CoreCap Advisors LLC lifted its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 10.2% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 42,639 shares of the semiconductor manufacturer's stock after acquiring an additional 3,942 shares during the quarter. CoreCap Advisors LLC's holdings in Broadcom were worth $16,107,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in AVGO. Brighton Jones LLC raised its holdings in 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 purchasing an additional 5,322 shares during the last quarter. Revolve Wealth Partners LLC boosted its stake in shares of Broadcom by 10.4% in the 4th 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 boosted its stake in shares of Broadcom by 76.5% in the 1st 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 boosted its stake in shares of Broadcom by 10.1% in the 2nd 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 grew its position in shares of Broadcom by 10.5% during the 2nd quarter. Capital & Planning LLC now owns 3,983 shares of the semiconductor manufacturer's stock worth $1,098,000 after buying an additional 378 shares during the period. Institutional investors and hedge funds own 76.43% of the company's stock.
Broadcom Trading Up 6.6%
Shares of Broadcom stock opened at $418.16 on Wednesday. The firm's 50-day moving average price is $393.57 and its two-hundred day moving average price is $369.03. The company has a market capitalization of $1.99 trillion, a price-to-earnings ratio of 69.69, a PEG ratio of 0.75 and a beta of 1.45. The company has a quick ratio of 2.01, a current ratio of 2.24 and a debt-to-equity ratio of 0.71. Broadcom Inc. has a 12-month low of $281.87 and a 12-month high of $495.00.
Broadcom (NASDAQ:AVGO - Get Free Report) last released its earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.40 by $0.04. The firm had revenue of $22.19 billion for 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%.The business's revenue for the quarter was up 47.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.58 earnings per share. On average, analysts forecast that Broadcom Inc. will post 10.24 earnings per share for the current fiscal year.
Broadcom Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 22nd were given 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 0.6%. Broadcom's dividend payout ratio is 43.33%.
Key Stories Impacting Broadcom
Here are the key news stories impacting Broadcom this week:
- Positive Sentiment: Investors are focusing on Broadcom’s role in Google’s planned roughly $200 billion AI buildout. The company’s custom accelerators, networking products, and infrastructure software could benefit as major cloud providers expand computing capacity. Broadcom and Google’s $200 Billion AI Build Put Its Chip Role in Focus
- Positive Sentiment: Broadcom participated in a sharp risk-on rally across the chip sector, as investors rotated back into AI-related semiconductor shares. The broader industry move provided additional momentum for AVGO beyond company-specific news. Intel Soars, AMD Jumps, Broadcom Rises as Chip Stocks Rally
- Positive Sentiment: The AI investment narrative remains the key catalyst. Broadcom’s second-quarter AI semiconductor revenue reportedly reached $10.8 billion, up 143% year over year, while management reiterated its expectation that AI semiconductor revenue will exceed $100 billion in fiscal 2027. Broadcom Shares Jump as Investors Revisit AI Growth Catalysts
- Positive Sentiment: Analyst support is favorable: Deutsche Bank and UBS issued Buy ratings, and the reported median price target of $525 remains above the stock’s referenced trading level. Broadcom Analyst Ratings and Price Targets
- Neutral Sentiment: Broadcom will report third-quarter fiscal 2026 results after the market closes on September 2. The announcement gives investors a near-term catalyst to assess AI growth, margins, and forward guidance. Broadcom to Announce Third-Quarter Fiscal 2026 Results
- Negative Sentiment: Broadcom lost a court bid to suspend an EU antitrust request for U.S. legal documents connected with VMware, creating potential legal and regulatory uncertainty following the 2023 acquisition. Broadcom Loses Court Bid to Suspend EU Antitrust Request
- Negative Sentiment: Reported insider activity has been heavily weighted toward sales over the past six months, which may temper sentiment despite strong AI fundamentals. Broadcom Insider Trading Activity
Insiders Place Their Bets
In other Broadcom news, insider Mark David Brazeal sold 25,000 shares of the business's stock in a transaction on Friday, July 10th. The shares were sold at an average price of $401.33, for a total transaction of $10,033,250.00. Following the completion of the sale, the insider owned 194,989 shares in the company, valued at approximately $78,254,935.37. The trade was a 11.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Harry L. You acquired 1,000 shares of the stock in a transaction dated 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 completion of the purchase, the director owned 38,466 shares of the company's stock, valued at approximately $14,369,743.62. The trade was a 2.67% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have sold 61,644 shares of company stock worth $24,016,214 in the last quarter. 1.90% of the stock is currently owned by company insiders.
Analyst Upgrades and Downgrades
A number of research firms have recently weighed in on AVGO. Dbs Bank raised Broadcom to a "moderate buy" rating in a research note on Thursday, June 18th. Evercore reiterated an "outperform" rating and issued a $582.00 price target on shares of Broadcom in a report on Tuesday, May 19th. Truist Financial increased 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. Seaport Research Partners reiterated a "neutral" rating on shares of Broadcom in a research note on Wednesday, April 8th. Finally, Jefferies Financial Group set a $550.00 price target on Broadcom and gave the stock a "buy" rating in a research report on Thursday, June 4th. Twenty-eight research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $493.24.
View Our Latest Analysis on Broadcom
Broadcom Profile
(
Free Report)
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.
Further Reading
Want to see what other hedge funds are holding AVGO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Broadcom Inc. (NASDAQ:AVGO - Free Report).
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