Broadcom Inc. $AVGO Shares Purchased by Steamboat Capital Partners LLC

Key Points

• Steamboat Capital Partners increased its Broadcom stake by 20.9% in the second quarter, bringing its holdings to 54,388 shares valued at approximately $20.5 million. Broadcom now represents 4.4% of the fund’s portfolio.
• Institutional investors own 76.43% of Broadcom, while insiders sold 53,492 shares worth $20.84 million over the past 90 days.
• Broadcom reported better-than-expected quarterly results, with revenue up 85.5% year over year, and analysts maintain a broadly bullish outlook driven by AI-chip demand. The stock has a consensus “Moderate Buy” rating and a $509.04 price target.

Steamboat Capital Partners LLC raised its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 20.9% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 54,388 shares of the semiconductor manufacturer's stock after buying an additional 9,388 shares during the quarter. Broadcom comprises about 4.4% of Steamboat Capital Partners LLC's investment portfolio, making the stock its 3rd biggest position. Steamboat Capital Partners LLC's holdings in Broadcom were worth $20,545,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of AVGO. Cornerstone Advisors LLC acquired a new position in shares of Broadcom in the second quarter valued at approximately $92,522,000. Bank of America Corp DE boosted its position in Broadcom by 1.5% during the first quarter. Bank of America Corp DE now owns 58,737,097 shares of the semiconductor manufacturer's stock worth $18,179,719,000 after acquiring an additional 894,564 shares during the last quarter. Clear Harbor Asset Management LLC acquired a new stake in Broadcom during the second quarter worth approximately $3,302,000. Bartlett & CO. Wealth Management LLC grew its stake in Broadcom by 129.3% in the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 110,048 shares of the semiconductor manufacturer's stock worth $34,061,000 after acquiring an additional 62,050 shares during the period. Finally, First Bank & Trust raised its holdings in Broadcom by 17.2% in the 2nd quarter. First Bank & Trust now owns 10,503 shares of the semiconductor manufacturer's stock valued at $3,968,000 after acquiring an additional 1,545 shares during the last quarter. Hedge funds and other institutional investors own 76.43% of the company's stock.

Insider Buying and Selling at Broadcom

In other news, insider Mark 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 value of $10,033,250.00. Following the transaction, the insider directly owned 194,989 shares in the company, valued at $78,254,935.37. This trade represents a 11.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Justine Page sold 1,602 shares of Broadcom stock in a transaction dated 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 directly 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 disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 53,492 shares of company stock valued at $20,840,292. Company 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 custom-chip opportunity remains the main bullish catalyst. Management forecasts AI semiconductor revenue of approximately $115 billion in fiscal 2027 and $230 billion in fiscal 2028, while recent reports say AI chip orders are tripling. Investors are looking for evidence that these orders will translate into revenue and earnings growth. Investors Want to Know When Broadcom’s Custom Hyperscaler Chips Will Move Share Prices
• Positive Sentiment: Analysts and market commentators see substantial upside after the summer selloff. Jim Cramer called AVGO potentially “too cheap to ignore,” while other coverage points to a wide gap between the current share price and Wall Street price targets. Jim Cramer on Broadcom: The Stock May Be Too Cheap to Ignore
• Positive Sentiment: Broadcom is viewed as a key supplier to the next phase of AI infrastructure, including custom accelerators, networking and inference hardware. Industry commentary also highlights potential growth in enterprise AI and VMware private-cloud demand, although the evidence for that software trend is mixed. Enterprise AI to Boost Broadcom’s Software Business
• Neutral Sentiment: The broader semiconductor rebound helped lift AVGO, but the stock’s performance is still being driven more by expectations than by newly announced company-specific results. Investors are waiting for custom-hyperscaler chip deployments to produce visible financial impact.
• Negative Sentiment: Shares have faced pressure after Anthropic and OpenAI leaders urged caution around rapidly scaling advanced AI models. That has raised concerns that hyperscalers could slow infrastructure spending, even though Broadcom’s CEO has reportedly maintained the company’s AI revenue targets. Broadcom Shares Fell as Slower AI Development Raised Demand Concerns

Broadcom Stock Performance

NASDAQ:AVGO opened at $347.30 on Friday. The company has a market cap of $1.66 trillion, a P/E ratio of 44.36 and a beta of 1.44. The firm's 50 day moving average is $379.76 and its two-hundred day moving average is $379.16. Broadcom Inc. has a fifty-two week low of $289.96 and a fifty-two week high of $495.00. The company has a quick ratio of 2.29, a current ratio of 2.50 and a debt-to-equity ratio of 0.57.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its quarterly earnings data on Wednesday, September 2nd. The semiconductor manufacturer reported $3.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.22 by $0.10. The company had revenue of $29.59 billion during the quarter, compared to analysts' expectations of $29.24 billion. Broadcom had a net margin of 42.94% and a return on equity of 48.33%. The business's quarterly revenue was up 85.5% compared to the same quarter last year. During the same period in the previous year, the company earned $1.69 EPS. Analysts expect that Broadcom Inc. will post 10.36 EPS for the current year.

Broadcom Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Monday, September 21st will be issued a $0.65 dividend. The ex-dividend date is Monday, September 21st. This represents a $2.60 dividend on an annualized basis and a yield of 0.7%. Broadcom's dividend payout ratio (DPR) is presently 33.21%.

Wall Street Analyst Weigh In

AVGO has been the topic of a number of recent analyst reports. KeyCorp reissued an "overweight" rating and set a $575.00 price target on shares of Broadcom in a research note on Thursday, September 3rd. Royal Bank Of Canada began coverage on Broadcom in a research report on Thursday, September 3rd. They issued an "outperform" rating for the company. BMO Capital Markets upped their target price on Broadcom from $455.00 to $575.00 and gave the company an "outperform" rating in a research note on Thursday, September 3rd. Jefferies Financial Group began coverage on Broadcom in a research report on Thursday, September 3rd. They set a "buy" rating on the stock. Finally, Piper Sandler started coverage on Broadcom in a research note on Wednesday, September 9th. They issued an "overweight" rating and a $460.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $509.04.

Broadcom Company Profile

Broadcom Inc NASDAQ: AVGO designs, develops and supplies semiconductor and infrastructure software products for businesses, telecommunications providers and other organizations worldwide. Its semiconductor portfolio includes networking and connectivity components, custom application-specific integrated circuits, broadband and wireless communications products, storage adapters, optical components, and industrial solutions.

The company also provides enterprise infrastructure software through businesses including VMware, which offers virtualization and private- and hybrid-cloud solutions; mainframe and enterprise software; and cybersecurity products.

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