Broadcom Inc. $AVGO Shares Bought by Lazard Asset Management LLC

Key Points

• Lazard Asset Management increased its Broadcom stake by 12.4% in the first quarter, purchasing 299,575 additional shares to hold 2.72 million shares valued at approximately $842.4 million.
• Analyst sentiment remains positive, with 28 Buy ratings and four Holds; Broadcom has a consensus “Moderate Buy” rating and an average price target of $493.24.
• Broadcom exceeded quarterly earnings and revenue expectations, reporting $2.44 in EPS and $22.19 billion in revenue, though insiders sold $24.0 million of stock over the past three months and shares face broader concerns about AI valuations and hyperscaler spending.

Lazard Asset Management LLC grew its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 12.4% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,721,809 shares of the semiconductor manufacturer's stock after purchasing an additional 299,575 shares during the period. Broadcom makes up about 1.4% of Lazard Asset Management LLC's investment portfolio, making the stock its 12th largest position. Lazard Asset Management LLC owned approximately 0.06% of Broadcom worth $842,427,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in AVGO. ROSS JOHNSON & Associates LLC lifted its holdings in Broadcom by 1,320.0% in the 4th quarter. ROSS JOHNSON & Associates LLC now owns 71 shares of the semiconductor manufacturer's stock worth $25,000 after buying an additional 66 shares in the last quarter. Networth Advisors LLC grew its stake in shares of Broadcom by 546.2% during 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 in the last quarter. SWAN Capital LLC grew its stake in shares of Broadcom by 261.9% during 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 in the last quarter. Nvest Wealth Strategies Inc. purchased a new stake in shares of Broadcom during the fourth quarter worth about $33,000. Finally, Family CFO Inc purchased a new stake in shares of Broadcom during the fourth quarter worth about $35,000. 76.43% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

AVGO has been the subject of a number of analyst reports. Seaport Research Partners reissued a "neutral" rating on shares of Broadcom in a report on Wednesday, April 8th. Wells Fargo & Company restated an "overweight" rating and set a $545.00 price objective (up from $430.00) on shares of Broadcom in a report on Thursday, May 14th. Citigroup reiterated a "buy" rating on shares of Broadcom in a research note on Thursday, June 4th. KeyCorp reissued an "overweight" rating and set a $575.00 price target (up from $500.00) on shares of Broadcom in a research report on Thursday, June 4th. Finally, Truist Financial lifted their price target on shares of Broadcom from $545.00 to $550.00 and gave the stock a "buy" rating in a research note 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. Based on data from MarketBeat, Broadcom presently has a consensus rating of "Moderate Buy" and a consensus target price of $493.24.

Insider Buying and Selling at Broadcom

In related news, Director Justine Page sold 1,602 shares of the stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $373.86, for a total transaction of $598,923.72. Following the sale, the director owned 17,426 shares in the company, valued at $6,514,884.36. This represents a 8.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Mark David Brazeal sold 25,000 shares of the firm's stock in a transaction dated Friday, July 10th. The stock was sold at an average price of $401.33, for a total transaction of $10,033,250.00. Following the completion of the transaction, the insider directly owned 194,989 shares in the company, valued at $78,254,935.37. This represents a 11.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 61,644 shares of company stock valued at $24,016,214 over the last three months. 1.90% of the stock is currently owned by company insiders.

Broadcom Trading Down 0.6%

Shares of NASDAQ AVGO opened at $380.91 on Wednesday. The company has a quick ratio of 2.01, a current ratio of 2.24 and a debt-to-equity ratio of 0.71. The stock's 50 day moving average price is $396.06 and its two-hundred day moving average price is $367.39. Broadcom Inc. has a 52-week low of $281.61 and a 52-week high of $495.00. The stock has a market capitalization of $1.81 trillion, a P/E ratio of 63.49, a PEG ratio of 0.73 and a beta of 1.45.

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. The company had revenue of $22.19 billion during 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 revenue was up 47.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.58 EPS. On average, analysts anticipate that Broadcom Inc. will post 10.24 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

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

More Broadcom News

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom’s custom-silicon business continues to attract demand from hyperscalers building AI infrastructure, with new client wins supporting the company’s growth outlook. Broadcom Rose on Strong Custom Silicon Demand and New Client Wins
• Positive Sentiment: Alphabet plans to spend approximately $195 billion to $205 billion on capital expenditures this year, maintaining a substantial customer opportunity for AI processors supplied by Broadcom and Nvidia. Alphabet CEO Sundar Pichai Just Made a Major Decision Affecting Nvidia and Broadcom Investors
• Positive Sentiment: J.P. Morgan said Broadcom will source most of its memory requirements from Samsung through 2030, potentially improving supply visibility as AI-related memory demand expands. Broadcom's Expanded Samsung Pact Shows AI Trade Is Still All About Memory
• Positive Sentiment: Recent investor commentary highlights Broadcom as a direct beneficiary of rising data-center infrastructure spending, with its custom silicon and networking products positioned as a way to monetize hyperscaler AI investment. I'm Buying Broadcom This Week For One Powerful Reason
• Neutral Sentiment: Broadcom has delivered strong long-term shareholder returns and recently benefited from solid quarterly results, although those gains have contributed to elevated expectations. 3 Big Reasons to Love Broadcom
• Negative Sentiment: The immediate pressure on AVGO is sector-wide: chip stocks extended their pullback as investors questioned whether the AI trade resembles a bubble, weighing on the Nasdaq and semiconductor valuations. Chip Stocks Extend Pullback Amid AI Bubble Fears
• Negative Sentiment: Investors remain concerned that hyperscaler capital-expenditure plans could slow or that Broadcom’s dependence on major customers, including Google, may limit its valuation upside. These concerns are competing with the company’s AI growth narrative. Broadcom: Why the Google Share Panic Misses What Broadcom's Moat Actually Is

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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