Burkett Asset Management Ltd Purchases Shares of 3,807 Broadcom Inc. $AVGO

Key Points

• Burkett Asset Management Ltd disclosed a new stake in Broadcom, buying 3,807 shares valued at about $1.318 million. The position makes Broadcom roughly 1.3% of the firm’s portfolio.
• Broadcom continues to attract strong Wall Street support, with multiple analysts raising price targets and the stock carrying a consensus rating of Moderate Buy. Recent targets range as high as $580, while the average target sits around $490.13.
• The company posted a solid quarter, beating estimates with $2.44 EPS on $22.19 billion in revenue, helped by 47.9% year-over-year revenue growth. Broadcom also recently declared a quarterly dividend of $0.65 per share.

Burkett Asset Management Ltd purchased a new stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 3,807 shares of the semiconductor manufacturer's stock, valued at approximately $1,318,000. Broadcom comprises approximately 1.3% of Burkett Asset Management Ltd's investment portfolio, making the stock its 25th largest holding.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AVGO. Brighton Jones LLC grew its holdings in Broadcom by 21.8% during the fourth quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer's stock valued at $6,882,000 after purchasing an additional 5,322 shares during the last quarter. Revolve Wealth Partners LLC grew its holdings in Broadcom by 10.4% during the fourth quarter. Revolve Wealth Partners LLC now owns 7,997 shares of the semiconductor manufacturer's stock valued at $1,854,000 after purchasing an additional 756 shares during the last quarter. United Bank grew its holdings in Broadcom by 76.5% during the first quarter. United Bank now owns 2,339 shares of the semiconductor manufacturer's stock valued at $392,000 after purchasing an additional 1,014 shares during the last quarter. Sivia Capital Partners LLC grew its holdings in Broadcom by 10.1% during the second quarter. Sivia Capital Partners LLC now owns 12,693 shares of the semiconductor manufacturer's stock valued at $3,499,000 after purchasing an additional 1,160 shares during the last quarter. Finally, Capital & Planning LLC boosted its position in shares of Broadcom by 10.5% in the second quarter. Capital & Planning LLC now owns 3,983 shares of the semiconductor manufacturer's stock valued at $1,098,000 after acquiring an additional 378 shares during the period. Institutional investors and hedge funds own 76.43% of the company's stock.

Analyst Ratings Changes

Several research firms have recently weighed in on AVGO. Rosenblatt Securities reissued a "buy" rating and issued a $500.00 price objective on shares of Broadcom in a research report on Thursday, June 4th. Bank of America increased their price objective on Broadcom from $450.00 to $530.00 and gave the company a "buy" rating in a research report on Thursday, June 4th. JPMorgan Chase & Co. increased their price objective on Broadcom from $500.00 to $580.00 and gave the company an "overweight" rating in a research report on Thursday, June 4th. Evercore reissued an "outperform" rating and issued a $582.00 price objective on shares of Broadcom in a research report on Tuesday, May 19th. Finally, Wall Street Zen raised Broadcom from a "hold" rating to a "buy" rating in a research report on Sunday, June 7th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $490.13.

Insider Transactions at Broadcom

In related news, insider Mark David Brazeal sold 50,488 shares of the firm's stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $321.60, for a total value of $16,236,940.80. Following the completion of the transaction, the insider directly owned 278,141 shares of the company's stock, valued at $89,450,145.60. This trade represents a 15.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider S. Ram Velaga sold 38,841 shares of the firm's stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $321.60, for a total value of $12,491,265.60. Following the completion of the transaction, the insider directly owned 96,147 shares of the company's stock, valued at approximately $30,920,875.20. This trade represents a 28.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 324,282 shares of company stock valued at $106,425,249 in the last ninety days. 1.90% of the stock is owned by company insiders.

Key Stories Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Several analysts raised or reiterated bullish views after the pullback, including Erste Group increasing its FY2026 and FY2027 EPS estimates and maintaining a Buy rating, while other reports said Wall Street price targets are still rising despite the selloff. As Shares Fall, Analyst Are Boosting their Broadcom Price Targets
• Positive Sentiment: Broadcom continues to be highlighted as a major AI winner, with articles noting strong AI chip demand, large AI bookings, and its growing role in custom AI chips for hyperscale customers. Broadcom's Post-Earnings Dip Is a Compelling Buying Opportunity
• Positive Sentiment: Broadcom announced cash tender offers for certain outstanding debt securities, which may be viewed as a balance-sheet management move that could modestly support investor confidence. Broadcom Inc. Commences Offers to Purchase for Cash Certain of its Outstanding Debt Securities
• Neutral Sentiment: Broadcom was also featured in multiple articles calling it a top AI stock in Ken Griffin’s portfolio, reinforcing its reputation as a core AI holding rather than providing a new company-specific catalyst. Broadcom Inc. (AVGO) Is A Top AI Stock In Ken Griffin’s Portfolio
• Negative Sentiment: The main drag on the stock has been post-earnings skepticism: investors punished Broadcom despite beat-and-raise style results because its AI guidance was seen as too conservative relative to a very rich valuation. Stock Market Today, June 10: Broadcom Falls as Strong AI Quarter Tests Stock's Premium Valuation
• Negative Sentiment: Some commentators warned that Broadcom’s AI story may have red flags, with concerns that the market is focused too heavily on short-term guidance and premium expectations rather than fundamentals. Broadcom Looks Like A Value (Growth) Trap

Broadcom Stock Up 3.6%

Shares of AVGO stock opened at $385.57 on Friday. The stock has a market cap of $1.83 trillion, a P/E ratio of 64.26, a price-to-earnings-growth ratio of 0.65 and a beta of 1.41. Broadcom Inc. has a one year low of $244.17 and a one year high of $495.00. The stock has a fifty day moving average price of $402.89 and a 200 day moving average price of $363.19. 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 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 firm had revenue of $22.19 billion during the quarter, compared to analysts' expectations of $22.13 billion. Broadcom had a return on equity of 41.61% and a net margin of 38.85%.Broadcom's quarterly revenue was up 47.9% compared to the same quarter last year. During the same period last year, the business earned $1.58 earnings per share. Analysts predict that Broadcom Inc. will post 10.24 earnings per share for the current year.

Broadcom Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 22nd will be given a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Monday, June 22nd. Broadcom's dividend payout ratio (DPR) is 43.33%.

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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