Broadcom Inc. $AVGO Shares Purchased by Sovran Advisors LLC

Key Points

• Sovran Advisors LLC increased its Broadcom stake by 10.0% in the first quarter, ending with 33,705 shares valued at about $10.4 million.
• Broadcom is drawing bullish attention from Wall Street on the back of its Apple-related chip deal and AI positioning, with analysts calling it a “core AI winner” and several firms raising price targets.
• The company recently posted strong quarterly results, beating EPS and revenue estimates, while also paying a quarterly dividend of $0.65 per share for a 0.7% yield.

Sovran Advisors LLC boosted its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 10.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 33,705 shares of the semiconductor manufacturer's stock after buying an additional 3,074 shares during the quarter. Broadcom makes up about 0.8% of Sovran Advisors LLC's holdings, making the stock its 24th largest position. Sovran Advisors LLC's holdings in Broadcom were worth $10,432,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Brighton Jones LLC boosted its position in shares of Broadcom by 21.8% during the 4th quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer's stock worth $6,882,000 after acquiring an additional 5,322 shares in the last quarter. Revolve Wealth Partners LLC raised its position 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 worth $1,854,000 after acquiring an additional 756 shares in the last quarter. United Bank lifted its stake in Broadcom by 76.5% during the first quarter. United Bank now owns 2,339 shares of the semiconductor manufacturer's stock worth $392,000 after purchasing an additional 1,014 shares during the last quarter. Sivia Capital Partners LLC lifted its stake in Broadcom by 10.1% during the second quarter. Sivia Capital Partners LLC now owns 12,693 shares of the semiconductor manufacturer's stock worth $3,499,000 after purchasing an additional 1,160 shares during the last quarter. Finally, Capital & Planning LLC lifted its stake in Broadcom by 10.5% during the second quarter. Capital & Planning LLC now owns 3,983 shares of the semiconductor manufacturer's stock worth $1,098,000 after purchasing an additional 378 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Key Stories Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Evercore ISI said Broadcom’s multiyear agreement with Apple is strategically positive, as it strengthens Apple’s AI compute silicon efforts and extends Broadcom’s role as a key custom-chip partner. Broadcom Inc. (AVGO) Agreement a Strategic Positive for Apple, says Evercore ISI
• Positive Sentiment: Reports say Broadcom secured its role as a key Apple supplier through 2031, giving investors more confidence in a long-duration revenue stream. Broadcom Inc. (AVGO) Secures Role as Key Apple Supplier with Chip Deal through 2031
• Positive Sentiment: Morgan Stanley described Broadcom as a “core AI winner,” keeping the stock in focus as one of the main beneficiaries of AI infrastructure spending. Broadcom is a 'core AI winner,' even as MediaTek encroaches, Morgan Stanley says
• Neutral Sentiment: Additional commentary highlighted Broadcom as a major AI stock and a possible outperformer versus other chip names, which adds to the bullish narrative but does not change the near-term business outlook directly. Is Broadcom Inc. (AVGO) a Buy as Wall Street Analysts Look Optimistic?
• Negative Sentiment: There was also an insider-selling headline, which can weigh on sentiment even if it does not necessarily reflect a change in the company’s fundamentals. Insider Selling: Broadcom NASDAQ: AVGO Insider Sells $9,479,750.00 in Stock

Insider Buying and Selling

In related news, Director Harry L. You acquired 1,000 shares of the firm's stock in a transaction on Thursday, June 11th. The stock was bought at an average cost of $373.57 per share, with a total value of $373,570.00. Following the transaction, the director owned 38,466 shares of the company's stock, valued at $14,369,743.62. The trade was a 2.67% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Justine Page sold 1,602 shares of Broadcom stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $373.86, for a total value of $598,923.72. Following the completion of the transaction, the director owned 17,426 shares in the company, valued at $6,514,884.36. This trade represents a 8.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 61,644 shares of company stock valued at $24,016,214 in the last quarter. 1.90% of the stock is currently owned by insiders.

Broadcom Trading Up 1.3%

Shares of Broadcom stock opened at $389.11 on Wednesday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 2.01 and a current ratio of 2.24. The company has a market capitalization of $1.85 trillion, a P/E ratio of 64.85, a PEG ratio of 0.67 and a beta of 1.45. Broadcom Inc. has a 1 year low of $273.00 and a 1 year high of $495.00. The company's fifty day moving average is $403.86 and its two-hundred day moving average is $364.80.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 EPS for the quarter, beating analysts' consensus estimates of $2.40 by $0.04. Broadcom had a net margin of 38.85% and a return on equity of 41.61%. The business had revenue of $22.19 billion during the quarter, compared to analysts' expectations of $22.13 billion. During the same period in the prior year, the company earned $1.58 earnings per share. The business's revenue was up 47.9% compared to the same quarter last year. Analysts forecast 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 paid 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 yield of 0.7%. Broadcom's dividend payout ratio is currently 43.33%.

Analyst Upgrades and Downgrades

Several brokerages have commented on AVGO. Wall Street Zen upgraded shares of Broadcom from a "buy" rating to a "strong-buy" rating in a research note on Wednesday, July 1st. Oppenheimer restated an "outperform" rating and issued a $535.00 target price (up from $450.00) on shares of Broadcom in a report on Thursday, June 4th. Benchmark upped their target price on shares of Broadcom from $485.00 to $545.00 and gave the company a "buy" rating in a report on Thursday, June 4th. Weiss Ratings lowered shares of Broadcom from a "buy (b)" rating to a "buy (b-)" rating in a research note on Friday, June 26th. Finally, Bank of America boosted their price target on shares of Broadcom from $450.00 to $530.00 and gave the company a "buy" rating in a research report on Thursday, June 4th. One investment analyst has rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, Broadcom 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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