns

Insider Buying and Selling

In related news, Director Justine Page sold 1,602 shares of the stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $373.86, for a total transaction of $598,923.72. Following the sale, the director directly owned 17,426 shares in the company, valued at $6,514,884.36. This represents a 8.42% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gayla J. Delly sold 1,890 shares of the firm's stock in a transaction on Wednesday, July 8th. The shares were sold at an average price of $385.38, for a total value 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. This represents a 5.69% 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 ninety days. Company insiders own 1.90% of the company's stock.

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.

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