Cullinan Associates Inc. Grows Stock Holdings in Broadcom Inc. $AVGO

Key Points

• Cullinan Associates Inc. increased its Broadcom stake by 32.6% in the first quarter, buying 2,892 additional shares and bringing its total to 11,772 shares worth about $3.64 million.
• Broadcom continues to attract strong institutional interest, with 76.43% of shares held by hedge funds and other institutions, while insiders have been active sellers overall in recent months.
• The stock’s fundamentals and outlook remain solid: Broadcom beat quarterly EPS and revenue estimates, raised revenue 47.9% year over year, and analysts largely remain bullish with a consensus rating of Moderate Buy and an average price target of $493.24.

Cullinan Associates Inc. grew its position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 32.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,772 shares of the semiconductor manufacturer's stock after acquiring an additional 2,892 shares during the period. Cullinan Associates Inc.'s holdings in Broadcom were worth $3,644,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. ROSS JOHNSON & Associates LLC increased its holdings in Broadcom by 1,320.0% during the 4th quarter. ROSS JOHNSON & Associates LLC now owns 71 shares of the semiconductor manufacturer's stock valued at $25,000 after purchasing an additional 66 shares during the period. SWAN Capital LLC lifted its holdings in Broadcom by 261.9% in the 4th quarter. SWAN Capital LLC now owns 76 shares of the semiconductor manufacturer's stock worth $26,000 after buying an additional 55 shares during the period. Networth Advisors LLC grew its position in shares of Broadcom by 546.2% in the 1st quarter. Networth Advisors LLC now owns 84 shares of the semiconductor manufacturer's stock worth $26,000 after buying an additional 71 shares during the last quarter. Miller Global Investments LLC bought a new stake in shares of Broadcom in the 4th quarter worth approximately $31,000. Finally, Nvest Wealth Strategies Inc. purchased a new position in shares of Broadcom during the fourth quarter valued at approximately $33,000. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Broadcom

In related news, insider Mark David Brazeal sold 25,000 shares of the stock in a transaction dated 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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Harry L. You purchased 1,000 shares of the stock in a transaction that occurred on Thursday, June 11th. The shares were acquired at an average cost of $373.57 per share, with a total value of $373,570.00. Following the completion of the transaction, the director owned 38,466 shares in the company, valued at $14,369,743.62. This trade represents a 2.67% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders have sold 61,644 shares of company stock worth $24,016,214. Corporate insiders own 1.90% of the company's stock.

Key Broadcom News

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom is being viewed as a major AI infrastructure winner, with recent coverage highlighting its accelerating AI revenue, record bookings, and strong customer partnerships. Snowflake vs. Broadcom: Which Enterprise AI Stock Is the Smarter Buy?
• Positive Sentiment: Wall Street commentary says Broadcom’s Apple agreement through 2031 is strategically positive and supports a durable revenue stream from custom chips and connectivity components. Why Broadcom (AVGO) Is Reinforcing Its Long-Term Growth With an Extended Apple Chip Partnership Through 2031
• Positive Sentiment: Analysts remain upbeat on Broadcom, with reports pointing to roughly 32.8% implied upside from the average price target and improving earnings estimate revisions. Wall Street Analysts See a 32.76% Upside in Broadcom Inc. (AVGO): Can the Stock Really Move This High?
• Positive Sentiment: Morgan Stanley called Broadcom a “core AI winner,” reinforcing the view that AVGO remains one of the main beneficiaries of AI spending. Broadcom is a 'core AI winner,' even as MediaTek encroaches, Morgan Stanley says
• Neutral Sentiment: Broadcom is also drawing heavy investor attention, which keeps the stock in focus but does not by itself change fundamentals. Broadcom Inc. (AVGO) Is a Trending Stock: Facts to Know Before Betting on It
• Negative Sentiment: Sentiment was tempered by reports that Broadcom executives sold shares, which can raise caution even though insider sales do not necessarily signal a business problem. Broadcom Executive Sells $10 Million in AVGO Stock. Is the Insider Sale a Warning Sign?
• Negative Sentiment: Reuters reported that five cloud business groups are urging EU regulators to suspend some Broadcom practices, adding a regulatory overhang to the name. Five cloud business groups urge EU interim measures against Broadcom

Analyst Upgrades and Downgrades

AVGO has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft restated a "buy" rating and set a $515.00 target price (up from $430.00) on shares of Broadcom in a report on Thursday, June 4th. Seaport Research Partners reiterated a "neutral" rating on shares of Broadcom in a report on Wednesday, April 8th. Wells Fargo & Company reissued an "overweight" rating and set a $545.00 price objective (up from $430.00) on shares of Broadcom in a research report on Thursday, May 14th. Benchmark upped their price objective on shares of Broadcom from $485.00 to $545.00 and gave the stock a "buy" rating in a report on Thursday, June 4th. Finally, Mizuho raised their target price on shares of Broadcom from $480.00 to $530.00 and gave the stock an "outperform" rating in a research report on Thursday, June 4th. One 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 a consensus rating of "Moderate Buy" and an average price target of $493.24.

Broadcom Stock Up 1.3%

Shares of NASDAQ:AVGO opened at $394.28 on Thursday. The firm has a market capitalization of $1.88 trillion, a P/E ratio of 65.71, a P/E/G ratio of 0.68 and a beta of 1.45. 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 stock has a 50 day moving average price of $403.23 and a 200-day moving average price of $365.11. Broadcom Inc. has a 52-week low of $273.00 and a 52-week high of $495.00.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its quarterly earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share for the quarter, beating the consensus estimate of $2.40 by $0.04. The company had revenue of $22.19 billion for the quarter, compared to analyst estimates of $22.13 billion. Broadcom had a return on equity of 41.61% and a net margin of 38.85%.The firm's revenue was up 47.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.58 earnings per share. As a group, equities research analysts anticipate that Broadcom Inc. will post 10.24 EPS for the current fiscal year.

Broadcom Announces Dividend

The company also recently disclosed 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 annualized dividend and a yield of 0.7%. Broadcom's dividend payout ratio (DPR) is currently 43.33%.

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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