Harrell Investment Partners LLC Sells 2,158 Shares of Broadcom Inc. $AVGO

Key Points

• Harrell Investment Partners reduced its Broadcom stake by 2.3%, selling 2,158 shares and retaining 90,374 shares worth approximately $34.1 million. Broadcom remains the firm’s largest holding, representing 7.4% of its portfolio.
• Broadcom reported quarterly results ahead of expectations, with EPS of $2.44 versus the $2.40 consensus and revenue of $22.19 billion, up 47.9% year over year.
• Analyst sentiment remains favorable, with a consensus “Moderate Buy” rating and an average price target of $493.24, while insiders sold about $24.0 million of shares during the latest quarter.

Harrell Investment Partners LLC decreased its holdings in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 2.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 90,374 shares of the semiconductor manufacturer's stock after selling 2,158 shares during the quarter. Broadcom makes up 7.4% of Harrell Investment Partners LLC's investment portfolio, making the stock its biggest holding. Harrell Investment Partners LLC's holdings in Broadcom were worth $34,139,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of AVGO. Bank of America Corp DE increased its holdings in shares of Broadcom by 1.5% during the first 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 acquiring an additional 894,564 shares in the last quarter. Bartlett & CO. Wealth Management LLC lifted its holdings in shares of Broadcom by 129.3% in the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 110,048 shares of the semiconductor manufacturer's stock worth $34,061,000 after purchasing an additional 62,050 shares in the last quarter. Fifth Lane Capital LP lifted its holdings in shares of Broadcom by 77.8% in the 4th quarter. Fifth Lane Capital LP now owns 4,000 shares of the semiconductor manufacturer's stock worth $1,384,000 after purchasing an additional 1,750 shares in the last quarter. Wealthcare Capital Partners LLC grew its position in Broadcom by 36.4% in the 2nd quarter. Wealthcare Capital Partners LLC now owns 4,407 shares of the semiconductor manufacturer's stock valued at $1,665,000 after purchasing an additional 1,176 shares during the period. Finally, Robinhood Asset Management LLC acquired a new stake in Broadcom in the 4th quarter valued at $20,514,000. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Broadcom

In related news, Director Justine Page sold 1,602 shares of Broadcom stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $373.86, for a total value of $598,923.72. Following the sale, the director owned 17,426 shares of the company's stock, valued at approximately $6,514,884.36. The trade was a 8.42% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Mark David Brazeal sold 25,000 shares of the company's stock in a transaction that occurred on Friday, July 10th. The shares were 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 owned 194,989 shares in the company, valued at approximately $78,254,935.37. The trade was a 11.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 61,644 shares of company stock valued at $24,016,214 over the last quarter. 1.90% of the stock is currently owned by insiders.

Broadcom Trading Down 1.3%

Shares of Broadcom stock opened at $422.40 on Tuesday. The firm has a market cap of $2.01 trillion, a PE ratio of 70.40, a P/E/G ratio of 0.82 and a beta of 1.45. Broadcom Inc. has a 1 year low of $281.87 and a 1 year high of $495.00. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.24 and a quick ratio of 2.01. The stock has a fifty day moving average price of $392.24 and a 200-day moving average price of $371.22.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its quarterly 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 for the quarter, compared to the consensus estimate of $22.13 billion. Broadcom had a net margin of 38.85% and a return on equity of 41.61%. The firm's quarterly revenue was up 47.9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.58 EPS. Equities research analysts anticipate 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. Shareholders of record on Monday, June 22nd were paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date was Monday, June 22nd. Broadcom's payout ratio is presently 43.33%.

Broadcom News Summary

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom’s custom ASIC positioning remains a key bullish factor. AI semiconductor revenue has more than doubled year over year, with further substantial growth expected, helping the stock outperform some large semiconductor peers. Top Semiconductor Stock Outpacing Nvidia With a 36% Gain Over 6 Months
• Positive Sentiment: Investors continue to favor Broadcom’s combination of cloud-scale demand, enterprise adoption, booked AI growth and strong cash generation. Broadcom’s Brilliant Positioning is Why I Am Loading Up Over and Over
• Positive Sentiment: Broadcom expanded security capabilities in its VMware Cloud Foundation offering, including faster vDefend deployment, on-premises malware sandboxing and API protection. The additions support its enterprise software strategy, although competition from Nutanix and IBM remains intense. Broadcom Boosts VCF Security
• Positive Sentiment: Broker coverage remains constructive: analysts maintain a consensus “Moderate Buy” rating, while Erste Group raised its fiscal 2027 EPS estimate. Broadcom Given Consensus Rating of Moderate Buy
• Neutral Sentiment: The immediate move appears largely technical, with Broadcom slipping after its extended winning streak rather than following a reported earnings or guidance disappointment. Broadcom Slips After Seven-Session Advance
• Negative Sentiment: A potential FCC ban on Chinese optical transceivers could disrupt data-center supply chains and create uncertainty for AI infrastructure suppliers. AI Cold War Catches Light

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Royal Bank Of Canada upped their price objective on shares of Broadcom from $360.00 to $400.00 and gave the stock a "sector perform" rating in a report on Thursday, June 4th. Jefferies Financial Group set a $550.00 target price on shares of Broadcom and gave the stock a "buy" rating in a research report on Thursday, June 4th. Citigroup restated a "buy" rating on shares of Broadcom in a report on Thursday, June 4th. Bank of America raised their price target on shares of Broadcom from $450.00 to $530.00 and gave the company a "buy" rating in a research report on Thursday, June 4th. Finally, Morgan Stanley set a $502.00 price objective on Broadcom and gave the stock an "overweight" rating in a report on Thursday, June 4th. Twenty-eight investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $493.24.

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.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source