Greenwood Gearhart LLC Purchases 2,363 Shares of Broadcom Inc. $AVGO

Key Points

• Greenwood Gearhart LLC increased its Broadcom stake by 5.2% in the first quarter, buying 2,363 additional shares and bringing its total holdings to 47,913 shares worth about $14.83 million.
• Broadcom’s fundamentals remain strong: the company beat quarterly earnings and revenue expectations, with revenue rising 47.9% year over year and analysts forecasting continued growth for the full year.
• Wall Street remains broadly positive on AVGO, with a consensus Moderate Buy rating and an average price target of $493.24, even as some insiders have recently sold shares.

Greenwood Gearhart LLC boosted its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 5.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,913 shares of the semiconductor manufacturer's stock after buying an additional 2,363 shares during the quarter. Greenwood Gearhart LLC's holdings in Broadcom were worth $14,830,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Vanguard Group Inc. boosted its stake in shares of Broadcom by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 482,707,302 shares of the semiconductor manufacturer's stock valued at $167,064,997,000 after purchasing an additional 3,919,715 shares in the last quarter. State Street Corp raised its position in Broadcom by 2.7% in the 4th quarter. State Street Corp now owns 190,084,351 shares of the semiconductor manufacturer's stock worth $65,788,194,000 after purchasing an additional 5,040,801 shares during the period. Geode Capital Management LLC raised its position in Broadcom by 1.4% in the 4th quarter. Geode Capital Management LLC now owns 111,277,280 shares of the semiconductor manufacturer's stock worth $38,396,634,000 after purchasing an additional 1,548,699 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in Broadcom by 3.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 85,546,083 shares of the semiconductor manufacturer's stock worth $29,607,500,000 after purchasing an additional 2,491,644 shares during the last quarter. Finally, Norges Bank bought a new stake in Broadcom in the fourth quarter worth $24,252,196,000. 76.43% of the stock is currently owned by institutional investors.

Broadcom Price Performance

AVGO stock opened at $396.81 on Thursday. The stock has a market capitalization of $1.89 trillion, a price-to-earnings ratio of 66.14, a PEG ratio of 0.74 and a beta of 1.45. The firm's 50-day moving average price is $399.23 and its two-hundred day moving average price is $366.26. The company has a current ratio of 2.24, a quick ratio of 2.01 and a debt-to-equity ratio of 0.71. Broadcom Inc. has a 12-month low of $273.00 and a 12-month 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 for the quarter, topping analysts' consensus estimates of $2.40 by $0.04. The company had revenue of $22.19 billion during 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 for the quarter was up 47.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.58 earnings per share. As a group, equities analysts predict that Broadcom Inc. will post 10.24 earnings per share for the current year.

Broadcom Announces Dividend

The firm 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 0.7%. Broadcom's dividend payout ratio is presently 43.33%.

Key Headlines Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom is seen as a beneficiary of a new cloud deal, which could support future growth and reinforce its position in AI and cloud infrastructure. Broadcom stands to gain from new cloud deal
• Positive Sentiment: Analysts and bullish commentators continue to highlight Broadcom’s AI exposure, dividend income, and its VCF software business as a growing earnings driver, suggesting more upside if enterprise demand stays strong. VCF is Becoming Broadcom's Growth Engine: More Upside Ahead?
• Positive Sentiment: Broader chip-sector momentum and renewed interest in AI-linked semiconductor names are helping lift Broadcom alongside peers, with UBS saying the recent selloff may be nearing exhaustion. UBS sees Broadcom, Sandisk, Oracle stocks rebounding: here's why
• Positive Sentiment: Several market pieces also argue Broadcom remains attractive at record highs because of strong cash generation and long-term execution under CEO Hock Tan. Cash is Always King Which is Why I Will Not Stop Adding Broadcom
• Neutral Sentiment: Some coverage simply notes Broadcom’s continued strength relative to the broader market, while other articles focus on the company as a core AI and dividend holding rather than on a fresh catalyst. These Stocks Offer AI Exposure and Dividend Payouts
• Negative Sentiment: Insider selling has added a cautious tone, with reports describing mixed insider signals across tech and noting Broadcom sales after a volatile stretch for the stock. Insider Moves Are Sending Mixed Signals Across the Tech Sector (AVGO)
• Negative Sentiment: Broadcom also faced some sentiment pressure after a patent-related ITC investigation was reported, which could create headline risk even if the direct business impact is still unclear. Is Broadcom (AVGO) Still Undervalued As Netlist Patent Claims Test Sentiment?

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on AVGO. Rosenblatt Securities reaffirmed a "buy" rating and set a $500.00 price objective on shares of Broadcom in a research note on Thursday, June 4th. Weiss Ratings raised Broadcom from a "buy (b-)" rating to a "buy (b)" rating in a research note on Wednesday, July 15th. Royal Bank Of Canada increased their target price on Broadcom from $360.00 to $400.00 and gave the company a "sector perform" rating in a report on Thursday, June 4th. Citigroup reaffirmed a "buy" rating on shares of Broadcom in a research note on Thursday, June 4th. Finally, Truist Financial boosted their price objective on Broadcom from $545.00 to $550.00 and gave the company a "buy" 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 issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $493.24.

Insiders Place Their Bets

In other news, insider Mark David Brazeal sold 25,000 shares of Broadcom stock in a transaction that occurred on 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 sale, the insider directly owned 194,989 shares in the company, valued at approximately $78,254,935.37. This trade represents a 11.36% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gayla J. Delly sold 1,890 shares of Broadcom 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 completion of the sale, the director owned 31,326 shares in the company, valued at approximately $12,072,413.88. This represents a 5.69% 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. Corporate insiders own 1.90% of the company's stock.

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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