Broadcom Inc. $AVGO Holdings Boosted by Summit Wealth Partners LLC

Key Points

• Summit Wealth Partners LLC increased its Broadcom stake by 52.8% in the first quarter, ending with 7,007 shares valued at about $2.17 million.
• Broadcom reported stronger-than-expected quarterly results, with EPS of $2.44 versus $2.40 estimated and revenue of $22.19 billion, up 47.9% year over year.
• Analysts remain broadly positive on the stock, with multiple firms raising targets and Broadcom holding a Moderate Buy consensus and average price target of $493.24.

Summit Wealth Partners LLC raised its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 52.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,007 shares of the semiconductor manufacturer's stock after purchasing an additional 2,422 shares during the quarter. Summit Wealth Partners LLC's holdings in Broadcom were worth $2,169,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Norges Bank acquired a new position in Broadcom during the fourth quarter valued at $24,252,196,000. Cardano Risk Management B.V. boosted its position in Broadcom by 895.2% during the 4th quarter. Cardano Risk Management B.V. now owns 12,689,800 shares of the semiconductor manufacturer's stock worth $4,391,940,000 after acquiring an additional 11,414,701 shares during the period. State Street Corp boosted its position in 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 acquiring an additional 5,040,801 shares during the period. Arrowstreet Capital Limited Partnership grew its stake in Broadcom by 499.4% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 5,634,232 shares of the semiconductor manufacturer's stock valued at $1,858,789,000 after acquiring an additional 4,694,313 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in Broadcom by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 482,707,302 shares of the semiconductor manufacturer's stock valued at $167,064,997,000 after acquiring an additional 3,919,715 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company's stock.

Broadcom Stock Up 0.3%

Shares of Broadcom stock opened at $381.30 on Thursday. The firm has a market cap of $1.81 trillion, a price-to-earnings ratio of 63.55, a P/E/G ratio of 0.67 and a beta of 1.41. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.24 and a quick ratio of 2.01. Broadcom Inc. has a 52-week low of $262.66 and a 52-week high of $495.00. The stock has a 50-day simple moving average of $412.37 and a 200-day simple moving average of $363.42.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced 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. The business had revenue of $22.19 billion during the quarter, compared to analysts' expectations of $22.13 billion. Broadcom had a return on equity of 41.61% and a net margin of 38.85%.The firm's quarterly revenue was up 47.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.58 EPS. On average, equities research analysts expect that Broadcom Inc. will post 10.24 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 22nd will be paid a dividend of $0.65 per share. The ex-dividend date is Monday, June 22nd. This represents a $2.60 annualized dividend and a dividend yield of 0.7%. Broadcom's dividend payout ratio is 43.33%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on AVGO shares. TD Cowen reissued a "buy" rating and issued a $500.00 price target on shares of Broadcom in a research report on Thursday, June 4th. Erste Group Bank raised shares of Broadcom from a "hold" rating to a "buy" rating in a research report on Friday, June 5th. Susquehanna reiterated a "positive" rating and issued a $490.00 price objective (up from $450.00) on shares of Broadcom in a research note on Thursday, May 28th. Seaport Research Partners reiterated a "neutral" rating on shares of Broadcom in a research report on Wednesday, April 8th. Finally, Oppenheimer reissued an "outperform" rating and set a $535.00 target price (up from $450.00) on shares of Broadcom in a research note on Thursday, June 4th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $493.24.

Key Stories Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom and OpenAI unveiled Jalapeño, a custom AI inference chip that could expand Broadcom’s role in AI infrastructure and deepen its long-term partnership with OpenAI. Reuters: OpenAI unveils custom chip it designed with Broadcom to boost its AI infrastructure
• Positive Sentiment: Early testing suggests the new chip delivers better performance per watt, which supports Broadcom’s AI efficiency story and could improve adoption with hyperscale data-center customers. GlobeNewswire: OpenAI and Broadcom Unveil LLM-Optimized Intelligence Processor
• Neutral Sentiment: Broadcom raised its tender offer for senior notes to $3 billion, a financing move that may affect investor views on leverage and capital allocation more than near-term earnings. MSN: Broadcom raises tender offer for its senior notes to $3 billion
• Neutral Sentiment: Commentary around AI-chip sector volatility and whether the AI trade is cooling adds mixed context, but does not change Broadcom’s core AI growth narrative. Benzinga: Broadcom, OpenAI Unveil ‘Jalapeño’ AI Inference Chip
• Negative Sentiment: Some prior reports noted weakness in the broader semiconductor complex and concerns about AI infrastructure spending, which could limit upside if the sector selloff continues. Yahoo Finance: Broadcom (AVGO) Stock Trades Down, Here Is Why

Insider Buying and Selling at Broadcom

In other news, insider Mark David Brazeal sold 4,825 shares of the firm's stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $394.91, for a total transaction of $1,905,440.75. Following the transaction, the insider owned 269,989 shares in the company, valued at approximately $106,621,355.99. This trade represents a 1.76% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Harry L. You acquired 1,000 shares of Broadcom stock in a transaction that occurred on Thursday, June 11th. The stock was acquired at an average cost of $373.57 per share, with a total value of $373,570.00. Following the purchase, the director owned 38,466 shares in the company, valued at $14,369,743.62. The trade was a 2.67% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have sold 59,385 shares of company stock worth $21,301,057 in the last ninety days. Company insiders own 1.90% of the company's stock.

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.

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