Hamilton Capital Partners LLC Has $23.04 Million Position in Broadcom Inc. $AVGO

Key Points

• Hamilton Capital Partners reduced its Broadcom position by 4.1% in the second quarter, selling 2,582 shares and retaining 61,003 shares worth approximately $23.04 million. Broadcom remains 6.7% of the fund’s portfolio, while institutional investors collectively own 76.43% of the stock.
• Analysts remain broadly bullish, with 28 Buy ratings and four Holds. Broadcom has an average “Moderate Buy” rating and a consensus price target of $493.24, compared with a recent price of $393.05.
• Broadcom exceeded quarterly expectations, reporting $2.44 in adjusted earnings per share and $22.19 billion in revenue, up 47.9% year over year. The company also declared a quarterly dividend of $0.65 per share, equating to a 0.7% yield.

Hamilton Capital Partners LLC lowered its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 4.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 61,003 shares of the semiconductor manufacturer's stock after selling 2,582 shares during the period. Broadcom comprises 6.7% of Hamilton Capital Partners LLC's holdings, making the stock its 6th biggest holding. Hamilton Capital Partners LLC's holdings in Broadcom were worth $23,044,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Bank of America Corp DE lifted its stake in shares of Broadcom by 1.5% in the 1st quarter. Bank of America Corp DE now owns 58,737,097 shares of the semiconductor manufacturer's stock valued at $18,179,719,000 after purchasing an additional 894,564 shares during the last quarter. Bartlett & CO. Wealth Management LLC increased its position in Broadcom by 129.3% during the first quarter. Bartlett & CO. Wealth Management LLC now owns 110,048 shares of the semiconductor manufacturer's stock worth $34,061,000 after buying an additional 62,050 shares during the last quarter. First Bank & Trust raised its holdings in Broadcom by 17.2% during the second quarter. First Bank & Trust now owns 10,503 shares of the semiconductor manufacturer's stock valued at $3,968,000 after buying an additional 1,545 shares in the last quarter. Fifth Lane Capital LP raised its holdings in Broadcom by 77.8% during the fourth quarter. Fifth Lane Capital LP now owns 4,000 shares of the semiconductor manufacturer's stock valued at $1,384,000 after buying an additional 1,750 shares in the last quarter. Finally, Wealthcare Capital Partners LLC lifted its position in shares of Broadcom by 36.4% in the second quarter. Wealthcare Capital Partners LLC now owns 4,407 shares of the semiconductor manufacturer's stock worth $1,665,000 after buying an additional 1,176 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently issued reports on AVGO. Morgan Stanley set a $502.00 price target on Broadcom and gave the stock an "overweight" rating in a research note on Thursday, June 4th. TD Cowen restated a "buy" rating and issued a $500.00 price objective on shares of Broadcom in a research note on Thursday, June 4th. DA Davidson upped their price objective on shares of Broadcom from $375.00 to $400.00 and gave the stock a "neutral" rating in a report on Thursday, June 4th. KeyCorp reiterated an "overweight" rating and issued a $575.00 target price (up from $500.00) on shares of Broadcom in a research note on Thursday, June 4th. Finally, Mizuho lifted their target price on shares of Broadcom from $480.00 to $530.00 and gave the stock an "outperform" rating in a report on Thursday, June 4th. Twenty-eight equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $493.24.

Broadcom Stock Down 5.9%

NASDAQ AVGO opened at $393.05 on Friday. 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 firm has a 50-day simple moving average of $389.79 and a 200 day simple moving average of $373.30. Broadcom Inc. has a twelve month low of $281.87 and a twelve month high of $495.00. The stock has a market cap of $1.87 trillion, a PE ratio of 65.51, a PEG ratio of 0.80 and a beta of 1.45.

Broadcom (NASDAQ:AVGO - Get Free Report) last released 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. Broadcom had a return on equity of 41.61% and a net margin of 38.85%.The business had revenue of $22.19 billion for the quarter, compared to the consensus estimate of $22.13 billion. During the same period last year, the business earned $1.58 earnings per share. The firm's revenue for the quarter was up 47.9% compared to the same quarter last year. On average, research analysts forecast that Broadcom Inc. will post 10.24 EPS for the current year.

Broadcom Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 22nd were issued a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Monday, June 22nd. Broadcom's dividend payout ratio (DPR) is presently 43.33%.

Insider Transactions at Broadcom

In related news, Director Gayla J. Delly sold 1,890 shares of the company's stock in a transaction 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 transaction, the director directly 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. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Mark David Brazeal sold 25,000 shares of the firm's stock in a transaction 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 completion of the transaction, the insider directly owned 194,989 shares of the company's stock, valued at approximately $78,254,935.37. This trade represents a 11.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 61,644 shares of company stock valued at $24,016,214. Company 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’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

About Broadcom

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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