Davidson Investment Advisors Buys 26,614 Shares of Broadcom Inc. $AVGO

Key Points

• Davidson Investment Advisors increased its Broadcom stake by 26.1%, purchasing 26,614 shares to own 128,579 shares valued at approximately $48.6 million. Broadcom now represents about 2% of Davidson’s portfolio.
• 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 per share, yielding about 0.7% annually.
• Analysts remain generally bullish, with 28 Buy ratings and four Holds, producing a “Moderate Buy” consensus and an average price target of $493.24. Institutional investors own 76.43% of Broadcom, although insiders sold $24.0 million of stock during the latest quarter.

Davidson Investment Advisors boosted its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 26.1% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 128,579 shares of the semiconductor manufacturer's stock after buying an additional 26,614 shares during the quarter. Broadcom makes up about 2.0% of Davidson Investment Advisors' holdings, making the stock its 10th biggest position. Davidson Investment Advisors' holdings in Broadcom were worth $48,571,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. ROSS JOHNSON & Associates LLC raised its holdings in shares of Broadcom by 1,320.0% during the fourth quarter. ROSS JOHNSON & Associates LLC now owns 71 shares of the semiconductor manufacturer's stock worth $25,000 after acquiring an additional 66 shares in the last quarter. SWAN Capital LLC lifted its stake in Broadcom by 261.9% in the fourth quarter. SWAN Capital LLC now owns 76 shares of the semiconductor manufacturer's stock valued at $26,000 after acquiring an additional 55 shares during the last quarter. Networth Advisors LLC grew its position in Broadcom by 546.2% in the first quarter. Networth Advisors LLC now owns 84 shares of the semiconductor manufacturer's stock worth $26,000 after acquiring an additional 71 shares in the last quarter. Nvest Wealth Strategies Inc. bought a new stake in Broadcom in the fourth quarter worth approximately $33,000. Finally, Family CFO Inc acquired a new position in shares of Broadcom during the 4th quarter worth $35,000. Institutional investors and hedge funds own 76.43% of the company's stock.

Insider Activity at Broadcom

In other news, Director Harry L. You bought 1,000 shares of Broadcom stock in a transaction that occurred on Thursday, June 11th. The stock was purchased 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 directly 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Justine Page sold 1,602 shares of the firm's stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $373.86, for a total transaction of $598,923.72. Following the transaction, the director directly owned 17,426 shares of the company's stock, valued at $6,514,884.36. The trade was a 8.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 61,644 shares of company stock worth $24,016,214. 1.90% of the stock is owned by company insiders.

Broadcom Price Performance

NASDAQ AVGO opened at $393.05 on Monday. The company has a current ratio of 2.24, a quick ratio of 2.01 and a debt-to-equity ratio of 0.71. The company has a fifty day simple moving average of $389.79 and a 200 day simple moving average of $373.64. The company has a market cap of $1.87 trillion, a P/E ratio of 65.51, a P/E/G ratio of 0.75 and a beta of 1.45. Broadcom Inc. has a 1 year low of $281.87 and a 1 year high of $495.00.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted 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 business had revenue of $22.19 billion for the quarter, compared to analyst estimates of $22.13 billion. Broadcom had a net margin of 38.85% and a return on equity of 41.61%. Broadcom's revenue was up 47.9% compared to the same quarter last year. During the same period last year, the business posted $1.58 EPS. On average, sell-side analysts predict that Broadcom Inc. will post 10.24 EPS for the current year.

Broadcom Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors 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 0.7%. Broadcom's payout ratio is 43.33%.

Broadcom News Roundup

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom’s custom-silicon and XPU opportunity remains a key long-term catalyst. Analysts and commentators point to accelerating AI infrastructure spending, major customer agreements, and potential growth in custom chips and networking. Broadcom: XPU Growth Trajectory Underestimated, Stock A Bargain
• Positive Sentiment: Wall Street’s average price target implies substantial upside from recent trading levels, supporting the bullish view that the market may be underestimating Broadcom’s AI growth trajectory. Broadcom is Down Over 3 Months: One Wall Street Pro Sees 60%+ Gains Ahead
• Positive Sentiment: Continued institutional interest, including purchases by GAMCO Investors and Cathie Wood’s reported investment, provides some additional support for the stock’s long-term AI investment case. Cathie Wood buys $16.2 million of Broadcom

Wall Street Analysts Forecast Growth

AVGO has been the topic of a number of recent research reports. Cantor Fitzgerald restated an "overweight" rating and set a $525.00 price target on shares of Broadcom in a report on Thursday, June 4th. Evercore reiterated an "outperform" rating and issued a $582.00 price objective on shares of Broadcom in a report on Tuesday, May 19th. Royal Bank Of Canada increased their target price on shares of Broadcom from $360.00 to $400.00 and gave the stock a "sector perform" rating in a research report on Thursday, June 4th. Jefferies Financial Group set a $550.00 target price on Broadcom and gave the company a "buy" rating in a report on Thursday, June 4th. Finally, The Goldman Sachs Group reaffirmed a "buy" rating on shares of Broadcom in a research report on Monday, August 3rd. Twenty-eight research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, Broadcom currently has a consensus rating of "Moderate Buy" and a consensus target price of $493.24.

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.

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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