Convergence Investment Partners LLC Acquires 12,093 Shares of Broadcom Inc. $AVGO

Key Points

• Convergence Investment Partners LLC boosted its Broadcom stake by 38.9% in the first quarter, buying 12,093 additional shares and bringing its total to 43,202 shares worth about $13.37 million.
• Broadcom continues to attract strong institutional interest, with several hedge funds and investors increasing holdings; overall, 76.43% of the stock is owned by institutions and hedge funds.
• Analysts remain upbeat on AVGO, with multiple firms raising price targets and the consensus rating sitting at “Moderate Buy” with a target of $493.24. The company also beat quarterly earnings expectations, reporting $2.44 EPS on $22.19 billion in revenue.

Convergence Investment Partners LLC increased its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 38.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,202 shares of the semiconductor manufacturer's stock after purchasing an additional 12,093 shares during the quarter. Broadcom accounts for 2.2% of Convergence Investment Partners LLC's holdings, making the stock its 2nd biggest position. Convergence Investment Partners LLC's holdings in Broadcom were worth $13,371,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in AVGO. Bartlett & CO. Wealth Management LLC raised its position 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 buying an additional 62,050 shares during the last quarter. Sovran Advisors LLC boosted its holdings in shares of Broadcom by 121.3% during the 4th quarter. Sovran Advisors LLC now owns 30,631 shares of the semiconductor manufacturer's stock valued at $10,507,000 after acquiring an additional 16,789 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. grew its stake in shares of Broadcom by 406.1% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 11,994 shares of the semiconductor manufacturer's stock worth $4,151,000 after acquiring an additional 9,624 shares during the period. Aspiriant LLC grew its stake in shares of Broadcom by 18.5% in the fourth quarter. Aspiriant LLC now owns 12,016 shares of the semiconductor manufacturer's stock worth $4,158,000 after acquiring an additional 1,872 shares during the period. Finally, World Investment Advisors raised its holdings in shares of Broadcom by 16.1% during the fourth quarter. World Investment Advisors now owns 177,710 shares of the semiconductor manufacturer's stock valued at $61,505,000 after purchasing an additional 24,703 shares during the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Broadcom

In other Broadcom news, Director Justine Page sold 1,602 shares of the company'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 sale, 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 sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Gayla J. Delly sold 1,890 shares of the firm's stock in a transaction that occurred on Wednesday, July 8th. The shares were sold at an average price of $385.38, for a total value of $728,368.20. Following the completion of the sale, the director directly owned 31,326 shares of the company's stock, valued at $12,072,413.88. The trade was a 5.69% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 61,644 shares of company stock valued at $24,016,214 over the last quarter. 1.90% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

AVGO has been the topic of several research reports. Wells Fargo & Company restated an "overweight" rating and issued a $545.00 target price (up from $430.00) on shares of Broadcom in a report on Thursday, May 14th. Morgan Stanley set a $502.00 target price on shares of Broadcom and gave the company an "overweight" rating in a research note on Thursday, June 4th. Seaport Research Partners restated a "neutral" rating on shares of Broadcom in a research note on Wednesday, April 8th. Truist Financial lifted their price objective on Broadcom from $545.00 to $550.00 and gave the stock a "buy" rating in a report on Thursday, June 4th. Finally, JPMorgan Chase & Co. upped 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. One equities research 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. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $493.24.

Broadcom Price Performance

NASDAQ AVGO opened at $392.47 on Friday. The business's fifty day moving average is $398.28 and its 200 day moving average is $366.58. Broadcom Inc. has a fifty-two week low of $281.61 and a fifty-two week high of $495.00. 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 $1.87 trillion, a PE ratio of 65.41, a price-to-earnings-growth ratio of 0.76 and a beta of 1.45.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its quarterly earnings data on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 EPS 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 firm had revenue of $22.19 billion for the quarter, compared to the consensus estimate of $22.13 billion. During the same quarter last year, the company earned $1.58 earnings per share. The business's revenue for the quarter was up 47.9% compared to the same quarter last year. Sell-side analysts predict that Broadcom Inc. will post 10.24 earnings per share for the current year.

Broadcom Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors 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 dividend on an annualized basis and a yield of 0.7%. Broadcom's dividend payout ratio is presently 43.33%.

Key Stories Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom was singled out as a leading AI infrastructure stock, with analysts noting its strong AI bookings and long-dated customer commitments as advantages over smaller rivals. CBRS vs. AVGO: Which Stock Leads the AI Infrastructure Boom?
• Positive Sentiment: Coverage also pointed to Broadcom as one of the top networking semiconductor names to watch because AI data center demand is accelerating and driving interest in the group. 4 Networking Semiconductor Stocks to Watch in August 2026
• Positive Sentiment: Another piece argued that Broadcom’s AI trade remains intact after Alphabet’s strong earnings, supporting the broader market’s enthusiasm for AI infrastructure suppliers. The AI Trade Isn't Slowing
• Positive Sentiment: Broadcom was also highlighted as a beneficiary of AI exposure plus dividend income, reinforcing its appeal to growth-and-income investors. These Stocks Offer AI Exposure and Dividend Payouts
• Neutral Sentiment: Several articles compared Broadcom’s year-to-date performance with other tech stocks and broader sector returns, but these were mostly performance updates rather than new catalysts. Are Computer and Technology Stocks Lagging Broadcom (AVGO) This Year?
• Neutral Sentiment: Commentary on Broadcom as a dividend ETF holding and on billionaire investor Philippe Laffont’s tech picks added some sentiment support, but did not point to a direct company-specific event. This Dividend ETF Choice Could Shape Your Income Strategy Through 2026
• Negative Sentiment: One note flagged insider selling at Broadcom, which may temper enthusiasm a bit after the stock’s strong run. Insider Moves Are Sending Mixed Signals Across the Tech Sector

Broadcom 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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