Broadcom Inc. $AVGO Shares Acquired by Resonant Capital Advisors LLC

Key Points

• Resonant Capital Advisors LLC boosted its Broadcom stake by 4.8% in the first quarter, bringing its holdings to 35,454 shares valued at about $11.0 million. The filing underscores continued institutional interest, with 76.43% of Broadcom owned by hedge funds and other institutions.
• Broadcom reported stronger-than-expected quarterly results, posting $2.44 EPS on revenue of $22.19 billion, both slightly ahead of estimates. Revenue rose 47.9% year over year, and analysts currently expect full-year EPS of 10.24.
• The company remains supported by bullish AI and deal-related catalysts, including a more than $30 billion expanded Apple agreement through 2031 and continued optimism around its AI networking business. However, some analysts have raised valuation concerns, including a recent downgrade to Hold.

Resonant Capital Advisors LLC increased its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 4.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 35,454 shares of the semiconductor manufacturer's stock after buying an additional 1,633 shares during the quarter. Resonant Capital Advisors LLC's holdings in Broadcom were worth $10,973,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. ROSS JOHNSON & Associates LLC grew its stake in Broadcom by 1,320.0% during the 4th quarter. ROSS JOHNSON & Associates LLC now owns 71 shares of the semiconductor manufacturer's stock valued at $25,000 after purchasing an additional 66 shares during the last quarter. Networth Advisors LLC increased its holdings in shares of 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 purchasing an additional 71 shares during the period. SWAN Capital LLC raised its stake in shares of Broadcom by 261.9% in the fourth quarter. SWAN Capital LLC now owns 76 shares of the semiconductor manufacturer's stock worth $26,000 after purchasing an additional 55 shares during the last quarter. Miller Global Investments LLC purchased a new position in shares of Broadcom in the fourth quarter worth about $31,000. Finally, Nvest Wealth Strategies Inc. acquired a new stake in shares of Broadcom during the fourth quarter worth about $33,000. 76.43% of the stock is owned by institutional investors and hedge funds.

Broadcom Stock Performance

AVGO stock traded down $1.14 during trading on Friday, hitting $399.97. 14,579,242 shares of the company traded hands, compared to its average volume of 26,802,910. Broadcom Inc. has a 1 year low of $269.58 and a 1 year high of $495.00. The company has a market cap of $1.90 trillion, a PE ratio of 66.66, a P/E/G ratio of 0.70 and a beta of 1.45. The stock's 50-day simple moving average is $405.29 and its 200 day simple moving average is $364.13. 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 (NASDAQ:AVGO - Get Free Report) last released 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. The business had revenue of $22.19 billion for the quarter, compared to analyst estimates of $22.13 billion. Broadcom had a return on equity of 41.61% and a net margin of 38.85%.The business's quarterly revenue was up 47.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.58 EPS. On average, equities analysts expect that Broadcom Inc. will post 10.24 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The company also recently declared 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 dividend on an annualized basis and a yield of 0.7%. Broadcom's dividend payout ratio is 43.33%.

Insider Activity

In other Broadcom news, Director Gayla J. Delly sold 1,890 shares of Broadcom 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 completion of the transaction, the director owned 31,326 shares of the company's stock, valued at approximately $12,072,413.88. The trade was a 5.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Justine Page sold 1,602 shares of the company's stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $373.86, for a total transaction of $598,923.72. Following the completion of the transaction, the director owned 17,426 shares of the company's stock, valued at approximately $6,514,884.36. This trade represents a 8.42% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 36,644 shares of company stock worth $13,982,964 in the last ninety days. Corporate insiders own 1.90% of the company's stock.

Key Headlines Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom’s expanded Apple agreement, valued at more than $30 billion through 2031, strengthens visibility for revenue and highlights demand beyond AI chips. Why Broadcom Stock Rose Today
• Positive Sentiment: Analysts remain upbeat on Broadcom’s AI business, with Jefferies reiterating a Buy rating and a $550 price target as AI chip momentum improves. Broadcom’s (AVGO) AI Chip Momentum Keeps Wall Street Bullish
• Positive Sentiment: Broadcom is being viewed as a broader AI infrastructure winner because its networking products help connect large-scale AI systems, expanding the investment thesis beyond GPUs and custom chips. Broadcom stock's latest catalyst targets Nvidia where it looks strongest
• Neutral Sentiment: Some coverage notes Broadcom’s near-$2 trillion market value and strong AI revenue growth, but also suggests much of the good news may already be reflected in the stock. Broadcom Is Less Than 5% From the $2 Trillion Club -- and Apple Just Committed $30 Billion for More Chips
• Negative Sentiment: Erste Group downgraded Broadcom to Hold, citing valuation concerns, which may be limiting upside after the recent rally. Erste Group downgrades Broadcom to Hold citing valuation concerns

Wall Street Analysts Forecast Growth

AVGO has been the topic of a number of recent research reports. Benchmark upped their target price on Broadcom from $485.00 to $545.00 and gave the company a "buy" rating in a research report on Thursday, June 4th. Weiss Ratings cut shares of Broadcom from a "buy (b)" rating to a "buy (b-)" rating in a research note on Friday, June 26th. Evercore reaffirmed an "outperform" rating and issued a $582.00 price objective on shares of Broadcom in a report on Tuesday, May 19th. Mizuho increased their price objective on shares of Broadcom from $480.00 to $530.00 and gave the stock an "outperform" rating in a research note on Thursday, June 4th. Finally, Cantor Fitzgerald reissued an "overweight" rating and set a $525.00 target price on shares of Broadcom in a report on Thursday, June 4th. One analyst has rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $493.24.

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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