Hardy Reed LLC Takes $5.42 Million Position in Broadcom Inc. $AVGO

Key Points

• Hardy Reed LLC acquired 14,351 Broadcom shares worth approximately $5.42 million, making AVGO its 25th-largest holding and about 0.3% of its portfolio. Institutional investors collectively own 76.43% of Broadcom.
• Broadcom reported quarterly EPS of $2.44, exceeding estimates of $2.40, while revenue rose 47.9% year over year to $22.19 billion. The company also pays a quarterly dividend of $0.65, equivalent to a 0.7% annualized yield.
• Analysts remain broadly bullish, with 29 Buy ratings, four Holds and a consensus price target of $491.97. Strong AI-chip demand supports the outlook, though potential debt-funded expansion and growing competition from Marvell present risks.

Hardy Reed LLC bought a new position in Broadcom Inc. (NASDAQ:AVGO - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 14,351 shares of the semiconductor manufacturer's stock, valued at approximately $5,421,000. Broadcom comprises about 0.3% of Hardy Reed LLC's investment portfolio, making the stock its 25th largest holding.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Norges Bank bought a new position in shares of Broadcom in the 4th quarter valued at approximately $24,252,196,000. Cardano Risk Management B.V. raised its holdings in Broadcom by 895.2% in the 4th quarter. Cardano Risk Management B.V. now owns 12,689,800 shares of the semiconductor manufacturer's stock worth $4,391,940,000 after acquiring an additional 11,414,701 shares during the period. Arrowstreet Capital Limited Partnership raised its holdings in Broadcom by 118.1% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 18,739,006 shares of the semiconductor manufacturer's stock worth $5,799,889,000 after acquiring an additional 10,145,377 shares during the period. State Street Corp lifted its position in Broadcom by 2.7% during the 4th quarter. State Street Corp now owns 190,084,351 shares of the semiconductor manufacturer's stock worth $65,788,194,000 after acquiring an additional 5,040,801 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in Broadcom by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 482,707,302 shares of the semiconductor manufacturer's stock worth $167,064,997,000 after acquiring an additional 3,919,715 shares during the last quarter. Institutional investors own 76.43% of the company's stock.

Broadcom Stock Performance

Shares of AVGO stock opened at $368.45 on Monday. The company has a market capitalization of $1.75 trillion, a P/E ratio of 61.41, a P/E/G ratio of 0.70 and a beta of 1.45. 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 50-day moving average price of $388.57 and a 200 day moving average price of $375.10.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its quarterly earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 EPS 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 analyst estimates of $22.13 billion. During the same period in the prior year, the company earned $1.58 EPS. Broadcom's revenue for the quarter was up 47.9% on a year-over-year basis. Research analysts forecast that Broadcom Inc. will post 10.24 earnings per share for the current fiscal year.

Broadcom Announces Dividend

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

Wall Street Analysts Forecast Growth

AVGO has been the topic of a number of recent analyst reports. The Goldman Sachs Group reiterated a "buy" rating on shares of Broadcom in a research note on Monday, August 3rd. Bank of America increased their target price on Broadcom from $450.00 to $530.00 and gave the company a "buy" rating in a research note on Thursday, June 4th. BMO Capital Markets started coverage on Broadcom in a report on Thursday. They issued an "outperform" rating and a $455.00 target price on the stock. Citigroup reaffirmed a "buy" rating on shares of Broadcom in a research report on Thursday, June 4th. Finally, Erste Group Bank reissued a "hold" rating on shares of Broadcom in a research report on Tuesday, July 7th. Twenty-nine equities research analysts have rated the stock with a Buy rating and four have issued 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 News Roundup

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: AI financing deal could expand Broadcom’s growth opportunity: Broadcom is reportedly discussing $70 billion to $80 billion of debt financing—potentially approaching $100 billion—to provide AI chips to Anthropic and other companies. The arrangement could support substantial future chip demand, although the financing remains under discussion. Broadcom debt deal expected to reach upwards of $70 billion
• Positive Sentiment: Analysts remain constructive: BMO initiated coverage with an “outperform” rating and a $455 price target, implying meaningful upside from recent levels. Other recent commentary also argues that Broadcom’s AI cycle and long-term custom-chip position could support further gains. Broadcom Stock Picks Up Another Lofty Bull Note
• Positive Sentiment: Strong AI demand underpins the bullish case: Reports cite approximately $30 billion in quarterly AI bookings and management’s goal of exceeding $100 billion in AI sales by 2027. Broadcom’s latest reported quarter also showed 47.9% year-over-year revenue growth, reinforcing the company’s momentum. Broadcom's AI Boom: Is a 2x Stock Gain Still Within Reach?
• Neutral Sentiment: Debt-funded expansion introduces execution and balance-sheet risk: Borrowing tens of billions of dollars could accelerate AI infrastructure growth, but it would also increase leverage and financing costs if customer demand or deal economics disappoint. Broadcom reportedly eyes nearly $100 billion debt package
• Negative Sentiment: Marvell’s Google partnership threatens Broadcom’s custom AI-chip dominance: Marvell’s agreement covers products connected to Google’s TPU ecosystem, including inference accelerators and networking components. Google also received warrants that could align it more closely with Marvell, raising concerns about future share loss for Broadcom despite Broadcom’s existing multiyear Google partnership. Marvell Constructs an AI Moat With Alphabet Warrants

Insiders Place Their Bets

In other Broadcom news, Director Gayla J. Delly sold 1,890 shares of the stock in a transaction dated Wednesday, July 8th. The shares were sold at an average price of $385.38, for a total transaction of $728,368.20. Following the sale, the director owned 31,326 shares of the company's stock, valued at $12,072,413.88. This represents a 5.69% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 transaction 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 represents a 11.36% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 61,644 shares of company stock valued at $24,016,214. 1.90% of the stock is owned by corporate insiders.

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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