EP Wealth Advisors LLC Purchases New Position in Broadcom Inc. $AVGO

Key Points

• EP Wealth Advisors LLC acquired 883,315 Broadcom shares in the second quarter, valued at approximately $333.7 million, making AVGO its 17th-largest holding and about 1.3% of its portfolio.
• Broadcom reported quarterly EPS of $2.44 and revenue of $22.19 billion, beating estimates, with revenue up 47.9% year over year. The stock opened at $369.68, while its valuation stood near 62 times earnings.
• Analyst sentiment remains favorable, with 29 Buy ratings and four Holds and a consensus price target of $491.97; however, insiders sold $24.0 million of stock over the past three months, and elevated valuation and competition remain risks.

EP Wealth Advisors LLC acquired a new position in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 883,315 shares of the semiconductor manufacturer's stock, valued at approximately $333,672,000. Broadcom makes up approximately 1.3% of EP Wealth Advisors LLC's portfolio, making the stock its 17th biggest holding.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. ROSS JOHNSON & Associates LLC increased 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 buying an additional 66 shares in the last quarter. Networth Advisors LLC boosted its holdings 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 acquiring an additional 71 shares in the last quarter. SWAN Capital LLC boosted its holdings in shares of 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 acquiring an additional 55 shares in the last quarter. Harborfront Financial Group LLC bought a new stake in Broadcom during the 2nd quarter worth approximately $38,000. Finally, Camelot Portfolios LLC bought a new stake in Broadcom during the 4th quarter worth approximately $45,000. 76.43% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Broadcom news, insider Mark David Brazeal sold 25,000 shares of the stock in a transaction dated Friday, July 10th. The stock was sold at an average price of $401.33, for a total value of $10,033,250.00. Following the completion of the sale, the insider directly owned 194,989 shares in the company, valued at $78,254,935.37. This represents a 11.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gayla J. Delly sold 1,890 shares of the stock in a transaction that occurred on Wednesday, July 8th. The stock was sold at an average price of $385.38, for a total value of $728,368.20. Following the sale, the director directly owned 31,326 shares of the company's stock, valued at approximately $12,072,413.88. The trade was a 5.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 61,644 shares of company stock valued at $24,016,214 in the last three months. Insiders own 1.90% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on AVGO shares. Morgan Stanley set a $502.00 price objective on Broadcom and gave the company an "overweight" rating in a research report on Thursday, June 4th. Zacks Research cut Broadcom from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 21st. Deutsche Bank Aktiengesellschaft restated a "buy" rating and issued a $515.00 target price (up from $430.00) on shares of Broadcom in a research note on Thursday, June 4th. UBS Group set a $485.00 price target on shares of Broadcom and gave the stock a "buy" rating in a research report on Thursday, June 4th. Finally, Bank of America increased their price objective on shares of Broadcom from $450.00 to $530.00 and gave the stock a "buy" rating in a report on Thursday, June 4th. Twenty-nine analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $491.97.

Broadcom Stock Down 0.2%

NASDAQ:AVGO opened at $369.68 on Wednesday. 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 $287.17 and a 12-month high of $495.00. The firm has a market capitalization of $1.76 trillion, a P/E ratio of 61.61, a P/E/G ratio of 0.71 and a beta of 1.44. The stock's fifty day simple moving average is $384.43 and its 200-day simple moving average is $376.88.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its quarterly earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 EPS for the quarter, beating analysts' consensus estimates of $2.40 by $0.04. The company 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 revenue was up 47.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.58 EPS. Equities research analysts expect that Broadcom Inc. will post 10.24 earnings per share for the current year.

Broadcom News Roundup

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom unveiled VMware Private AI Cloud, including VMware AI Factory, AI-ready data foundations and support for more than 150 commercial and open-source models. The platform is designed to reduce AI infrastructure deployment from weeks to hours, improve GPU utilization and give enterprises greater control over AI costs. Broadcom launches private AI cloud tools
• Positive Sentiment: New VMware capabilities—AgentMinder, vDefend and Avi Load Balancer—target security, identity, governance and observability for autonomous AI agents. The launches could strengthen Broadcom’s position in enterprise hybrid-cloud and private-AI deployments while creating additional infrastructure-software opportunities. Broadcom agentic AI security announcement
• Positive Sentiment: Broadcom also launched TrueSource, a commercially supported portfolio of verified open-source software covering Spring, Java, Python, Node.js, PostgreSQL, MySQL and other data engines. The offering may expand recurring software revenue and address growing enterprise demand for secure software supply chains. Broadcom TrueSource announcement
• Neutral Sentiment: Analysts expect another sharp increase in quarterly results, with consensus estimates cited near $29.4 billion in revenue and $3.24 in EPS. Investors will focus on AI-chip demand, hyperscaler custom-ASIC growth, VMware execution, margins and forward guidance when AVGO reports after the market closes on September 2. Broadcom Q3 earnings preview
• Neutral Sentiment: Optimistic coverage points to a median analyst price target of $525 and potential upside from backlog strength, while technical commentary identifies the current area as important support. However, the stock’s reaction may depend more on results and guidance than on existing bullish targets. Broadcom Wall Street outlook
• Negative Sentiment: Semiconductor shares broadly weakened as a global bond selloff pushed long-term yields higher, pressuring high-multiple technology stocks. Broadcom also faces elevated expectations, a valuation near 62 times earnings, margin concerns and competitive pressure from Nvidia, Nutanix and Microsoft. Reported insider activity is heavily weighted toward sales, adding another cautionary signal. Semiconductor stocks and rising yields

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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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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