Broadcom Inc. $AVGO Stock Holdings Lifted by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management increased its Broadcom stake by 49.3% in the second quarter, adding 693,177 shares to hold 2.10 million shares valued at approximately $793.2 million. Institutional investors own 76.43% of Broadcom.
• Broadcom reported quarterly EPS of $2.44, exceeding estimates, while revenue rose 47.9% year over year to $22.19 billion. The company also maintains a quarterly dividend of $0.65, or $2.60 annually.
• Analysts remain broadly positive, with 28 Buy ratings and four Holds and a consensus price target of $493.24, but Broadcom’s premium valuation and potential China-related supply-chain restrictions present risks.

Assenagon Asset Management S.A. grew its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 49.3% in the second quarter, according to its most recent filing with the SEC. The fund owned 2,099,861 shares of the semiconductor manufacturer's stock after acquiring an additional 693,177 shares during the period. Broadcom comprises about 1.0% of Assenagon Asset Management S.A.'s portfolio, making the stock its 14th largest holding. Assenagon Asset Management S.A.'s holdings in Broadcom were worth $793,222,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Orser Capital Management LLC grew its holdings in shares of Broadcom by 15.1% in the 2nd quarter. Orser Capital Management LLC now owns 3,627 shares of the semiconductor manufacturer's stock worth $1,370,000 after acquiring an additional 477 shares during the last quarter. Red Spruce Capital LLC lifted its holdings in shares of Broadcom by 0.7% during the second quarter. Red Spruce Capital LLC now owns 28,080 shares of the semiconductor manufacturer's stock valued at $10,607,000 after purchasing an additional 196 shares during the last quarter. 55 North Private Wealth LLC lifted its holdings in shares of Broadcom by 2.2% during the second quarter. 55 North Private Wealth LLC now owns 7,513 shares of the semiconductor manufacturer's stock valued at $2,838,000 after purchasing an additional 164 shares during the last quarter. Byrne Asset Management LLC acquired a new position in shares of Broadcom in the 2nd quarter valued at $84,000. Finally, Clark Asset Management LLC boosted its position in shares of Broadcom by 3.3% in the 2nd quarter. Clark Asset Management LLC now owns 4,990 shares of the semiconductor manufacturer's stock valued at $1,885,000 after purchasing an additional 160 shares during the period. 76.43% of the stock is owned by institutional investors.

Broadcom Price Performance

AVGO opened at $420.57 on Friday. The stock has a fifty day moving average price of $393.37 and a 200 day moving average price of $370.05. 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 Inc. has a 1 year low of $281.87 and a 1 year high of $495.00. The stock has a market cap of $2.00 trillion, a price-to-earnings ratio of 70.10, a PEG ratio of 0.80 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 earnings per share for the quarter, topping the consensus estimate of $2.40 by $0.04. Broadcom had a return on equity of 41.61% and a net margin of 38.85%.The company had revenue of $22.19 billion for the quarter, compared to analyst estimates of $22.13 billion. During the same period in the prior year, the firm posted $1.58 EPS. The business's revenue was up 47.9% compared to the same quarter last year. Analysts forecast that Broadcom Inc. will post 10.24 EPS 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 paid a $0.65 dividend. The ex-dividend date of this dividend was Monday, June 22nd. This represents a $2.60 annualized dividend and a dividend yield of 0.6%. Broadcom's payout ratio is presently 43.33%.

Insider Transactions at Broadcom

In other Broadcom news, insider Mark David Brazeal sold 25,000 shares of Broadcom stock in a transaction that occurred on Friday, July 10th. The shares were sold at an average price of $401.33, for a total value of $10,033,250.00. Following the completion of the sale, the insider directly owned 194,989 shares in the company, valued at $78,254,935.37. The trade was a 11.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Justine Page sold 1,602 shares of the business's stock in a transaction that occurred on 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 sale, the director directly owned 17,426 shares of the company's stock, valued at $6,514,884.36. This represents a 8.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 61,644 shares of company stock worth $24,016,214. 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 is viewed as a major beneficiary of the shift toward custom AI chips. Its application-specific integrated circuits, networking silicon and optical-connectivity products are increasingly important to hyperscalers building large AI data centers, supporting expectations for significant earnings growth through 2027. Broadcom Is Down 20% From Its All-Time High. Here's Why It's a Screaming Bargain.
• Positive Sentiment: Record semiconductor and AI-chip demand is keeping Broadcom in focus, while analysts and market commentators describe the stock as approaching a technical breakout. The broader semiconductor rally and strong AI infrastructure spending are providing a favorable sector backdrop. Why Is Broadcom in Focus as AI Chips Set Records?
• Positive Sentiment: Broadcom introduced new VMware vDefend and Avi Load Balancer capabilities designed to improve cybersecurity, performance and operational efficiency in private-cloud environments. The updates could strengthen its infrastructure-software offering as enterprises prepare for AI workloads. Broadcom Enables Enterprises to Strengthen Multi-Layer Cyber Defense
• Neutral Sentiment: Articles comparing Broadcom with Microsoft, AMD and Nvidia highlight its strategic position in AI infrastructure, but also show that investors are weighing different ways to gain AI exposure rather than responding to a new company-specific financial catalyst. Microsoft vs. Broadcom: Two AI Powerhouses, One Better Investment
• Negative Sentiment: Potential U.S. restrictions on Chinese AI components and optical transceivers could create supply-chain bottlenecks, raise deployment costs and delay data-center projects. Although domestic suppliers may benefit over time, Broadcom could face near-term uncertainty because its chips and networking components are part of the interconnected supply chain. Broadcom, Marvell and Nvidia Could Feel the Impact of a China AI Component Ban
• Negative Sentiment: Broadcom’s strong AI outlook is already reflected in a premium valuation, leaving the stock vulnerable to profit-taking if growth expectations, customer spending or supply capacity disappoint. Competition from Marvell, Astera Labs and other custom-chip vendors is another risk. Broadcom Valuation and Growth Outlook

Analyst Ratings Changes

AVGO has been the topic of several recent analyst reports. Royal Bank Of Canada boosted their price objective on Broadcom from $360.00 to $400.00 and gave the stock a "sector perform" rating in a report on Thursday, June 4th. Susquehanna reiterated a "positive" rating and issued a $490.00 target price (up from $450.00) on shares of Broadcom in a report on Thursday, May 28th. Rosenblatt Securities reiterated a "buy" rating and issued a $500.00 target price on shares of Broadcom in a report on Thursday, June 4th. Oppenheimer reissued an "outperform" rating and issued a $535.00 target price (up from $450.00) on shares of Broadcom in a research report on Thursday, June 4th. Finally, Jefferies Financial Group set a $550.00 price target on shares of Broadcom and gave the company a "buy" rating in a report on Thursday, June 4th. Twenty-eight equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $493.24.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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