Broadcom Inc. $AVGO Holdings Raised by Patriot Financial Group Insurance Agency LLC

Key Points

• Patriot Financial Group boosted its Broadcom stake by 79.7% in the first quarter, buying 15,538 additional shares and lifting its position to 35,024 shares worth about $10.84 million.
• Analysts remained broadly bullish on Broadcom, with UBS, Jefferies, Cantor Fitzgerald, and Mizuho reiterating or raising positive ratings and price targets, citing strong AI ASIC demand and Broadcom’s role in custom AI silicon.
• Broadcom reported solid quarterly results, beating EPS and revenue estimates and posting 47.9% year-over-year revenue growth; the company also paid a quarterly dividend of $0.65 per share.

Patriot Financial Group Insurance Agency LLC grew its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 79.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 35,024 shares of the semiconductor manufacturer's stock after buying an additional 15,538 shares during the quarter. Patriot Financial Group Insurance Agency LLC's holdings in Broadcom were worth $10,840,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently bought and sold shares of the business. Chemung Canal Trust Co. grew its stake in Broadcom by 1.3% in the 1st quarter. Chemung Canal Trust Co. now owns 8,409 shares of the semiconductor manufacturer's stock valued at $2,603,000 after buying an additional 106 shares during the last quarter. MeadowBrook Investment Advisors LLC lifted its position in Broadcom by 3.9% in the first quarter. MeadowBrook Investment Advisors LLC now owns 3,983 shares of the semiconductor manufacturer's stock worth $1,233,000 after purchasing an additional 150 shares during the period. Janney Montgomery Scott LLC boosted its position in shares of Broadcom by 6.5% during the 1st quarter. Janney Montgomery Scott LLC now owns 1,774,688 shares of the semiconductor manufacturer's stock valued at $549,284,000 after acquiring an additional 108,964 shares in the last quarter. Horizon Bancorp Inc. IN grew its stake in shares of Broadcom by 112.8% in the 1st quarter. Horizon Bancorp Inc. IN now owns 2,196 shares of the semiconductor manufacturer's stock valued at $680,000 after purchasing an additional 1,164 shares during the period. Finally, Kenora Financial LLC raised its stake in Broadcom by 1.1% during the first quarter. Kenora Financial LLC now owns 11,783 shares of the semiconductor manufacturer's stock worth $3,647,000 after acquiring an additional 125 shares in the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

Broadcom News Summary

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: UBS reaffirmed a Buy rating on Broadcom and kept a $485 price target, citing strong AI ASIC demand and growth tied to customers like OpenAI and Anthropic. UBS Reaffirms Buy Rating on Broadcom (AVGO) Amid AI ASIC Demand and OpenAI, Anthropic Growth
• Positive Sentiment: Jefferies also reiterated a Buy rating and a $550 price target, reinforcing the view that Broadcom still has meaningful upside from current levels. Analyst updates Broadcom (AVGO) stock price target
• Positive Sentiment: Several articles highlighted Broadcom’s growing role in custom AI silicon and its partnership with OpenAI on the “Jalapeño” AI accelerator, which supports the bullish narrative around its AI revenue opportunity. What Broadcom (AVGO)'s Jalapeño AI Accelerator Partnership With OpenAI Means For Shareholders
• Neutral Sentiment: Erste Group Bank slightly raised FY2026 and FY2027 earnings estimates for Broadcom and kept a Buy rating, adding to the list of supportive but not market-moving analyst updates.
• Neutral Sentiment: Market commentary continues to frame Broadcom as a strong growth stock and a key AI beneficiary, but these are mostly reiterations of the bullish long-term thesis rather than new catalysts.
• Negative Sentiment: Director Justine Page sold 1,602 shares at an average price of $373.86, extending recent insider-selling headlines that can weigh on investor sentiment. SEC Form 4 filing for Justine Page sale
• Negative Sentiment: Broader articles about Broadcom’s recent slump and questions about valuation suggest investors are becoming more cautious after the stock’s strong run, even with bullish analysts arguing the weakness is a buying opportunity.

Insider Activity

In other news, Director Gayla J. Delly sold 1,000 shares of the business's stock in a transaction that occurred on Thursday, April 9th. The shares were sold at an average price of $358.31, for a total value of $358,310.00. Following the transaction, the director owned 32,352 shares in the company, valued at approximately $11,592,045.12. The trade was a 3.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider S. Ram Velaga sold 8,000 shares of the company's stock in a transaction dated Friday, April 10th. The shares were sold at an average price of $370.52, for a total value of $2,964,160.00. Following the sale, the insider owned 57,932 shares in the company, valued at approximately $21,464,964.64. The trade was a 12.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 60,987 shares of company stock valued at $21,899,980. 1.90% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Jefferies Financial Group set a $550.00 target price on Broadcom and gave the stock a "buy" rating in a report on Thursday, June 4th. Zacks Research lowered shares of Broadcom from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 21st. Cantor Fitzgerald reiterated an "overweight" rating and issued a $525.00 price target on shares of Broadcom in a research report on Thursday, June 4th. Mizuho lifted their target price on Broadcom from $480.00 to $530.00 and gave the stock an "outperform" rating in a report on Thursday, June 4th. Finally, Seaport Research Partners reiterated a "neutral" rating on shares of Broadcom in a report on Wednesday, April 8th. One analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $493.24.

Broadcom Stock Performance

NASDAQ:AVGO opened at $369.34 on Thursday. The stock has a 50 day simple moving average of $410.00 and a 200 day simple moving average of $362.34. The stock has a market cap of $1.76 trillion, a P/E ratio of 61.56, a PEG ratio of 0.66 and a beta of 1.45. Broadcom Inc. has a 1-year low of $262.73 and a 1-year high of $495.00. 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 (NASDAQ:AVGO - Get Free Report) last issued its quarterly earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $22.13 billion. During the same quarter in the prior year, the business posted $1.58 earnings per share. The firm's quarterly revenue was up 47.9% compared to the same quarter last year. Research analysts anticipate that Broadcom Inc. will post 10.24 earnings per share for the current year.

Broadcom Dividend Announcement

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

About Broadcom

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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